Identifying Elements of Exploring Entrepreneurial Opportunities to Create Entrepreneurial Ideas for Community College Students

Abstract

Economic, technological and environmental changes today have the potential to provide space in exploring entrepreneurial opportunities and commercializing entrepreneurial ideas. However, this economic landscape is not seen as an entrepreneurial opportunity that can be fully utilized where only a handful of graduates take the opportunity to venture into entrepreneurship as a career. Therefore, this study aims to identify and determine the most important elements in the process of exploring entrepreneurial opportunities. Mixed method research was used in this study using Sequential Explanatory Design involving (i) Modified Delphi Technique (ii) Nominal Group Technique and Interpretive Structural Modeling. Experts involved were 12 entrepreneurial lecturers from higher institutions. There were seven elements of entrepreneurial opportunities exploration construct measured. The findings have shown that analyzing the available entrepreneurial opportunities in the market is the most important element and should be given priority while prior knowledge is in line with current needs as a last step in entrepreneurial opportunities exploration. Therefore, the findings of this study will be the most important source of reference for educators in order to optimize the selection of measures enabling the entrepreneurial activity in producing competitive technical entrepreneurs.