University of Twente Student Theses
Blinded by passion? The effect of entrepreneurial passion on the effectual approach of uncertainty by entrepreneurs
Mannes, L.T. (2023) Blinded by passion? The effect of entrepreneurial passion on the effectual approach of uncertainty by entrepreneurs.
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| Abstract: | This study contributes to the understanding of what drives entrepreneurs to follow different decision-making approaches. There is a need for further understanding of the motivations and behavior of entrepreneurs using effectuation strategies. It is suggested that in an environment that poses many uncertainties an effectual approach is more likely to be used. On the other hand, it is also suggested that entrepreneurial passion makes entrepreneurs less sensitive to contrary market information and keeps them focused on their goals. This suggests a high degree of passion can blind entrepreneurs for uncertainties, which will lead to less effectual approaches. This study focusses on the way entrepreneurial passion effects the entrepreneurs’ perception of uncertainty and their usage of effectuation strategies. Validated measurement scales of decision-making strategies, entrepreneurial uncertainty and entrepreneurial passion were combined in a questionnaire and filled out by 90 Dutch software entrepreneurs. The analysis of the data shows that entrepreneurial passion for inventing, founding and developing is not significantly related to perceived state, effect and response uncertainty. Also, no moderating effect was found of the degree of entrepreneurial passion on the relationship between perceived uncertainty and effectuation strategies. Passionate entrepreneurs do not seem to be blinded by their passion in pursuing their goals. Other individual factors seem to play a more significant role in predicting the decision-making strategy. More research is needed to explain the complex way entrepreneurial decisions are made. |
| Item Type: | Essay (Master) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | Business Administration MSc (60644) |
| Link to this item: | https://purl.utwente.nl/essays/96681 |
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