Entrepreneurial alertness

Renhong Zhu, Zhongshan University Abstract Entrepreneurial alertness is a key factor driving the opportunity recognition process. However, models of entrepreneurial alertness remain underdeveloped because of the ambiguity and diversity of definitions and integral components.

Entrepreneurial alertness

Cite Harvard Altaf, H.

Entrepreneurial alertness in the pursuit of new opportunities - ScienceDirect

Journal of International Business Research and Marketing, 1 6pp. Journal of International Business Research and Marketing, 1 6 Journal of International Business Research and Marketing. Entrepreneurial alertness is considered vital for identifying the opportunity which can have an impact on mindset for exploiting the opportunities.

The objective of this study was to analyze the connection between opportunity identification and intentions formation Entrepreneurial alertness entrepreneurial alertness based on the theory of planned behavior. The data was Entrepreneurial alertness from the final year business students of nine universities from Sindh, Pakistan using cross-sectional survey.

The results of this study revealed that entrepreneurial alertness has positive and significant effect on attitude, subjective norms, perceived behavioral control and entrepreneurial intentions.

The findings of this study contributed to the theory of planned behavior by taking entrepreneurial alertness as a predictor of entrepreneurial intentions. The findings also have implication for increasing the supply of entrepreneurial capital into the society.

Entrepreneurship, Entrepreneurial education, Entrepreneurial alertness, Entrepreneurial intention. Introduction The process of entrepreneurship consists of capabilities to discover the opportunity, collect resource, organize them and adopt the strategy so that opportunity can be exploited Shane, However, opportunity identification is guided by the entrepreneurial mindset which consists of alertness Krizner, Alertness helps individual to accumulate and trigger sniffing ability which makes them capable of identifying gaps in the market that have been overlooked by others Krizner, Moreover, alertness develops the aptitude for perceiving the change of signals in the environment for improving the decision-making quality of an individual.

Shane suggested that the individual capability of identifying opportunities depends on how knowledge and information are converted and transformed. According to Martin, McNally and Kay the outcome of investment in human capital i.

Driving the Market Process: "Alertness" Versus Innovation and "Creative Destruction"

Valliere argued that disparity in schematic priming might be considered to have a connection with entrepreneurial intention. Means of motivating intention can probably develop this through entrepreneurial alertness, however, this relation between entrepreneurial alertness and entrepreneurial intention need to be investigated in future research.

Some studies have suggested further investigation and research to understand the relation between entrepreneurial alertness and entrepreneurial intention Valliere, To address this issue, this study will analyze the effect of entrepreneurial alertness on entrepreneurial intentions based on a theory of planned behavior.

The organization of this paper is as following. First, we will discuss the theoretical framework and hypotheses by explaining the effect of entrepreneurial alertness on entrepreneurial intentions based on the theory of planned behavior.

The next section will suggest the hypothesis of the study. The methodology section will discuss sample and method used for analyzing the data. The result section will describe findings and discuss them.

Finally, the conclusion section will briefly describe the concluding remarks. Theoretical Framework According to Ajzenentrepreneurial intentions identify the endeavor that one make to carry out the entrepreneurial behavior.

Ajzen in his theory of planned behavior suggested three interdependent antecedents of intentions i. The model classifies personal attitude towards the behavioral outcomes, perceived social norms which reveal desirability of performing the behavior and Perceived Behavioural Control PBC reflects the personal competence of controlling the behavior Ajzen, Theory of planned behavior can apply to all voluntary behavior, and it can provide an explanation in different fields, as well as the choice of becoming an entrepreneur Ajzen, ; Kolvereid, ; Krueger et al.

An important aspect needed for becoming an entrepreneur is to encourage the individual by endowing them with the required skills and knowledge for identifying the opportunities and turning these opportunities into successful ventures Shane,Moreover, entrepreneurial alertness could play a vital role in developing entrepreneurial intentions of potential entrepreneurs.

Based upon the dynamic view of human capital theory, human capital is set of idiosyncratic skills and competencies like entrepreneurial alertness. Entrepreneurial alertness, in its turn, is a necessary condition for the success of the opportunity identification triad: recognition, development, and evaluation.

Entrepreneurial alertness

A theoretical model, laws of interaction, a set of propositions, and suggestions for further research are provided. An ability to act upon an entrepreneurial opportunity is a major driver of new venture success.

However, scholarly knowledge is limited on how and when entrepreneur alertness to entrepreneurial opportunities drives new venture success.

Edited by Hans Landström and Franz T. Lohrke

Entrepreneurial alertness, a distinctive set of perceptual and information-processing skills, has been advanced as the cognitive engine driving the opportunity identification process. To date, empirical support has been equivocal; however, these early studies suffer from .

The recognition and development of new opportunities are at the heart of entrepreneurship. Building from Kirzner's (, ) work, cognition theory, and McMullen and Shepherd's () recent development, we offer a model involving three distinct elements of alertness: scanning and search, association and connection, and evaluation and judgment.

Entrepreneurial ventures transit stages of startup, growth, and harvest. The distinctive quality of the early-stage entrepreneurial experience arises from its focus on opportunity, uncertainty and lack of structure, resource scarcity, and fluid or dynamic.