Evaluating Ventures Fast and Slow: Sensemaking, Intuition, and Deliberation in Entrepreneurial Resource Provision Decisions

Greg Fisher; Emily Neubert

doi:10.1177/10422587221093291

Evaluating Ventures Fast and Slow: Sensemaking, Intuition, and Deliberation in Entrepreneurial Resource Provision Decisions

¹ Kelley School of Business, Indiana University, Bloomington, IN, USA · ² Rawls College of Business, Texas Tech University, Lubbock, TX, USA

Entrepreneurship Theory and Practice 2023

We examine the decision process of individuals evaluating whether to support an entrepreneurial endeavor. Such decisions are made by individuals under conditions of ambiguity and equivocality. Therefore, it is nearly impossible for resource providers to adopt a purely rational evaluative process in assessing a venture. Building on insights from sensemaking and social and cognitive psychology, we elaborate a theoretical model combining sensemaking, intuition, and deliberation to account for how entrepreneurial support decisions are made. The model reflects individual and social factors that impact this decision process and provides a basis for understanding entrepreneurial support decisions across diverse actors and contexts.

DOI: 10.1177/10422587221093291
Volume: 47 (4)
Pages: 1298-1326
Language: en
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