School of Business publications portal
This portal is no longer updated. Aalto University School of Business Master's Theses are now in the Aaltodoc publication archive (Aalto University institutional repository)
School of Business | Department of Management and International Business | SME Business Management | 2012
Thesis number: 12816
Entrepreneurial opportunity process: A case study
Author: Mäkinen, Janne
Title: Entrepreneurial opportunity process: A case study
Year: 2012  Language: eng
Department: Department of Management and International Business
Academic subject: SME Business Management
Index terms: pk-yritykset; smes; yrittäjyys; entrepreneurship; liikeidea; business idea; liike-elämä; business life; arviointi; evaluation
Pages: 69
Key terms: entrepreneurship; opportunity; identification; recognition; creation; evaluation; exploitation; yrittäjyys; liiketoimintamahdollisuus; tunnistaminen; luominen; arviointi; hyödyntäminen
PURPOSE OF THE STUDY The aim of the study is to enhance understanding of entrepreneurial opportunities and opportunity-related processes with specific focus on the identification phase. This is done by following and recreating the different phases of venture creation for a case company. The process is approached from the premise of an individual-opportunity nexus, acknowledging that both the individual as well the opportunity are relevant in understanding the process in its entirety.

METHODOLOGY The research strategy of the study is an interview-based case study. The framework of the analysis is based on Stritar and Drnovsek’s model of opportunity identification and development. The narrative of the entrepreneur is further analyzed with the critical incidents and events –technique to extract key insights.

FINDINGS The results of this research project suggest that a potential way of recognizing and discovering business opportunities is to model opportunities that have been already exploited in other countries or markets and modify them to the local business environment. Further research on the international aspects of opportunities, which have been thus far all but neglected in discussion, would benefit entrepreneurship scholars in their understanding of the opportunity concept.

In addition, external feedback of key stakeholders was found to be an important moderator for the evaluation of the opportunity and subsequent exploitation decision in the opportunity process of the case company. The significance of external feedback could be an important moderator in the opportunity process in general, and needs further research.
Master's theses are stored at Learning Centre in Otaniemi.