From Projects to Services: An Effectual Approach in a Norwegian Startup
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Focus: This thesis looks at an ICT consultancy considering a transition to a product company and what process is involved in identifying opportunities and evaluating business models. The process is compared to an ideal effectual process. Method: Theory from opportunity recognition and business models is synthesised to structure a case study. The study is conducted as events unfold to answer Dimov’s (2011) concern that phenomena are difficult to understand when studied in retrospect. Findings: The case company does not accept committing stakeholders to a degree recommended by effectual logic. Conclusion: By comparing the actions of the case company with the effectual process the thesis question an underlying principle of effectual logic and relate it to criticism on effectuation from Moroz and Hindle (2011). Better aligning effectuation with theory on nearly decomposable systems might address the issue.