Entrepreneurial decision-making for global strategies: a “heart–head” approach

Abstract

Purpose: The purpose of this study is to build a proposal for an integrated analysis / evaluation / decision / implementation framework to suit entrepreneurial companies intending to redefine their strategic behaviours and their competitive schemes in the global environment. Design/methodology/approach: A conceptual approach, based on theoretical perspectives relating to globalisation-based management and decision-making of entrepreneurs, is adopted. Findings: The paper presents a conceptual framework useful for supporting entrepreneurial decisions for global strategies, drawing on an integrated analysis of external environment and internal components, with a specific focus on the entrepreneur's characteristics in terms of cognitive and emotional profiles. It is suggested to adopt a logical process aimed at identifying which strategic levers are available for entrepreneurial players to implement their strategies. Practical implications: Entrepreneurial decision-making may benefit from an integrated framework which helps entrepreneurs, who aim to compete in the global marketplace, to explore and exploit all the key factors useful to defining their strategies. Originality/value: There is a lack of decision-making frameworks that put the entrepreneur at the centre and, at the same time, present a potential balance between the external factors (globalisation drivers and local opportunities) and the resources and competences required to manage risks and difficulties of the global environment (internal factors). The originality of the proposed framework consists in filling this gap. Moreover, this framework can be useful for “re-born global” or “global-again” firms that are currently a neglected typology of studied firms.