Cognitive Adaptability and an Entrepreneurial Task: The Role of Metacognitive Ability and Feedback

Entrepreneurship: Theory and Practice

Volumn 36, Issue 2, 2012, Pages 237-265

  Haynie, J Michael ^a   Shepherd, Dean A ^b   Patzelt, Holger ^c  

^a SYRACUSE UNIVERSITY   (United States)

^b INDIANA UNIVERSITY   (United States)

^c MAX PLANCK INSTITUTE FOR THE SCIENCE OF HUMAN HISTORY   (Germany)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84858378488     PISSN: 10422587     EISSN: 15406520     Source Type: Journal    
DOI: 10.1111/j.1540-6520.2010.00410.x     Document Type: Article

References (111)

1. Aguilar, F.J. (1967). Scanning the business environment. New York: MacMillan.
2. Akama, K. & Yamauchi, H. (2004). Task performance and metacognitive experiences in problem-solving. Psychological Reports, 94(2), 715-722.
3. Allen, B. & Armour-Thomas, E. (1993). Construct validation of metacognition. Journal of Psychology, 127(2), 203-211.
4. Alvarez, S. & Busenitz, L. (2001). The entrepreneurship of resource-based theory. Journal of Management, 27(6), 755-776.
5. Ansoff, H.I. (1979). Strategic management. London: Macmillan.
6. Balzer, W., Doherty, M., & O'Connor, R. (1989). Effects of cognitive feedback on performance. Psychological Bulletin, 106(3), 410-433.
7. Balzer, W., Hammer, L., & Sumner, K. (1994). Effects of cognitive feedback components, display format, and elaboration on performance. Organizational Behavior and Human Decision Processes, 58(3), 369-385.
8. Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17, 99-121.
9. Baron, R. (2000). Counterfactual thinking and venture formation: The potential effects of thinking about "what might have been. Journal of Business Venturing, 15(1), 79-92.
10. Baron, R. (2006). Opportunity recognition as pattern recognition: How entrepreneurs "connect the dots" to identify new business opportunities. Academy of Management Perspectives, 20(1), 104-119.
11. Baron, R. & Ensley, M. (2006). Opportunity recognition as the detection of meaningful patterns: Evidence from comparisons of novice and experienced entrepreneurs. Management Science, 52(9), 1331-1344.
12. Baron, R. & Ward, T. (2004). Expanding entrepreneurial cognition's toolbox: Contributions from the field of cognitive science. Entrepreneurship Theory and Practice, 28(6), 553-573.
13. Brehmer, A. & Brehmer, B. (1988). What have we learned about human judgment from thirty years of policy capturing? In B. Brehmer & C. Joyce (Eds.), Human judgment: The SJT view (pp. 75-114). North Holland: Elsevier.
14. Brehmer, B. (1980). In one word: Not from experience. Acta Psychologica, 45, 223-241.
15. Brehmer, B. (1987). Development of mental models for decision in technological systems. In B. Brehmer & C.R.B. Joyce (Eds.), New technology and human error (pp. 111-120). New York: John Wiley & Sons.
16. Brehmer, B. (1990). Strategies in real-time, dynamic decision making. In R.M. Hogarth (Ed.), Insights in decision making (pp. 262-279). Chicago: University of Chicago Press.
17. Brehmer, B. (1995). Feedback delays in complex dynamic decision tasks. In P.A. Frensch & J. Funke (Eds.), Complex problem solving: The European perspective Hillsdale, NJ: Lawrence Erlbaum Associates.
18. Brock, D. & Slusky, L. (1994). Attitudes toward computers: Construct validation and relations to computer use. Journal of Organizational Behavior, 15, 17-36.
19. Brown, T. (1972). A comparison of judgmental policy equations obtained from human judges under natural and contrived conditions. Mathematics Bioscience, 15, 205-230.
20. Busenitz, L. & Barney, J. (1997). Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision making. Journal of Business Venturing, 12(1), 9-30.
