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Entrepreneurship and Chance: Evidence of Happy Coincidences, Serendipity, Synchronicity, Black Swan Events, or the “Hand of God”?
Abstract
The unpredictability of business activities means that entrepreneurs should find a way to adapt and embrace chance. The traditional and predefined process logic offers little support for today's complex and dynamic business environment. One tenet that shaped the direction of entrepreneurship research is the view that the entrepreneurial opportunity discovery and development is linear, systematic, and rational, that is, it is assumed that all factors are measurable and knowable. However, unknowable instances of coincidence, randomness, and chance factors can play a significant role in new venture creation. The authors propose that these factors point to the nonlinear and acausal phenomenon of chance. This research proposal intends to address entrepreneurs' alternative mechanisms, other than the classic formal planning model, to harness opportunities or overcome setbacks arising from chance. To achieve our purpose, the authors examine qualitative data drawn from entrepreneurial activity of Spain and Portugal.
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