What

Scholars have described entrepreneurship as "the nexus of an enterprising individual and valuable opportunities" (Shane & Eckhardt,2003; Shane & Venkataraman, 2000; Shook, Priem, & McGee, 2003; Venkataraman, 1997). For entrepreneurship researchers, this framing helped to identify the focal constructs of entrepreneurship (entrepreneurs and opportunities) and to set some boundaries for conducting research in - compared to economics, finance, and sociology - a relatively new domain of study. Much earlier than that, however, researchers had been focusing on mostly static attributes of the entrepreneur, such as traits and family background, and a taken-for-granted existence of opportunities "just waiting for an alert person to discover."

Carol Moore (1986) was among the first to identify that entrepreneurship consists of a set of processes defined by different stages and needs for the entrepreneur and her pursuit of these opportunities. He defined the four stages of the entrepreneurial process as innovation, triggering event, implementation, and growth, which were each affected by personal, sociological, environmental, and organizational influences. Jeffrey Timmons and colleagues (Timmons, 199; Timmons, Spinelli, & Tan, 2004) and Bill Bygrave and Andy Zacharakis (Bygrave & Zacharakis, 2004, 2011) largely championed this process view in their popular New Venture Creation books, which have ranked among the best entrepreneurship textbooks since the 1990s.

In this module I cover the elements of the Model of the Entrepreneurial Process and provide a vivid case study for contextualizing the Model in action. Among the things you should take away from the model are how different aspects of the entrepreneur's knowledge, skills, and abilities are called upon during the different stages, and how contextual factors like a culture that values creativity and risk taking, role models, and opportunities for a great education contribute to the "innovation" of building great entrepreneurs.

Learning Objectives

Students who complete this module should be able to:

• Recite the major contexts and stages of Carol Moore's (1986) Model of the Entrepreneurial Process and describe how they can interact.

• Identify the different human capital attributes and skills that are required of the entrepreneur across the entrepreneurial process model.

• Elaborate on the importance of environmental context components "opportunities, role models, and creativity" in the development of the innovation stage

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.

Content: Watch and Read

Watch

Read

Schenkel, M. T., Cornwall, J. R., & Finley, J. (2012). Snappy auctions. Entrepreneurship Theory and Practice, 36(3), 589-610. Access this case study through your MyBama credentials in our UA library system. See also <here/>

Assessment - Graded Activity (+experiment to Test Your Idea)

Read R&R case with Bob Reiss (HBR, 1987). Yes, this is an "older" case, yet it's value to understanding how to pursue an opportunity are priceless. You should read this well in advance of the due date for this assignment because there are a lot of moving parts, especially on the income statement. I'm creating new questions to ask you about this case in the context of "pursuit of opportunities," so check back occasionally to see what you need to address in your work.

References

Bygrave, W. D., & Zacharakis, A. (2004). The portable MBA in entrepreneurship. John Wiley & Sons.

Bygrave, W., & Zacharakis, A. (2011). Entrepreneurship, John Willy & Sons. Inc., Babson Park.

Moore, C. F. (1986, August). Understanding Entrepreneurial Behavior: A Definition and Model. In Academy of Management Proceedings (Vol. 1986, No. 1, pp. 66-70). Briarcliff Manor, NY 10510: Academy of Management.

Schenkel, M. T., Cornwall, J. R., & Finley, J. (2012). Snappy auctions. Entrepreneurship Theory and Practice, 36(3), 589-610

Shane, S., & Eckhardt, J. (2003). The individual-opportunity nexus. In Handbook of entrepreneurship research (pp. 161-191). Springer, Boston, MA.

Shook, C. L., Priem, R. L., & McGee, J. E. (2003). Venture creation and the enterprising individual: A review and synthesis. Journal of management, 29(3), 379-399.

Timmons, J. A. (1999). New Venture Creation: Entrepreneurship in the 21st century. Homewood, IL: Irwin.

Timmons, J. A., Spinelli, S., & Tan, Y. (2004). New venture creation: Entrepreneurship for the 21st century (Vol. 6). New York: McGraw-Hill/Irwin.

Venkataraman, S. (1997). The distinctive domain of entrepreneurship research. Advances in Entrepreneurship, Firm Emergence and Growth, Volume 3, JAI Press. pages 119-138.

Feedback for Me

Mark as Complete - Module on Pursuit of Opportunities