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Overview: Entrepreneurial opportunities may exist, independent of the actions of entrepreneurs, or may be created by the actions of entrepreneurs. The entrepreneurial opportunities are emphasized in a Creation Theory of entrepreneurship. The central assumptions of Creation Theory, and how they differ from alternative approaches to understanding entrepreneurial opportunities are described. The conditions under which Creation Theory likely applies, and the implications of these conditions for the effectiveness of different managerial tools used by entrepreneurs, are discussed. Discovery and Creation Theories are made encourages a broader debate in the field of entrepreneurship.
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