Finding the first among equals: role of cognitive styles in entrepreneurial decision-making of novices

Martin Stienstra; Raja Singaram; Michel Ehrenhard

Finding the first among equals: role of cognitive styles in entrepreneurial decision-making of novices

Faculty of Behavioural, Management and Social Sciences

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic

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Abstract

Effectuation theory explains how expert entrepreneurs differ in decision-making during situations of high uncertainty and low information availability. Exploring the cognitive reasoning behind effectual decision-making offers fertile ground for research as well as teaching entrepreneurship. Cognitive styles have proved to be useful in studying information processing and decision-making of individuals. With increasing attention being paid to entrepreneurial, cognition, researchers have also studied the role cognitive styles in entrepreneurial decision-making. Using a sample of 400 university students from Germany and the Netherlands we investigate the relationship between the participants' cognitive style and their preference for making Causal versus Effectual decision-making. We find a strong relationship between the causal decision-making and the cognitive style index score as well as the affordable loss aspect of effectuation through our ANOVA analysis. We present our case for why these relationships matter in designing entrepreneurship education.

Original language	English
Title of host publication	3rd Effectuation Research and Teaching Conference, December 8-9, 2014, Enschede, The Netherlands
Place of Publication	Enschede
Publisher	Netherlands Institute for Knowledge Intensive Entrepreneurship (NIKOS)
Number of pages	10
Publication status	Published - 8 Dec 2014
Event	3rd Effectuation Research and Teaching Conference 2014: Practicing Effectuation: Individual, Organizational, and Societal Impact - University of Twente, Enschede, Netherlands Duration: 8 Dec 2014 → 9 Dec 2014 Conference number: 3

Conference

Conference	3rd Effectuation Research and Teaching Conference 2014
Country/Territory	Netherlands
City	Enschede
Period	8/12/14 → 9/12/14

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title = "Finding the first among equals: role of cognitive styles in entrepreneurial decision-making of novices",

abstract = "Effectuation theory explains how expert entrepreneurs differ in decision-making during situations of high uncertainty and low information availability. Exploring the cognitive reasoning behind effectual decision-making offers fertile ground for research as well as teaching entrepreneurship. Cognitive styles have proved to be useful in studying information processing and decision-making of individuals. With increasing attention being paid to entrepreneurial, cognition, researchers have also studied the role cognitive styles in entrepreneurial decision-making. Using a sample of 400 university students from Germany and the Netherlands we investigate the relationship between the participants' cognitive style and their preference for making Causal versus Effectual decision-making. We find a strong relationship between the causal decision-making and the cognitive style index score as well as the affordable loss aspect of effectuation through our ANOVA analysis. We present our case for why these relationships matter in designing entrepreneurship education.",

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publisher = "Netherlands Institute for Knowledge Intensive Entrepreneurship (NIKOS)",

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note = "3rd Effectuation Research and Teaching Conference 2014 : Practicing Effectuation: Individual, Organizational, and Societal Impact ; Conference date: 08-12-2014 Through 09-12-2014",

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Stienstra, M, Singaram, R & Ehrenhard, M 2014, Finding the first among equals: role of cognitive styles in entrepreneurial decision-making of novices. in 3rd Effectuation Research and Teaching Conference, December 8-9, 2014, Enschede, The Netherlands. Netherlands Institute for Knowledge Intensive Entrepreneurship (NIKOS), Enschede, 3rd Effectuation Research and Teaching Conference 2014, Enschede, Netherlands, 8/12/14.

Finding the first among equals: role of cognitive styles in entrepreneurial decision-making of novices. / Stienstra, Martin; Singaram, Raja; Ehrenhard, Michel.
3rd Effectuation Research and Teaching Conference, December 8-9, 2014, Enschede, The Netherlands. Enschede: Netherlands Institute for Knowledge Intensive Entrepreneurship (NIKOS), 2014.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic

TY - GEN

T1 - Finding the first among equals: role of cognitive styles in entrepreneurial decision-making of novices

AU - Stienstra, Martin

AU - Singaram, Raja

AU - Ehrenhard, Michel

N1 - Conference code: 3

PY - 2014/12/8

Y1 - 2014/12/8

N2 - Effectuation theory explains how expert entrepreneurs differ in decision-making during situations of high uncertainty and low information availability. Exploring the cognitive reasoning behind effectual decision-making offers fertile ground for research as well as teaching entrepreneurship. Cognitive styles have proved to be useful in studying information processing and decision-making of individuals. With increasing attention being paid to entrepreneurial, cognition, researchers have also studied the role cognitive styles in entrepreneurial decision-making. Using a sample of 400 university students from Germany and the Netherlands we investigate the relationship between the participants' cognitive style and their preference for making Causal versus Effectual decision-making. We find a strong relationship between the causal decision-making and the cognitive style index score as well as the affordable loss aspect of effectuation through our ANOVA analysis. We present our case for why these relationships matter in designing entrepreneurship education.

AB - Effectuation theory explains how expert entrepreneurs differ in decision-making during situations of high uncertainty and low information availability. Exploring the cognitive reasoning behind effectual decision-making offers fertile ground for research as well as teaching entrepreneurship. Cognitive styles have proved to be useful in studying information processing and decision-making of individuals. With increasing attention being paid to entrepreneurial, cognition, researchers have also studied the role cognitive styles in entrepreneurial decision-making. Using a sample of 400 university students from Germany and the Netherlands we investigate the relationship between the participants' cognitive style and their preference for making Causal versus Effectual decision-making. We find a strong relationship between the causal decision-making and the cognitive style index score as well as the affordable loss aspect of effectuation through our ANOVA analysis. We present our case for why these relationships matter in designing entrepreneurship education.

M3 - Conference contribution

BT - 3rd Effectuation Research and Teaching Conference, December 8-9, 2014, Enschede, The Netherlands

PB - Netherlands Institute for Knowledge Intensive Entrepreneurship (NIKOS)

CY - Enschede

T2 - 3rd Effectuation Research and Teaching Conference 2014

Y2 - 8 December 2014 through 9 December 2014

ER -

Finding the first among equals: role of cognitive styles in entrepreneurial decision-making of novices

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