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The existing research based on the paradigm of Environmental Adaptation Theory leads to an explanation of entrepreneurial mental process from a extrinsic, historical and static view. They also cannot explain why entrepreneur choose to open a new company themselves instead of selling entrepreneurial opportunities to others which can also brings entrepreneurial profits. This study is based on the paradigm of Constructivism. Our model systematically explains entrepreneurial process from the view of mental model presencing by borrowing theories from Humanistic Psychology. The process is divided into 3 stages——Opportunity Emergence, Value Realization, and Value Diffusion, while Value Realization has 3 steps——Value Focus, Policy Establishment, and Mode Anchor. The exclusivity of entrepreneurial opportunity is from the implicitness of entrepreneurial mental model in the first stage. New value realization is highly relied on entrepreneurial mental model, which is the source of new company's mission, vision, and core competence.

A Study on the Mechanism of New Value Creation From the View of Entrepreneurial Mental Model Presencing