All small business owners are not necessarily entrepreneurial. A small business owner starts a venture as a means of earning a living. An entrepreneurial business owner will convert an opportunity into a venture and would seek further opportunities to grow the business. It appears that the difference between the two lies in their potential for opportunity recognition, which is an essential constituent of entrepreneurship (Shane and Venkataraman, 2000). Stevenson and Jarillo (1990) claim that the skill of opportunity recognition, irrespective of the availability of resources, is the “heart of entrepreneurship”. According to several authors, the potential for opportunity recognition (ORP) represents the skill of the entrepreneur to recognize those ideas which have commercial viability, evaluate them in the context of customer needs, understand the availability of resources, and finally convert them into business ventures (Singh et al., 1999; Krueger, 2001; Shane et al., 2003, and Sarason et al., 2006). The entire process of opportunity identification, opportunity evaluation and opportunity implementation is influenced by both the entrepreneur’s personal and interpersonal attributes (Shane and Venkataraman, 2000; Short et al., 2010). Shane and Venkataraman (2000), distinguished between those entrepreneurs who had higher ORP and those entrepreneurs who had lower ORP on the basis of characteristics such as possession of financial capital, social ties with resource providers, greater self-efficacy and motivation to achieve. Variability amongst the entrepreneurs on these attributes was found to decide their performance in terms of recognizing profitable opportunities (Alvarez and Busenitz, 2001). In addition to the steps in opportunity recognition and differences in the characteristics of entrepreneurs that provide for variation in ORP, the stage of entrepreneurship has also been found to add to this variation (DeTienne, 2010). Entrepreneurship follows a cycle of three phases, which begins with the planning to create a venture, is followed by the creation of an enterprise and ends with ensuring sustenance and growth of the enterprise (Reynold and Curtin, 2009). Current research has named these phases as pre-stage, early-stage and late-stage of entrepreneurship. Prior research studies on ORP of entrepreneurs were limited to its examination in the initial phase of entrepreneurship (idea generation) and that each strand of research was confined to the influence of a particular attribute on ORP. There was a lack of studies that integrated both the attributes and the stages to examine the influence of the attributes on ORP of entrepreneurs along the different stages of entrepreneurship. Thus, the objectives of this research study are to find whether the stages of entrepreneurship affect ORP of entrepreneurs, the attributes that would influence ORP of entrepreneurs, and how their influence on ORP of entrepreneurs would differ across the stages. The attributes considered for this study were social capital, cognitive styles, self-efficacy and motivation of entrepreneurs. Each of these attributes was further divided into their sub-types, i.e., bridging and bonding for social capital, intuitive, adaptive and analytical for styles of cognition, hope of affiliation or fear of rejection for affiliation motivation, hope for success or fear of failure for achievement motivation and hope of power or fear of loss of power for power motivation. To attain these objectives, this study hypothesized and tested for several relationships. To begin with, the presence of ORP for entrepreneurs in the different stages of entrepreneurship and variations in these attributes which influenced ORP of entrepreneurs who were in different stages of entrepreneurship were hypothesized for in H1 and H2. The next attempt was to identify those attributes which affected the potential for opportunity recognition in those entrepreneurs who were found to have high and low ORP, and this was hypothesized in H3. This comparison would help delineate those attributes which would contribute to higher ORP of entrepreneurs. The scope of the study was then extended to explore if differences in personal and interpersonal attributes of entrepreneurs would lead to differences in their ORP. Hence, this research study tested if those attributes which would significantly influence ORP of entrepreneurs who were found to have high social capital and self-efficacy were different from those attributes which would significantly influence ORP of those entrepreneurs who were found to have low social capital and self-efficacy. The study also intended to find if ORP of entrepreneurs and the attributes influencing their ORP differed for those entrepreneurs who were found to use different styles of cognition and different types of motivations. These relationships were stated in hypotheses H4. Before examining the above stated hypotheses, a preliminary study was conducted to critically assess the clarity of items in the existing ORP scale. Data was