Reconciling diverse approaches to opportunity research using the structuration theory

Structuration theory (ST) is used to reconcile six approaches to opportunity research that emphasize either the recognition or formation of entrepreneurial opportunity. While opportunity recognition focuses on the restricting role of business and social structure on entrepreneurial activity, opportunity formation emphasizes the creation of opportunities by the entrepreneur. In contrast to this dichotomy, ST argues that recognition and formation are recursively implicated because it dissolves the dichotomy between structure and agency, thus showing how entrepreneurial action is both enabled and constrained by the conscious selection, imitation, and modification of business scripts by entrepreneurs. The implications for opportunity research and practice are discussed.