Understanding dynamics of strategic decision-making in venture creation: a process study of effectuation and causation

I.M.M.J. Reymen, P. Andries, J.J. Berends, R. Mauer, U. Stephan, J.C. van Burg

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Abstract

This study draws upon effectuation and causation as examples of planning-based and flexible decision-making logics and investigates dynamics in the use of both logics. The study applies a longitudinal process research approach to investigate strategic decision making in new venture creation over time. Combining qualitative and quantitative methods, we analyze 385 decision events across nine technology-based ventures. Our observations suggest a hybrid perspective on strategic decision making, demonstrating how effectuation and causation logics are combined and how entrepreneurs' emphasis on these logics shifts and re-shifts over time. We induce a dynamic model that extends the literature on strategic decision making in venture creation. Copyright © 2015 Strategic Management Society.
Original languageEnglish
Pages (from-to)351-379
JournalStrategic Entrepreneurship Journal
Volume9
Issue number4
Early online date3 Jul 2015
DOIs
Publication statusPublished - 2015

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