A psychological model of entrepreneurial decision making

Miao, Qing; Liu, Ling

doi:10.2224/sbp.2010.38.3.357

Cited by 21 publications

(13 citation statements)

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“…• These capabilities, which an individual develops idiosyncratically, help them perceive and identify opportunities. Miao and Liu (2010) Role of alertness and prior knowledge…”

Section: Gaglio and Katz (2001) Entrepreneurial Alertnessmentioning

confidence: 99%

A systematic literature review of entrepreneurial opportunity recognition: insights on influencing factors

et al. 2014

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In the last three decades, research studies investigating how individuals recognize entrepreneurial opportunities have advanced rapidly and have become a key topic in the modern entrepreneurship literature. To advance this important concern further, we present a systematic literature review of the entrepreneurial opportunity research field and its status. Contrary to conventional wisdom, this research suggests that the field is fragmented and empirically underdeveloped. A comprehensive literature analysis shows that only a handful of authors have contributed specifically to developing dialogues related to opportunity recognition and that the topic is considered primarily as an ancillary issue by many authors and academic journals. Based on analyzing 180 articles, we classify existing contributions into six influential factors: prior knowledge, social capital, cognition/personality traits, environmental conditions, alertness, and systematic search. Moreover, by developing a framework, we communicate critical insights regarding the opportunity recognition process. The contribution of individual articles to the proposed factors is presented in a research synthesis table. We conclude by presenting several directions for future research related to opportunity recognition. Int Entrep Manag J

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“…• These capabilities, which an individual develops idiosyncratically, help them perceive and identify opportunities. Miao and Liu (2010) Role of alertness and prior knowledge…”

Section: Gaglio and Katz (2001) Entrepreneurial Alertnessmentioning

confidence: 99%

A systematic literature review of entrepreneurial opportunity recognition: insights on influencing factors

et al. 2014

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“…Previous researchers have also found that opportunity identification is a critical factor in decision making (Miao & Liu, 2010). Opportunity identification includes filtration, selection, and refinement (Bhave, 1994).…”

Section: Entrepreneurial Decision Makingmentioning

confidence: 99%

Error Orientation and Entrepreneurial Decision Making in Chinese Enterprises: Opportunity Identification As Mediator

Xu-bin

Hisrich

2016

soc behav pers

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We examined how error orientation and opportunity identification behavior relate to entrepreneurial decision making in Chinese small and medium enterprises (SMEs) and how these perceptions of opportunity identification mediate the effects of error orientation on entrepreneurial decision making. We analyzed 187 questionnaires from participants in SME firms in China. The results indicated that perceived error orientation and opportunity identification were related to and explained variance in entrepreneurial decision making. Opportunity identification also fully or partially mediated the relationship between error orientation and entrepreneurial decision making. Elevating opportunity identification beliefs and clarifying an entrepreneur's understanding of the importance of opportunity identification for the functionality and effectiveness of his/her firm can help promote entrepreneurial decision making. Alertness to error orientation can contribute to the development of stronger perceptions of entrepreneurial opportunity identification and lead to better entrepreneurial decision making.

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“…According to Miao and Liu (2010), entrepreneurial decision making refers to the choices made by entrepreneurs when faced with entrepreneurial opportunities. It has the attributes of conventional decision making, such as risk, process, and irreversibility.…”

Section: Literature Reviewmentioning

confidence: 99%

“…However, implicit in entrepreneurial decision making are unique features. It is undeniable that the process from opportunity recognition to entrepreneurial decision making is subject to the moderating effects of other variables (Miao & Liu, 2010). The results of a study done by Forlani and Mullins (2000) suggest that better understanding is needed about how entrepreneurs search for and process information about business situations and how such information processing influences entrepreneurial behavior.…”

Section: Literature Reviewmentioning

confidence: 99%

Critical assessment of risk-taking behavior and economic performance of male entrepreneurs in the Centurion central business district in South Africa

Holtzhausen

Naidoo

2016

Investment Management and Financial Innovations

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According to Zinkhan and Karande (1990), risk is encountered when an individual’s action produces social and economic consequences that cannot be projected with certainty. Zinkhan and Karande (1990) also see risk averseness as the propensity to avoid taking risks and are generally conceived as a personality variable. Levitt (1990) argues that the ways in which business managers handle risk can markedly affect economic performance and the standard of living in various societies. It was, thus, imperative that this study coupled risk-taking ability with economic performance amongst male entrepreneurs in Centurion. The entrepreneurial phenomenon remains a widely researched topic. Extensive research with regards to the attributes of entrepreneurs has been done in the recent past. It has, thus, become important to better understand South African entrepreneurial behavior, as not many local studies has been done on the topic. The purpose of this study is to establish whether the identified factors affect the risk taking behavior of male entrepreneurs within the Centurion CBD. The risk-taking behavior of male entrepreneurs versus their economic performance was also investigated. By gaining an understanding of the risk taking behavior of the population, recommendations for future studies could be made. This study is based on a deductive approach to establish possible factors which might affect the risk-taking behavior of male entrepreneurs within the Centurion central business district. It also investigates the relationship between their risk-taking behavior and their economic performance. The researcher established possible factors from the literature and adopted and modified the DOSPERT scale developed by Weber, Blais and Betz (2002). Quantitative data were obtained within the population of 161 respondents. The results indicate a strong correlation between the factors identified and the risk-taking behavior of the entrepreneurs, except for the factor ethnic background. It was also found that a strong relationship exists between risk-taking behavior and economic performance

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A psychological model of entrepreneurial decision making

Cited by 21 publications

References 0 publications

A systematic literature review of entrepreneurial opportunity recognition: insights on influencing factors

A systematic literature review of entrepreneurial opportunity recognition: insights on influencing factors

Error Orientation and Entrepreneurial Decision Making in Chinese Enterprises: Opportunity Identification As Mediator

Critical assessment of risk-taking behavior and economic performance of male entrepreneurs in the Centurion central business district in South Africa

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