A Simulation of Strategic Decision Making in Situational Stereotype Conditions for Entrepreneurial Companies
Simulation and Gaming, Vol. 26, No. 3, 1995
21 Pages Posted: 9 May 2011
Date Written: May 4, 2011
Entrepreneurship is concerned with pattern recognition of situations and information by entrepreneurs. Simulation methods represent an attractive venue for exploring pattern recognition and information interpretation issues. A computerized decision-making simulation was developed and run to test hypotheses concerning interpretation of stereotypical situational cues to which new ventures are subject. Partial support is found for the existence of classes of situations to which entrepreneurs and managers respond. Stereotypical views of situations may develop quickly and be acted on easily in critical decision making. Future simulation research on cognition issues in entrepreneurship may enable entrepreneurs to better learn how to learn.
Keywords: entrepreneurship, life cycle, stereotype, simulation
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