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What
What
A key module in MGT 386, MGT 387, MGT 388, and MGT X82 for understanding how entrepreneurs recognize promising opportunities.
Learning Objectives
Learning Objectives
Upon completion of this module you should be able to:
explain how differences of opinion in the value and use of resources can lead to opportunities
describe and differentiate the roles that prior knowledge, prior experience, social networks, and alertness play in opportunity recognition
explain why trends, changes, and events can be interpreted differently in different people's cognitive frameworks
relate how the windows of opportunity framework explains the opportunity-based attributes of timeliness and durability
describe how differences in the breadth or depth of knowledge dissemination related to an opportunity affect how soon a window of opportunity will open and close
Instructions
Instructions
Watch the assigned videos and presentations;
Read the assigned readings;
Complete the practice quiz or other assigned practice activity
Complete the assessment;
Complete the "Mark as Complete" checklist.
View
View
Opportunity Recognition.mp4Lecture on Opportunity Recognition
Lecture on Opportunity Recognition
How do entrepreneurs identify promising opportunities? You'll learn about the origins of thinking about opportunities, different models that seek to explain it, how to "connect the dots," what "alertness" means in the context of opportunities, and some practical take-aways to develop your ability to recognize opportunities.
Windows of Opportunity.mp4Windows of Opportunity
Windows of Opportunity
Opportunities are created in real time and are characterized by a window of opportunity; the opening and closing of windows of opportunity highlights the importance of timeliness
For an entrepreneur to seize an opportunity requires that the window be opening, not closing, and that it remains open long enough to satisfy the attribute of durability
Read
Read
Timmons, J. 1994. Opportunity Recognition (first 10 pages of Timmons' New Venture Creation)
Armstrong, C.E. 2015. Opportunity Recognition (a summary of frameworks with some references to heuristics and biases; google doc)
Armstrong, C.E. 2015. A Simple Checklist for Evaluating Business Ideas (google doc)
Practice
Practice
Assessment - Graded Activity - Connect the Dots
Assessment - Graded Activity - Connect the Dots
Please browse to "Connect the Dots Assessment" to complete your graded activity for this module. This assignment is worth 10 points toward your final grade.
Further Reading
Further Reading
Mark as Complete
Mark as Complete
After you have completed the Videos, readings, practice quiz, and assessment, please return to your course homepage for the next module
After you have completed the Videos, readings, practice quiz, and assessment, please return to your course homepage for the next module
New Venture Finance, MGT 481, Fall 2020
New Venture Development, MGT X82, Fall 2020
Talking Points - 9/8/2020 Lecture
Talking Points - 9/8/2020 Lecture
Armstrong Talking Points on Creativity (9/8/2020)
Armstrong Talking Points on Creativity (9/8/2020)
Thoughts on Fluent Thinking, followed by Random Input Creativity Technique and Random Word Activity
If you are participating in the 9/8/2020 Zoom lecture, you'll be expected to have pen, paper, and a "camera" to take an image of your attribute lists and send it to MGTX82BAMA@gmail.com.
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