Confronting the classical view of entrepreneurial action: the effectuation logic as a way to cope with uncertainty
DOI:
https://doi.org/10.5585/exactaep.v18n2.8738Keywords:
Effectuation, Causation, Entrepreneurship, Entrepreneurial action, Uncertainty.Abstract
Effectuation is one of the most cited theories on entrepreneurship research. However, several authors have called for empirical studies in order to validate this approach. In order to address this gap, we analyzed the entrepreneurial action in the processes of identification, evaluation and exploration of the business opportunity of a startup based on the concepts of effectuation. A case study was conducted using interviews, direct observation and documental analysis. We found strong evidence of the alignment between the founder’s entrepreneurial action and the pillars of effectuation (affordable loss, strategic alliances, exploitation of contingencies, and control of an unpredictable future). As implications for the literature, this article contributes to the research on effectuation by providing an empirical case that contributes to the validation of this approach. As a practical implication, it allows the actors of the innovation ecosystem to better understand the entrepreneurs’ actions in coping with uncertainties.
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