collected for this preliminary study from 251 students and 24 entrepreneurs (a total of 275 ). All the students were second year post-graduates of the Business Administration programme after having done an undergraduate programme in engineering. These students have a higher probability of starting their own business and can be used as surrogates for entrepreneurs (Khera & Benson, 1970, Gaglio & Katz, 2001). An analysis of the preliminary study using item-to-total correlations and Cronbach’s alpha values was then done to revise the ORP questionnaire. The analysis of the preliminary study helped trim down 11 items in the ORP questionnaire. The original scale consisting of 24 items was thus revised to 13 items. This 13-item revised questionnaire was used to collect responses from entrepreneurs in the main study. The main study considered those entrepreneurs who were at different stages of venture creation, i.e., pre-stage (118), early-stage (73) and late-stage (88). Pre-stage entrepreneurs were potential entrepreneurs who were either enrolled for a two-year full-time programme in entrepreneurship or enrolled for elective courses in entrepreneurship as part of their postgraduate programme in management. Early-stage entrepreneurs were business owners who had started their business and their business was less than 3 years old (Korunka et al., 2003). Late-stage entrepreneurs were business owners who had businesses which were more than 3 years old (Korunka et al., 2003). The hypotheses H1, H2, H3 and H4 were tested using ANOVA, correlations and multiple linear regressions. The results of the ANOVA did not show sufficient evidence to support H1, i.e. ORP was not found to increase linearly but was instead, found to follow a ‘U’ shaped curve. The results obtained by correlation and regression analyses showed that hypotheses H2a and H2b were not supported and that both bridging social capital and self-efficacy did not influence the ORP of pre-stage entrepreneurs but that both types of social capital were important for ORP of pre-stage entrepreneurs. The hypotheses H2c and H2d were supported, which meant that the ORP of pre-stage entrepreneurs was significantly influenced by their cognition style and their motivation by hope and not motivation by fear. The study did not find evidence sufficient enough to support the hypotheses H2e, H2f and H2h about the early-stage entrepreneurs, but found sufficient evidence to support hypothesis H2g. These results indicated that ORP of early-stage entrepreneurs was influenced only by bonding social capital (instead of the expectation that they would be influenced by both types of social capital) and cognitive style. A frequency analysis of early-stage entrepreneurs indicted that their cognition style was analytical. The hypotheses H2j and H2k were not supported whereas H2i was supported and H2l was partially supported. This indicated that ORP of late-stage entrepreneurs was influenced by bonding social capital and that they were motivated by hope, particularly by hope for power. A frequency analysis of late-stage entrepreneurs indicated that their cognitive style was predominantly analytical. Among the demographic attributes, the age of the pre-stage and of the late-stage entrepreneurs and gender of the early-stage entrepreneurs were found to influence their ORP respectively. These findings further revealed that pre-stage entrepreneurs were found to be optimistic about their ORP and it was found to be significantly influenced by their social capital (both bridging and bonding) and cognitive style. The early-stage entrepreneurs were realistic and bonding social capital and their cognitive style were found to significantly influence their ORP. Late-stage entrepreneurs were experienced and thus their ORP was found to be significantly influenced by their bonding social capital and motivation by hope for power. These results have been described in Chapter 4. The study then used quartiles to divide entrepreneurs into four groups. Entrepreneurs who had scores less than and equal to quartile one-46 (Low-ORP) were compared with those entrepreneurs who had scores greater than and equal to the third quartile-55 (High-ORP). A binary logistic regression (BLR) analysis was conducted to examine if the division of potential for opportunity recognition (ORP) based on the quartiles was powerful enough to predict the effect of the independent variables on the dependent variable (ORP). The Chi-square values showed that the classification was robust enough to predict the ORP of entrepreneurs. The third set of hypotheses H 3 was then tested using the multiple linear regression and results revealed that the evidence was insufficient to support H3a, H3b, H3c and H3d. Bonding social capital was found to significantly influence the ORP of those entrepreneurs who had high ORP and cognitive style was found to significantly influence the ORP of those entrepreneurs who had low ORP. An F-test was used to investigate whether the difference in personal and interpersonal attributes