dc.description.abstract | Most developing countries are characterized by the rise and growth of SMEs. SMEs play
a central role in terms of economic development and employment. However, despite their
huge contribution in the society, debate still lingers in terms of how entrepreneurs
recognize and exploit opportunities. This study investigated the role of prior knowledge,
entrepreneurial cognition, social networks, entrepreneurial alertness and personality traits
in the successful recognition and exploitation of opportunities. The study was guided by
three objectives: to identify how mall scale manufacturers in Nairobi recognize
opportunities, to find out their capabilities to exploit opportunities and to establish the
factors influencing successful opportunity recognition and exploitation among small scale
manufacturers in Kariobangi Light Industries. The study was conducted among small
scale manufacturers in Kariobangi Light Industries in Nairobi County. A quantitative
research approach was used and a descriptive survey design. A questionnaire was
administered to a sample of 39 respondents using a simple random sampling technique.
The data collected was analyzed quantitatively using descriptive and inferential statistics.
The study was guided by three theories: the Schumpeterian theory, Entrepreneurship
theory and Kirzenian theory. In terms of findings, coefficient of determination revealed
that personality traits, prior knowledge, social networks, entrepreneurial alertness and
entrepreneurial cognition had a significant positive effect on successful opportunity
recognition and exploitation. The study found and concluded that these factors influenced
opportunity recognition and exploitation among small scale manufacturers in Kariobangi
Light Industries and had an immense impact on the initiation and operation of these small
scale manufacturers. The study recommends that a study of these factors influencing
opportunity recognition and exploitation should be done in other parts of Kenya and
should include all types of businesses. | en_US |