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

See all articles by G. Page West

G. Page West

Wake Forest University

E. Vance Wilson

Worcester Polytechnic Institute (WPI) - Department of Management

Date Written: May 4, 2011

Abstract

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

Suggested Citation

West, G. Page and Wilson, E. Vance, A Simulation of Strategic Decision Making in Situational Stereotype Conditions for Entrepreneurial Companies (May 4, 2011). Simulation and Gaming, Vol. 26, No. 3, 1995. Available at SSRN: https://ssrn.com/abstract=1831982

G. Page West (Contact Author)

Wake Forest University ( email )

School of Business
1834 Wake Forest Road
Winston-Salem, NC 27106
United States

E. Vance Wilson

Worcester Polytechnic Institute (WPI) - Department of Management ( email )

Worcester, MA 01609
United States

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