Report on entrepreneurial behaviour of 2000 words.

· Explain/define entrepreneurial opportunities

· Explain/define opportunity creation and opportunity discovery

· Discuss the similarities between opportunity creation and opportunity discovery

e.g. both creation and discovery arise from competitive market imperfections (you can give examples of market imperfections); both creation and discovery undergo evaluation and exploitation process; creation and discovery may have similar dimensions and drivers when developing the opportunity business model etc (you can give examples of these dimensions and drivers)

Discuss the differences between opportunity creation and discovery e.g.

· endogenous (creation) versus exogenous (discovery);

· uncertainty (creation) versus risk (discovery), etc.

Question 1a Contd.; As part of your evaluation, discuss any three (3) firm-level capabilities/strategies that can be used in the effective exploitation of opportunities. [hint: firm-level capabilities may include; marketing/market orientation, collaborations/alliance formation, networking, technological etc].

(Suggested word count: 1500) Allocation of marks for this question: 70% of 100%

· Explain opportunity exploitation.

Consider the various forms of opportunity exploitation in your explanation. E.g., registering a business, marketing products/services, testing products, advertising, licensing, customer acquisitions, acquiring other business partners, among others.

Among many others, consider the following entrepreneurial actions/strategies; networking, entrepreneurial marketing/market orientation, legitimacy, customer engagement, alliance formation.

Discuss how any three of these strategies can aid entrepreneurs/firms to effectively exploit opportunities (do not forget how opportunity exploitation is broadly defined).

Question 1b. Consider the five (5) dimensions of entrepreneurial orientation (see, Lumpkin and Dess, 1996). Reflect on the extent to which your attitudes and behaviours are consistent with any three (3) of these dimensions.

(Suggested word count: 500) Allocation of marks for this question: 30% of 100%

· Introduction of the five dimensions of EO (autonomy, innovation, risk-taking, proactiveness and competitive aggressiveness)

· Select any three of the dimensions and reflect on them. Use of personal examples (e.g. school, work, job search, current and /or previous employment positions) in the reflective writing.

Note;

· This is only a suggested guide and references to help you write your report. There are other ways and references you can you use to write the report. Please do not restrict your report to these suggested guidelines only.

· Consider using examples and scenarios where possible, to support your discussions.

Some references to consider

Alvarez, S. A., & Barney, J. B. (2007). Discovery and creation: Alternative theories of entrepreneurial action. Strategic entrepreneurship journal, 1(1‐2), 11-26.

Ardichvili, A., Cardozo, R., & Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing, 18(1), 105–123. 

Blundel, R., Lockett, N., & Wang, C. (2017). Exploring entrepreneurship. Sage. chapter 6

Boso, N., Story, V. M., & Cadogan, J. W. (2013). Entrepreneurial orientation, market orientation, network ties, and performance: Study of entrepreneurial firms in a developing economy. Journal of Business Venturing, 28(6), 708-727.

Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of management Review, 21(1), 135-172.

Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of management review, 25(1), 217-226.

Wang, T., Thornhill, S., & De Castro, J. O. (2017). Entrepreneurial orientation, legitimation, and new venture performance. Strategic Entrepreneurship Journal, 11(4), 373-392.

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