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Corporate entrepreneurship initiatives : antagonizing cognitive biases in business model design

  • Entrepreneurs designing novel business model configurations face cognitive biases that derive from limited mental capacity to deal with complex and uncertain decision contexts. Building on the notion of the business model as an idiosyncratic mental representation that organizes managerial understanding of value creating and value capture, we iestigate how entrepreneurs cope with cognitive biases inherent in business model design. We conducted a total of 35 in‐depth interviews with entrepreneurs situated in 15 corporate entrepreneurship initiatives in Germany. Our study results suggest that entrepreneurs counter cognitive biases by combining intuitive and deliberate reasoning approaches. Specifically, we identify five cognitive mechanisms and two higher level cognitive processes undergirding entrepreneurial reasoning in the design of new business models. Our findings provide empirically grounded insights into the cognitive perspective in business model research and help to theorize managerial reasoning during the process of business model design.

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Document Type:Article
Author:Mirjam RösslerORCiD, Vivek K. VelamuriORCiD, Dirk SchneckenbergORCiD
Chairs and Professorships:Chair of Entrepreneurship and Technology Transfer
Parent Title (English):R&D Management
Issue:4 (September 2019)
Year of Completion:2019
First Page:509
Last Page:533
Content Focus:Academic Audience
Peer Reviewed:Yes
Rankings:AJG Ranking / 3
VHB Ranking / B
SJR Ranking / Q1
Licence (German):License LogoCreative Commons - CC BY - Namensnennung 4.0 International