Skip to main content
SpringerLink
Log in

Cognitive Versatility

  • Living reference work entry
  • First Online:
The Palgrave Encyclopedia of the Possible

Abstract

According to dual-process theories of cognition, human beings process information by means of two independent but interactive types of cognitive processes, namely: Type 1, which is rapid, non-conscious, and automatic, and produces intuition; and Type 2, which is slower, conscious, and controlled, and leads to analysis (Evans and Stanovich 2013). A key premise of dual-process theories is that Type 1 and Type 2 processes operate independently from and in parallel with each other, and may therefore co-occur at different levels. This has given rise to the notion of cognitive versatility, which refers to the extensive use of both intuition and analysis, together with the ability to switch between them as needed (Hodgkinson and Clarke 2007). This entry begins by outlining the evolution of research on human cognition and cognitive versatility, followed by an overview of the key features of intuition, analysis, and cognitive versatility including the main contextual factors that are likely to shape their deployment. It concludes with suggestions on how these cognitive processes may lead to the discernment of possibilities and the estimation of probabilities.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution

Institutional subscriptions

References

  • Aggarwal, I., & Molinaro, M. S. (2013). Cognitive versatility: A new lens for understanding team composition and diversity. Academy of Management Annual Meeting Proceedings.

    Google Scholar 

  • Aggarwal, I., Schilpzand, M. C., Martins, L. L., & Molinaro, M. S. (2019). Team cognitive versatility: Managing cognitive diversity in teams. Academy of Management Annual Meeting Proceedings.

    Google Scholar 

  • Baldacchino, L. (2013). Entrepreneurial experience and opportunity identification: The role of intuition and cognitive versatility. PhD, University of Warwick.

    Google Scholar 

  • Baldacchino, L. (2019). Intuition in entrepreneurial cognition. In A. Caputo & M. Pellegrini (Eds.), The anatomy of entrepreneurial decisions: Past, present and future research directions (pp. 29–56). Springer Nature: Switzerland.

    Chapter  Google Scholar 

  • Baldacchino, L., & Boffa, N. (2021). The role of intuition in entrepreneurial opportunity exploitation. Paper presented at the EURAM (European Academy of Management) Annual Conference.

    Google Scholar 

  • Baldacchino, L., Ucbasaran, D., Lockett, A., & Cabantous, L. (2013). Cognitive versatility and opportunity identification: The role of experience, intuition and analysis. In The Babson/Emlyon Business School Frontiers of Entrepreneurship Research Conference.

    Google Scholar 

  • Baldacchino, L., Ucbasaran, D., & Cabantous, L. (2014). Experience and opportunity identification: The role of intuition and cognitive versatility. Academy of Management Annual Meeting Proceedings.

    Google Scholar 

  • Baldacchino, L., Ucbasaran, D., Cabantous, L., & Lockett, A. (2015). Entrepreneurship research on intuition: A critical analysis and research agenda. International Journal of Management Reviews, 17(2), 212–231.

    Article  Google Scholar 

  • Baldacchino, L., Ucbasaran, D., & Cabantous, L. (2022). Linking experience to intuition and cognitive versatility in new venture ideation: A dual-process perspective. Journal of Management Studies.

    Google Scholar 

  • Blume, B. D., & Covin, J. G. (2011). Attributions to intuition in the venture founding process: Do entrepreneurs actually use intuition or just say that they do? Journal of Business Venturing, 26(1), 137–151.

    Article  Google Scholar 

  • Böhm, G., & Brun, W. (2008). Intuition and affect in risk perception and decision making. Judgment and Decision making, 3(1), 1–4.

    Google Scholar 

  • Brigham, K. H., De Castro, J. O., & Shepherd, D. A. (2007). A person-organization fit model of owner-managers’ cognitive style and organizational demands. Entrepreneurship Theory and Practice, 31(1), 29–51.

    Article  Google Scholar 

  • Browne, M. N., & Keeley, S. M. (2014). Asking the right questions: A guide to critical thinking (11th ed.). Longman.

    Google Scholar 

  • Burke, L. A., & Miller, M. K. (1999). Taking the mystery out of intuitive decision making. Academy of Management Executive, 13(4), 91–99.

    Google Scholar 

  • Cambridge Dictionary. (2021a). Possibility. Cambridge University Press.

    Google Scholar 

  • Cambridge Dictionary. (2021b). Probability. Cambridge University Press.

    Google Scholar 

  • Covin, J. G., Slevin, D. P., & Heeley, M. B. (2001). Strategic decision making in an intuitive vs. technocratic mode: Structural and environmental considerations. Journal of Business Research, 52, 51–67.

    Google Scholar 

  • Crossan, M. M., Lane, H. W., & White, R. E. (1999). An organizational learning framework: From intuition to institution. Academy of Management Review, 24(3), 522–537.

    Article  Google Scholar 

  • Dane, E., & Pratt, M. G. (2007). Exploring intuition and its role in managerial decision making. Academy of Management Review, 32(1), 33–54.

