Exploring the Interconnections between Sense making, Heuristics and Biases in the Field of Entrepreneurship

Sensemaking from its introduction has gained substantial attention from scholars in various fields. Its initial applications were limited to organizational studies, information technology and chaotic environments. Gradually, business, managerial and marketing scholars turned their attention to make the most of this prosperous field. In the field of entrepreneurship, sensemaking earned significance in explaining entrepreneurial opportunity creation and enactment of opportunities as well as entrepreneurs’ rhetorics, metaphors and narratives in justifying their decisions for other stakeholders by engaging in direct negotiations with them. Though sensemaking has been studied in some parts of entrepreneurship like opportunity-related topics, its vast possible implications have relatively remained understudied. One of these implications, according to our paper, is the relationship between sensemaking and entrepreneurial heuristics and biases. We have come to the conclusion that there is mutual relationship between entrepreneurial heuristics and biases on one hand and entrepreneurial sensemaking on the other hand. Our paper has great novelty in the field of entrepreneurship because this is the first paper that introduces relationship between entrepreneurial heuristics and biases and entrepreneurial sensemaking. So our propositions are precious not only for entrepreneurship scholars but also for entrepreneurs, themselves.