What Causes Inaccurate Decision Making in Entrepreneurship?
Inaccurate decision making in entrepreneurship can arise from several factors. One primary cause is the lack of data or reliance on insufficient or outdated information. Entrepreneurs often make decisions based on gut feelings rather than empirical evidence. Cognitive biases like confirmation bias and overconfidence can also skew perception and lead to poor choices. Additionally, external pressures such as time constraints and financial limitations can force entrepreneurs into making hasty decisions without proper due diligence.