Entrepreneurial Alertness and Opportunity Discovery: Origins, Attributes, Critique

Nicolai Juul Foss, Peter G. Klein

    Research output: Working paperResearch

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    Abstract

    Israel Kirzner’s concept of entrepreneurship as alertness to profit opportunities is one of the most influential modern interpretations of the entrepreneurial function. Shane and Venkataraman’s (2000: 218) influential assessment defines entrepreneurship research as “the scholarly examination of how, by whom, and with what effects opportunities to create future goods and services are discovered, evaluated, and exploited.” As such, “the field involves the study of sources of opportunities; the processes of discovery, evaluation, and exploitation of opportunities; and the set of individuals who discover, evaluate, and exploit them.” Shane’s General Theory of Entrepreneurship (2003) cites Kirzner and “Kirznerian opportunities” more than any writer other than Joseph Schumpeter. More generally, the entrepreneurial opportunity, rather than the individual entrepreneur, the startup company, or the new product, has become the centerpiece of the academic study of entrepreneurship
    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherCenter for Strategic Management and Globalization
    Number of pages30
    ISBN (Print)9788791815423
    Publication statusPublished - 2009
    SeriesSMG Working Paper
    Number2/2009

    Cite this

    Foss, N. J., & Klein, P. G. (2009). Entrepreneurial Alertness and Opportunity Discovery: Origins, Attributes, Critique . Center for Strategic Management and Globalization . SMG Working Paper, No. 2/2009