About the Scholar: Pioneer Scholar Yuxin is from Shanghai, China, where she attended Shanghai Pinghe Bilingual School
The Research:
Opportunity recognition is when entrepreneurs identify opportunities to introduce new products or services, organize new events, or start new companies. One of the most common sources that can lead us to identify opportunities is our social connections. Yuxin researched how four different types of social networks – family members, friends, acquaintances, and third parties – influence opportunity recognition.
Through a questionnaire that she constructed, Yuxin found that “strong ties,” such as close friends and especially family, may be more influential than “weak ties” like acquaintances and third parties, but that all four networks have positive influences on opportunity recognition.
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