Entrepreneurial Opportunity Recognition,Strategic Orientation And Performance Of New Ventures

Entrepreneurship research as an important field of management studies is becoming more and more emphasized."Entrepreneurial economy" is a crucial feature of the21st century which leads the society moving towards an entrepreneurial era. As new ventures, especially in seed and early stage, how to survive in the market competition, is a hot issue in entrepreneurship researches. The real situation of China’s entrepreneurial activities is characterized by entrepreneurial opportunities and entrepreneurial motivations, but lack of good entrepreneurial capabilities. Unlike mature enterprises, new ventures will always need to adjust strategic orientation base on the existing opportunities, which is determined by the nature of new ventures and the limited resource situation they faced. Exploring the mechanism of how new ventures start from the entrepreneurial opportunities to achieve a good entrepreneurial performance through accurate strategy formulation is an urgent and emerging problem to be solved.The article reviewed domestic and international scholars’studies on opportunity recognition, strategic orientation and new venture performance. Subsequently, base on the review of literature, designed the questionnaire and a total number of166valid questionnaires were received. After descriptive statistical analysis and examination of the reliability and validity of the data obtained, factor analysis and structural equation statistical methods are used for hypothesis testing and model fitting. The default model and hypotheses are supported. The study clarified the two-dimension characteristics of entrepreneurial opportunity recognition and raised the research framework of "opportunity recognition-strategic orientation-new venture performance" to explore the mechamism between the three constructs. The study enriches the idea of entrepreneurship research and provides a practical reference to the new venture opportunity recognition and strategic orientation.