of entrepreneurs could lead to difference in attributes affecting ORP of entrepreneurs. Later, a K-mean cluster analysis was used to identify homogenous groups of entrepreneurs with high dissimilarity between clusters, based on both the personal and interpersonal attributes that were found to significantly influence their ORP. The F-test scores showed that the attributes which divided the entrepreneurs into three groups were ORP, social capital, cognition style and self-efficacy. The F-test scores did not show motivation as an attribute that could significantly distinguish between entrepreneurs of the three groups. These results have been described in Chapter 5. The study further obtained new groups using quartiles to divide the entrepreneurs who had high (28 and 29) and low social capital (24) and high (30) and low (24) self-efficacy. The chi-square values of the binary logistic regression indicated that the models were robust enough to distinguish between those entrepreneurs who were found to have high and low self-efficacy and those entrepreneurs who were found to have high and low social capital. The results of multiple linear regressions found evidence to support hypotheses H4a, H4b and H4d. The demographic attributes age and education, were found to significantly influence the ORP of those entrepreneurs who had high bridging social capital. Cognitive style was found to significantly influence the ORP of those entrepreneurs who had high bonding social capital. Self-efficacy, cognitive style and age were found to significantly influence the ORP of entrepreneurs who had low bridging social capital. Cognitive style, work experience and age were found to significantly influence the ORP of entrepreneurs who had low bonding social capital. Bonding social capital and motivation by hope for success were found to significantly influence ORP of entrepreneurs who had high self-efficacy. Cognitive style and work experience were found to significantly influence ORP of entrepreneurs who had low self-efficacy. Subsequently, an analysis was done to identify attributes which significantly influenced the ORP of entrepreneurs who were found to use adaptive and analytical styles of cognition by using multiple linear regressions. Based on the results, the study found sufficient evidence to support the hypothesis H4c. The attributes that significantly influenced ORP of those entrepreneurs who used adaptive style were bridging social capital, and motivation by hope for success, work experience and age and attributes found to significantly influence ORP of those entrepreneurs who used analytical style of cognition were bonding social capital and gender. To conclude, the results of the study highlighted the importance of social capital, cognitive style and age for ORP of entrepreneurs from across all the stages and groups. There was very little evidence to support the role of self-efficacy and no evidence to support the role of motivation in influencing the ORP of those entrepreneurs who were in any stage and in any of the high and low groups. This study has developed a theoretical perspective on the role of ORP of entrepreneurs who are in different stages of entrepreneurship. It has also suggested a rationale for the use of social capital by entrepreneurs. The findings of this study would assist in guiding pre-stage entrepreneurs to develop realistic expectations while implementing their projects, and would help early-stage entrepreneurs persist with their ventures against any initial setbacks therefore findings of this study can be judiciously used for training potential entrepreneurs in the field of opportunity recognition.

Bakgrund: I dagens globaliserade samhälle är länder till stor del sammanknutna ochmarknader betraktas snarare som nätverk av relationer än som klassiska marknader därolika aktörer verkar oberoende av varandra. Existerande forskning utgår i hög grad frånantagandet att små och medelstora företag redan har utvecklade affärsnätverk somsträcker sig över hemlandets gränser vid tidpunkten för internationalisering. Emellertidhar empiriska studier visat att många av dessa företag faktiskt saknar internationellanätverk vid företagsetablering utomlands. En situation som kan leda till stora problem närdet kommer till att förstå det nya affärsklimatet, att identifiera internationellaaffärsmöjligheter samt att skapa tillit till nya utländska affärspartners. Syfte: Syftet med denna studie är att skapa förståelse för svenska entreprenörer sometablerar sig på den franska marknaden och franska entreprenörer som etablerar sig påden svenska. Vidare söker uppsatsen att klargöra huruvida förekomsten av ett socialtnätverk kan hjälpa dessa entreprenörer att övervinna problemet med liability offoreignness samt hur sociala nätverk påverkar skapandet av entreprenörersaffärsmöjligheter. Metod: Denna flerfallsstudie genomfördes med en kvalitativ forskningsstrategi och haren abduktiv ansats. Det empiriska materialet omfattar 12 semistrukturerade intervjuer. Slutsats: Studiens resultat visar att