ABSTRACT. This article explores the phenomenon of entrepreneurial opportunity. Entrepreneurial opportunity is depicted as a nexus between the ebb and flow of the environment and our personal, family and business disposition, reflected in our personal knowledge. Opportunity recognition therefore must be seen as an ability not uniform throughout the community. Entrepreneurial opportunity is defined and described as existing within four typologies; imitation, allocative, discovery, and construction, which all have individual characteristics. The paper discusses seeing opportunity based upon prior knowledge, emotional sensitivity, and one’s current perspective. The entrepreneurial process and evaluation of any opportunity is considered with a modified SWOT configuration. pp. 128–166
JEL codes: L26

Keywords: entrepreneurship, opportunity, perception, opportunity evaluation, chance, SWOT

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University Malaysia Perlis

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