Entrepreneurial Characteristics of Strategic Decision-Making and the Difference from Managers

Whenever factors are different for entrepreneurs than they are for managers, entrepreneurs seem have more abilities and skills which are useful in the strategic decision-making process. Managers are solely in favor when it comes to the high extent of centralization and formation of the organization, which is good for the ease of information gathering. Whether the importance of these structural determinants should not be underestimated, entrepreneurs are beneficial in more situations, due to their personalities. The most important entrepreneurial traits are their cognitive complexity, their tolerance for risk and their ability for opportunity recognizing. Comparing their traits to the factors of importance in strategic decision-making, it seems that entrepreneurs have better skills and traits to consciously or subconsciously commit to the strategic decision-making process in a way that is more successful than it is when it comes to managers. DOI: 10.5901/jesr.2014.v4n5p8