Entrepreneurial Venture Creation: The Application of Pattern Identification Theory to the Entrepreneurial Opportunity-Identification Process

Abstract

In this paper, the author argues that pattern identification plays a pivotal role in the entrepreneurial opportunity-identification process. He structures the paper into eight sections. First, the author introduces the reader to a brief review of historical studies into entrepreneurial opportunity identification. Second, he provides the theoretical underpinning of the paper. Third, the author outlines major factors that influence the opportunity identification. Fourth, he assesses the link between entrepreneurial behavior and perceived technological changes. Fifth, the author puts forth a brief review of alternative models of opportunity identification. Sixth, he analyzes the pattern identification models and their applications to the opportunity identification. Seventh, the author briefly discusses some key issues in the paper. Eight, he draws three implications for entrepreneurial practice. The author concludes the paper with an emphasis on the importance of the pattern identification perspectives to the short-term survival and long-term success of entrepreneurship, and offers suggestions for further research.