Journal
INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP
Volume 33, Issue 8, Pages 799-823Publisher
SAGE PUBLICATIONS LTD
DOI: 10.1177/0266242614534281
Keywords
effectuation; home-based; online-entrepreneur; theory-refinement
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This article explores effectual processes within home-based, online businesses. Our empirical evidence provides a number of refinements to the concept of effectuation in this specific domain. First, the ubiquity of non-proprietary online trading platforms encourages the adoption of effectual approaches and removes the importance of forming proprietary strategic alliances and pre-commitments. Second, the notion of affordable loss - a central tenet of effectuation - should be extended beyond the notion of economic to social affordable loss, including loss of status and reputation, and finally, home-based online businesses allow effectuation to be associated with low levels of entrepreneurial self-efficacy and experience.
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