Journal of Organisational Studies and Innovation
Vol. 1, no.1, summer, 2014
Entrepreneurial Opportunity Emergence: Complex Simulation of Emergent Entrepreneurial Phenomenon
Izuchukwu B. Okoye
London School of Commerce in affiliation with Cardiff Metropolitan University
Abstract: This paper predicts possible patterns in entrepreneurial opportunity (EO) generation techniques and argues that EO emerges from the interaction between enduring entrepreneurial exposures. This study investigates the factors of social network (SN), environment (EV), personality traits (PT), knowledge of technology (TE) and prior knowledge (PK). These repeated evolutions and interactions between entrepreneurial ideas are what constitute complex emergence or re-emergence of EO. Entrepreneurial thinking, is a complex process that cannot be explained by the entrepreneurship literature. Therefore, there is a need to shift from entrepreneurial thinking to a more robust and evolutionary system of thinking. This study adopts an emergent system of thinking. Thus, , entrepreneurial ideas and opportunities emerge from a mindset that includes entrepreneurial qualities and a background of expertise and knowledge. The simulated results show a consistent pattern in the PT, EV and PK of entrepreneurs. Also, variations in TE and SN demonstrate a tendency to innovative behaviour. Therefore, ‘entrepreneurship’ is greatly influenced from its birth by current technologies and the social network of the entrepreneur.
Keywords: entrepreneurial opportunity, innovation, emergent systems, complex emergent organisations...