Definition (1):
The window of opportunity refers to the time period in which a firm or an entrepreneur can realistically enter a new market. Once the market for a new product is established, its window of opportunity opens. As the market grows, firms enter and try to establish a profitable position. At some point, the market matures, and this window closes.
Definition (2):
“A window of opportunity is a short, often fleeting time period during which a rare and desired action can be taken.”
It is also known as the critical window. It is a short span of time when some endeavor can be taken that will attain the desired result. Once this time is over, or the window is closed, the possibility of taking the opportunity is no longer available. In some situations, it can be possible to plan for and predict a window of opportunity and then perform accordingly when this window opens. However, in many cases, an unforeseen opportunity arises, and it is up to entrepreneurs to recognize the opportunity and act accordingly.
In circumstances with unpredictable or very brief windows of opportunity, entrepreneurs can employ automation for taking advantage of these windows.