21. Cacioppo, J., Petty, R., & Kao, C. (1984). The efficient assessment of need for cognition. Journal of Personality Assessment, 48, 306-307.
22. Castellan, N.J. (1974). The effect of different types of feedback in multiple-cue probability learning. Organizational Behavior and Human Performance, 11, 44-64.
23. Chaput de Saintonge, D. & Hathaway, N. (1981). Antibiotic use in otitis media: Patient simulations as an aid to audit. British Medical Journal, 283, 883-884.
24. Choi, Y. & Shepherd, D.A. (2004). Entrepreneurs' decisions to exploit opportunities. Journal of Management, 30(3), 377-395.
25. Christensen, C.M. (1997). Innovator's dilemma: When new technologies cause great firms to fail. Cambridge, MA: Harvard Business School Press.
26. Cliff, J.E., Jennings, P.D., & Greenwood, R. (2006). New to the game and questioning the rules: The experiences and beliefs of founders who start imitative versus innovative firms. Journal of Business Venturing, 21, 633-663.
27. Cohen, J. & Cohen, P. (1983). Applied multiple regression/correlation analysis for the behavioral sciences. Hillsdale, NJ: Lawrence Erlbaum Associates, Inc.
28. Cooper, A., Gimeno-Gascon, J., & Woo, C. (1994). Initial human and financial capital as predictors of new venture performance. Journal of Business Venturing, 371-395.
29. Copeland, R., Francia, A., & Strawser, R. (1973). Students as subjects in behavioral research. Accounting Review, 48, 365-372.
30. DeSarbo, W., MacMillan, I., & Day, D. (1987). Criteria for corporate venturing: Importance assigned by managers. Journal of Business Venturing, 2, 329-350.
31. Dutton, J.E. & Duncan, R.B. (1987). The creation of momentum for change through the process of strategic issue diagnosis. Strategic Management Journal, 8, 279-295.
32. Dutton, J.E. & Jackson, S.E. (1987). Categorizing strategic issues: Links to organizational action. Academy of Management Review, 12(1), 76-90.
33. Earley, P.C. & Ang, S. (2003). Cultural intelligence: Individual interactions across cultures. Palo Alto, CA: Stanford University Press.
34. Earley, P.C., Connolly, T., & Ekegren, G. (1989). Goals, strategy development, and tack performance: Some limits on the efficacy of goal setting. Journal of Applied Psychology, 74(1), 24-34.
35. Einhorn, H.J. & Hogarth, R.M. (1978). Confidence in judgement: Persistence of the illusion of validity. Psychological Review, 85(5), 395-416.
36. Epstein, S., Pacini, R., Denes-Raj, V., & Heier, H. (1996). Individual differences in intuitive-experiential and analytical-rational thinking styles. Journal of Personality and Social Psychology, 7, 390-416.
37. Ericsson, K.A. (2005). Recent advances in expertise research: A commentary on the contributions to the special issue. Applied Cognitive Psychology, 19(2), 223-241.
38. Ericsson, K. (2007). Toward a science of expert and exceptional performance in sport: A reply to the Commentaries. International Journal of Sport Psychology, 38(1), 109-123.
39. Ericsson, K., Nandagopal, K., & Roring, R. (2005). Giftedness viewed from the expert-performance perspective. Journal for the Education of the Gifted Special Issue: Nature, Nurture, and the Development of Exceptional Competence, 28(3-4), 287-311.
40. Fischhoff, B. (1982). Debiasing. In D. Kahneman, P. Slovic, & A. Tversky (Eds.), Judgment under uncertainty: Heuristics and biases (pp. 422-444). Cambridge: Cambridge University Press.
41. Flavell, J. (1979). Metacognition and cognitive monitoring: A new area of cognitive-developmental inquiry. American Psychologist, 34(10), 906-911.
42. Flavell, J.H. (1987). Speculations about the nature and development of metacognition. In F. Weinert & R. Kluwe (Eds.), Metacognition, motivation, and understanding (pp. 21-29). Hillsdale, NJ: Erlbaum.