sociala nätverk har en inverkan på skapandet avaffärsmöjligheter, framförallt när det kommer till valet av marknad att gå in på samt föratt skapa förståelse för den nya kulturen. Vidare drar entreprenörer stor nytta avkundernas sociala nätverk. Därtill visar resultaten att inte alla internationellaentreprenörer upplever liability of foreignness. Det finns istället indikationer på någotstudiens författare kallar “possibility of foreignness”. / Background: In today's globalized world, countries are largely interconnected, andmarkets are considered as networks of relationships rather than as classic markets wheredifferent actors operate independently of one another. Existing research is largely basedon the assumption that SMEs have business networks that extend beyond the borders oftheir home country at the time of internationalization. However, empirical studies haveshown that many companies actually lack international networks when setting upcompanies abroad. A situation that can lead to major problems when it comes tounderstanding the new business climate, identifying international business opportunitiesand building trust in new foreign business partners. Purpose: The purpose of this study is to create an understanding for Swedishentrepreneurs who start a business on the French market and French entrepreneurs whostart a business on the Swedish market. Furthermore, the thesis seeks to clarify whetherthe existence of social networks can help these entrepreneurs overcome the problem ofliability of foreignness and how social networks affect the creation of entrepreneurs'business opportunities. Method: This multiple case study was conducted with a qualitative research strategy andan abductive approach. The empirical data comprises 12 semi-structured interviews. Conclusion: The results of the study show that social networking indeed has an impacton the creation of business opportunities, especially when it comes to choosing whichmarket to enter and to help understanding the new culture. Furthermore, entrepreneursbenefit greatly from customers' social networks. However, the study shows that not allinternational entrepreneurs experience liability of foreignness. Instead, there areindications of something the authors call “possibility of foreignness”.

A significant proportion of the population engages in entrepreneurial behavior but many ventures do not survive beyond startup thus decreasing the pool of entrepreneurs available to contribute to the economy. Opportunity recognition is central to entrepreneurial success and the improper delineation of opportunities is cited as a leading cause of venture failure. There is a logical link between creativity, innovation and entrepreneurship. The goal of the researcher in this study was to explore the relationships between CPS training and the generation of entrepreneurial ideas. The investigation studied the relationship of training in creative problem solving (CPS) to the opportunity identification skills of entrepreneurial learners. It was hypothesized that CPS training would positively impact attitudes relating to divergent thinking, would increase the number of opportunities identified and would increase the quality of opportunities identified. The tutorial was targeted at novice entrepreneurs who were in the initial stages of identifying an opportunity. Quality at this early stage in the venture formation process was defined as the degree to which the idea meshed with the learner's interests and passions and the extent to which they possessed prior experience. An experimental research design was used and participants were randomly assigned to either a treatment or control group. There were no statistically significant differences in composition between the treatment and control groups. There were statistically significant differences found in one of the two divergent thinking constructs - the tendency to make premature evaluations. Two measures of ideational fluency were tested. No statistically significant differences were found in fluency for the post-test/pre-test measure within the treatment group or between the treatment and control group. Statistically significant differences were found in the number of unique ideas generated post-test/pre-test (within the treatment group and between the treatment and control group) and statistically significant differences were also found in the unique bottles measure (within group only). There were no statistically significant differences found in the 4 quality measures. The findings in this study have the potential to strengthen the link between the enhancement of creative performance and the generation of entrepreneurial ideas. The research also holds the potential to provide practical guidelines for use of instructional techniques for training in opportunity recognition but also more broadly across the continuum of entrepreneurship education. The objective of the training was to increase the size and the quality of the venture idea pool that entrepreneurs draw from when initiating ventures.

