Discussion Over Coffee Thursday 17 November 2011 from 18.30 to 20.30 Leonie Baldacchino [email protected] The Edward de Bono Institute For the.

Discussion Over CoffeeThursday 17 November 2011 from 18.30 to 20.30

Leonie [email protected] The Edward de Bono Institute For the Design and Development of ThinkingUniversity of Maltawww.um.edu.mt/create

© Leonie Baldacchino, University of Malta 17 November 2011

What isWhat isEntrepreneurship?Entrepreneurship?

© Leonie Baldacchino, University of Malta 17 November 2011

Entrepreneurship is…Entrepreneurship is…

© Leonie Baldacchino, University of Malta 17 November 2011

Entrepreneurs exist to pursue opportunity

No one can call himself or herself an entrepreneur until they have identified and at least begun

the pursuit of an opportunity

No one should call themselves a successful entrepreneur until they have captured an opportunity

Muzyka (2000)

© Leonie Baldacchino, University of Malta 17 November 2011

© Leonie Baldacchino, University of Malta 17 November 2011

My Research: My Research: An OverviewAn Overview

© Leonie Baldacchino, University of Malta 17 November 2011

BackgroundBackground

Current paradigm in entrepreneurship research: Entrepreneurial Cognition

There has been a shift from ‘cold’ cognition to ‘hot’ cognition in the decision making and entrepreneurial cognition research

© Leonie Baldacchino, University of Malta 17 November 2011

AimsAims

To investigate the role of intuition in the identification and exploitation of entrepreneurial opportunities

To explore whether cognitive strategy is shaped by experience and expertise

To explore whether a more intuitive cognitive strategy influences the number and innovativeness of opportunities identified and exploited

© Leonie Baldacchino, University of Malta 17 November 2011

What isWhat isIntuition?Intuition?

© Leonie Baldacchino, University of Malta 17 November 2011

What is Intuition?What is Intuition?

Long history, yet many questions are still unanswered

From Latin in-tuir: looking, knowing from within

A mysterious or mystical sixth sense?

© Leonie Baldacchino, University of Malta 17 November 2011

“Affectively-charged judgments that arise through rapid, nonconscious, and holistic associations”

(Dane & Pratt, 2007, p. 40)

What is Intuition?What is Intuition?

© Leonie Baldacchino, University of Malta 17 November 2011

• Intuition is not instinct

• Intuition is not insight

• Intuition is not a heuristic

• Intuition is not guessing

What Intuition is NotWhat Intuition is Not

© Leonie Baldacchino, University of Malta 17 November 2011

Intuition and Analysis:Intuition and Analysis:Single Process or Dual Process?Single Process or Dual Process?

© Leonie Baldacchino, University of Malta 17 November 2011

Vs

The Dual Process ViewThe Dual Process View

© Leonie Baldacchino, University of Malta 17 November 2011

Hodgkinson & Clarke (2007)

Conceptual ModelConceptual Model

© Leonie Baldacchino, University of Malta 17 November 2011

Conceptual ModelConceptual Model

© Leonie Baldacchino, University of Malta 17 November 2011

MethodsMethods

© Leonie Baldacchino, University of Malta 17 November 2011

Who? 75 owner-managers of technology-related businesses in

Malta

Why ? Research indicates that intuition is more prevalent and

effective and more effective in high-tech industries

Research Participants Research Participants

© Leonie Baldacchino, University of Malta 17 November 2011

What? Online Survey Why ? To measure antecedents of

cognitive strategy

Research DesignResearch Design

© Leonie Baldacchino, University of Malta 17 November 2011

Step 1

What? Concurrent Protocol Analysis Why ? To map out cognitive strategy

Step 2

What? General preference for

intuition or analysis

Why ? Cognitive style influences

cognitive strategy

How? REI (Epstein et al., 1996)

Survey: Cognitive StyleSurvey: Cognitive Style

© Leonie Baldacchino, University of Malta 17 November 2011

What? Risk Propensity Risk Perception

Why ? These may influence an individual’s

attraction or aversion to radically innovative technologies

How? Forlani & Mullins (2000)

Survey: Survey: Risk Propensity and Risk PerceptionRisk Propensity and Risk Perception

© Leonie Baldacchino, University of Malta 17 November 2011

What? Educational background Managerial experience Business ownership history Deliberate practice

Why ? Experience and expertise have been

linked to intuition

How? Various

Survey: Survey: Experience and ExpertiseExperience and Expertise

© Leonie Baldacchino, University of Malta 17 November 2011

How? Hypothetical but realistic opportunity

identification and exploitation scenarios Think-aloud while performing tasks

Why ? Self-report measures are inadequate to

tap into the complex non-conscious nature of intuition

Protocol Analysis: Think AloudProtocol Analysis: Think Aloud

© Leonie Baldacchino, University of Malta 17 November 2011

Findings and Findings and Further AnalysisFurther Analysis

© Leonie Baldacchino, University of Malta 17 November 2011

Preliminary FindingsPreliminary Findings

Intuition seems to be more prevalent in the opportunity identification stage

Analysis seems to be more prevalent in the opportunity exploitation stage

Intuition: a gatekeeper

© Leonie Baldacchino, University of Malta 17 November 2011

Further AnalysisFurther Analysis

Analysis of survey data with SPSS

Analysis of transcribed interview protocols: Chunking of protocols into ‘intuition’,

‘rationality’ and ‘noise’ categories Counting and rating of opportunities

identified and exploited by each respondent

Regression analyses using SPSS to test various relationships

© Leonie Baldacchino, University of Malta 17 November 2011

Discussion Over CoffeeThursday 17 November 2011 from 18.30 to 20.30

Leonie [email protected] The Edward de Bono Institute For the Design and Development of ThinkingUniversity of Maltawww.um.edu.mt/create

Thank YouThank Youfor your kind attentionfor your kind attention