Identifying Factors of Fitness between Business Model and Entrepreneurial Opportunity for Effective Opportunity Exploitation

Abstract

The purpose of this study is to identify the factors of the business model and entrepreneurial opportunity fitness for effective opportunity exploitation. Several research results have shown that one of the reasons for the inability of businesses to survive and develop and subsequently their failure is rooted in the weakness of the fit between the components of the business model and their chosen opportunities. The focus of the business model is to achieve business goals which it's not enough and the elements of the business model on the other hand show that it does not adequately explain the performance in the economy that is changing fast and rapidly. Thus, paying attention to the alignment and fitness between entrepreneurial opportunity and business model is an important issue in creating or developing a business. This research is applied in terms of approach and qualitative in terms of method. The data from this study was collected through a semi-structured interview with 20 academic and industry experts from the ICT industry. The data analysis method involves coding in three steps: initial, open and axial coding which led to eight main categories including: level of innovation and creativity, market intelligence, quality management standards, product development, optimizing resource combination, effectiveness of learning, flexibility and agility that are components of the business model and opportunity fitness for effective exploitation of opportunities.