Tacit Triggers of Entrepreneurial Activity: Limitations of Current Theories

Yuliyan Narlev – University of Economics Varna, Bulgaria

Abstract: Entrepreneurial activity is often influenced by tacit knowledge— unarticulated, experience-based insights—yet current theories primarily focus on rational decision-making models. This paper aims to address the limitations of these models by exploring the role of tacit triggers, such as intuition, cultural influences, and emotional factors, in entrepreneurial decision-making.

The study reviews existing literature to identify key gaps, including an over­emphasis on cognitive frameworks, insufficient consideration of social and cultural contexts, and a lack of focus on emotional and psychological triggers. Additionally, it examines the undervalued role of failure and the limited inte­gration of technological change in existing theories.

Methods include a critical review of key academic papers and books, drawing on insights from entrepreneurship theory, cognitive science, and knowledge management. The study synthesizes these perspectives to propose a more comprehensive understanding of tacit triggers in entrepreneurial activity.

Results show that current theories are overly reliant on rational models, which fail to account for the intuitive and non-cognitive dimensions of entrepreneurial action. The review highlights the need for greater attention to cross-cultural variations, emotional resilience, and the role of failure as a learning tool.

Conclusion: To better understand the complex nature of entrepreneurship, future research should expand beyond rational models to include the emotional, social, and cultural dimensions of tacit knowledge. Moreover, there is a need for further exploration of how digital tools and technological advancements are reshaping the way entrepreneurs acquire and utilize tacit knowledge.

This paper calls for more interdisciplinary research that integrates psycho­logical, cultural, and technological factors into theories of entrepreneurial decision-making.

8th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2024 – Conference Proceedings, Hybrid (Zayed University, Dubai, UAE), October 24, 2024

ITEMA Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ITEMA conference partners: Faculty of Economics and Business, University of Maribor, Slovenia; Faculty of Organization and Informatics, University of Zagreb, Varaždin; Faculty of Geography, University of Belgrade, Serbia; Institute of Marketing, Poznan University of Economics and Business, Poland; Faculty of Agriculture, Banat’s University of Agricultural Sciences and Veterinary Medicine ”King Michael I of Romania”, Romania

ITEMA Conference 2024 Conference Proceedings: ISBN 978-86-80194-89-9, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.2024

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