Identifying the Factors Affecting Strategic Decision-making Ability to Boost the Entrepreneurial Performance: A Hybrid Structural Equation Modeling - Artificial Neural Network Approach

Overview

Journal Front Psychol

Date 2022 Nov 17

PMID 36389590

Authors

Jiaying Feng

Ping Han

Wei Zheng

Asif Kamran

Affiliations

Soon will be listed here.

Abstract

This study builds a conceptual model of strategic decision-making ability that leads to entrepreneurial performance (EP) based on the two-system decision-making theory and logical analysis. An empirical approach using structural equation modeling - artificial neural network (SEM-ANN) was performed to describe the linear and nonlinear relationships in the proposed model. The empirical results reveal that strategic decision-making abilities are affected by five factors: attention, memory, thinking, emotion, and sentiment, and whose influence mechanisms and degrees are varied. Results also describe that these abilities have a positive effect on overall EP. Therefore, results suggest that businesses' strategic decision-making is usually strengthened when entrepreneurs have a clear understanding of these influencing elements, and the interaction between them leads to improved performance.

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