Exploring how entrepreneurs make decisions on the growth of their business: A cognitive perspective

The purpose of this study was to explore how entrepreneurs, who are past the start-up stage of business, evaluate and make decisions on growth opportunities. Small business growth is a complex, dynamic and episodic phenomenon and prior research on firm growth has emphasised cross-sectional approaches, rather than view growth as a dynamic process over time. Understanding small business entrepreneurs’ cognition and behaviours when making opportunity-related decisions will show how growth decisions are made. It is still unclear what cognitive styles and knowledge structures entrepreneurs use to process and frame information for opportunity-related decision-making. A closer look at opportunity evaluation, decision-making and entrepreneurial cognition revealed fragmentation, research gaps and areas for future research recommended by key scholars. As a consequence of this, an integrated process approach was taken using these three research streams. Specifically, a cognitive style lens, as a complex construct with multiple dimensions was used for viewing opportunity-related decisions, an approach missing from the opportunity evaluation literature. Additionally, the study was conceptually underpinned by dual process theory, the cognitive experiential self-theory or CEST. A longitudinal, concurrent triangulation design was used to explore the decision-making process over five time points in a two-year period. A mixed methods approach supported the pragmatic paradigm for an exploratory study. A multiple-case strategy used a sample of 11 small manufacturing entrepreneurs, from novice to mature, with 3-30 years’ experience as owner-manager. Data was collected at each time point using semi-structured interviews and two style assessments, the CoSI and REI. Quantitative data was analysed using descriptive statistics and thematic analysis for the qualitative data. Combining interviews and psychometric questionnaires for triangulation produced robust findings. Data was used to construct cognitive maps and cognitive complexity for insight. Findings showed entrepreneurs were high on more than one style and switched between styles according to context, demonstrating styles were orthogonal. A unique finding was a synthesised, versatile style observed as a ‘mirror effect’ between the analytical and intuitive styles. Novices developed a more intuitive style over time, contingent with experience. A developing link in the novices’ mental structures showed how past experience increased cognitive complexity and connectivity. A further unique finding showed the central concept ‘Thinks it through’ in the decision process as a structural conduit or 'Hub' for both analytical and intuitive processing. Analysis suggested that cognitive complexity mediated the relationship between creative and experiential information styles and successful opportunity-related decision-making effectiveness. These unique findings show opportunity-related decisions as a dynamic, time-based process. The time-based model provided a framework for future opportunity evaluation research as a contribution to theory. Likewise, a dual process and information processing perspective has offered an alternative structure for examining opportunity evaluation. Finally, a teaching model was developed to improve metacognitive thinking and connectivity for decision-making effectiveness as a contribution to practice

The Structured Process Modeling Method (SPMM) : what is the best way for me to construct a process model?

More and more organizations turn to the construction of process models to support strategical and operational tasks. At the same time, reports indicate quality issues for a considerable part of these models, caused by modeling errors. Therefore, the research described in this paper investigates the development of a practical method to determine and train an optimal process modeling strategy that aims to decrease the number of cognitive errors made during modeling. Such cognitive errors originate in inadequate cognitive processing caused by the inherent complexity of constructing process models. The method helps modelers to derive their personal cognitive profile and the related optimal cognitive strategy that minimizes these cognitive failures. The contribution of the research consists of the conceptual method and an automated modeling strategy selection and training instrument. These two artefacts are positively evaluated by a laboratory experiment covering multiple modeling sessions and involving a total of 149 master students at Ghent University

The Structured Process Modeling Theory (SPMT): a cognitive view on why and how modelers benefit from structuring the process of process modeling

After observing various inexperienced modelers constructing a business process model based on the same textual case description, it was noted that great differences existed in the quality of the produced models. The impression arose that certain quality issues originated from cognitive failures during the modeling process. Therefore, we developed an explanatory theory that describes the cognitive mechanisms that affect effectiveness and efficiency of process model construction: the Structured Process Modeling Theory (SPMT). This theory states that modeling accuracy and speed are higher when the modeler adopts an (i) individually fitting (ii) structured (iii) serialized process modeling approach. The SPMT is evaluated against six theory quality criteria

Self-regulated learning in higher education : identifying key component processes