Zahlreiche Arbeiten im Bereich der Entrepreneurship-Forschung versuchen aus unterschiedlichen disziplinären Perspektiven zu erklären, warum manche Menschen Opportunities wahrnehmen und unternehmerisch tätig werden und andere nicht. Dies wird in der Literatur als "Opportunity Recognition" (OR) bezeichnet und weitgehend als Kernelement im entrepreneurialen Prozess beschrieben. Aufgrund dieser Bedeutung von Opportunity Recognition entwickelten sich zahlreiche Erklärungsansätze, die als ökonomische, psychologische oder sozio-kognitive Perspektiven in die Entrepreneurship-Forschung eingeführt wurden. Die vorherrschende Trennung in disziplinenspezifische Erklärungsansätze hat zwar ihre Berechtigung, liefert jedoch bisher unbefriedigend integrative Erkenntnisse. In Abgrenzung zu anderen Arbeiten betrachtet dieser Beitrag Opportunity Recognition auf Basis subjektiver Theorien von Entrepreneuren. Der integrative Ansatz der subjektiven Theorien bietet das Potential disziplinenübergreifend Hinweise auf mögliche Einflussfaktoren der OR in subjektiven Theoriebeständen zu untersuchen. Ziel der Arbeit ist zu erforschen, welche inhaltlichen und strukturellen Charakteristika subjektive Theorien von Entrepreneuren aufweisen und inwiefern sich Logiken und/oder Strategien für die Identifikation einer Opportunity in ihnen widerspiegeln. Dazu wurde eine empirische Rekonstruktion der Strukturlogik subjektiver Theorien von Entrepreneuren auf Basis von narrativen Interviews und objektiv-hermeneutischen Interpretationsverfahren durchgeführt. Die Ergebnisse dieser Arbeit liefern vielfältige Erkenntnisse hinsichtlich der Strukturen und Inhalte von subjektiven Theorien von Entrepreneuren sowie ihrer Entwicklung. Sie verweisen auf die zentrale Bedeutung sozialer Interaktionskontexte des Entrepreneurs, sowohl für die Ausprägung subjektiver Theoriebestände im Allgemeinen als auch für die Schärfung von Opportunities und ihrer Verwertung im Speziellen. Zudem wird deutlich, dass sich subjektive Theoriebestände hinsichtlich ihres Abstraktions- und Komplexitätsgrades sowie ihrer zeitlichen Stabilität maßgeblich unterscheiden. Die Erkenntnisse der vorliegenden Arbeit lassen Zweifel an der Sinnhaftigkeit einer auf ein analytisches Konstrukt "Opportunity" fokussierten Forschung aufkommen. Als Alternative wird das umfassendere Konzept der subjektiven Unternehmertheorie vorgeschlagen, das die Relevanz mentaler Modelle von Unternehmern und das ihnen inhärente Integrationspotential für unterschiedliche Einflussfaktoren und Erklärungsansätze für OR verdeutlicht. (Autorenref.)

Sammanfattning De senaste åren har tidsbegränsade bygglov blivit allt mer förekommande inom byggbranschen. Bostadsbyggnation är ett nationellt aktuellt ämne då bostadsbyggande inte förväntas avta i och med den bostadsbrist som råder i delar av Sverige. Därför ämnar denna studie undersöka hur företagare ser affärsmöjligheter i tidsbegränsade bygglov. Affärsmöjligheter är ett brett begrepp som är väl studerat och kan tolkas på olika sätt. I denna studie har vi valt att avgränsa affärsmöjligheter till tidigare erfarenheter och hur dessa kan vara avgörande för en företagare i dess beslutsfattande. På bostadsmarknaden är i många kommuner efterfrågan på bostäder högre än utbudet. Det skapar ett rådande problem som företagare ser affärsmöjligheter i att kunna avhjälpa med hjälp av att snabbt kunna påbörja byggnation med hjälp av tidsbegränsade bygglov. Regeringen arbetar ständigt med att underlätta lagar och regleringar för att underlätta användandet av tidsbegränsade bygglov. Några väl etablerade skribenter när det kommer till affärsmöjligheter är bland andra Baron & Ensley (2006), Saravathy (2001) samt Gudonavicius & Fayomi (2014). Dessa påpekar att erfarenheter spelar stor roll i beslutsprocessen, samt hur innovativitet och imitativitet hos företagare påverkar beslutsfattandet. Den teoretiska referensramen grundas på sekundär data publicerad av väl etablerade forskare inom affärsmöjligheter och bygglov vilka utgör studiens huvudrubriker. För att finna dessa publikationer har följande sökord används: Bygglov, tidsbegränsat bygglov, detaljplan, affärsmöjlighet, business opportunity, opportunity recognition, causation and effectuation, innovativ, imitativ. Studien är skriven utefter en kvalitativ metod där fem företagare aktiva inom tidsbegränsade bygglov blivit intervjuade på telefon. Intervjupersonerna är funna efter register