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Dela Cruz, Karen B.
#389 - SSP 04
BSME 2A
Dr. Deobela Fulo – Fortes
MODULE 7
THE ROLE OF EMOTIONS AND COGNITIONS IN
ENTREPRENEURIAL DECISION-MAKING
Assessment Task 7
Make a learning insight of how your emotions and cognitions affects you and your decisionmaking capabilities. Is there any positive or/and negative effects? If there is any positive effect,
how do you plan on nurturing this in order to help become a better entrepreneur? If it is negative
what are your courses of actions in order to cope on it and make a positive one?
In decision-making, emotions and cognitions enable people to examine their biases, question
presumptions, and make better decisions. People can improve their ability to make decisions by
actively managing their emotions, identifying cognitive biases, seeking out different viewpoints,
and encouraging critical thinking.
As far as I know, emotions can strongly influence decision-making by shaping the way
information is processed and evaluated. Emotions can have both positive and negative effects on
decision-making. On the other hand, cognitions, or cognitive processes, such as perception,
attention, memory, and reasoning, also play a crucial role in decision-making. Factors like
cognitive biases and limitations can impact the quality of decisions. For example, confirmation
bias, where individuals selectively seek information that confirms their existing beliefs, can
hinder objective decision-making. In the world of entrepreneurship, entrepreneurial cognitions
are the knowledge structures that people use to make assessments, judgments, or decisions
involving opportunity evaluation, venture creation, and growth, according to Mitchell.
Positive emotions and cognitions can significantly impact decision-making in various ways.
When you experience positive emotions like joy or enthusiasm, it can enhance your creativity,
problem-solving abilities, and overall cognitive flexibility. Positive emotions can broaden your
perspective, allowing you to consider a wider range of possibilities and make more informed
decisions.
I have four steps to nurture positive emotions and cognitions for better decision-making as an
entrepreneur. First, I need to cultivate a growth mindset. A growth mindset encourages positive
thinking and resilience, essential traits for entrepreneurs. The second is that I need to have a risk
assessment attitude because emotions can impact how you perceive risks. Being overly
optimistic might make you underestimate risks, while fear can lead to overestimation. Cultivate a
balanced perspective to assess risks realistically. Next is to stay optimistic; I need to maintain a
positive attitude even in challenging situations. I think optimism can help you see opportunities
amid difficulties, leading to better decisions. Lastly, I need to stay healthy. I think taking care of
your physical health positively influences your emotional state and decision-making abilities.
We all experience negative feelings sometimes, thus it's very hard to only feel-good ones.
Being able to handle unpleasant emotions is essential to an entrepreneur's ability to have an
optimistic outlook. These are the steps I'm going to take to deal with it and change it around.
Recognize that unpleasant feelings are a normal aspect of existence. Consider what is causing
those unfavorable feelings. One may address the underlying problems and work toward their
resolution by having a better understanding of why you feel the way you do. and adopt a growth
mentality, seeing obstacles as chances to improve. Negative experiences can be transformed into
worthwhile lessons by learning from mistakes and disappointments.
Negative emotions are normal, especially in the high-pressure climate of entrepreneurship.
The goal is to find coping techniques that work best for you and to actively nurture a positive
mindset, both of which are necessary for overcoming problems and attaining long-term success.
Finally, emotions and cognitions have a considerable impact on decision-making. Positive
emotions boost creativity and open-mindedness, resulting in better decisions. Negative emotions
can obscure judgment and make it difficult to cultivate positivity, practice appreciation, sustain
optimism, and develop a supporting network. Self-reflection, seeking assistance, mindfulness,
and setting realistic goals are all coping mechanisms that promote a good entrepreneurial
mentality.