1. What is your tolerance for ambiguity?

2. Objectives
Examine tolerance for ambiguity in the context of entrepreneurial mindset
Explore the impact of tolerance for ambiguity on success as an entrepreneur
Assess your personal tolerance for ambiguity

3. Entrepreneurial motivation
For entrepreneurial strategic decision-making, three factors are emphasized:
Entrepreneurial Motivation
Self-efficacy
Cognitive motivation
Tolerance for ambiguity

4. Defining tolerance for ambiguity
“the tendency to perceive ambiguous situations as acceptable (or desirable) rather than threatening”

5. Need for tolerance for ambiguity
Necessary factor for entrepreneurs based on the dynamic nature of markets and competition
Asset for entrepreneurs to make complex decisions
quickly and with
limited information

8. In February 2008, Starbucks closed 7,100 U. S
In February 2008, Starbucks closed 7,100 U.S. stores for 3 1/2 hours to retrain its baristas
Starbucks rolled out a new design for all of its stores
Starbucks overhauled the entertainment division, scaling back on all the CDs and books that had started to overpower the stores
For the first time ever, Starbucks invested in a major national advertising campaign
Schultz decided to continue offering health insurance to his employees, in order to stay aligned with the company's guiding principles

11. Insights from the evaluation
Assist you in measuring your comfort with
uncertainty,
change, and
unfamiliar situations.
These are common characteristics of the situations and decisions that entrepreneurs face in the launch and growth of their ventures.

12. Improving tolerance for ambiguity
Do new things
Go beyond your comfort zone
Talk with fellow aspiring and active entrepreneurs
Understand that you are not alone in the new challenges that you are facing, and the emotions therein

13. Summary
Tolerance for ambiguity, and even a preference for ambiguity, is an asset
Entrepreneurs make complex decisions quickly and with limited information
Uncertainty, change, and unfamiliar situations are common in new venturing
Trying new things and share with fellow entrepreneurs