The ability to sense and adapt to uncertainty may characterize a critical entrepreneurial and organizational resource. We investigate the roles that metacognition and feedback-type play in facilitating cognitive adaptability: the ability to inform and adapt a previously learned decision heuristic given a dynamic task environment. Across four, inter-related conjoint experiments we capture and decompose more than 10,000 ‘entrepreneurial decisions’ nested within 217 individuals, and test hypotheses positioned to assess the concomitant roles of metacognition and feedback-type in the decision-making process. Our findings suggest that metacognitive awareness and cognitive-based feedback are positively related to effective adaptation given a dynamic task environment, and also that metacognitively aware individuals use cognitive-type feedback more effectively than individuals less metacognitively aware.
NATIONAL FEDERATION OF INDEPENDENT BUSINESS (NFIB) AWARD FOR EXCELLENCE IN RESEARCH ON THE GENERAL TOPIC OF ENTREPRENEURSHIP
Haynie, J. Michael and Shepherd, Dean A.
"EXPLORING THE ENTREPRENEURIAL MINDSET: FEEDBACK AND ADAPTIVE DECISION-MAKING,"
Frontiers of Entrepreneurship Research: Vol. 27
, Article 1.
Available at: http://digitalknowledge.babson.edu/fer/vol27/iss6/1