Binary effects of exploratory and exploitative learning on opportunity identification: The different moderations of envi
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Binary effects of exploratory and exploitative learning on opportunity identification: The different moderations of environmental munificence and entrepreneurial commitment Chao Wang1 · Xiu‑e Zhang1 Received: 22 January 2019 / Revised: 28 August 2020 / Accepted: 23 September 2020 © Springer Nature Limited 2020
Abstract This study builds on organizational learning theory to develop and test the binary effects of exploratory and exploitative learning on opportunity identification, using data from 285 founders of new ventures in China. We find that the positive effects of the two learning styles on opportunity identification are moderated by entrepre‑ neurial commitment and environmental munificence. Given the differences between exploratory learning and exploitative learning, we verify the different moderat‑ ing effects of environmental munificence and entrepreneurial commitment on the relationship between the two learning styles and opportunity identification. Inter‑ estingly, entrepreneurial commitment and environmental munificence both have higher moderating effects on the link between exploitative learning and opportunity identification. These findings provide significant insight from theoretical perspec‑ tive, and practical implications for the new ventures that aim to pursue the valuable opportunities. Keywords Exploratory learning · Exploitative learning · Opportunity identification · Entrepreneurial commitment · Environmental munificence
Introduction Opportunity identification, defined as a cognitive process through which individuals can obtain new information from different sources, identify seemingly unconnected ‘dots’, and evaluate the value of opportunities to create new products or services * Xiu‑e Zhang [email protected] Chao Wang [email protected] 1
Business School, Jilin University, No. 2699 Qianjin Street, Changchun 130012, China Vol.:(0123456789)
C. Wang, X. Zhang
(Baron 2006; Tang 2008), is a key event in the entrepreneurial process (Shamsudeen et al. 2017; Venkataraman 1997). A growing body of research has shed light on the roles of entrepreneurial learning in opportunity identification (Holcomb et al. 2009; Minniti and Bygrave 2001; Westhead and Wright 2011). Entrepreneurs often learn in two ways, namely exploratory learning and exploitative learning (Atuahene-gima and Murray 2007). Given the differences of information and knowledge acquisition between exploratory learning and exploitative learning, researchers have directed their attention to understanding the relationship between different learning types and opportunity identification (Marvel and Lumpkin 2007; Tseng 2013; Wun and Cheung 2016; Zhao et al. 2011). Although prior studies have generated valuable insights, the different effects of exploratory learning and exploitative learning in opportunity identification and the reasons behind them remain understudied. Building on organizational learning theory (March 1991), we examine the rela‑ tionship between exploratory/exploitative learning and opportunity identification. Expl
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