IDEAS home Printed from https://ideas.repec.org/a/zbw/hkjalm/215720.html
   My bibliography  Save this article

The impact of effectuation on the introduction of innovative products

Author

Listed:
  • Parnica, Bogdan-Mircea

Abstract

This article relates to the general field of strategic management and leadership to which the concept of entrepreneurship belongs. The purpose of this article is to present the results of the research conducted for the analysis of the state of the art in current entrepreneurial actions with focus on effectuation and its influence on the introduction of new innovative products in large companies. Focusing on the entrepreneurial decisions the study was designed to analyze how large companies that generally work in processes, and take only informed decisions, could somehow act more entrepreneurial. Testing of the identified hypothesis was performed by using qualitative research in the interviews. Twelve product managers and development engineers active in a large company and having relevant knowledge and experience formed the sample. The study was able to identify some areas in which entrepreneurial action showed positive outcomes and managed to give a particular insight into modern development processes. The following identified hypothesis was confirmed: an effectuation decision making strategy has increased value for a newly created highly innovative opportunity at the beginning of the product life-cycle management process. The research has identified practical implications for a large company when effectuation strategies are used by product managers in the introduction of innovative products. This is of interest both for product managers when it comes to new opportunities and executive managers that are able to actually practice the innovation and entrepreneurship as defined company values.

Suggested Citation

  • Parnica, Bogdan-Mircea, 2019. "The impact of effectuation on the introduction of innovative products," Journal of Applied Leadership and Management, Hochschule Kempten - University of Applied Sciences, Professional School of Business & Technology, vol. 7, pages 31-49.
  • Handle: RePEc:zbw:hkjalm:215720
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/215720/1/19964-Article.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Steven Chen, 2019. "The Design Imperative," Springer Books, Springer, number 978-3-319-78568-4, June.
    2. Raymond Vernon, 1966. "International Investment and International Trade in the Product Cycle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(2), pages 190-207.
    3. Dew, Nicholas & Read, Stuart & Sarasvathy, Saras D. & Wiltbank, Robert, 2009. "Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices," Journal of Business Venturing, Elsevier, vol. 24(4), pages 287-309, July.
    4. Herbert A. Simon, 1993. "Strategy and organizational evolution," Strategic Management Journal, Wiley Blackwell, vol. 14(S2), pages 131-142, December.
    5. Galambos, Louis, 1988. "What Have CEOs Been Doing?," The Journal of Economic History, Cambridge University Press, vol. 48(2), pages 243-258, June.
    6. Thomke, Stefan H., 1997. "The role of flexibility in the development of new products: An empirical study," Research Policy, Elsevier, vol. 26(1), pages 105-119, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Desjardins, Christoph, 2021. "Don't be too SMART, but SAVE your goals: Proposal for a renewed goal-setting formula for Generation Y," Journal of Applied Leadership and Management, Hochschule Kempten - University of Applied Sciences, Professional School of Business & Technology, vol. 9, pages 73-87.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kusi, Samuel Yaw & Gabrielsson, Peter & Baumgarth, Carsten, 2022. "How classical and entrepreneurial brand management increases the performance of internationalising SMEs?," Journal of World Business, Elsevier, vol. 57(5).
    2. Fernandes, Glaucia & Perobelli, Fernanda Finotti Cordeiro & Brandão, Luiz Eduardo T., 2016. "A model for valuing new technologies under a pull incentives environment," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 482-493.
    3. Chen, Hung-Ju, 2019. "Innovation and FDI: Does the Target of Intellectual Property Rights Matter?," MPRA Paper 94692, University Library of Munich, Germany.
    4. Iamsiraroj, Sasi, 2016. "The foreign direct investment–economic growth nexus," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 116-133.
    5. Jan Fagerberg & Martin Srholec, 2017. "Global Dynamics, Capabilities and the Crisis," Economic Complexity and Evolution, in: Andreas Pyka & Uwe Cantner (ed.), Foundations of Economic Change, pages 83-106, Springer.
    6. Jani Bekő, 2003. "Causality between exports and economic growth: empirical estimates for slovenia," Prague Economic Papers, Prague University of Economics and Business, vol. 2003(2), pages 169-186.
    7. Morris, Sebastian, 2007. "Agriculture: A Perspective from History, the Metrics of Comparative Advantage, and Limitations of the Market to Understand the Role of State in a Globalising World," IIMA Working Papers WP2007-02-02, Indian Institute of Management Ahmedabad, Research and Publication Department.
    8. Robert Z. Lawrence & Lawrence Edward, 2010. "Do Developed and Developing Countries Compete Head to Head in High Tech?," Working Paper Series WP10-8, Peterson Institute for International Economics.
    9. R. B. Radin Firdaus & Osman Mohamad & Taufik Mohammad & Mahinda Senevi Gunaratne, 2020. "Community Partnership Through Knowledge Transfer Program: Assessment From the Perspectives of Academics’ Experience," SAGE Open, , vol. 10(4), pages 21582440209, December.
    10. Nagesh Kumar, 1998. "Multinational enterprises, regional economic integration, and export-platform production in the host countries: An empirical analysis for the US and Japanese corporations," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 134(3), pages 450-483, September.
    11. Kox, Henk L.M. & Leeuwen, George van & Wiel, Henry van der, 2010. "Competitive, but too small - productivity and entry-exit determinants in European business services," MPRA Paper 24389, University Library of Munich, Germany.
    12. Yuichi Furukawa & Taro Akiyama, 2006. "Innovation, standardization, and imitation in the product cycle model," Economics Bulletin, AccessEcon, vol. 6(13), pages 1-10.
    13. Martin Henning & Hans Westlund & Kerstin Enflo, 2023. "Urban–rural population changes and spatial inequalities in Sweden," Regional Science Policy & Practice, Wiley Blackwell, vol. 15(4), pages 878-892, May.
    14. Fortunato Michael W-P & Alter Theodore R, 2011. "The Individual-Institutional-Opportunity Nexus: An Integrated Framework for Analyzing Entrepreneurship Development," Entrepreneurship Research Journal, De Gruyter, vol. 1(1), pages 1-36, January.
    15. Leonidas A. Zampetakis & Manolis Lerakis & Konstantinos Kafetsios & Vassilis S. Moustakis, 2016. "The moderating role of anticipated affective ambivalence in the formation of entrepreneurial intentions," International Entrepreneurship and Management Journal, Springer, vol. 12(3), pages 815-838, September.
    16. Richard Harris & John Moffat, 2011. "R&D, Innovation and Exporting," SERC Discussion Papers 0073, Centre for Economic Performance, LSE.
    17. Matthias Firgo & Peter Mayerhofer, 2015. "Wissens-Spillovers und regionale Entwicklung - welche strukturpolitische Ausrichtung optimiert des Wachstum?," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 144, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    18. Glen Dowell & Brad Killaly, 2009. "Effect of Resource Variation and Firm Experience on Market Entry Decisions: Evidence from U.S. Telecommunication Firms' International Expansion Decisions," Organization Science, INFORMS, vol. 20(1), pages 69-84, February.
    19. Westhead, Paul & Wright, Mike & Ucbasaran, Deniz, 2001. "The internationalization of new and small firms: A resource-based view," Journal of Business Venturing, Elsevier, vol. 16(4), pages 333-358, July.
    20. Tavassoli, Sam, 2015. "Innovation determinants over industry life cycle," Technological Forecasting and Social Change, Elsevier, vol. 91(C), pages 18-32.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:hkjalm:215720. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: http://www.journal-alm.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.