How Do Entrepreneurs Form Social Business Opportunity Beliefs? An Opportunity Actualization Perspective
Abstract
The opportunity actualization perspective has recently gained attention as a key framework for exploring entrepreneurial opportunity. The perspective’s theorizing, however, predominantly focuses on profit-driven opportunities, limiting its applicability across the spectrum of entrepreneurial behavior. To broaden applicability, we examine how entrepreneurs motivated by social and economic considerations form their opportunity beliefs. We use a qualitative research approach that combines think-aloud protocols and semi-structured interviews with 24 impact entrepreneurs. Our findings allow us to develop a holistic model of social business opportunity belief formation, incorporating market and non-economic considerations, emphasizing the role of non-market stakeholders. We derive important implications for both theory and practice.
Fields of Study & Subjects
Entrepreneurship Studies and Influences
Innovation and Socioeconomic Development
Family Business Performance and Succession
Publication details
- Journal / source
- Entrepreneurship Theory and Practice
- Publisher
- SAGE Publications
- Volume
- 50
- Issue
- 4
- Pages
- 1185–1221
- Publication date
- 13 January 2026
- Language
- EN