Opportunity recognition in family entrepreneurship: voluntaristic and deterministic orientations of individual cognitions. (2nd January 2020)

• Record Type: Journal Article
• Authors: Wang, Cizhi; Pellegrini, Massimiliano Matteo; Czakon, Wojciech; Gnan, Luca; Flamini, Giulia
• Is Part Of: Journal of small business and entrepreneurship. Volume 32:Number 1(2020)
• Page Start: 101
• Page End: 122
• Publication Date: 2020-01-02
• Subjects: Opportunity recognition -- collective decision-making process -- family entrepreneurship -- family business; identification d'opportunités; les processus collectif de décision; l'entrepreneuriat familial; entreprises familiale; Small business -- Periodicals; Small business -- Canada -- Periodicals; Entrepreneurship -- Periodicals; Petites et moyennes entreprises -- Périodiques; Petites et moyennes entreprises -- Canada -- Périodiques; Entrepreneurs (Économie politique) -- Périodiques; 658.022
• DOI: 10.1080/08276331.2018.1534033
• Languages: English
• ISSNs: 0827-6331

Abstract

Abstract: This article focuses on the multi-subject opportunity recognition processes in family firms recognizing the mutual impact of individuals and collective cognitions shared by the multiple subjects. In doing so, we propose an interpretative framework based on distinguishing two psychological perspectives: following a deterministic approach, we outline the impact of a collective cognition on individual cognitions of the participants; on the other hand, a voluntaristic approach shows the impact of individuals on collective cognitions in terms of intuition, emotional support, and perception. Specifically, we stress the need of a more voluntaristic approach in family business literature, examining the sources of family members' heterogeneous individual cognitions. Such differences can be analyzed through the entrepreneurial family vision which encompasses both on a temporal focus prospected future market conditions and the composition of different individual cognitions via a family's value congruence. We propose that the first element confers a forwarding looking to the prospect on opportunity recognition, while the second one grants to such a prospect a collectively shared understanding.