Opportunity Classification

Opportunities emerge from …

… a complex pattern of changing conditions in:

• technology

• economy

• politics

• society

• demography

→ specific juxtaposition or confluence which did not exist previously

Classification of opportunities by …

• Type

• Characteristic

• Mechanism

• Role

opportunity classification Type

Classified by origin

• Technological

• Regulatory

• Demographic

• Socio-Cultural

• Macroeconomic

• Political

• Natural-environmental

opportunity classification Characteristics

Influence actionability and market potiental

• Scope (the larger the more promising)

  • spatial

  • temporal

  • sectoral

  • socio-demographic

• Onset

  • predictability/suddenness

opportunity classification Mechanism

Specify the cause-effect relationship

• Combination

• Compression

• Conservation

• Enclosing

• Expansion

• Generation

• Legitimation

• Substitution

• Uncertainty Reduction

opportunity classification Role

Situate effects by venture creation stage

• Triggering

• Shaping

  • Offer

  • Venture

  • Process

• Outcome-enhancing

opportunity classification: mechanism Compression

Reduction in the amount of time required to perform an activity

opportunity classification: mechanism Conservation

Reduction in the amount of resources required to perform an activity

opportunity classification: mechanism (Resource) Expansion

Increase in the amount of resource that is accessible

opportunity classification: mechanism (Resource) Substitution

Replacement of one resource with another

opportunity classification: mechanism Combination

Coupling with external resources or artifacts to provide functionality

opportunity classification: mechanism Generation

Allowing the creation of new artifacts (devices, functionalities, business models)

opportunity classification: mechanism Uncertainty Reduction

Reduction in the perceived uncertainty of any business decision of buyers or sellers

opportunity classification: mechanism Legitimation

Increase in the legality or psychological/sociocultural acceptability of the venture or its offerings

opportunity classification: mechanism (Demand) Expansion

Increase in demand at a given price and given functionality

opportunity classification: mechanism (Demand) Substitution

Increase in demand that is due to making a focal venture‘s market offerings (perceived as) more needed/attractive (positive substitution) or to making competitive offerings perceived as less needed or attractive (negative substitution)

opportunity classification: mechanism Enclosing

Increase in a venture‘s ability to capture the loyalty of buyers and the value it creates

definition opportunity

end-state that can be actualized through action when the necessary conditions (are believed to) exist