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The usage of total knowledge by entrepreneurs in business decision-making

Publicated to:European Public & Social Innovation Review - Epsir. 9 (9): - 2024-06-28 9(9), DOI: 10.31637/epsir-2024-1008

Authors: Giner-Crespo V; Azuara-Grande A; Saldaña-Larrondo DE

Affiliations

International University of La Rioja - Author
Universidad Rey Juan Carlos - Author

Abstract

Introduction: This paper proposes the identification of those attributes of knowledge that entrepreneurs consider most important in the process of making their business decisions. Methodology: This main objective is finally described by obtaining a ranking, which, through the application of the analytic hierarchy process (AHP), will allow them to establish their priorities with respect to these attributes through a multi-criteria decision process. In order to obtain this priority ranking, a survey with a sample of 362 valid entrepreneurs’ responses in the Spanish metropolitan regions of Madrid and Barcelona was conducted. Furthermore, data validation was supervised by a panel of experts formed with 40 entrepreneurs. Results: The results of this research indicate that explicit and tacit knowledge form the same unit of knowledge necessary for decision making, instead of the weight that one dimension may have over the other one in the decisions of the entrepreneurs surveyed. Discussions: The ranking obtained will serve as a basis for the implementation of future specific proposals to this group. Conclusions: This research could be extrapolated to other geographical areas or types of entrepreneurs in different countries to obtain possible differences between entrepreneurial cultures. This also could identificate differences between professionals with different levels of training.

Keywords

Artificial intelligenceCognitive biasesDecision-makingEntrepreneursInformationKnowledge

Quality index

Bibliometric impact. Analysis of the contribution and dissemination channel

The work has been published in the journal European Public & Social Innovation Review - Epsir, Q3 Agency Scopus (SJR), its regional focus and specialization in Sociology and Political Science, give it significant recognition in a specific niche of scientific knowledge at an international level.

Impact and social visibility

From the perspective of influence or social adoption, and based on metrics associated with mentions and interactions provided by agencies specializing in calculating the so-called "Alternative or Social Metrics," we can highlight as of 2025-06-16:

  • The use of this contribution in bookmarks, code forks, additions to favorite lists for recurrent reading, as well as general views, indicates that someone is using the publication as a basis for their current work. This may be a notable indicator of future more formal and academic citations. This claim is supported by the result of the "Capture" indicator, which yields a total of: 22 (PlumX).

It is essential to present evidence supporting full alignment with institutional principles and guidelines on Open Science and the Conservation and Dissemination of Intellectual Heritage. A clear example of this is:

  • The work has been submitted to a journal whose editorial policy allows open Open Access publication.
  • Additionally, the work has been submitted to a journal classified as Diamond in relation to this type of editorial policy.