Cross-industry opportunity exploitation in the new space economy: Configurations of identity, beliefs, and capabilities

Abstract The new space economy (NSE) provides a rich context in which managers from both established firms and startups exploit entrepreneurial opportunities across industry boundaries. Anchored in a microfoundational perspective on entrepreneurial action, we conceptualize identity, opportunity beliefs, and individual-level capabilities as interdependent microfoundational conditions whose alignment within distinct configurational pathways jointly shapes cross-industry opportunity exploitation rather than any single factor in isolation. Although prior research acknowledges the interrelation of these factors, it often overlooks how they combine and the tensions individuals face when aligning them. Addressing this gap, we examine how distinct configurations of identity, opportunity beliefs, and capabilities shape opportunity exploitation. We apply fuzzy-set qualitative comparative analysis (fsQCA) based on data from 60 managers in the NSE, a cross-industry context that reflects increasing interconnectedness across industries. Our study identifies two configurations associated with high opportunity exploitation: Cross-Industry Orchestrators are not reliant on a strong identification with their origin industry; rather, they combine distinct capabilities to apply a wide range of knowledge to industry-specific problems. Industry-Rooted Problem Solvers maintain a strong sense of belonging to their origin industry while effectively absorbing problem-related knowledge from other industries. Additionally, we identify two configurations with lower opportunity exploitation: The Motive-Lacking Isolationist and the Non-Absorbing Networker .