THE ENTREPRENEURSHIP OF RESOURCE OPPORTUNITY

Abstract

This paper has two primary purposes; first, we expand confines of Resource Opportunity (hence forth referred to as; RO) by introducing two entrepreneurial concepts: 1) entrepreneurial recognition, which we describe as the recognition of opportunities and opportunity seeking behaviour as a resource and 2) the method of combining and organizing resources as a resource. The second objective is to build theory for the field of entrepreneurship that can potentially cover micro and macro issues by focusing on the resources as the unit of analysis. This attempt is ordered around the four conditions of RO: resource heterogeneity, ex post limits to competition, imperfect factor mobility and ex ante limits to competition. By defining entrepreneurship which we define as the recognition and exploitation of opportunities which result in firm creation that seeks to obtain entrepreneurial rents, through the four conditions of RO we hypothetically inform and expand current research in both entrepreneurship and RO.