BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Author
Gancarczyk Marta (Jagiellonian University in Cracow, Poland), Ujwary-Gil Anna (Polish Academy of Sciences, Warsaw, Poland)
Title
Entrepreneurial Cognition or Judgment : the Management and Economics Approaches to the Entrepreneur's Choices
Source
Journal of Entrepreneurship, Management and Innovation (JEMI), 2021, vol. 17, nr 1, s. 7-23, bibliogr. s. 18-22
Issue title
Exploring the Link Between Entrepreneurial Capabilities, Cognition, and Behaviors
Keyword
Niepewność, Socjologia przedsiębiorczości, Teoria przedsiębiorstwa, Podejmowanie decyzji w warunkach niepewności
Uncertainty, Sociology of entrepreneurship, Enterprise theory, Decision making under uncertainty
Note
JEL Classification: L26, D81
streszcz., summ.
Abstract
Cel: Wyjaśnienie przedsiębiorczych wyborów jest istotne dla efektywnej alokacji zasobów oraz zamożności jednostek i społeczeństw. Studia z zakresu ekonomii i nauk o zarządzaniu przedstawiają zarówno komplementarne, jak i alternatywne poglądy na temat decyzji i działań przedsiębiorców. Niniejszy artykuł ma na celu przedstawienie syntezy tej dyskusji, zaproponowanie podejścia procesowego i konfiguracyjnego, które łączy istniejące ujęcia teoretyczne, a także określenie wkładu artykułów z tego tomu do badań nad związkiem między przedsiębiorczym poznaniem a wyborami. Metodyka: Na podstawie narracyjnego przeglądu literatury scharakteryzowano główne koncepcje opisujące sposoby dokonywania przez przedsiębiorców osądów oraz podejmowania decyzji i działań w warunkach niepewności. Następnie, zaproponowano wykorzystanie tych podejść w ujęciu procesowym i konfiguracyjnym. Wyniki: Badania przedstawione w tym tomie traktują koncepcje przedsiębiorczego odkrywania i tworzenia jako komplementarne, a nie alternatywne. Ponadto, badania te potwierdzają znaczenie zdolności, cech osobowości i percepcji przedsiębiorcy dla wyników firmy i decyzji o prowadzeniu działalności gospodarczej. Wartością tego tomu jest także uwzględnienie szerokiego kontekstu i specyficznych uwarunkowań związanych z położeniem geograficznym, cechami branż i przedsiębiorstw, a także rozwojem gospodarczym i społeczną świadomością. Implikacje dla teorii i praktyki: Artykuł dokonuje syntezy dyskusji na temat uwarunkowań przedsiębiorczych wyborów i proponuje podejścia procesowe i konfiguracyjne, które łączą istniejące na ten temat poglądy. Oryginalność i wartość: Wkład do literatury na temat wyborów przedsiębiorczych opiera się na wskazaniu powiązań między rozumieniem osądów i zachowań przedsiębiorczych w ekonomii i naukach o zarządzaniu oraz na określeniu, w jaki sposób badania w obecnym numerze tematycznym wyjaśniają te powiązania. (abstrakt oryginalny)

Purpose: The explanation of entrepreneurial choices is relevant for efficient resource allocation and wealth of individuals and societies. The economics and management studies in entrepreneurship present both complementary and alternative views on the antecedents of entrepreneurial decisions and actions. This paper aims to synthesize this discussion, propose the processual and configurational approach that bridges the extant views, as well as to present the contribution of the papers in this issue to exploring the link between entrepreneurial cognition and choices. Methodology: Based on the narrative literature review, we present the major constructs describing how entrepreneurs make judgments under uncertainty and select particular decisions and actions. Then, we suggest how these differing assumptions can be adopted within processual view, as well as based on the configurational approach to judgments and actions of entrepreneurs. Findings: The research included in this issue treats the concepts of entrepreneurial discovery and creation as complementary rather than alternative. Moreover, the referred studies acknowledge the role of capabilities, personal traits and entrepreneurial cognition in enterprise performance and intentions to run a business. Additional value of this issue is a broad picture of the context and related