What Factors Contribute to Entrepreneurs’ Decision Making Biases? A Comprehensive Study

Journal Title: International Journal of Management Sciences - Year 2014, Vol 4, Issue 2

Abstract

Entrepreneurial decisions are of great value as well as importance in the field of entrepreneurship by playing an exceptional role in all major entrepreneurial activities. Given the unique characteristics of entrepreneurial activities, entrepreneurs are prone to decision making biases in their decisions. Because these biases directly affect enterprises, they are of crucial importance in the field of entrepreneurship. On the other hand, because these biases emanate from a lot of important factors and differ from one person to another (given their subjective nature), their identification needs an elaborate study. Having concluded that identifying the main factors influencing entrepreneurial decision making biases is vital for entrepreneurship-related studies and there is no comprehensive research study in this regard, this paper conducted a grounded theory approach by interviewing 20 Iranian entrepreneurs. According to our findings, personal (individual), environmental and organizational factors are the main categories influencing the genesis of decision making biases in entrepreneurs.

Authors and Affiliations

Kambiz Talebi, Pouria Nouri, Abdolah Ahmadi Kafeshani

Keywords

Related Articles

International Monetary Fund Economic Indicators and Economic Growth in Nigeria

International Monetary Fund economic indicators for developing and developed nations’ performance are very critical to the survival of any nation. This paper focused on the determinant of macroeconomic indicators of IM...

The Effects of Supply Chain Management Practices (Strategic Suppliers Partnership, Information Sharing, and Postponement) On Organizational Performance in Consumer Goods Manufacturing Industry of Pakistan

To compete successfully in today’s challenging business environment, companies need to focus on SCM practices that have great impact on enhancing their performances. This research conceptualizes the effects of SCM prac...

Evaluating the Effectiveness of Supply Chain Visibility in the Retail Supply Chain: A Case Study of Uchumi Super Markets Limited - Kenya

Uchumi Supermarket Ltd though in receivership has proved to be a success story in its turnaround efforts as it recorded profits last year. The success is mainly attributed to the suppliers who have demonstrated resilie...

Corporate Machiavellianism and Macintyrian Capitalism: The Battle for the Soul of Business

The pursuit of profit and business success has always been the goal of CEOs and many business practitioners. This has further led to the devaluation of the human person in many business practices. This global economic...

Mission Statement and Bank Performance: Evidence from Nigerian Banking Industry

This study examines the relationship between mission statement and banks performance. The sample for this study consists of 11 banks from Nigerian banking industry. The secondary data was adopted for this study. The da...

Download PDF file
  • EP ID EP26917
  • DOI -
  • Views 293
  • Downloads 5

How To Cite

Kambiz Talebi, Pouria Nouri, Abdolah Ahmadi Kafeshani (2014). What Factors Contribute to Entrepreneurs’ Decision Making Biases? A Comprehensive Study. International Journal of Management Sciences, 4(2), -. https://europub.co.uk/articles/-A-26917