ENTREPRENEURSHIP AS DECISION MAKING: RATIONAL, INTUITIVE AND IMPROVISATIONAL APPROACHES

Miguel Pina E Cunha
Additional contact information
Miguel Pina E Cunha: Faculdade de Economia, Universidade Nova de Lisboa, Portugal

Journal of Enterprising Culture (JEC), 2007, vol. 15, issue 01, 1-20

Abstract: In this paper entrepreneurship is presented as decision making. Mintzberg and Westley's (2001) decision making typology is adapted to the case of entrepreneurial decision making. These authors complemented the rational, step-by-step mode of decision making, with the intuitive and improvisational modes, Complementing the rational view of decision making with the analysis of entrepreneurship as intuitive or improvisational decision making, a richer and more integrated understanding of entrepreneurial behavior is obtained. To make the implications of the three decision making approaches to entrepreneurship clear, the entrepreneurial process under each of the three modes, will be considered. Ireland, Hitt and Sirmon's (2003) model of strategic entrepreneurship is used as a framework. With this framework, the three resulting theoretical representations of the entrepreneurial process will be discussed. Irelandet al,'s model of strategic entrepreneurship suggests that to understand how entrepreneurial activity leads to competitive advantage and wealth creation, four building blocks of entrepreneurial activity should be considered: entrepreneurial mindset, entrepreneurial culture and leadership, strategic management of resources and application of creativity and development of innovation.

Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0218495807000022
Access to full text is restricted to subscribers

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:wsi:jecxxx:v:15:y:2007:i:01:n:s0218495807000022

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0218495807000022

Access Statistics for this article

Journal of Enterprising Culture (JEC) is currently edited by Teck-Meng Tan

More articles in Journal of Enterprising Culture (JEC) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().