Effectuation, an emerging theory of entrepreneurship – towards a mature stage of the development
Journal of Small Business and Enterprise Development
ISSN: 1462-6004
Article publication date: 31 July 2017
Issue publication date: 30 October 2017
Abstract
Purpose
The purpose of this paper is to address the stages of development of effectuation theory and highlight the progression from the early years’ conceptual articles to the recent empirical papers, characterized by specific, measurable research questions.
Design/methodology/approach
In total, 81 peer-reviewed academic journal articles featuring effectuation as a main subject were analyzed using Scandura and Williams’ (2000) modified version of McGrath’s typology of research strategies. The framework of Edmonson and McManus (2007) is employed to evaluate the maturity of the research program.
Findings
The main outcome is to introduce four main streams linked to effectuation theory in the current scientific dialogue: innovation and product development, internationalization, effectuation and causation simultaneously, and entrepreneurial expertise.
Research limitations/implications
The current study is reliant on retrospective data, which might influence the accuracy and completeness of this study, which typically leads to rationalized versions of history-associated causal decision making.
Practical implications
This study illustrates why effectuation theory should no longer be associated only with new ventures and startups. The majority of recent studies have presented the results of effectuation logic in the context of established companies.
Social implications
This follow-up review presents evidence that effectuation research has moved on from the nascent to the intermediate stage of development. Furthermore, the results indicate that it has already begun its transition toward the mature stage of development.
Originality/value
This study reveals the ongoing spirited battle between the convergent and divergent groups involved in the scientific debate around effectuation theory.
Keywords
Citation
Matalamäki, M.J. (2017), "Effectuation, an emerging theory of entrepreneurship – towards a mature stage of the development", Journal of Small Business and Enterprise Development, Vol. 24 No. 4, pp. 928-949. https://doi.org/10.1108/JSBED-02-2017-0030
Publisher
:Emerald Publishing Limited
Copyright © 2017, Emerald Publishing Limited