A cognitive study on driving mechanism of entrepreneurial team decision-making

This paper focuses on the entrepreneurial team’s decision-making and analyzes the driving mechanism of entrepreneurial decision-making from the cognitive perspective, which breaks away from the team structure and process driven research paradigm. Based on identifying the factors influencing entrepreneurial decision-making from cognitive perspective, the paper uses DEMATEL and Bayesian network to trace the key driving paths and key factors influencing entrepreneurial decision. The research draws out two key driving paths: one is the decision feasibility driven path with the opportunity recognition as its core, that is, {cognitive complexity/cognitive heuristic-entrepreneurial alertness-opportunity recognition-entrepreneurial decision-making}; the other is decision-making willingness with entrepreneurial self-efficacy as its core, that is, {cognitive heuristic-cognitive bias-risk cognition-entrepreneurial self-efficacy-entrepreneurial decision-making}. This study not only makes up for the problem of subject selection in existing research, enriches entrepreneurial decision-making research on entrepreneurial team, it also may help tackle the insufficient front-end research on entrepreneurial decision-making, thus improving cognition driven mechanism and logic research of entrepreneurial decision-making, so as to deepen the "cognition-decision" research.