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In search of imagination in the mindsetArjan Frederiks

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Introduction

Entrepreneurial mindset: “The way [entrepreneurs] think and feel” (Krueger & Welpe, 2014)

Many scholars that imagination is important for entrepreneurs

(Baron, 2006; Baron & Ensley, 2006; Foss & Foss, 2008; Foss, et al, 2008; Gartner, 2007; Kaish

& Gilad, 1991; Lumpkin & Dess, 1996; Mathews, 2010; Sarasvathy, 2001; Witt, 1998; 2007)

Imagination is an important part of the entrepreneurial mindset

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Theory

Frontal regions of the brain (Wheeler, 1997)

Performed when the mind is not perceiving the present (Buckner, 2007)

Develops in humans from three or four years on (Atance & O’Neill, 2005)

Generates a simulation of a series of actions and events in concrete and specific form (Taylor et al, 1998)

Events seem real because imagination tends to be bounded by the constrains of reality (Kahneman & Miller, 1986)

Therefore, outcomes of imagination can function as a plan and are plausible and relevant to real-world problem solving activities (Taylor et al. 1998)

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Literature review

Imagination consists of three different processes:

Prospective thinking: “ability to ‘pre-experience’ the future by simulating it in our minds”

(Gilbert & Wilson, 2007: 1352)

Counterfactual thinking: “Think[ing] about what might have been” (Byrne, 2005: 1)

Perspective taking: “The cognitive capacity to consider the world from another individual’s

viewpoint” (Galisnky et al., 2008: 378)

Imagination is used for eight different entrepreneurial tasks, a.o.

Opportunities / business ideas

Future of the company or product

Scenarios and plans for company or product

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Findings

Processes and outcomes are dependent:

When thinking about a certain entrepreneurship related task, the use of some type of imagination process is more likely than others.

First results towards the link with success:

Future of company / product: beneficial

How stakeholders will act or think: not beneficial

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Methodological issues when measuring thinking processes

Diaires: is what entrepreneurs write down a true and complete overview of their thoughts?

Interviews: measures perception, are entrepreneurs aware of how they think? Retrospective bias

Surveys: how to measure imagination in standardized questions and scales?

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Methods from social neuroscience could advance

Different imagination processes, different places in the (frontal part) of the brain?

Also distinguish between processes on biological level?

Training imaginative thinking: experts and novice entrepreneurs?

Stronger evidence for current findings

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Thank you!Arjan Frederiks

a.j.frederiks@utwente.nl