A Study On The Influencing Mechanism Of Entrepreneur's Upward Counterfactual Thinking On Business Model Adjustment

Faced with the high uncertainty and fuzziness of the entrepreneurial environent,many new enterprises can survive and achieve rapid growth through business model adjustment.The existing literature shows that the business model adjustment of the new enterprise is a learning process and driven by cognitive antecedents.As an important way of thinking,upward counterfactual thinking can help entrepreneurs deconstruct the past and understand the present and identify new opportunities.Therefore,Based on the theory of entrepreneurial cognition,it is of great significance to explore the mechanism of entrepreneurs' thinking on the contrary to facts to influence the adjustment of business model of new enterprises.In this context,this paper firstly integrates the theories of business model adjustment,counterfactual thinking,entrepreneurial learning and entrepreneurial self-efficacy on the basis of systematically reviewing the existing research at home and abroad,and furtherly constructs the research models of upward counterfactual thinking thinking as antecedent variable,entrepreneurial learning as intervening variable,entrepreneurial self-efficacy as regulatory variable and business model adjustment as outcome variable.Next,taking the entrepreneurs of the new enterprise as the respondents,294 valid questionnaires were collected by questionnaire survey method,and the descriptive statistical analysis,homologous variance test,reliability and validity analysis,correlation analysis and regression analysis were carried out by analysis tools,such as SPSS23.0 and AMOS24.0.The research results show that: upward counterfactual thinking is positively correlated with business model adjustment;upward counterfactual thinking is positively correlated with exploratory entrepreneurship learning and exploitative entrepreneurial learning;dual entrepreneurial learning are positively correlated with business model adjustment;dual entrepreneurial learning plays a partial mediating role in the upward counterfactual thinking influencing business model adjustment;entrepreneurial self-efficacy plays a positive role in the relationship between upward counterfactual thinking and business model adjustment and dual entrepreneurial learning.This paper expands the influence mechanism of counterfactual thinking on entrepreneurial behavior and enriches the research on business model adjustment from the perspective of cognition.In addition,the management enlightenment that this article brings to entrepreneur includes: paying attention to the important value of upwardcounterfactual thinking to the adjustment of business model;paying attention to the reasonable choice of entrepreneurial learning and learning style;and paying attention to improving the sense of self-efficacy of entrepreneurship.