Characteristics of Opportunities Search of Entrepreneurs Versus Executives : Sources, Interests, General Alertness

Explores the information seeking behavior of the entrepreneur. Three hypotheses based on Kirzner's theory of entrepreneurship -- which focuses on the entrepreneur's alertness to opportunities and resources -- are tested. The hypotheses concern differences in the ways that entrepreneurs expose themselves to information, the sources of information they use, and the way they evaluate information cues. A questionnaire was used to gather data, with a sample consisting of 51 founders of companies in New Jersey and 36 executives of a large financial conglomerate. According to the results, when compared with executives, entrepreneurs spend more time searching for information in off hours, engage in more non-verbal search for information, pay more attention to cues about new opportunities, and use more nontraditional sources of information. Executives are more likely to use immediates sources and respond to economic cues. Unlike executives, the more successful and experienced they are, the less entrepreneurs tend to seek out opportunities and information. Overall, entrepreneurs are avid information gatherers and opportunistic leaders. Their information goals are often accomplished more through reading and extensive introspection than through social networking. However, as the study was not random, the sample sizes were small, and no analysis was attempted for non-respondents, the results do not stand alone as a basis for understanding information seeking in entrepreneurs; rather, this study is meant to draw attention to the area for future research. (CJC)