IS TEACHING PEOPLE HOW TO RECOGNIZE OPPORTUNITIES POSSIBLE

Opportunity defined - a time or set of circumstances that makes it possible to do something.

Entrepreneurship requires an opportunity (Shane & Venkataraman, 2000). Yet recognizing opportunities is complex and is one of the factors that can contribute to entrepreneurs failing or, perhaps, never actually begin the business start-up process at all. Minniti and Nardone (2007), fear of failure and ability to identify opportunities are two factors that constrain their propensity to start a venture.

Opportunity recognition is dependent on the perspective and abilities of the entrepreneur. Opportunity recognition has been described as an interaction of the individual characteristics of the entrepreneur and the factors existing or emerging in the Venkataraman, 2000). Pattern recognition will vary among individual’s existing knowledge and how that person “connects the dots”. The skills and abilities of opportunity recognition typically have a large component that is tacit knowledge.

Tacit knowledge is the knowledge that is hard to quantify or pass from one person to another through verbal or written communication. Tacit knowledge includes skills like speaking a language, playing a music instrument or carving a figurine out of a piece of wood, along with basic life skills such as facial recognition.

Tacit knowledge differs from explicit knowledge, which is easy to pass onto other people. While the transfer of explicit knowledge can be conducted quickly and impersonally, tacit knowledge generally requires long periods of personal contact, unchartered or unique teaching processes and extensive self-improvement and reflection.

It may be so tacit that many entrepreneurs attribute that cannot be taught. Yet cognition instruction can unravel these tacit skills entrepreneurship (Clydesdale, 2012) honed over time as entrepreneurs demonstrate that novice and experienced 2006).

Cognitive refers - to all aspects of human mental functions (Resnick 1984). Cognitive instruction as defined here refers to any effort on the part of the teacher or instructional materials to help the learner process information in a meaningful way and become an independent learner.