Perception of Situations and Opportunity Recognition: Development of a Conceptual Model.

Abstract

The multidimensional view of opportunity recognition is addressed differently by number of scholars. However theoretical bases in this regard are still fragmented. We addressed the suggestion of Shepherd, (2015) and develop a conceptual framework on perception of situation as opportunity. Perception of situation as opportunity, prior knowledge, prior experience and processing style have been identified as main constructs of the study. Pertaining propositions were established and finally the conceptual model was developed to depict the perception of situation as opportunity. Also, the application of these constructs in a different context has significant implications. Finally, we confirmed that, more scholarly investigations are required in this regard to validate the applicability of the model.