The Entrepreneurial Opportunity Construct: Dislodge or Leverage?

As part of the current debate about the scholarly value of the entrepreneurial opportunity construct, some critics have suggested that the construct be dislodged. We challenge this position by describing several perils of such a move. Our conceptual framework rests on the assumption that "oppor...

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Bibliographic Details
Published inAcademy of Management perspectives Vol. 34; no. 3; pp. 352 - 365
Main Authors Wood, Matthew S., McKinley, William
Format Journal Article
LanguageEnglish
Published Briarcliff Manor Academy of Management 01.08.2020
Subjects
Ambiguity
Disconnection
Enactment
Entrepreneurs
Entrepreneurship
Myopia
Opportunity
Strategic management
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Summary:As part of the current debate about the scholarly value of the entrepreneurial opportunity construct, some critics have suggested that the construct be dislodged. We challenge this position by describing several perils of such a move. Our conceptual framework rests on the assumption that "opportunity" is best characterized as an umbrella construct capable of unifying competing and complementary theories. We propose that dislodging the concept would subject the field to at least four perils: the peril of a displacement of ends in entrepreneurship research, the peril of increased myopia about the enactment of opportunity, the peril of ambiguity all over again, and the peril of disconnection from practice. We argue that leveraging opportunity as an umbrella construct is a more fruitful path, and we identify increasing representational inclusiveness, the possibility of evangelistic action, and heedful interrelating as important advantages of this course of action. These benefits suggest that focusing on opportunity as an integrative umbrella construct offers a way forward for entrepreneurship research.
ISSN:1558-9080
1943-4529
DOI:10.5465/amp.2017.0162