43. Ford, K., Smith, E., Weissbein, D., Gully, S., & Salas, E. (1998). Relationships of goal orientation, metacognitive activity, and practice strategies with learning outcomes and transfer. Journal of Applied Psychology, 83(2), 218-233.
44. Förster, J., Higgins, E.T., & Idson, L.C. (1998). Approach and avoidance strength during goal attainment: Regulatory focus and the "goal looms larger" effect. Journal of Personality and Social Psychology, 75, 1115-1131.
45. Garner, R. & Alexander, P. (1989). Metacognition: Answered and unanswered questions. Educational Psychologist, 24(2), 143-158.
46. Gentner, D. & Collins, A. (1981). Inference from lack of knowledge. Memory and Cognition, 9, 434-443.
47. Glasspool, D. & Fox, J. (2005). Knowledge, argument and meta-cognition in routine decision-making. In T. Betsch & S. Haberstroh (Eds.), The routines of decision making (pp. 343-358). Hillsdale, NJ: Lawrence Erlbaum.
48. Glenberg, A. & Epstein, W. (1987). Inexpert calibration of comprehension. Memory & Cognition, 15, 84-93.
49. Gonzalez, C. (2004). Learning to make decisions in dynamic environments: Effects of time constraints and cognitive abilities. Human Factors, 46(3), 449-460.
50. Green, P. (1984). Hybrid models for conjoint analysis: An expository review. Journal of Marketing Research, 21, 155-169.
51. Green, P., Krieger, A., & Wind, Y. (2001). Thirty years of conjoint analysis: Reflections and prospects. Interfaces, 31, S56-S73.
52. Hahn, G. & Shapiro, S. (1966). A catalogue and computer program for the design and analysis of orthogonal symmetric and asymmetric fractional factorial designs. Report No. 66-C-165. General Electric Corporation, Schenectady, NY.
53. Hammond, K. & Adelman, L. (1976). Science, values, and human judgment. Science, 194, 389-397.
54. Hammond, K.R., Summers, D.A., & Deane, D.H. (1973). Negative effects of outcome feedback in multiple-cue probability learning. Organizational Behavior and Human Performance, 9, 30-34.
55. Harkness, A.R., Tellegen, A., & Waller, N. (1995). Differential conversion of self-report and informant data for multidimensional personality questionnaire traits: Implications for the construct of negative emotionality. Journal of Personality Assessment, 64, 185-205.
56. Haynie, J.M. & Shepherd, D.A. (2009). A measure of cognitive adaptability for entrepreneurship research. Entrepreneurship Theory and Practice, 33(3), 695-714.
57. Haynie, J.M., Shepherd, D.A., Mosakowski, E., & Earley, C. (2009). Cognitive adaptability: The theoretical origins of the entrepreneurial mindset. Journal of Business Venturing, 25(2), 217-229.
58. Hayward, M., Shepherd, D., & Griffin, D. (2006). A hubris theory of entrepreneurship. Management Science, 52(2), 160-172.
59. Higgins, E. (1997). Beyond pleasure and pain. American Psychologist, 52, 1280-1300.
60. Higham, P. & Gerrard, C. (2005). Not all errors are created equal: Metacognition and changing answers on multiple choice tests. Canadian Journal of Experimental Psychology, 59, 28-34.
61. Hill, R.C. & Levenhagen, M. (1995). Metaphors and mental models: Sensemaking and sensegiving in innovative and entrepreneurial activities. Journal of Management, 21(6), 1057-1074.
62. Hitt, M. (2000). The new frontier: Transformation of management for a new millennium. Organization Dynamics, 28(3), 6-18.
63. Hitt, M.A., Keats, B.W., & DeMarie, S. (1998). Navigating in the new competitive landscape: Building strategic flexibility and competitive advantage in the 21st century. Academy of Management Executive, 12(4), 22-42.
64. Huber, J. (1987). Conjoint analysis: How we got here and where we are. Sawtooth Software Research Paper Series.
65. Ireland, R. & Hitt, M. (1999). Achieving and maintaining strategic competitiveness in the 21st century: The role of strategic leadership. Academy of Management Executive, 13(1), 43-57.
