Research Project On Importance Of Opportunity Recognition Entrepreneur

Added on -2020-02-05

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Entrepreneur Project- LiteratureReview Component
TABLE OF CONTENTSintroduction....................................................................................................................................1Main Body.......................................................................................................................................1conclusion........................................................................................................................................4references.........................................................................................................................................5
INTRODUCTIONFor getting success, entrepreneur needs to focus on three pieces of entrepreneurship andthese are opportunity recognition, assessment and realization. In which opportunity recognitioncan be considered as important element of the entrepreneurial process which helps in discoveringnew venture or expansion idea. The current research project is based on importance ofopportunity recognition for entrepreneur (Alvarez and et al, 2013). It focuses on the presentationof guest entrepreneur which was based on leadership tips for recognising opportunity. Researchwill review the number of seminal articles based on the current subject. Afterwards, researcherwill analyse that whether leadership tips of guest entrepreneur confirmed or disproved the theoryof opportunity recognition. MAIN BODYKlemn, 2013 has concluded that “Entrepreneurs actually recognise opportunities usingdifferent brainstorming methods” (Klemn, 2013). These methods are group ideation, mind map,SWOT analysis, Role storming, Brain writing, think of solution, edge storming and nominalgroup, etc. All these methods contributes in initiating innovation in existing business operationor starting a new business. Therefore, these are the major methods which are used byentrepreneurs for recognising opportunities. Guest entrepreneur has been focused on some leadership tips for recognisingopportunities and these are as follows:1.Show your first followers how to follow2.Think of failure as your own innovation3.Create your path by “walking”4.Do the little things right5.Be patients and wait for it6.Don’t wish it were easier, wish you were better. Author has chosen some seminal articles for analyzing the actual concepts of opportunityrecognition. In which, study of Alvarez and et al, 2013 has reflected that opportunity recognitionis a process instead of an activity (Alvarez and et al, 2013). On the other hand, Ardichvili andet.al, 2003 has concluded that “Dubin’s theory of opportunity identification process focuseshelps in identifying new opportunities for business” (Ardichvili and et.al, 2003). As per this1| P a g e

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