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Journal of Leadership & Organizational Studies
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Taken on Faith? The Impact of Uncertainty, Knowledge Relatedness, and Richness of Information on Entrepreneurial Opportunity Exploitation

Matthew S. Wood

University of North Carolina Wilmington, woodms{at}uncw.edu

J. Michael Pearson

Southern Illinois University at Carbondale

This article develops a theoretical model that suggests that differential levels of uncertainty, knowledge relatedness, and richness of information will have a substantial impact on the decision to engage in entrepreneurship. Effects of the individual differences fear of failure and general self-efficacy are also considered. Using a metric conjoint methodology, respondents are asked to evaluate a series of profiles with different levels of each attribute and then indicate their willingness to invest in an entrepreneurial opportunity. This approach allows for the calculation of main and interaction effects as well as the importance of each factor in the investment decision. Results indicated that all three factors and their interactions play a significant role in the decision to engage in entrepreneurial action. The degree of opportunity-related uncertainty was found to be the most important factor in the decision-making process.

Key Words: entrepreneurial opportunity • opportunity exploitation • cognition • action

This version was published on November 1, 2009

Journal of Leadership & Organizational Studies, Vol. 16, No. 2, 117-130 (2009)
DOI: 10.1177/1548051809335358
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