Influence of Entrepreneurial Experience, Alertness, and Prior Knowledge on Opportunity Recognition

Abstract

The influence of Chinese university students' entrepreneurial experience, alertness, and prior knowledge on opportunity recognition was examined using the novice–experienced entrepreneurs contrast paradigm. After viewing a self-made opportunity situation, 94 entrepreneurial university students and 114 nonentrepreneurial university students were instructed to complete via email or paper and pencil tests measures of opportunity recognition, entrepreneurial alertness, and prior knowledge. The results showed that entrepreneurial alertness significantly and directly predicted opportunity recognition, whereas prior knowledge significantly and indirectly affected opportunity recognition through its impact on entrepreneurial alertness. The entrepreneurial alertness of nonentrepreneurial university students significantly influenced their opportunity recognition; in contrast, the prior knowledge of entrepreneurial university students greatly influenced their opportunity recognition. Practical implications for entrepreneurial training and future directions for research on opportunity recognition are discussed.