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Drawing on regulatory focus theory (Higgins 1997), I propose a model of firm’s environmental scanning behavior. Specifically, I explore a firm’s environmental scanning behavior as a function of the motivational mindset of the firm’s top management team. Prior research has shown that diversity of the TMT’s composition has an impact on the firm’s strategic behavior. I take this premise further to suggest that: 1) a TMT’s cognitive diversity is likely to differ in the collective mindset in their degree of promotion- or prevention-focus; 2) this differential mindset is likely to mediate the processing style of the environment, and subsequently differentially drive the firm’s strategic choice.