contingencies, such as geographical location, industrial and firm idiosyncrasies, as well as economic development and social awareness levels in particular locations. Implications for theory and practice: This paper synthesizes the extant discussion on the antecedents of entrepreneurial choices, and proposes processual and configurational approaches to bridge theoretical perspectives in this research field. Originality and value: We contribute to the literature on entrepreneurial choices by proposing the conceptual links between judgments and behaviors in economics and management studies, and by highlighting how the research in this thematic issue explains the referred links. (original abstract)
Full text
Show
Bibliography
Show
  1. Alvarez, S. A., Barney, J. B., McBride, R., & Wuebker, R. (2017). On opportunities: Philosophical and empirical implications. Academy of Management Review, 42(4), 726-730. https://doi.org/10.5465/amr.2016.0035
  2. Alvarez, S., & Barney, J. B. (2007). The entrepreneurial theory of the firm. Journal of Management Studies, 44(7), 1057-1063. http://dx.doi.org/10.1111/j.1467-6486.2007.00721.x
  3. Argyres, N. S., & Zenger, T. R. (2012). Capabilities, transaction costs, and firm boundaries. Organization Science, 23(6), 1643-1657. https://doi.org/10.1287/orsc.1110.0736
  4. Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120. https://doi.org/10.1177/014920639101700108
  5. Barney, J. A. Y., & Felin, T. (2013). What are microfoundations?. Academy of Management Perspectives, 27(2), 138-155. https://doi.org/10.5465/amp.2012.0107
  6. Baumol, W. J. (1996). Entrepreneurship: Productive, unproductive, and destructive. Journal of Business Venturing, 11(1), 3-22. https://doi.org/10.1016/0883-9026(94)00014-X
  7. Borkowska, B., Klimczak, B., Klimczak, M., Jakubowski, R., Boruciński, D., & Mikucka-Kowalczyk, A. (2019). Ekonomia Instytucjonalna. Wrocław: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu.
  8. Briel, F., Davidsson, P., & Recker, J. (2018). Digital technologies as external enablers of new venture creation in the IT hardware sector. Entrepreneurship Theory and Practice, 42(1), 47-69. https://doi.org/10.1177/1042258717732779
  9. Chandler, G., McKelvie, A., & Davidsson, P. (2009). Asset specificity and behavioral uncertainty as moderators of the sales growth - employment growth relationship in emerging ventures. Journal of Business Venturing, 24 (4), 373-387. https://doi.org/10.1016/j.jbusvent.2008.04.002
  10. Chen, H. S., Mitchell, R. K., Brigham, K. H., Howell, R., & Steinbauer, R. (2018). Perceived psychological distance, construal processes, and abstractness of entrepreneurial action. Journal of Business Venturing, 33(3), 296-314. https://doi.org/10.1016/j.jbusvent.2018.01.001
  11. Davidsson, P., Delmar, F., & Wiklund, J. (2006). Entrepreneurship and the Growth of Firms. Cheltenham: Edward Elgar Publishing.
  12. Dobbs, M., & Hamilton, R. T. (2007). Small business growth: recent evidence and new directions. International Journal of Entrepreneurial Behavior & Research. 13(4), 296-32. https://doi.org/10.1108/13552550710780885
  13. Dominiak, P., Wasilczuk, J., & Starnawska, M. (2016). Przedsiębiorczość nieproduktywna w świetle ekonomii instytucjonalnej. Analiza zjawiska w Polsce. Gdańsk: Wydawnictwo Politechniki Gdańskiej.
  14. Dvouletý, O., & Orel, M. (2020). Individual determinants of entrepreneurship in Visegrád countries: Reflection on GEM data from the Czech Republic, Hungary, Poland, and Slovakia. Entrepreneurial Business and Economics Review, 8(4), 123-137.
  15. Foss, N. J. (1993). Theories of the firm: Contractual and competence perspectives. Journal of Evolutionary Economics, 3(2), 127-144. https://doi.org/10.1007/BF01213830
  16. Foss, N. J., & Klein, P. G. (2012). Organizing Entrepreneurial Judgment: A new Approach to the Firm. Cambridge: Cambridge University Press.
  17. Foss, N. J., & Klein, P. G. (2015). The judgment-based approach to entrepreneurship: Accomplishments, challenges, new directions. Journal of Institutional Economics, 11(3), 585-599.
