Opportunity recognition and innovation through participation
Opportunities are apparent to those who are alert and learn to recognise them, using knowl¬edge, experience and behaviour. By being active within social and industry networks, paying attention to what people say, noticing what goes on, you can recognise and imagine future
possibilities in that environment. If you identify an opportunity to create a new venture within a familiar context, you can find out how things are done and who to talk to.
Contextual learning also aids innovation: you can use your knowledge of what exists now, and combine this with imagination to create future reality. Thinking prospectively is envisaging the future and imagining how an opportunity can be created, before all the necessary knowledge or circumstances exist. This creative and associative learning brings together ideas, opportunities, technologies and resources in innovative ways. Such resources may include people and their expertise, finance, technology, information and physical resources, and acting ahead of others.