insamlade från Kungsbacka kommun, Halmstad kommun, Göteborgs kommun samt Gävle kommun. Även via tips och rekommendationer från funna kontakter i samband med sökandet efter intervjupersoner till empirin. Författarna har i intervjuerna utgått från en intervjuguide och intervjuerna har därmed blivit öppna och varit möjliga att anpassa efter varje företagare och situation. Intervjuerna har skett kvalitativt för att ge en bred förståelse kring användandet av tidsbegränsade bygglov. Studiens analys framför att det i fångandet av affärsmöjligheter krävs att en företagare är aktiv, har förmågan att se trender och mönster på en marknad, samt hur den framtagna teorin stämmer överens med studiens intervjupersoner och hur de verkar i respektive företag. I analysen lyfts även skillnaden mellan en prövande och rationell beslutsprocess fram, och att det i praktiken kan vara svårt att dela in företagare i den ena eller den andra kategorin. Det viktigaste är att ha ett tydligt definierat mål, samt att hålla flexibilitet under projektets gång för att kunna bemöta problem som kan uppstå så effektivt som möjligt. Något som även lyfts fram i analysen är hur regleringar runt omkring bygglovsansökningar även påverkar ansökningsprocessen, exempel på dessa är planmonopol och detaljplaneprocessen. Tidsbegränsade bygglov innebär en kortare ansökningsprocess än den vid permanent bygglov. Studiens utfall visar att det skiljer sig i hur affärsmöjligheter uppstått vilket påverkat hur företagarna beslutat sig för att ta sig an projekt med tidsbegränsade bygglov. Hos alla respondenter finns en tydlig vinstfokusering, därmed inte sagt att denna endast är av ekonomisk karaktär. Vinst för företagarna kan även vara till exempel en möjlighet att etablera sig på marknaden.

This study explores the role of self-regulation in opportunity recognition by pioneering an investigation of the influence of two antecedent factors: chronic regulatory focus and media on opportunity recognition. 155 students participated in a two-stage experimental design that first measured chronic regulatory focus, and in the second stage primed situational regulatory focus through the use of media stories. Participants then engaged in an opportunity recognition exercise, identifying opportunities to apply the smart phone technology to the South African market. The measured outcome was the number and quality of opportunities identified. Findings did not yield a significant relationship of chronic regulatory focus and opportunity recognition as expected, but however demonstrate that media plays an influence in opportunity recognition. The potential role of motivational individual differences and prior knowledge factors in opportunity recognition highlighted in this study provide a broad array of opportunities for further research to advance the field of entrepreneurship.Copyright / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

<p>Being entrepreneurial is pathly being creative. This Master thesis presents a business plan of BEFCO Trading Ltd geared towards solving a problem in the Cameroonian Economy. The English speaking Cameroonians of South West and North West provinces of Cameroon are presently underserved with car sales offerings as there is presently no registered Company in this section of the Country.</p><p>An attempt is presently being made through this business plan thanks to the peaceful and favourable circumstances sorrounding the entrepreneurs and the opportunity gap of a niche market. The business plan shows a win to win situation in which the founding entrepreneurs become self employed by solving a problem in the market through novel business combinations.</p>

Being entrepreneurial is pathly being creative. This Master thesis presents a business plan of BEFCO Trading Ltd geared towards solving a problem in the Cameroonian Economy. The English speaking Cameroonians of South West and North West provinces of Cameroon are presently underserved with car sales offerings as there is presently no registered Company in this section of the Country. An attempt is presently being made through this business plan thanks to the peaceful and favourable circumstances sorrounding the entrepreneurs and the opportunity gap of a niche market. The business plan shows a win to win situation in which the founding entrepreneurs become self employed by solving a problem in the market through novel business combinations.

