Simple Heuristics in Entrepreneurial Opportunity Recognition

Peter T. Bryant

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contributionpeer-review

Abstract

This paper reports a multiple case study of heuristics in entrepreneurial opportunity recognition. I interviewed thirty founder-mangers about opportunity recognition, their related decision-making processes, and other factors. I then performed qualitative analysis of the interviews using thematic coding and cross-case analysis. The results show that entrepreneurs use simple heuristics to make effective judgements about new opportunities. The results also suggest that, contrary to much of the literature on heuristics in decision-making, the simple heuristics used by entrepreneurs in opportunity recognition are not inherently prone to extreme bias or cognitive error. I discuss the implications for future research.
Original languageEnglish
Title of host publicationAustralian and New Zealand Academy of Management Conference
Place of PublicationCanberra
PublisherAustralian and New Zealand Academy of Management
Pages1-10
Number of pages10
ISBN (Print)9781740882453
Publication statusPublished - 2005
EventAustralian and New Zealand Academy of Management Conference (19th : 2005) - Canberra, Australia
Duration: 7 Dec 200510 Dec 2005

Conference

ConferenceAustralian and New Zealand Academy of Management Conference (19th : 2005)
CountryAustralia
CityCanberra
Period7/12/0510/12/05

Keywords

  • Entrepreneurship
  • Opportunity Recognition
  • Heuristics
  • Decision-Making

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