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Opportunity Recognition, Evaluation and Exploitation in the Context of Prototyping

Mühlbauer, Antonia LU and Heinrich, René LU (2018) ENTN19 20181
Department of Business Administration
Abstract (Swedish)
This research advances the theoretical knowledge of the entrepreneurial process by investigating opportunity recognition, evaluation and exploitation in the context of prototyping. In particular, this thesis studies if, how and why the phenomenon changes the new venture creation process.
Eight in-depth, semi-structured interviews were conducted with founders of startups offering a digital solution. The multiple case study approach allowed us to gather rich data to shed light on this phenomenon mostly neglected in entrepreneurial research thus far.
Our results suggest that the context and the specificity of prototyping fundamentally change our understanding of the new venture creation process. Even though prototyping does not noticeably... (More)
This research advances the theoretical knowledge of the entrepreneurial process by investigating opportunity recognition, evaluation and exploitation in the context of prototyping. In particular, this thesis studies if, how and why the phenomenon changes the new venture creation process.
Eight in-depth, semi-structured interviews were conducted with founders of startups offering a digital solution. The multiple case study approach allowed us to gather rich data to shed light on this phenomenon mostly neglected in entrepreneurial research thus far.
Our results suggest that the context and the specificity of prototyping fundamentally change our understanding of the new venture creation process. Even though prototyping does not noticeably change the opportunity recognition phase, we see that both opportunity evaluation and exploitation are profoundly impacted by the phenomenon. Key regarding the evaluation is the increased opportunity confidence created through enhanced communication, feedback, and feasibility analyses, in the case of digital solutions accomplished through measurable data. Besides, for the context of this study, it has been found that prototypes are being exploited before the completion of the opportunity evaluation. Hence, we have seen that in the context of prototyping, the evaluation and exploitation phases are closely linked and inform each other. Lastly, this research delineates theoretical and practical implications based on our findings. (Less)
Please use this url to cite or link to this publication:
author
Mühlbauer, Antonia LU and Heinrich, René LU
supervisor
organization
alternative title
A Multiple Case Study of Digital Solution Startups
course
ENTN19 20181
year
type
H1 - Master's Degree (One Year)
subject
keywords
Prototyping, Opportunity recognition, Opportunity evaluation, Opportunity exploitation, Entrepreneurial process, New venture creation process, Design Thinking, Lean Startup, Pretotyping, MVP
language
English
id
8958197
date added to LUP
2018-09-07 15:11:05
date last changed
2018-09-07 15:11:05
@misc{8958197,
  abstract     = {This research advances the theoretical knowledge of the entrepreneurial process by investigating opportunity recognition, evaluation and exploitation in the context of prototyping. In particular, this thesis studies if, how and why the phenomenon changes the new venture creation process.
Eight in-depth, semi-structured interviews were conducted with founders of startups offering a digital solution. The multiple case study approach allowed us to gather rich data to shed light on this phenomenon mostly neglected in entrepreneurial research thus far.
Our results suggest that the context and the specificity of prototyping fundamentally change our understanding of the new venture creation process. Even though prototyping does not noticeably change the opportunity recognition phase, we see that both opportunity evaluation and exploitation are profoundly impacted by the phenomenon. Key regarding the evaluation is the increased opportunity confidence created through enhanced communication, feedback, and feasibility analyses, in the case of digital solutions accomplished through measurable data. Besides, for the context of this study, it has been found that prototypes are being exploited before the completion of the opportunity evaluation. Hence, we have seen that in the context of prototyping, the evaluation and exploitation phases are closely linked and inform each other. Lastly, this research delineates theoretical and practical implications based on our findings.},
  author       = {Mühlbauer, Antonia and Heinrich, René},
  keyword      = {Prototyping,Opportunity recognition,Opportunity evaluation,Opportunity exploitation,Entrepreneurial process,New venture creation process,Design Thinking,Lean Startup,Pretotyping,MVP},
  language     = {eng},
  note         = {Student Paper},
  title        = {Opportunity Recognition, Evaluation and Exploitation in the Context of Prototyping},
  year         = {2018},
}