The concept of self-regulated learning is becoming increasingly relevant in the study of learning and academic achievement, especially in higher education, where quite distinctive demands are placed on students. Though several key theoretical perspectives have been advanced for self-regulated learning, there is consensus regarding the central role played by student perceptions of themselves as learners. There are two general aims of this positional article. The first is to emphasise self-regulated learning as a relevant and valuable concept in higher education. The second is to promote the study of those constituent elements considered most likely to develop our understanding beyond a mere description of those processes thought to be involved in self-regulated learning. A case is presented for learning style, academic control beliefs and student self-evaluation as key constructs which contribute to an increased understanding of student self-regulated learning and which facilitate the application of self-regulated learning in pedagogy by enhancing its tangibility and utility

Meaning Management: A Framework for Leadership Ontology

Leadership is a multifaceted and complex subject of research and demands a sound ontological stance that guides studies for the development of more integrative leadership theories. In this paper, I propose the leadership ontology PVA (perception formation – value creation – achievement realization) and associate it with the two existing leadership ontologies: TRIPOD (leader – member – shared goals) and DAC (direction – alignment – commitment). The leadership ontology PVA, based on a new theory called “meaning management,” consists of three circularly supporting functions: cognitive function to form perception, creative function to generate value, and communicative function to realize higher levels of achievement. The PVA is an epistemology-laden ontology since the meaning management theory allows one to make propositions that explicitly link its three functions with the leadership outcomes: perception, value, and achievement. Moreover, the PVA leadership ontology transcends and includes both the conventional TRIPOD ontology and the DAC ontology

The use of electronic voting systems in lectures within business and marketing: a case study of their impact on student learning

This article presents a case study of the impact on student learning of introducing an electronic voting system (EVS) into large‐group lectures for first‐year undergraduate students undertaking degrees in marketing and business systems. We discuss the potential for using EVS‐style interactive lectures in marketing and business programmes. We then describe how we planned the session and selected and implemented the EVS system. We go on to present an evaluative research project, which was undertaken on the innovation using case‐study methodology, and assess its impact on student learning. Data for the evaluation were collected through questionnaire and focus groups with a sample of students. The data were analysed using thematic analysis. The findings show how students perceived the use of EVS in large lectures and how their learning was affected. A ‘three‐fold typology’ emerged that explains how students related to the EVS and how their perceptions of EVS changed over time. The discussion links these findings to the literature on different paradigms of learning and teaching, using Renshaw’s framework, and examines how the EVS‐style lectures promote deep and active learning within the constructivist, social constructivist and metacognitive learning paradigms identified in Renshaw’s model. The conclusions show how the use of a user‐friendly EVS in large lectures motivates students, develops students’ cognitive and social learning skills, and improves learning effectiveness

Role of Cognitive Style of a Manager in the Development of Tourism Companies’ Dynamic Capabilities

Purpose – The purpose of this paper is to investigate the relationship between cognitive styles of managers working in tourism companies and dynamic capabilities of these companies. Design – The research relies on a quantitative questionnaire. Methodology – To answer the research question, the bivariate (Pearson) correlation was applied. A number of 268 answers from people working in tourism were received. Findings – We found a positive correlation between different dimensions of dynamic capabilities of tourism companies. These capabilities are influenced by managers’ cognitive characteristics. The organizational culture plays a mediating role in the latter relationship. Implications for theory – The paper offers an alternative understanding of dynamic capabilities in tourism and hospitality; the paper also opens new paths for academic research on the impact of cognitive characteristics of managers on the dynamic capabilities of tourism companies. Implications for practitioners – Making accurate psychological portrait of the candidate can predict his/her behavior in certain situation, such as response towards environmental change using dynamic capabilities and when making the necessary changes to the organizational culture. Originality – This study proposes model of influence of a manager’s cognitive style on dynamic capabilities, whereby organizational culture moderates this relationship

What is Strategic Competence and Does it Matter? Exposition of the Concept and a Research Agenda

Drawing on a range of theoretical and empirical insights from strategic management and the cognitive and organizational sciences, we argue that strategic competence constitutes the ability of organizations and the individuals who operate within them to work within their cognitive limitations in such a way that they are able to maintain an appropriate level of responsiveness to the contingencies confronting them. Using the language of the resource based view of the firm, we argue that this meta-level competence represents a confluence of individual and organizational characteristics, suitably configured to enable the detection of those weak signals indicative of the need for change and to act accordingly, thereby minimising the dangers of cognitive bias and cognitive inertia. In an era of unprecedented informational burdens and instability, we argue that this competence is central to the longer-term survival and well being of the organization. We conclude with a consideration of the major scientific challenges that lie ahead, if the ideas contained within this paper are to be validated