Abstract
This chapter provides an interpretation derived from the empirical evidence that cognitive diversity and bias as well as differences in perception and expectations have an impact on entrepreneurial-senior manager interrelationships in established entrepreneurial organizations. The cognition process includes strategic decision making, opportunity recognition, and exploitation, while specific biases relevant to this work include planning fallacy (Kahneman and Tversky 1979; Buehler et al. 2002), over optimism, representativeness, (Kahneman and Frederick 2002) and counterfactual thought (Miller and Taylor 1995). Evidence suggests that entrepreneurs are more susceptible to these biases than other populations but all parties failed to recognize the significance of these differences in entrepreneur-senior manager interrelationships in the context of established entrepreneurial firms.
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Taylor, L. (2017). The Cognition-Success-Attribution Cycle. In: The Entrepreneurial Paradox. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-56949-3_6
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DOI: https://doi.org/10.1057/978-1-137-56949-3_6
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