Do All Roads Lead to Rome? The Effect of the Decision-Making Logic on Business Model Change

Lasse Torkkeli (), Hanna Salojärvi (), Liisa-Maija Sainio () and Sami Saarenketo ()
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Lasse Torkkeli: Lappeenranta University of Technology, School of Business and Management
Hanna Salojärvi: Lappeenranta University of Technology, School of Business and Management
Liisa-Maija Sainio: Lappeenranta University of Technology, School of Business and Management
Sami Saarenketo: Lappeenranta University of Technology, School of Business and Management

Journal of Entrepreneurship, Management and Innovation, 2015, vol. 11, issue 3, 5-24

Abstract: Business models and business model change have drawn increasing attention from both researchers and practitioners across various disciplines, including the domain of entrepreneurship. However, even though the importance of business model innovation as a driver of firm performance has been widely acknowledged, empirical studies explaining the business model change remain limited. This study contributes to prior research by examining the effects of effectual and causation-based decision-making logics on the degree of business model change in the context of small and medium-sized enterprises in Finland. The findings of hierarchical regression analysis show that both causation and effectuation-based logics have positive effects on business model change, thereby highlighting the need for both strategizing and seizing of opportunities in business model development.

Keywords: business model; decision-making; effectuation; causation; small and medium enterprises (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aae:journl:v:11:y:2015:i:3:p:5-24

DOI: 10.7341/20151131

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