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The impact of novice entrepreneurs’ faith in intuition on the entrepreneurial decision-making process

Sanker, S. (2016) The impact of novice entrepreneurs’ faith in intuition on the entrepreneurial decision-making process.

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Abstract:In today’s ever changing environment, entrepreneurship contributes towards economic growth, innovation and job creation. In order to determine individuals that have a potentially higher success rate of becoming an entrepreneur in an uncertain environment, this research focuses on the individual in the entrepreneurial processes; which decision-making process – causational or effectual – is used and how can this preference be predicted. There are individual differences in how to use or operate in different modes of processing, but which style of thinking – radical or intuitive – influences the tendency of either effectuation or causation? Does a novice entrepreneurs’ faith in intuition influence the preference for using the effectual approach, based on its underlying principles? A questionnaire, covering validated scales of the dependent variables effectuation and causation and the independent variables faith in intuition and need for cognition, was digitally transmitted to novice entrepreneurs. The analysis of the data has shown that neither a person’s intuitive, nor radical thinking system causes a preference in effectual or causational decision-making. However, some of the sub-constructs of effectuation are associated with intuition. The differences in the results are supported by previous research; however, there is no evidence that the principles which are not influenced by the intuitive thinking style are contrariwise associated with radical thinking. Future research should compare novice and expert entrepreneurs, including validated scales for measuring experience and domain-specific knowledge in order to consider potential influences
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/70203
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