The Role of Maximizing or Satisficing Decision-Making Styles in Innovation and Launching New Ventures
This study explores how maximizing or satisficing decision making styles impact employees attitude toward entrepreneurship and propensity to launch a new venture. It also explores how innovation and need for cognition mediate this relationship. The data from 207 working professionals in the U.S. suggests that individuals with a maximizing decision-making style are significantly more oriented toward entrepreneurship and likely to start their own business than those who satisfice. This relationship was mediated by innovation and need for cognition, suggesting that maximizers may utilize an innovation strategy to pursue entrepreneurial endeavors.
Keywords - Maximizing, Satisficing, Innovation, Entrepreneurship, Decision Making