Using the Ikigai Model to Create Efficiency During Entrepreneurial Business Opportunity Recognition

Abstract

There is a lack of an interdisciplinary approach that is necessary to better understand how to create efficiency during entrepreneurial business opportunity recognition. This paper evaluates literature from different academic disciplines and applies the bodies of work to the ikigai business model to identify ways to create efficiency in entrepreneurial business opportunity recognition. First, this paper defends the ikigai business model as the appropriate framework for the application of interdisciplinary literature. Second, this paper discusses literature relevant to creating efficiency during business opportunity recognition. Third, the relevant literature is applied to the ikigai business model, which presents new insights towards techniques that can be used to create efficiency during entrepreneurial business opportunity recognition. Using the new insights, this paper proposes and justifies a new model to create efficiency during entrepreneurial business opportunity recognition. This new model may be used within and beyond the academic community. The application of academic literature to the ikigai model demonstrates its academic merit, which further reinforces the new model.