EconPapers    
Economics at your fingertips  
 

The Heuristics of Entrepreneurs

Andrea Makings and Brian Barnard
Additional contact information
Andrea Makings: Wits Business School, University of the Witwatersrand, South Africa
Brian Barnard: Wits Business School, University of the Witwatersrand, South Africa

Expert Journal of Business and Management, 2019, vol. 7, issue 2, 179-203

Abstract: The study considered and investigated the heuristics of entrepreneurs in the fields of management, strategy, innovation, marketing, sales, HR, and tactics. Overall, a very sophisticated heuristic set was surfaced. None of the areas studied can be described as under-developed. The sophistication of the heuristic set contrasts strongly with previous research on entrepreneurs’ heuristics. Entrepreneurs did not always and initially acknowledge their use of heuristics. It equally implies entrepreneurs may not be actively developing their thinking at all times. Although impressive, comprehensive, and original, the heuristics set may not truly be that distinct from the typical heuristics set of business leaders. Entrepreneurs differ in terms of the level of maturity or comprehensiveness they have reached in terms of the heuristics they consider and use. Entrepreneurs demonstrate natural proficiency and deficiency in terms of heuristics pertaining to areas they excel in and struggle with, respectively. Entrepreneurs may develop heuristics through experience. Education impacts the development of heuristics. Some entrepreneurs make up for the areas in which they lack, by seeking help, assistance, expertise, etc. Entrepreneurs may also pick up and learn heuristics from others.

JEL-codes: O30 L26 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://business.expertjournals.com/ark:/16759/EJBM_711makings179-203.pdf (application/pdf)
http://business.expertjournals.com/23446781-711 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:exp:bsness:v:7:y:2019:i:2:p:179-203

Access Statistics for this article

More articles in Expert Journal of Business and Management from Sprint Investify
Bibliographic data for series maintained by Alin Opreana ().

 
Page updated 2020-06-13
Handle: RePEc:exp:bsness:v:7:y:2019:i:2:p:179-203