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Entrepreneurial Strategic Decision-Making

A Cognitive Perspective

9781847209030 Edward Elgar Publishing

Edited by Patrick A.M. Vermeulen, Radboud University Nijmegen and Petru L. Curseu, Associate Professor, Department of Organisation Studies, Tilburg University, The Netherlands

Publication Date: 2008 ISBN: 978 1 84720 903 0 Extent: 264 pp

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Strategic choices made by entrepreneurs have major consequences for SME performance. This book explores the factors that influence entrepreneurial strategic decisions using a cognitive theoretical framework.

The proposed model, based on a dual processing approach, integrates motivation, emotions and information processing modes and is tested in several empirical studies. The results show the model’s potential for furthering interesting research agendas in entrepreneurial cognition research. The authors also reveal that entrepreneurial cognitions can be elicited and represented in the form of cognitive maps. The structural complexity of the cognitive maps (cognitive complexity) is an important prerequisite of effective strategic decisions and is a core concept for the advancement of our knowledge in entrepreneurial cognition. The book is an informed and interesting exploration of entrepreneurial cognition with both theoretical and methodological contributions to this field of research.

Entrepreneurial Strategic Decision-Making will be of great interest to undergraduate students and academics in the field of entrepreneurship. Policymakers will learn from this book to understand the distinctions between various types of entrepreneurial decision-makers and the way they make strategic decisions.

Critical Acclaim

‘This book is a commendable source of reference for entrepreneurship researchers. It offers insight into a number of focused research accounts that may assist other researchers in their entrepreneurship research proposals and execution. . . the literature review section will be of particular value to such early scholars of the field. The book is highly recommended for postgraduate entrepreneurship students and would be worthy of filling a space on any active entrepreneurship researcher’s bookshelf.’
– David Douglas, International Journal of Entrepreneurial Behaviour and Research

Contributors

Contributors: R.M. Bakker, S. Bosgra, P.L. Curseu, M.J.J. de Kort, P. Gibcus, D. Louwers, G.J.M. Lucas, E. Radulova, D.G.W.M. van Gestel, P. van Hoesel, J. van den Elshout, P.A.M. Vermeulen

Contents

Contents:

Preface

1. Entrepreneurs and Strategic Decisions
Patrick A.M. Vermeulen and Petru L. Curseu

PART I: OVERVIEW OF THE LITERATURE
2. The Decision-making Entrepreneur: A Literature Review
Petra Gibcus, Patrick A.M. Vermeulen and Elissaveta Radulova

3. The Psychology of Entrepreneurial Strategic Decisions
Petru L. Curseu, Patrick A.M. Vermeulen and René M. Bakker

4. The Role of Cognitive Complexity in Entrepreneurial Strategic Decision-making
Petru L. Curseu

PART II: EMPIRICAL STUDIES
5. Strategic Decision-making Processes in SMEs: An Exploratory Study
Petru Gibcus and Peter van Hoesel

6. Entrepreneurial Decision Styles and Cognition in SMEs
Gerardus J.M. Lucas, Patrick A.M. Vermeulen and Petru L. Curseu

7. Entrepreneurial Decision-makers and the Use of Biases and Heuristics
Marijn J.J. de Kort and Patrick A.M. Vermeulen

8. Risk, Uncertainty and Stakeholder Involvement in Entrepreneurial Decision-making
Jaap van den Elshout and Patrick A.M. Vermeulen

9. Entrepreneurial Experience and Innovation: The Mediating Role of Cognitive Complexity
Petru L. Curseu and Dinie Louwers

10. Social Capital, Cognitive Complexity and the Innovative Performance of SMEs
Daniëlle G.W.M. van Gestel

11. Cognitive Complexity, Industry Dynamism and Risk Taking in Entrepreneurial Decision-making
Sjoerd Bosgra

12. Conclusions: An Outline of ESDM Research
Petru L. Curseu and Patrick A.M. Vermeulen

References

Index