Cognitive business is characterized by learning systems designed explicitly to collaborate with people in a conversational style and understand natural language. Cognitive business has the advantages of cognitive analytics. Instead of using predefined rules and structured queries to identify data to enable decision making, cognitive analytics uses cognitive computing technology to generate multiple hypotheses, gather and weigh evidence from multiple data sources to support each hypothesis, and rank hypotheses.
Hypotheses that score above a certain threshold are presented as recommendations along with a numerical score, to show the system’s confidence in each hypothesis. The quality of insights generated by cognitive analytics increases with more data, which is used to train machine learning algorithms.
With increasing attention to the application of cognitive approaches to industrial, occupational and organizational psychology, the last 40 years have witnessed a growing interest in the application of cognitive styles in building business.
Entrepreneurial cognition represents the processing of environmental information. How to identify opportunities and formulate appropriate strategies to take advantage of opportunities is a core problem that must be solved in the new business growth process. Social cognitive theory in particular emphasizes the influence of individual cognition and motivation on individual behavior.
With the development of internet technology and increasingly transparent information, business owners need to monitor various elements of the market and keep looking for market opportunities. In this process, individuals with different characteristics have different abilities to identify and capture opportunities.
Business owners have the characteristics and ability to see market opportunities without deliberately seeking compared to non-entrepreneurs. Strategic sensitivity (SSE) refers to the sensitivity of entrepreneurs to changes in the internal and external environment and differences in the entrepreneur’s SSE are formally caused by entrepreneurial cognition.
Therefore, based on social cognitive theory, this paper introduces the concept of SSE to explore the intermediary role in entrepreneurial cognition and BMI. On the one hand, the entrepreneur’s initial search for information on various market elements will shape the initial perception of the business owner element, which will affect the identification and capture of opportunities by influencing the SSE.
On the other hand, entrepreneurs will form a specific cognitive model in the process of processing all kinds of entrepreneurial information, which will subtly affect the entrepreneur’s SSE, and then infect and induce new venture BMI.
