The entrepreneurial mind - torn between beliefs, attitude, cognition, and behavior

Abstract

Entrepreneurship is about making decisions: whether or not to exploit a recognized opportunity, how to interact with potential customers or competitors, which financial source to pursue, how to select a team, and many more. Most of these decisions are made under circumstances of imperfect information that involves a high level of uncertainty. Coping with such circumstances requires cognitive effort. While some individuals tend towards heartfelt cognition styles with intuitive decisions, others prefer analytical decisions from the head. This work investigates the relationship between cognition styles and decision-making logics and additionally places constructs such as problem-solving ability, self-efficacy, or reflection skills as crucial determinants for entrepreneurial decision-making. In a twofold study, this dissertation quantitatively and qualitatively investigates how the determinants relate to each other and which insights could be derived from that investigation. Both studies contribute to the understanding of cognition styles and decision-making logics in an entrepreneurial environment. By introducing novel determinants to the Theory of Planned Behavior, this dissertation opens the door for practical and educational implications.