66. Ireland, D., Hitt, M., & Sirmon, D. (2003). A model of strategic entrepreneurship: The construct and its dimensions. Journal of Management, 29(6), 963-990.
67. Kacmar, M. & Carlson, D. (1997). Further validation of the perceptions of politics scale (POPS): A multiple sample investigation. Journal of Management, 23, 627-659.
68. Keisler, S. & Sproul, L. (1982). Managerial responses to changing environments: Perspectives on problem sensing from social cognition. Administrative Science Quarterly, 27, 548-570.
69. Koriat, A. & Shitzer-Reichert, R. (2002). Metacognitive judgments and their accuracy: Insights from the processes underlying judgments of learning in children. In P. Chambres, M. Izaute, & P-J. Marescaux (Eds.), Metacognition: Process, function, and use (pp. 1-17). New York: Kluwer.
70. Krause, S., Frese, M., Friedrich, C., & Unger, J. (2005). Entrepreneurial orientation: A psychological model of success among southern African small business owners. European Journal of Work and Organizational Psychology, 14(3), 315-328.
71. LePine, J., Colquitt, J., & Erez, A. (2000). Adaptability to changing task contexts: Effects of general cognitive ability, conscientiousness, and openness to experience. Personnel Psychology, 53, 563-593.
72. Lerch, F.J. & Harter, D.E. (2001). Cognitive support for real-time dynamic decision making. Information Systems Research, 12(1), 63-82.
73. Lowe, R. & Ziedonis, A. (2006). Overoptimism and the performance of entrepreneurial firms. Management Science, 52(2), 173-186.
74. Lyles, M. & Mitroff, I. (1980). Organizational problem formulation: An empirical study. Administrative Science Quarterly, 25(2), 102-119.
75. McGrath, R. & MacMillan, I. (2000). The entrepreneurial mindset: Strategies for continuously creating opportunity in an age of uncertainty. Canbridge, MA: Harvard Business School Press.
76. Mitchell, R., Smith, B., Seawright, K., & Morse, E. (2000). Cross-cultural decisions and the venture creation decision. Academy of Management Journal, 43(5), 974-994.
77. Neter, J., Wasserman, W., & Kutner, M. (1990). Applied linear statistical models (3rd ed.). Boston: Irwin.
78. Nutt, P.C. (1979). Influence of decision styles on use of decision models. Technological Forecasting and Social Change, 14, 77-93.
79. Priem, R.L. (1994). Executive judgment, organizational congruence, and firm performance. Organization Science, 5, 421-437.
80. Priem, R. & Harrison, D. (1994). Exploring strategic judgment: Methods for testing the assumptions of prescriptive contingency theories. Strategic Management Journal, 15, 311-324.
81. Remus, W., O'Conner, M., & Griggs, K. (1996). Does feedback improve the accuracy of recurrent judgmental forecasts? Organizational Behavior and Human Decision Processes, 66, 22-30.
82. Riquelme, H. & Rickards, T. (1992). Hybrid conjoint analysis: An estimation probe in new venture decisions. Journal of Business Venturing, 7, 505-518.
83. Romanelli, E. (1989). Environments and strategies of organizational start up: Effects on early survival. Administrative Science Quarterly, 34, 369-387.
84. Sanna, L. & Schwarz, N. (2007). Metacognitive experiences and hindsight bias: It's not just the thought (content) that counts! Social Cognition, 25(1), 185-202.
85. Sarasvathy, S.D. (2001). Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Academy of Management Review, 26(2), 243-288.
86. Schmidt, A. & Ford, K. (2003). Learning within a learner control training environment: The interactive effects of goal orientation and metacognitive instruction on learning outcomes. Personnel Psychology, 56(2), 405-429.
87. Schneider, W., Visé, M., Lockl, I.K., & Nelson, T.O. (2000). Developmental trends in children's memory monitoring: Evidence from a judgment-of-learning task. Cognitive Development, 15, 115-134.
