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Exploring Positive Outcomes of Decision Making Biases in the Field of Entrepreneurial Marketing
Entrepreneurs make important decisions regarding different aspects of their enterprises. Given the bulk of uncertainty, complexity as well as the rapid rate of change in their business environment, entrepreneurs’ decisions, including their marketing decisions, are prone to decision-making biases. Previous research has mainly focused on the negative outcomes of decision-making biases for entrepreneurs. We argue that sometimes entrepreneurial decision-making biases could have positive outcomes, too. Ignoring these positive outcomes has led to a serious research gap in the field of entrepreneurship. Thus, in this paper, we attempted to explore positive outcomes of decision-making biases in entrepreneurs’ marketing decisions with a generic qualitative methodology. We gathered data by conducting semi-structured interviews with nascent Iranian entrepreneurs active in nanotechnology and biotechnology. The collected data were analyzed by thematic analysis. Our results indicate that survival in the market, overcoming the competition, propensity for innovation and growth are the main positive outcomes of entrepreneurial decision-making biases in entrepreneurial marketing. We recommend that future studies consider exploring other possible positive outcomes of decision-making biases in various entrepreneurs’ decisions.
Decision-Making Biases, Qualitative Inquiry, Escalation of Commitment, Overconfidence, Marketing, Nascent Entrepreneur
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Recommended APA Citation
Nouri, P., Imanipour, N., Talebi, K., & Zali, M. (2018). Exploring Positive Outcomes of Decision Making Biases in the Field of Entrepreneurial Marketing. The Qualitative Report, 23(6), 1364-1380. https://doi.org/10.46743/2160-3715/2018.3280