opportunity

An opportunity is a set of circumstances that makes it possible to do something or to achieve a goal. It implies favorable conditions, timing, or available resources that enable action. The word derives from Latin opportunus and entered English through French, with a long-standing sense of suitability or advantage.

In economics, opportunities arise from scarcity and choice. The concept of opportunity cost measures the value of the next-best alternative forgone when a decision is made, highlighting that choosing one path typically excludes others. This framework helps explain trade-offs in production, consumption, and investment.

In business and entrepreneurship, opportunities refer to potential ventures, markets, or innovations that may create value if pursued. Opportunity recognition involves identifying unmet needs, emerging technologies, or regulatory shifts, while exploitation requires assembling resources, coordinating activities, and managing risk.

In personal development, opportunities pertain to chances for learning, career advancement, and social or economic mobility. Access to opportunities is often influenced by networks, information, economic conditions, and institutions, and timing can be a critical factor.

Policy and governance consider opportunities in terms of enabling environments—education, infrastructure, regulation, and market reforms—that expand what individuals and firms can achieve. Opportunities can be transient or enduring, and their realization depends on resources, capabilities, and external conditions.

See also: opportunity cost, entrepreneurship, windows of opportunity, and strategic planning.