The Absence of Entrepreneurial Foresight as a Reason of Entrepreneurial Failure

Abstract

Entrepreneurial behavior enabling the long-term successful survival on the market depends on each entrepreneur’s ability to foresee the circumstances of their enterprise and correctly make the needed decisions. Experience shows that this view into the near or remote entrepreneurial future is not the favorite of many entrepreneurs. So they fail in the start-up phase of their enterprise, or even later, by making wrong decisions or not foreseeing their circumstances. This fact generates such questions as what skills must entrepreneurs have to be able to anticipate their entrepreneurial future and its targets and where this ability for foresight comes from in humans. This question is nearly unexplored. So this short paper is a first step toward showing how other sciences (neurobiology, psychology) can lead to the skills that entrepreneurs should have to be able to run their enterprises in the present as well as in the future. This paper gives only a short view into the process of creating a model for a foresight-able entrepreneur, falsifiable in practice in the sense of critical rationalism. Thus, this paper is only a very first step toward learning more about foresight-oriented entrepreneurs.