Heuristics and optimism - Towards entrepreneurial behaviour and success

Abstract

Purpose of the study: Entrepreneurial behaviour or actions do not exist in a vacuum instead are influenced by different cognitive factors such as heuristics and optimism level inherent in the entrepreneurs. Many scholars have investigated heuristics effect on entrepreneurial decision and process, but the study of heuristics and optimism regarding the behaviour of the entrepreneurs and their business performance are short-lived. Therefore, this study examined the effect of the duo factors (heuristics and optimism) on the behaviour of the entrepreneurs in their journey from the existing enterprises.Design/methodology/approach: A mixed-method was engaged in the data collection and analysis process while the entrepreneurs with the intrapreneurial background are the unit of analysis. Findings:The findings revealed a significant relationship between entrepreneurial behaviour and the selected duo factors (heuristics and optimism) of the entrepreneur. From the qualitative outcomes, many entrepreneurs agreed that both heuristics and optimism are instrumental to their entrepreneurial behaviour or actions and reflected in the individual performances and business successes.Recommendations/value: This paper, however, recommend that entrepreneurs embrace the concept of ''now', 'next' and 'new' for key performance indicator and new business deliverables. Managerial implications:This paper observed that businesses, at the cutting edge of innovation via deliberate learning and new discovery from previous task, thrive and enhance business successes.