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In this paper we review the results of an empirical research of a number of organisations. The research shows a difference in the evaluation of a business model of an organization by the entrepreneur and by the researchers. It shows, based on an extensive list of questions, the decision to be taken on strategic level differs by entrepreneurs compared with the decision to be taken by researchers based on the same set of questions. The paper goes into the field of entrepreneurs and the factors why they drive their own business like they do and how they gather data and process this data to prepare for a decision on strategic level. The paper describes how cognitive possibilities of the entrepreneur, biases and heuristics, experience and type of personality influence the decision making process. Finally future implications are mentioned as how to influence the process of decision making at strategic level by entrepreneurs in order to be able to have a more objective decision process based on facts rather than on gut feeling.
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Source: Entrepreneurial Decision Making and the Effect on Business Models PDF document
Entrepreneurial Decision Making and the Effect on Business Models
It applies to All Industries.
File Size: 1006.5 KB
Number of Pages: 21
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Initial upload date (first version): May 24, 2013
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