Unleashing entrepreneurship: experimenting with the unknown

Abstract

The case revolves around two entrepreneurs Ahmed and Ali and explains their entrepreneurial behaviours that led to different ventures. Ahmed had a background in civil engineering and work experience in building construction, while Ali graduated in mechanical engineering and worked as senior mechanical engineer in a company at Muscat. Their complementary skills led to several entrepreneurial ventures in Muscat. Ahmed closed down his businesses at Tanzania due to unfavourable political and economic conditions and started them in Muscat. Entrepreneurs pursue opportunities regardless of the resources they have to achieve them, where they largely depend on others to help them mobilise tangible and intangible assets to establish new ventures. The case study explains how entrepreneurs exploit business opportunities and the influence of antecedent and external factors on entrepreneurial careers. It teaches that entrepreneurs use innovative methods and exploit changes in introducing new products, services and processes, which earn high income and profit. It explains that entrepreneurs look at uncertainties in the market and business environment as new business opportunities, which they exploit to achieve high income, profit, competitive advantage and growth. Furthermore, it underpins the importance of innovation; human and social capital as contributing factors to success in entrepreneurial ventures.