Entrepreneurs' decision-making in industry selection: explaining the role of intuition, emotion, and logic

Document Type : Research Paper

Authors

1 Department of Public Administration, Faculty of Management and Economics, Tarbiyat Modares University, Tehran, Iran.

2 Department of Business Administration, Faculty of Business and Economics, Persian Gulf University, Bushehr, Iran.

Abstract

Objective: The question of what elements entrepreneurs pay attention to enter a specific industry is important in the entrepreneurship literature. On the other hand, people's decision-making style follows three logical, emotional, and intuitive patterns. This research has been done to answer the question, what factors do entrepreneurs with a rational, emotional, and intuitive style pay attention to enter an industry?
 
Method: This research is applied research in terms of purpose and tries to help to shed more light on how entrepreneurs make a strategic decision to choose an industry. This research has a mixed method design (multiphase design). The decision-making model of entrepreneurs is assessed with a quantitative approach, and the tool for collecting is a questionnaire. The way entrepreneurs decide to enter a specific industry will be examined with a qualitative approach. The interview method has been used to obtain the required information at this stage.
 
Results: The research findings show that the way entrepreneurs enter with a logical, emotional, and intuitive style has a series of similarities and differences. The clustering of extracted codes in this research is categorized into 21 themes.
Conclusion: The results of the research showed what factors entrepreneurs with a logical, emotional and intuitive decision-making style consider for choosing an industry.

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Main Subjects

Journal of Entrepreneurship Development
Volume 16, Issue 2 - Serial Number 60
September 2023
Pages 21-33

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