The role of organizational learning in the opportunity-recognition process
Abstract
Firms engage in entrepreneurship to increase performance through both strategic renewal and the creation of new venture opportunities. Organizational learning (OL) has become an effective avenue for strategic renewal. But what of creating venture opportunities—can OL enhance the process of recognizing and pursuing new ventures? This article argues that OL can strengthen a firm's ability to recognize opportunities and help equip them to effectively pursue new ventures. First, we identify three approaches to OL—behavioral, cognitive, and action. Then, we introduce a creativity–based model of opportunity recognition (OpR) that includes two phases—discovery and formation. Next, we show how each of the three types of learning is linked to the two phases of OpR. We suggest propositions that support our claim that OL enhances OpR and offer examples of firms that have used these organizational–learning approaches to more effectively recognize and pursue venture opportunities. These insights have important implications for entrepreneurial firms seeking to advance the venture–creation process.
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Learning can place entrepreneurs in a better position to recognize opportunities.
“Thus, learning can put entrepreneurs in an advantageous position to recognize opportunities (Lumpkin and Lichtenstein, 2005).”
From Work hard or play hard: the effect of leisure crafting on opportunity recognition and venture performance (2023) · cites this paper as Lumpkin and Lichtenstein, 2005
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- Authors
- Lumpkin, G. T., & Lichtenstein, B. B.
- Affiliations
- University of Illinois Chicago (US)
- University of Massachusetts Boston (US)
- Corresponding author
- Lumpkin, G.T.
- Lichtenstein, Benyamin Bergmann
- Venue
- Entrepreneurship Theory and Practice
- Publisher
- SAGE Publications
- Published
- 2005-07
- Volume
- 29
- Issue
- 4
- Pages
- 451-472
- ISSN
- 1042-2587 (ISSN-L)
- 1540-6520
- OpenAlex
- W1993301352
- Cited by
- 590
- References
- 111
- Citations by year
- 2026: 18 · 2025: 13 · 2024: 20 · 2023: 38 · 2022: 33 · 2021: 36 · 2020: 32 · 2019: 33 · 2018: 36 · 2017: 35 · 2016: 40 · 2015: 41 · 2014: 34 · 2013: 36 · 2012: 31
- FWCI
- 49.63
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Entrepreneurship Theory and Practice (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Innovation and Knowledge Management
- Social Sciences › Business, Management and Accounting › Management of Technology and Innovation › Entrepreneurship Studies and Influences
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Organizational Learning and Leadership
- Keywords
- organizational learning, opportunity recognition, startups, behavioral learning, cognitive learning, action learning, creativity, strategic renewal, entrepreneurial firms
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