The document explores various aspects of entrepreneurial cognition, particularly focusing on social and sustainable entrepreneurs and their mental models in relation to opportunities. It raises several research questions about differences in perceptions, decision-making processes, and the influence of social norms on entrepreneurial intentions and actions. Additionally, it highlights the importance of emotion and cognitive change in the entrepreneurial journey, along with a call for further involvement in entrepreneurship initiatives.

1. Everything (New) I Know About
Entrepreneurial Cognition...
I Learned from Social & Sustainable
Entrepreneurs
Norris Krueger, Entrepreneurship Northwest
Theresa Michl, Munich School of Management
Dianne Welsh, UNC Greensboro

2. Ultimatum games:
This is your brain on unfairness
2

3. Entrepreneurial Cognition
State of the Art?
“Entrepreneurial Intentions Are Dead; Long
Live Entrepreneurial Intentions”
Review, The Cognitive Psychology of the
Entrepreneur, International Handbook of
Entrepreneurship Research (Acs &
Audretsch, eds, 2010)

4. Perceptions
Filters and Metaphors
Mental Prototyping
Nexus is not between orthogonals
Add dynamism and....
Cool Research Question(?):
How do social opportunities affect the
entrepreneurs' mental models?

5. How Many of You?
Did I make you do Venn diagram exercise?
It's about mental models...
Mental prototypes.
When I say “opportunity” what things fit that
image.. and what doesn't?
Cool Research Question:
For social/sustainable entrepreneurs, what's
different about their mental prototypes?

6. Deep Beliefs?
Attributions of Causality
Optimism? [PLMQ!]
Show of hands....
Effort or Ability?
Effort or External Forces?
Effort or Luck?
Cool Research Question:
Are Social Entrepreneurs More Optimistic than
Other Entrepreneurs?

7. Seeing Opportunities
How does social entrepreneurship affect the
Created-Discovered debate?
We know that opportunities are INHERENTLY
multi-dimensional; multi-criteria decision making
(MCDM) is the norm
Think triple bottom line?

8. 8

9. 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1
Growing Very Fast
Not Growing
Competing on Quality
Competing on Price
High Tech
Low Tech
Seeking new product markets
Defending existing product markets
Funded through external capital
Funded internally
Seeking strong financial performance
Not placing a high priority on financial performane
Not emphasizing social responsibility
Consciously focusing on being socially sustainable
Intentionally seeking to be environmentally sustainable
Not emphasizing environmental sustainability
Competitive Conditions are chaiging rapidly
Competitive conditions are stable
9

10. So What?
Welpe & Grichnik experiments:
Ss think & act differently depending on
envisioned opportunity -social or economic
Michl, et al. experiments:
Ss' decision making highly influenced by
envisioned opportunity
Cool Research Question:
What does the opportunity space really look
like? And what drives it? (& what
experiments should we do??)

11. You'll be shocked to learn....

12. The Intentions Model
Cool Research Questions:
Differences in barriers? Social norms??
Action
Perceived
Social Norms
Personal Desirability
Perceived
Self-Efficacy
Perceived
Collective Efficacy
Perceived
Desirability
Perceived
Feasibility
INTENTIONS
Precipitating Event
PERCEPTION of
OPPORTUNITY

13. Dynamics
Cool Research Question:
Differences in Commitment?

14. Bagozzi
Decision
Process
Importance
Decision
Process
Effort
Investment
Decision
Process
Confidence
Goal
Feasibility
Perceived
Behavioral
control
Goal Desire
Goal
Intention
Implement-
ation
Desire
Implement-
ation
Intention
Plan
Enactment
Positive
Anticipated
Emotions
Negative
Anticipated
emotions Attitude
Subjective
Norms
Goal
Realization

15. Emotions & Affect
Emotions (PANAS scales)
Affect (not the same)
Fear of Failure?

16. Passion
PASSION!!
Harmonious vs. Obsessive
Inventors Syndrome?
Cool Research Question:
Do social entrepreneurs exhibit inventors
syndrome?

17. Learning
Emotion & Affect: Inherent in transformative
learning, deep cognitive change
Cool Research Question:
Social entrepreneurship unique driver of deep
cognitive change?
Novice Expert
Entrepreneurial
Mindset
Critical Developmental Experiences
Change in what we know (content)
Change in how we know it
(knowledge structures)
Change in Deep Beliefs

18. s: 17
es: 14,007
How can I help YOU get
involved?
www.StartupWeekend.org

19. Global Entrepreneurship Week
Nov 15-22
www.UnleashingIdeas.org
(How can I help YOU get involved?)

20. Neuroscience?
Sahakian experiment: 'Hot' versus 'cold' cognition
Cool Research Question:
Compare social & economic entrepreneurs? OR...
what might be better??
Cool Research Question:
Role of affect in decision making? (Michl
experiments)

21. Contact us!
 Norris
 norris.krueger@gmail.com
 @entrep_thinking
 also LinkedIn, Facebook
 Theresa
 michl@lmu.de
 Dianne
 dhwelsh@uncg.edu