Claus Schreier , Nuntana Udomkit , Julia Frommelt , Markus Zemp
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引用次数: 0
Abstract
This paper aims to analyze (1) the entrepreneurial approaches of decision-makers in SMEs, specifically exploring whether they apply principles of causation or effectuation when establishing new business ventures, and (2) it delves into contextual studies to explore the influence of national cultural values on decision-making approaches in SMEs regarding whether Thai and Swiss entrepreneurs apply the principles of causation or effectuation in establishing new business ventures differently. Specifically, it investigates whether entrepreneurs from Thailand and Switzerland, two countries with significant cultural differences according to Hofstede's cultural value dimensions (Hofstede, 1998; 2011), exhibit variations in their approaches and the underlying principles they utilize in the venture creation process.
Forty-six in-depth interviews were conducted. The findings reveal that entrepreneurs from both countries tend to blend elements of effectual and causal reasoning when establishing their ventures. They focus on leveraging available resources to evaluate potential business opportunities, establish valuable partnerships and collaborations, and emphasize the importance of social networks, particularly with family and friends.
The findings indicate that the national cultural context influences entrepreneurs’ preferences on causal and/or effectual reasoning applied to launching and growing new ventures. Thai entrepreneurs exhibited a stronger orientation toward achieving financial results, embracing unexpected opportunities while being open to risks, and placing a greater emphasis on maximizing anticipated returns on investment. In contrast, Swiss entrepreneurs considered the concept of affordable losses as an integral part of their decision-making process.
期刊介绍:
Asia Pacific Management Review (APMR), peer-reviewed and published quarterly, pursues to publish original and high quality research articles and notes that contribute to build empirical and theoretical understanding for concerning strategy and management aspects in business and activities. Meanwhile, we also seek to publish short communications and opinions addressing issues of current concern to managers in regards to within and between the Asia-Pacific region. The covered domains but not limited to, such as accounting, finance, marketing, decision analysis and operation management, human resource management, information management, international business management, logistic and supply chain management, quantitative and research methods, strategic and business management, and tourism management, are suitable for publication in the APMR.