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Factors in Opportunity Identification

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Discuss in scholarly detail factors including entrepreneurial alertness, information asymmetry, social networks, and the ability to establish means-ends relationships that influence the ability of individuals to identify opportunities. Give examples.

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There are several factors that influence the ability of individuals to identify opportunities. The first factor is entrepreneurial alertness. The entrepreneur is alert to the change in the market demand, new technologies, new legislation, and economic changes he is able to identify opportunities (1). For example, an entrepreneur finds that the demand for stretch wrapping has increased in Minneapolis; he can identify an opportunity for marketing stretch wrapping consumables in that area. The second factor is information asymmetry. This is a situation in which the ...

Solution Summary

The answer to this problem explains entrepreneurship and opportunities including information asymmetry, social networks, and means-ends relationships . The references related to the answer are also included. 334 words.

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