Entrepreneurial Opportunity Recognition: An Empirical Study Of An Ict Enterprise

Abstract

ABSTRACT: Opportunity recognition is one of the most important skills an entrepreneur and business owner needs to acquire [1]. One of the ways an entrepreneur could understand this skill is through research. Since the key part that needed to be highlighted in implementing this kind of entrepreneurial research is to explain the discovery and development process of opportunities as mentioned by [2]. This research will utilize [3] proposed framework due to the aim of this framework is to capture the early phases of ontogenesis in opportunity recognition and describe how each factor determine the success of it. This framework’s factors include alertness, prior knowledge or experience, and social network This framework will be implemented on PT.XYZ an IT tech support company based in Jakarta, Indonesia to capture and study the early phases of ontogenesis in opportunity recognition that occurs in the organization. Where currently PT.XYZ is at the phase where the demand to create new breakthrough is critical for the company’s future growth. With cybersecurity being the growing trend in the IT industry, PT.XYZ wanted to use this business environment changes to search for its new opportunity. By gathering selected workers to find a creative idea that will be the foundation of their new project. The sample that was used to test-on in this research comes from those selected few that handles the project. The objective of this study is to describe what impact the three factors do in determining the success of the opportunity recognition process. The research founds out that those three factors are the determining factors that act as a guide in opportunity searching. In short explanation, alertness acts like a train, while prior knowledge and social network are the rails that guide alertness to stay on track. Keywords: Entrepreneurship, entrepreneurial opportunity recognition, opportunity recognition, opportunity recognition skill, entrepreneurial opportunity recognition, skill, opportunity recognition study, entrepreneurial opportunity recognition study, digital entrepreneurship,