An Exploration of the Correlation between Entrepreneurial Success and the Capacity of an Entrepreneur for Unique Opportunity Identification

Abstract

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The purpose of the study is to analyze several components of entrepreneurship success. The study also focuses on seeing whether the empirical reality corresponds to the theoretical frame of reference around business success and 4i model by (Dutta and Crossan, 2005). The study investigates about 4i model’s relevance in entrepreneurial success. The study adopts mixed method yet this study is based on extensive secondary research and testing the relationships identified through secondary research. The theoretical basis for the study is a review of three entrepreneurial success components: the profile of the entrepreneur, the business environment and preparation for creation. Furthermore, this study empirically explores the relationship between the entrepreneur’s ability to recognize opportunity and achieve entrepreneurial success using the 4i model. The data collected through a survey of founding entrepreneurs for established companies. It was identified through the data analysis that the 4i model adopted in this study could be used ideally to analyze the success of entrepreneurs. This research had strived to set a new dimension for entrepreneurial success.

Keywords: Business success, Entrepreneurship, Entrepreneurial success, Opportunity identification, Opportunity recognition.

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