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Project Title: Social Networks and Emotions: Implications for the Rationality of Entrepreneurial Strategic Decision Making

Abstract

Entrepreneurs and entrepreneurial action have important and long lasting implications for the community. They identify and exploit opportunities, innovate and create a significant amount of job opportunities and thus are often considered the engine of economic growth. But they can easily get out of business due to decisions that eventually prove to be unfit for the volatile environment they operate in.

It is therefore relevant to study the way entrepreneurs make strategic decisions (ESDM), which involve high stakes for the company. Although the literature on ESDM has proliferated in the last decades, the positive value of the so-called ecological heuristics (i.e. cognitive shortcuts that entrepreneurs use when making a decision that match the structure of the decision environment and produce positive outcomes, while saving time and energy resources) remain largely unexplained.

Therefore, this project aims to: (1) explore the way the characteristics of the social network the entrepreneurs are embedded in influence the ecological rationality of the ESDM and its effectiveness, and (2) explore how emotions and emotion regulation strategies influence the ecological rationality and effectiveness of the ESDM.

This work is supported by a grant of the Romanian National Authority for Scientific Research and Innovation, CNCS – UEFISCDI, project code: PN-II-RU-TE-2014-4-2111