This study seeks to make a theoretical contribution to the rapidly growing field of International Entrepreneurship by investigating the process of internationalization of Small and Medium Enterprises (SMEs). Bell, McNaughton, Young & Crick, (2003) emphasized the need for researchers to re-conceptualize their thinking on the internationalization process of smaller firms. While there has been substantial research done on the small business internationalization and how the participation of these firms in the global economy has fuelled economic growth in a number of countries (Audretsch & Thurik, 2003; Acs, Randall Morck, Shraver & Yeung, 1997; Storey, 1994; Alam & Pacher, 2003), there is tangible evidence that SMEs in Australia are not keeping up with global trends. Studies conducted on Australian firms allude to the following reasons for their constrained presence in international markets: (i) geographic and psychic distance; (ii) costs disadvantage; (iii) overdependence on inward FDI from large foreign multinationals; (iv) a history of inward-looking and narrowly focussed economic development policies of the Australian government. These factors had the combined effect of imbalanced economic growth which was particularly detrimental to the small business sector (Australian Trade Commission, 2002; Maitland & Nicholas, 2002; Alam & Pacher, 2003). Despite the identified obstacles, some Australian SMEs have succeeded in penetrating international markets. This study involved a preliminary qualitative investigation of selected Australian SMEs and their unique internationalization process. Evidence from the case study based investigation will indicate that the respondent firms have leveraged on entrepreneurial qualities to overcome the obstacles and enhance their success in international markets. As such, the internationalization process for these selected firms is seen as an extension of and integral to their entrepreneurial behaviour. Using the lenses provided by relevant facets of the entrepreneurship, internationalization and strategy scholarly fields, this exploratory qualitative study, while building the foundation for further empirical research into the internationalization process of SMEs, can serve as a guide to researchers for ascertaining future directions in this emergent field. The findings from the study are intended to contribute to a body of knowledge encompassing the cross-border operations of SMEs. The research also has value from a practical perspective as Australian SMEs can draw from this body of knowledge as they pursue opportunities internationally.

Purpose:The purpose of this study is to explore the differences in opportunity recogni-tion as well as the different motivations between would-be and experienced entrepre-neurs. Design/ Methodology/ Approach:The paper builds up on a deductive research ap-proach. Six qualitative interviews provided the researchers with empirical data to the phe-nomenon of opportunity recognition and the influencing aspect of human motivation. These data were analyzed in a comparative study, using a creativity based model of en-trepreneurial opportunity recognition and thehierarchy of needs from Abraham Harold Maslow, as the mostpopular framework in motivational theory. Findings:The research study provided significant insights into the opportunity recogni-tion of would-be and experienced entrepreneurs. The researchers identified differences in the evaluation stage of opportunity recognition between would-be and experienced entre-preneurs. Would-be entrepreneurs demonstrated a more cautious evaluation, taking into consideration all the resources which they did not possess yet. Whereas the experienced entrepreneurs demonstrated an awareness for all the resources that they were already holding due to their previous experience as entrepreneurs. With regards to the human motivation experienced entrepreneurs tend to reach and to satisfy higher needs than would-be entrepreneurs. Achievements and financial outcomes, usually belonging to es-teem needs, are for experienced entrepreneurs rather the result of a successful self-actu-alization. Instead would-be entrepreneurs had their focus on the improvement of their current situation. The paper provided deepened insights about the connectivityof human needs of would-be and experienced entrepreneurs and the interrelation of human motiva-tionto opportunity recognition. Contribution:On the base of the intense discussion about entrepreneurial contributions to the national and international economies, the researchers were able to provide an im-proved understanding of opportunity recognition comparing theexperienced entrepre-neurs and those who would like to become entrepreneurs. The analysis of influencing aspects like the human motivation enablesthe adjustment of entrepreneurship programs.Considering the results,the developmentand alignment ofentrepreneurship promotionscan be improved.Successful addressingand motivatingof individuals by entrepreneur-ship programs support theseindividuals to engage entrepreneurial.