Exploring the Entrepreneurial Mindset: Feedback and Adaptive Decision-Making
Frontiers of Entrepreneurship Research 2007
15 Pages Posted: 15 Nov 2007 Last revised: 13 May 2014
The ability to sense and adapt to uncertainty may characterize a critical entrepreneurial and organizational resource. We investigate the roles that metacognition and feedback-type play in facilitating cognitive adaptability: the ability to inform and adapt a previously learned decision heuristic given a dynamic task environment. Across four, inter-related conjoint experiments we capture and decompose more than 10,000 'entrepreneurial decisions' nested within 217 individuals, and test hypotheses positioned to assess the concomitant roles of metacognition and feedback-type in the decision-making process. Our findings suggest that metacognitive awareness and cognitive-based feedback are positively related to effective adaptation given a dynamic task environment, and also that metacognitively aware individuals use cognitive-type feedback more effectively than individuals less metacognitively aware.
Keywords: Entrepreneurship, Cognition
JEL Classification: M13
Suggested Citation: Suggested Citation