    Article  Google Scholar 

  • Elbanna, S., Child, J., & Braga Rodriguez, S. (2010). Intuition in strategic decision-making: The role of context. In Academy of Management Conference Working Paper.

    Google Scholar 

  • Epstein, S. (2003). Cognitive-experiential self-theory of personality. In T. Millon & M. J. Lerner (Eds.), Handbook of psychology, personality and social psychology (Vol. 5, pp. 159–184). Hoboken: Wiley.

    Google Scholar 

  • Epstein, S. (2010). Demystifying intuition: What it is, what it does, and how it does it. Psychological Inquiry, 21(4), 295–312.

    Article  Google Scholar 

  • Evans, J., & Stanovich, K. (2013). Dual-process theories of higher cognition: Advancing the debate. Perspectives on Psychological Science, 8(3), 223–241.

    Article  PubMed  Google Scholar 

  • Gibcus, P., Vermeulen, P. A., & Radulova, E. (2008). The decision-making entrepreneur: A literature review. In P. A. Vermeulen & P. L. Curşeu (Eds.), Entrepreneurial strategic decision-making: A cognitive perspective. Cheltenham: Edward Elgar Publishing Ltd.

    Google Scholar 

  • Gigerenzer, G. (2008). Why heuristics work. Perspectives on Psychological Science, 3(1), 20–29.

    Article  PubMed  Google Scholar 

  • Glaveanu, V. (2018). The possible as a field of inquiry. Europe’s Journal of Psychology, 14(3), 519–530.

    Article  PubMed  PubMed Central  Google Scholar 

  • Hodgkinson, G. P., & Clarke, I. (2007). Exploring the cognitive significance of organizational strategizing: A dual-process framework and research agenda. Human Relations, 60(1), 243–255.

    Article  Google Scholar 

  • Hodgkinson, G. P., & Sadler-Smith, E. (2018). The dynamics of intuition and analysis in managerial and organizational decision making. Academy of Management Perspectives, 32(4), 473–492.

    Article  Google Scholar 

  • Hodgkinson, G. P., Langan-Fox, J., & Sadler-Smith, E. (2008). Intuition: A fundamental bridging construct in the behavioural sciences. British Journal of Psychology, 99, 1–27.

    Article  PubMed  Google Scholar 

  • Hodgkinson, G. P., Sadler-Smith, E., Sinclair, M., & Ashkanasy, N. M. (2009). More than meets the eye? Intuition and analysis revisited. Personality and Individual Differences, 47, 342–346.

    Article  Google Scholar 

  • Hogarth, R. (2001). Educating intuition. University of Chicago Press.

    Google Scholar 

  • Khatri, N., & Ng, H. A. (2000). The role of intuition in strategic decision making. Human Relations, 53, 57–86.

    Article  Google Scholar 

  • Kickul, J. R., & Gundry, L. K. (2011). Entrepreneurial intuition. In M. Sinclair (Ed.), Handbook of intuition research (pp. 88–96). Northampton: Edward Elgar.

    Google Scholar 

  • Klein, G. (2004). The power of intuition: How to use your gut feelings to make better decisions at work. New York: Currency Doubleday.

    Google Scholar 

  • Noddings, N., & Shore, P. J. (1998). Awakening the inner eye: Intuition in education. New York: Educator’s International Press.

    Google Scholar 

  • Peters, E., Västfjäll, D., Gärling, T., & Slovic, P. (2006). Affect and decision making: A “hot” topic. Journal of Behavioral Decision Making, 19, 79–85.

    Article  Google Scholar 

  • Sadler-Smith, E., & Shefy, E. (2004). The intuitive executive: Understanding and applying ‘gut feel’ in decision-making. Academy of Management Executive, 18(4), 76–91.

    Google Scholar 

  • Simon, H. A. (2000). Bounded rationality in social science: Today and tomorrow. Mind and Society, 1(1), 29–39.

    Article  Google Scholar 

  • Wickham, P. (2006). Strategic entrepreneurship. London: Pearson Education Ltd.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. The Edward de Bono Institute for Creative Thinking and Innovation, University of Malta, Msida, Malta

    Leonie Baldacchino

Authors
  1. Leonie Baldacchino
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Leonie Baldacchino .

Section Editor information

  1. Department of Psychology, London Metropolitan University, Kingston upon Thames, UK

    Wendy Ross

Rights and permissions

Reprints and permissions

Copyright information

© 2022 The Author(s), under exclusive licence to Springer Nature Switzerland AG

About this entry

Check for updates. Verify currency and authenticity via CrossMark

Cite this entry

Baldacchino, L. (2022). Cognitive Versatility. In: The Palgrave Encyclopedia of the Possible. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-98390-5_260-1

Download citation

  • DOI: https://doi.org/10.1007/978-3-319-98390-5_260-1

  • Received:

  • Accepted:

  • Published:

  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-319-98390-5

  • Online ISBN: 978-3-319-98390-5

  • eBook Packages: Springer Reference Behavioral Science and PsychologyReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences

Publish with us

Policies and ethics

Search

Navigation