  18. Foss, N. J., & Klein, P. G. (2017). Entrepreneurial discovery or creation? In search of the middle ground. Academy of Management Review, 42(4), 733-736. https://doi.org/10.5465/amr.2016.0046
  19. Gaglio, C. M., & Katz, J. A. (2001). The psychological basis of opportunity identification: Entrepreneurial alertness. Small Business Economics, 16(2), 95-111. https://doi.org/10.1023/A:1011132102464
  20. Gancarczyk, M. (2006). Sieci innowacyjne a polityka wspierania małych i średnich przedsiębiorstw (MŚP). Przegląd Organizacji, (11), 14-17.
  21. Gancarczyk, M. (2017). The process of SME growth: Integrating the Resource-Based and Transaction Cost Approaches. Kraków: Jagiellonian University Press.
  22. Gancarczyk, M. (2019). The performance of high-growers and regional entrepreneurial ecosystems: A research framework. Entrepreneurial Business and Economics Review, 7(3), 99-123. https://doi.org/10.15678/EBER.2019.070306
  23. Gancarczyk, M., & Gancarczyk, J. (2013). Structural change in industrial clusters-scenarios and policy implications. Studia Regionalia, (35), 111-128.
  24. Gaweł, A. (2013). Proces Przedsiębiorczy: Tworzenie Nowych Przedsiębiorstw. Warszawa: Difin.
  25. Gibbert, M., & Ruigrok, W. (2010). The ''what''and ''how''of case study rigor: Three strategies based on published work. Organizational Research Methods, 13(4), 710-737. https://doi.org/10.1177/1094428109351319
  26. Gorynia, M. (1999). Przedsiębiorstwo w nowej ekonomii instytucjonalnej. Ekonomista, 6(99), 778-790.
  27. Götz, M. (2020a). Primer on the cluster impact on internationalisation in the form of FDI in the time of industry 4.0. European Spatial Research and Policy, 27(1), 195-220.
  28. Götz, M. (2020b). Cluster role in industry 4.0-a pilot study from Germany. Competitiveness Review: An International Business Journal. https://doi.org/10.1108/CR-10-2019-0091
  29. Kirzner, I. (1973). Competition and Entrepreneurship. Chicago: Chicago University Press.
  30. Kirzner, I. M. (1997). Entrepreneurial discovery and the competitive market process: An Austrian approach. Journal of Economic Literature, 35(1), 60-85.
  31. Knight, F. H. (1921). Risk, uncertainty and profit. Boston and New York: Houghton Mifflin.
  32. Li, C., Murad, M., Ashraf, S., Syed, N., & Riaz, M. (2020). Entrepreneurial nascent behaviour: The role of causation process in opportunity discovery and creation. Entrepreneurial Business and Economics Review, 8(4), 183-200. https://doi.org/10.15678/EBER.2020.080410
  33. Marona, B., & Tomal, M. (2020). The COVID-19 pandemic impact upon housing brokers' workflow and their clients' attitude: Real estate market in Krakow. Entrepreneurial Business and Economics Review, 8(4), 221-232.
  34. McMullen, J. S., & Dimov, D. (2013). Time and the entrepreneurial journey: The problems and promise of studying entrepreneurship as a process. Journal of Management Studies, 50(8), 1481-1512. https://doi.org/10.1111/joms.1204
  35. Mitchell, J. R., Mitchell, R. K., & Randolph-Seng, B. (Eds.). (2014). Handbook of Entrepreneurial Cognition. Cheltenham: Edward Elgar Publishing.
  36. Onwe, C., Ogbo, A., & Ameh, A. A. (2020). Entrepreneurial orientation and small firm performance: The moderating role of environmental hostility. Entrepreneurial Business and Economics Review, 8(4), 67-84. https://doi.org/10.15678/EBER.2020.080404
  37. Packard, M. D. (2017). Where did interpretivism go in the theory of entrepreneurship?. Journal of Business Venturing, 32(5), 536-549. https://doi.org/10.1016/j.jbusvent.2017.05.004
