Abstract

We examined 19 years of conceptual and operational definitions of entrepreneurial opportunity and opportunity-related processes (recognition, discovery, etc.). We found 56 articles in 6 entrepreneurship-focused publications, with 23 conceptual and 6 operational definitions of opportunity as well as 25 conceptual and 24 operational definitions of opportunity-related processes. Among those definitions, we identified 25 distinct definitional elements and 12 operational elements of opportunity as well as 48 definitional elements and 39 operational elements of opportunity-related processes. We used the definitional elements to develop six composite definitions of opportunity and eight composite definitions of opportunity-related processes. Additionally we found a disconnect between conceptual and operational definitions.

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