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JOURNAL OF MARKETING DEVELOPMENT AND COMPETITIVENESS
How to Get More Out of What You Already Know: Recognizing Opportunities and
Making Better Decisions Afterwards
Author(s): Erich N. Brockmann
Citation: Erich N. Brockmann, (2011) "How to Get More Out of What You Already Know: Recognizing Opportunities and Making Better Decisions Afterwards" Vol. 5, Iss. 2, pp. 44 - 58
Article Type: Research paper
Publisher: North American Business Press
Abstract:
We contend that entrepreneurs who are better at recognizing opportunities and making decisions do so
because they are better able to tap into their storehouses of knowledge than their peers. More
specifically, we contend that accessing tacit knowledge, which is often referred to as subconscious, has a
noticeably positive impact on one’s ability to recognize opportunities and improve subsequent decision
quality. Here, we take a pragmatic approach by suggesting several techniques intended to help
entrepreneurs to better access their tacit knowledge. Once accessed, this practical and useful knowledge
can aid in entrepreneurial opportunity recognition and decision making.
