Winter, 2002 167 Research has identified crucial antecedents of corporate entrepreneurship. Research has also identified crucial antecedents of entrepreneurial thinking. This article uses lessons from social cognition to explicitly link these two issues. We adapt an intentions-based model of how to promote entrepreneurial thinking from its original domain of individual entrepre- neurship and translate that model to the domain of corporate entrepreneurship. From our intentions-based model of the social cognition of entrepreneurial teams, we emphasize the importance of perceptions of desirability and feasibility and that these perceptions are from the team as well as the individual perspective. This leads to three propositions about entre- preneurial teams and an outline of the opportunities for future research. INTRODUCTION In a rapidly changing world, organizations need to continually identify new oppor- tunities beyond existing competencies (Hamel & Prahalad, 1989; Mintzberg, 1994) if they are to survive. Therefore, organizations adopt what Covin and Slevin (1991) describe as an “entrepreneurial orientation,” i.e., an orientation toward seeing (and acting on) opportunities regardless of existing resources (Stevenson & Jarillo, 1990). The resulting innovations provide a basis for economic profit (McGrath et al., 1996). Not surprisingly, corporate entrepreneurship scholars have tried to increase our understanding of what makes a firm entrepreneurial by investigating the corporate environment and its impact on corporate venturing. However, there has not yet been a theory-driven model that explicitly links our understanding of entrepreneurial thinking in this context. While corporate entrepreneurship scholars have made a substantial contribution to our understanding of the corporate environmental factors that encourage an individual to be entrepreneurial, few studies have investigated the corporate environmental factors that encourage teams to be entrepreneurial. This is surprising for a number of reasons. First, recent research has concluded that teams are central to our understanding of what makes an organization entrepreneurial (e.g., Senge, 1990; Brown & Eisenhardt, 1995; Anderson & West, 1998). A team that is entrepreneurial is one that is focused on P T E & An Intentions-Based Model of Entrepreneurial Teams’ Social Cognition* Dean A. Shepherd Norris F. Krueger 1042-2587-01-262 Copyright 2002 by Baylor University Please send all correspondence to: Dean A. Shepherd, Leeds School of Business, University of Colorado, Boulder, CO 82309-0419. email: Dean.Shepherd@Colorado.edu