  38. Penrose, E., & Penrose, E. T. (2009). The Theory of the Growth of the Firm. Oxford: Oxford University Press.
  39. Pryor, C., Webb, J. W., Ireland, R. D., & Ketchen, Jr, D. J. (2016). Toward an integration of the behavioral and cognitive influences on the entrepreneurship process. Strategic Entrepreneurship Journal, 10(1), 21-42. https://doi.org/10.1002/sej.1204
  40. Ramoglou, S., & Tsang, E. W. (2016). A realist perspective of entrepreneurship: Opportunities as propensities. Academy of Management Review, 41(3), 410-434. https://doi.org/10.5465/amr.2014.0281
  41. Ramoglou, S., & Tsang, E. W. (2017). In defense of common sense in entrepreneurship theory: Beyond philosophical extremities and linguistic abuses. Academy of Management Review, 42(4), 736-744. https://doi.org/10.5465/amr.2017.0169
  42. Reissova, A., Šimsova, J., Sonntag, R., & Kučerova, K. (2020). The influence of personal characteristics on entrepreneurial intentions: International comparison. Entrepreneurial Business and Economics Review, 8(4), 29-46. https://doi.org/10.15678/EBER.2020.080402
  43. Sarason, Y., Dean, T., & Dillard, J.F. (2006). Entrepreneurship as the nexus of individual and opportunity: A structuration view. Journal of Business Venturing 21(3), 286-305. https://doi.org/10.1016/j.jbusvent.2005.02.007
  44. Schumpeter, J. A. (1911). The Theory of Economic Development. Cambridge, MA: Harvard University Press.
  45. Selden, P. D., & Fletcher, D. E. (2015). The entrepreneurial journey as an emergent hierarchical system of artifact-creating processes. Journal of Business Venturing, 30(4), 603-615. https://doi.org/10.1016/j.jbusvent.2014.09.002
  46. Shane, S. (2012). Reflections on the 2010 AMR decade award: Delivering on the promise of entrepreneurship as a field of research. Academy of Management Review, 37(1), 10-20. https://doi.org/10.5465/amr.2011.0078
  47. Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226. https://doi.org/10.5465/amr.2000.2791611
  48. Steyaert, C. (2007). 'Entrepreneuring' as a conceptual attractor? A review of process theories in 20 years of entrepreneurship studies. Entrepreneurship and Regional Development, 19(6), 453-477. https://doi.org/10.1080/08985620701671759
  49. Teece, D. J. (2007). Explicating dynamic capabilities: The nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319-1350. https://doi.org/10.1002/smj.640
  50. Ujwary-Gil, A., & Potoczek, R. N. (2020). A dynamic, network and resource-based approach to the sustainable business model. Electronic Markets, 30(4), 717-733. https://doi.org/10.1007/s12525-020-00431-6
  51. Ujwary-Gil, A. (2019). Organizational network analysis: A study of a university library from a network efficiency perspective. Library & Information Science Research, 41(1), 48-57. https://doi.org/10.1016/j.lisr.2019.02.007
  52. Ujwary-Gil, A. (2017). The business model and intellectual capital in the value creation of firms: A literature review. Baltic Journal of Management, 12(3), 368-386. https://doi.org/10.1108/BJM-10-2016-0224
  53. Welter, F. (2011). Contextualizing entrepreneurship-conceptual challenges and ways forward. Entrepreneurship Theory and Practice, 35(1), 165-184. https://doi.org/10.1111/j.1540-6520.2010.00427.x
  54. Wijaya, P., & Suasih, N. N. (2020). The effect of knowledge management on competitive advantage and business performance: A study of silver craft SMEs. Entrepreneurial Business and Economics Review, 8(4), 105-121. https://doi.org/10.15678/EBER.2020.080406
  55. Williamson, O. E. (1985). The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting. New York: Free Press.
  56. Williamson, O. E. (1989). Transaction cost economics. Handbook of Industrial Organization, (1), 135-182.
  57. Williamson, O. E. (1991). Comparative economic organization: The analysis of discrete structural alternatives. Administrative Science Quarterly, 36(2), 269-296. https://doi.org/10.2307/2393356
  58. Zahra, S. A., & Wright, M. (2011). Entrepreneurship's next act. Academy of Management Perspectives, 25(4), 67-83. https://doi.org/10.5465/amp.2010.0149
Cited by
Show
ISSN
2299-7075
Language
eng
URI / DOI
https://doi.org/10.7341/20211710
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu