Entrepreneurial Snap-Decision Making: The SNAP-Decision Theory
THE CONCPETUAL SNAP-DECISION MAKING FRAMEWORK
Snap-Decision Making Conceptual Framework „S.N.A.P.‟ Factors Time Experience Expertise Insight Intuition Emotion Rationality: pre-during- post decision The Entrepreneurial Approach: S.N.A.P. Spontaneous Natural Awareness with Purpose
Drivers
Confidence Belief
Understanding
Optimisation of time and effort
The Point of Decision- Making
'Knowing':
"It feels right" "I see it"
Implies a change: 1. Physiological (neural/chemical ) 2. Mentality (thinking patterns) 3. Belief/Attitude/Perce ption/View 4. Situation- Opportunity Position: Improved/Neutral/Re gressed Implies Momentum: A changed position brings with it opportunity and surendipity – key entrepreneurial characteristics and behaviours. New decisions are possible from a new start-point or staging post. Implied optimisation of decision-making flow. Themes Flow Now Flip Tipping Point Cut-to-the Chase Every Second Counts Decision Making Systems Levels: 1. Conscious 2. Unconscious Cognitive Memories Neural networks Associations Sensual patterns of information Emotional Valence Emotional Intelligence Fusion of Time Connectionist Past-present -future in a single moment. Decisions shape the future, are based on the past but entered only in the ‘Now‘.
Context 1. Bounded Rationality (Simon, 1991; Gigerenzer, 2002) 2. Situational Judgement Opportunistic awareness. 3. Decision Intelligence The right things in the right place at the right time.
Concepts
1. Rapid Cognition 2. Thin-Slicing
3. Fast and Frugal Heuristics: Rules of Thumb and Principles 4. The Adaptive Toolbox
Conclusion
―…our snap judgements and first impressions can offer a much better means [than spending hours deliberating] of making sense of the world‖.
(Gladwell, 2005, p. 4).
The study aims to define and translate natural, dynamic phenomenon within the entrepreneurial snap-decision process. Entrepreneurial behaviours have been captured in terms of awareness, attention, perceptions, responses and reflections during the snap- decision-making process and post decision-making process. It has sought to identify, decode and translate, categorise, label and explain key concepts and elements within the event. The ultimate study aim is to posit a theory of snap-decision making from entrepreneurial perspectives. It has also indicated viable further research areas such as pattern-recognition and the role of experience within intuitive influences during the snap-decision making experience.
―Education is when you read the fine print. Experience is what you get when you don‘t‖.
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