Potential for opportunity recognition: differentiating entrepreneurs

Abstract

The potential for opportunity recognition (ORP) is a skill that single out successful entrepreneurs from unsuccessful ones. The entrepreneurs with high ORP were differentiated from the entrepreneurs with low ORP on the factors that influence their ORP. It was also found that the factors influencing ORP differed with the degree of potential to recognising opportunities. The ORP of entrepreneurs with high potential to recognise opportunities was influenced by bonding social capital, power motivation and level of education attained. Whereas, the ORP of entrepreneurs with low potential to recognise opportunities was influenced by their cognitive style. The implications of this study on mentoring of entrepreneurs are discussed.