Opportunity Recognition and Motivation in Entrepreneurship : A comparative study of would-be Entrepreneurs and experienced Entrepreneurs

• Main Authors: Petig, Johannes, Zhou, Shangjing
• Format: Others
• Language: English
• Published: Linnéuniversitetet, Institutionen för organisation och entreprenörskap (OE) 2018
• Subjects: Opportunity Recognition; Motivation; Entrepreneur; Evaluation; Promo- t ion; A chievement; Perception; Needs; Natural Sciences; Naturvetenskap; Economics and Business; Ekonomi och näringsliv
• Online Access: http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-74671

Purpose:The purpose of this study is to explore the differences in opportunity recogni-tion as well as the different motivations between would-be and experienced entrepre-neurs. Design/ Methodology/ Approach:The paper builds up on a deductive research ap-proach. Six qualitative interviews provided the researchers with empirical data to the phe-nomenon of opportunity recognition and the influencing aspect of human motivation. These data were analyzed in a comparative study, using a creativity based model of en-trepreneurial opportunity recognition and thehierarchy of needs from Abraham Harold Maslow, as the mostpopular framework in motivational theory. Findings:The research study provided significant insights into the opportunity recogni-tion of would-be and experienced entrepreneurs. The researchers identified differences in the evaluation stage of opportunity recognition between would-be and experienced entre-preneurs. Would-be entrepreneurs demonstrated a more cautious evaluation, taking into consideration all the resources which they did not possess yet. Whereas the experienced entrepreneurs demonstrated an awareness for all the resources that they were already holding due to their previous experience as entrepreneurs. With regards to the human motivation experienced entrepreneurs tend to reach and to satisfy higher needs than would-be entrepreneurs. Achievements and financial outcomes, usually belonging to es-teem needs, are for experienced entrepreneurs rather the result of a successful self-actu-alization. Instead would-be entrepreneurs had their focus on the improvement of their current situation. The paper provided deepened insights about the connectivityof human needs of would-be and experienced entrepreneurs and the interrelation of human motiva-tionto opportunity recognition. Contribution:On the base of the intense discussion about entrepreneurial contributions to the national and international economies, the researchers were able to provide an im-proved understanding of opportunity recognition comparing theexperienced entrepre-neurs and those who would like to become entrepreneurs. The analysis of influencing aspects like the human motivation enablesthe adjustment of entrepreneurship programs.Considering the results,the developmentand alignment ofentrepreneurship promotionscan be improved.Successful addressingand motivatingof individuals by entrepreneur-ship programs support theseindividuals to engage entrepreneurial.