Work

A scientific approach to decision-making: Key tools and design principles

Year: 2024

Type: article

Abstract: The recent empirical studies have shown the positive impact of a scientific approach to decision-making on entrepreneurial performance. Building on this evidence, this article offers a description of the scientific approach that is oriented toward its practical implementation by entrepreneurs. Focusing on the approach's two main pillars – the processes of theory building and evidence gathering – we outline a set of tools developed to facilitate the application of the scientific approach in practical decision-making activities. Ultimately, we derive a set of design principles that researchers can adopt to develop novel tools and methodologies to aid entrepreneurial actions based on the prescriptive aspects of the scientific approach.

Source: Journal of Business Venturing Design

DOI: 10.1016/j.jbvd.2024.100023

Authors: Andrea Coali, Elena Novelli, Anusha Sirigiri, Chiara Spina

Institutions: Bocconi University, City, University of London, Indian School of Business, INSEAD, INSEAD

Language: English

Topic: Entrepreneurship Studies and Influences

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $2,000

Funders: Government of the United Kingdom, Ministero dell’Istruzione, dell’Università e della Ricerca, Università Bocconi, City, University of London