The notion that enterprise opportunities are waiting to be discovered has been opposed by researchers, who instead believe they are created by entrepreneurs. A study from the Texas University in Dallas offers a third view-the actualization methodology-as a possibility. Dr. Eric Tsang, Dallas World Salute Distinguished Professor in Global Strategy in the Naveen Jindal School of Management, recently published the paper in the Academy of Management Review, asserting that entrepreneurial opportunities cannot exist objectively, as proposed by the discovery approach. He compares such an opportunity to an apple seed, which has the capability of growing into an apple tree, if the potential is actualized. The potential is the specific aspect which objectively exists.
Tsang notes that his undertaking has implications in the entrepreneurship education domain. The framework which the actualization methodology lays out entails an imagination on the future state of the globe, coming up with an idea, implementing it believing it will succeed, and then reviewing the process.