Exploring the Entrepreneurial Mindset: Feedback and Adaptive Decision-Making

15 Pages Posted: 15 Nov 2007 Last revised: 13 May 2014

See all articles by Michael Haynie

Michael Haynie

Syracuse University

Dean A. Shepherd

Indiana University - Kelley School of Business - Management & Entrepreneurship

Abstract

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

Haynie, James Michael and Shepherd, Dean A., Exploring the Entrepreneurial Mindset: Feedback and Adaptive Decision-Making. Babson College Entrepreneurship Research Conference (BCERC) 2007 Paper; Frontiers of Entrepreneurship Research 2007. Available at SSRN: https://ssrn.com/abstract=1030014

James Michael Haynie (Contact Author)

Syracuse University ( email )

900 S. Crouse Avenue
Syracuse, NY 13244-2130
United States

Dean A. Shepherd

Indiana University - Kelley School of Business - Management & Entrepreneurship ( email )

Bloomington, IN 47405
United States
812-856-5220 (Phone)

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