Opening the Black Box of Effectuation Processes: Characteristics and Dominant Types

Abstract

In this paper, we open the black box of effectuation as a process by identifying effectuation process characteristics and patterns and thereby unveiling the heterogeneity of effectuation processes. Based on a multiple case research approach, sequential qualitative analysis is used to contrast similarities and differences in effectuation processes among six high-technology ventures. By theorizing the relationship between effectuation principles and process characteristics, we increase the conceptual clarity of effectuation theory and provide insights into how effectuation may be operationalized for scholars in future research.

Keywords

effectuation theory heterogeneous effectuation episodes process study new venture creation process

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