Entrepreneurial Cognitions: Assessing The Influence Of Cognitive Styles And Psychosocial Factors On Entrepreneurial Decision Making

ABSTRACT Entrepreneurial cognitions is gradually receiving attention in Ghana in recent times. The decisions people make concerning the development of entrepreneurial businesses are key in the performance of the business. The present study conducted a two-fold study using mixed methods, to examine the relationship between analytical and intuitive cognitive styles and entrepreneurial decision making approaches amongst community participants. Study one which was quantitative in nature administered questionnaires on the relationship between entrepreneurial cognitions and decision-making approaches to 272 participants located within the La Nkwantanang municipality, in Accra, Ghana. Study one reported that both cognitive styles significantly predicted entrepreneurial decision making approaches. Also demographic factors influenced the choice of entrepreneurial decision-making approaches. Psychosocial factors-perceived relational support, cultural orientations and psychological empowerment moderated the relationship between cognitive styles and at least one dimension of entrepreneurial decision-making approach. Study two was explorative in nature where participants’ experiences of entrepreneurial decision-making were explored. 12 participants with quasi-intuitive cognitive styles were purposively selected from the research pool of 272 and interviewed. The data generated from the transcribed data were analysed using thematic analysis. Three major themes: perceptions attached to entrepreneurial activities; perceptions of past entrepreneurial experiences on decisions towards future venture creation; and potential challenges in decision-making for entrepreneurial businesses were identified. Limitations of the study and their implications for future research and practice are discussed.