Abstract

This study employs Hindle’s (2010) harmonizing model of entrepreneurial process as the theoretical framework underpinning an investigation of the possibility of resolving an important controversy concerning the nature of the logical systems of decision-making and the patterned modes of behavior employed by entrepreneurs in the early-stages of the entrepreneurial process. Three arguments – causation, effectuation and bricolage - are at loggerheads and currently seem to be mutually contradictory.

These three approaches, entailing distinctive logical and behavioral characteristics are, in a sense, contenders for the title of ‘best’ conceptual framework for explaining the process of early stage new venturing. No prior research explores whether, how and why the three contending approaches might be compatible rather than conflicting. Could it be that causation, effectuation and bricolage are not confrontational ‘contenders’ but harmoniously classifiable as different forms of new venture evaluation that entrepreneurs use, in varying proportions, dependent upon the nature of the venture itself and its principal defining circumstances?

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