88. Schraw, G. (1995). Measures of feeling-of-knowing accuracy: A new look at an old problem. Applied Cognitive Psychology, 9, 321-322.
89. Schraw, G. (1998). Promoting general metacognitive awareness. Instructional Science, 26(1-2), 113-125.
90. Schraw, G. & Dennison, R. (1994). Assessing metacognitive awareness. Contemporary Educational Psychology, 19, 460-475.
91. Schwartz, N. (1998). Accessible content and accessibility experiences: The interplay of declarative and experiential information in judgment. Personality and Social Psychology Review, 2(2), 87-99.
92. Schwartz, N. (2004). Meta-cognitive experiences in consumer judgment and decision making. Journal of Consumer Psychology, 14, 332-348.
93. Shane, S. (2000). Prior knowledge and the discovery of entrepreneurial opportunities. Organization Science, 11, 448-469.
94. Shepherd, D. (1999). Venture capitalists' assessment of new venture survival. Management Science, 45(5), 621-632.
95. Shepherd, D.A. (2003). Learning from business failure: Propositions of grief recovery for the self-employed. Academy of Management Review, 28(2), 318-328.
96. Song, M., Podoynitsyna, K., van der Bij, H., & Halman, J. (2008). Success factors in new ventures: A meta-analysis. Journal of Product Innovation Management, 25(1), 7-27.
97. Staw, B. & Boettger, R. (1990). Task revision: A neglected form of work performance. Academy of Management Journal, 33(3), 534-560.
98. Staw, B., Sandelands, L., & Dutton, J. (1981). Threat-rigidity effects in organizational behavior: A multi-level analysis. Administrative Science Quarterly, 26, 501-524.
99. Sterman, J. (1989a). Misperceptions of feedback in dynamic decision making. Organizational Behavior and Human Decision Processes, 43(3), 301-335.
100. Sterman, J. (1989b). Modeling managerial behavior: Misperceptions of feedback in a dynamic decision making experiment. Management Science, 35(3), 321-339.
101. Sternberg, R. (1986). Intelligence applied: Understanding and increasing your intellectual skills. Cambridge: Cambridge University Press.
102. Stewart, T.R. (1993). Judgment analysis: Procedures. In B. Brehmer & C.R.B. Joyce (Eds.), Human judgement: The SJT view (pp. 41-74). New York: North-Holland.
103. Tripsas, M. & Gavetti, G. (2000). Capabilities, cognition and inertia: Evidence from digital imaging. Strategic Management Journal, 21, 1147-1161.
104. Ucbasaran, D., Wright, M., & Westhead, P. (2008). Opportunity identification and pursuit: Does an entrepreneur's human capital matter? Small Business Economics, 30, 153-173.
105. Van der Vegt, G. & Van De Vliert, E. (2005). Effects of perceived skill dissimilarity and task interdependence on helping in work teams. Journal of Management, 31, 73-90.
106. Venkataraman, S. (1997). The distinctive domain of entrepreneurship research: An editor's perspective. In J. Katz & J. Brockhaus (Eds.), Advances in entrepreneurship, firm emergence, and growth. Greenwich, CT: JAI Press.
107. Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5, 171-180.
108. Westhead, P., Ucbasaran, D., & Wright, M. (2005). Decisions, actions and performance: Do novice, serial and portfolio entrepreneurs differ? Journal of Small Business Management, 43, 393-417.
109. Wiklund, J. & Shepherd, D. (2003). Aspiring for and achieving growth: The moderating role of resources and opportunities. Journal of Management Studies, 40(8), 1920-1941.
110. Wright, M., Robbie, K., & Ennew, C.T. (1997). Venture capitalists and serial entrepreneurs. Journal of Business Venturing, 12(3), 227-249.
111. Zhang, Z. & RiCharde, R. (1999). Intellectual and metacognitive development of male college students: A repeated measures approach. Journal of College Student Development, Nov/Dec, 1-18.