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A Longitudinal Study on the Internal Driving Force and Opportunity Realization Process in New Venture Growth
  • - Cha Min-Seok (KAIST Business School)
  • - Bae Zong-Tae (KAIST Business School)
[Abstract]
The focus of this research is to reveal the internal driving force of opportunity realization. In doing so, we theorize the entrepreneurial process of interaction between entrepreneur and opportunity. The process of opportunity realization means to resolve a number of problems and obstacles on the way to opportunity. There is an internal driving force that channels and sustains entrepreneurial activities for opportunity realization. This driving force that has two dimensions: drive and directivity. The role of entrepreneurial intent is to channel entrepreneurial activity to resolve problems and to continue until the opportunity is realized. The hypotheses are based on these effects of entrepreneurial intent and are tested with longitudinal survey data. The results show that entrepreneurial intent has a positive effect on venture growth as opportunity realization. Moreover, entrepreneurial intent is effective even with fewer resources or in dynamic environments. Practical and academic implications are discussed with limitations and further research.
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