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Corporate entrepreneurship initiatives: Antagonizing cognitive biases in business model design

Author

Listed:
  • Mirjam Roessler

    (Leipzig Graduate School of Management)

  • Vivek Velamuri

    (Leipzig Graduate School of Management)

  • Dirk Schneckenberg

    (ESC [Rennes] - ESC Rennes School of Business)

Abstract

Entrepreneurs designing novel business model configurations face cognitive biases that derive from limited mental capacity to deal with complex and uncertain decision contexts. Building on the notion of the business model as an idiosyncratic mental representation that organizes managerial understanding of value creating and value capture, we investigate how entrepreneurs cope with cognitive biases inherent in business model design. We conducted a total of 35 in‐depth interviews with entrepreneurs situated in 15 corporate entrepreneurship initiatives in Germany. Our study results suggest that entrepreneurs counter cognitive biases by combining intuitive and deliberate reasoning approaches. Specifically, we identify five cognitive mechanisms and two higher level cognitive processes undergirding entrepreneurial reasoning in the design of new business models. Our findings provide empirically grounded insights into the cognitive perspective in business model research and help to theorize managerial reasoning during the process of business model design.

Suggested Citation

  • Mirjam Roessler & Vivek Velamuri & Dirk Schneckenberg, 2019. "Corporate entrepreneurship initiatives: Antagonizing cognitive biases in business model design," Post-Print hal-02285480, HAL.
    • Handle: RePEc:hal:journl:hal-02285480
    DOI: 10.1111/radm.12340
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    Cited by:

    1. Daniela Andreini & Cristina Bettinelli & Nicolai J. Foss & Marco Mismetti, 2022. "Business model innovation: a review of the process-based literature," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(4), pages 1089-1121, December.
    2. Haftor, Darek. M. & Climent Costa, Ricardo, 2023. "Five dimensions of business model innovation: A multi-case exploration of industrial incumbent firm’s business model transformations," Journal of Business Research, Elsevier, vol. 154(C).
    3. Ghezzi, Antonio, 2020. "How Entrepreneurs make sense of Lean Startup Approaches: Business Models as cognitive lenses to generate fast and frugal Heuristics," Technological Forecasting and Social Change, Elsevier, vol. 161(C).

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