The study of entrepreneurial opportunity recognition and exploitation in industrial clusters: Based on the perspective of social networks

There has been a resurgence of interest in the research of spatial economy especially in the study of industrial clusters over the past decade. Also, social network has become an emerging topic for more and more researchers. Industrial clusters have some distinct characteristics as network such as social contact, trust and resource sharing. Entrepreneurs are important to regional economy in the course of extending social networks and accumulating social capital, which brings technology innovation advantage to corporations and increases competitive ability. Entrepreneurial opportunity recognition, exploitation and innovation activities of opportunity pursue are important components of entrepreneurship in clusters. Successful opportunity identification and exploitation are associated with the existence and use of an extended social network. In this article, the author firstly analyzed the network characteristics of industrial clusters and entrepreneurial opportunity recognition and exploitation in industrial clusters, then social networks in clusters will be described on intensity and structural points. At last, based on the perspective of social networks, the author proposed a entrepreneurial opportunity recognition and exploitation model in industrial clusters. We pointed out that dense networks and strong ties can stimulate trust and diffuse of tacit and sensitive information, accelerate flow of information and knowledge, which can be propitious to opportunity exploitation. On the other hand, sparse networks, weak ties and structural hole can help to acquire hot news and information, extend networks, increase the efficiency of information and knowleage flow, which can be propitious to opportunity recognition. Moreover, Process of self-learning can help entrepreneurs improve their innovation ability, rectify the warp during opportunity implement, then promote opportunity exploitation. The continuously deepening and interactional process between opportunity recognition, exploitation and social networks can help to promote development of enterprises in industrial clusters.