- Elgar original reference
Edited by Marta Sinclair
8 Entrepreneurial intuition Jill R. Kickul and Lisa K. Gundry Entrepreneurship processes and behaviors tend to transpire within a highly competitive environment characterized by uncertainty and rapid change. Entrepreneurial decisions are often made under conditions in which information is imperfect and risk is persistent. Perhaps due to the very nature of entrepreneurial processes that rely on individuals’ abilities to form impressions and grapple with problems or opportunities for which there are no clear, easy solutions, the entrepreneur’s intuition plays a significant role. As Joseph Schumpeter recognized: Here the success of everything depends on intuition, the capacities of seeing things in a way which afterwards proves to be true, even though it cannot be established at the moment, and of grasping the essential facts, discarding the unessential, even though one can give no account of the principles by which it is done. (Schumpeter, 1983: 85) Intuition has been defined as ‘affectively charged judgments that arise through rapid, non-conscious, and holistic associations’ (Dane & Pratt, 2007: 33), and as a form of cognition that operates in two ways: ‘knowing’ and in a way that connects mind and body through ‘feeling’ (Sadler-Smith & Shefy, 2004). Much of the understanding of entrepreneurial intuition is linked to cognition, and the cognitive styles of entrepreneurs. Entrepreneurs’ preferred modes of thinking – their cognitive styles – likely influence the ways in which they learn, gather knowledge, process information and make decisions. Cognitive style is viewed as having multiple dimensions, including decision making, learning, personality and awareness. One of these dimensions is...
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