The Decision-Making Environment for the Entrepreneurial Student

Abstract

Entrepreneurs are a product of their social environment. The manner by which they perceive opportunities; access or process information; and make decisions is, influenced by both social interaction, and their social background. Using insights from Socially Situated Cognition (SSC) theory, that posits one’s social environment can have a normative or informative effect on decision-making process we consider proximal social factors influencing the decision-making processes of student entrepreneurs. We propose that entrepreneurial education, networking, and incubation spaces provide direct information to students to aid entrepreneurial decision-making, and indirect informational cues that are situational, synergistic and omnipresent. Noting the multi-faceted and dynamic nature of the entrepreneurial journey of the student, we explore the potential effect of each of these factors on the student decision-making process. We discuss the implications of this inquiry from a researcher and educator perspective, and note the current challenges faced by student entrepreneurs in a socially distanced educational and entrepreneurial context. It is envisaged that this paper will serve as the basis for further thought and empiricism.