Shane, S. (2000)
Is the process of discovery based on recognition or search?
Generally driven by recognition of knowledge already possessed.
Which entrepreneurial action regarding strategy would be effective in a discovery context?
Relatively complete and unchanging
What is structural alignment in this context?
It's a cognitive tool that people use to compare things—and to draw implications from the comparison.
What is pattern recognition?
Process through which people perceive unrelated events as constituting identifiable patterns.
Are people more likely to discover opportunities in sectors they know well or in sectors that are trending?
The necessary investment in information is likely to occur long before a particular sector is popular.
Which human resource practices would prove most efficient in a creation context and why?
General and flexible human capital, recruited from pre existing social networks
How does prior knowledge work to an experts advantage?
Non-experts might overvalue some opportunities due to strong superficial similarities & undervalue less obvious ones.
Which three factors are closely related to pattern recognition?
Active search, awareness, prior knowledge.
Which theory considers opportunity exploitation to be endogenous to opportunity discovery?
Austrian economics
What is the difference in nature of opportunities in discovery theory and creation theory?
Discovery: arise exogenously, independent from entrepreneur, exist objectively, active search is needed to find them
Creation: are created endogenously, dependent on entrepreneur, awareness instead of search (act and observe)
Why might organisations recognise less opportunities?
Organizational routines and conditions may contribute to “put decisionmakers on automatic in their interpretation of strategic issues.”
Which factor not displayed in the framework also has important connection to pattern recognition?
Social networks