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An identified area where the ideas of an entrepreneur can visualize value creation limited only to who they are, what they know, can do and want. It is defined by the social world we live in and in particular the opportunities provided by unmet needs, trends and wants of potential customers.

Cover of Frederick, O'Connor, Kuratko (2019), Entrepreneurship Theory Process Practice (Melbourne: Cengage) Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019).

opportunity space
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