Effectuation logic:

A systematyzed literature review on entrepreneurs decision making process 2001-2016

Resumo

Sarasvathy's theory of effectuation identifies a logic of thinking used by expert entrepreneurs to build a successful venture. The purpose of this paper is to see how research about the effectuation logic (=EL) on the entrepreneurs decision-making process has evolved since Sarasvathy´s paper in 2001 and help move effectuation research forward. Through a systematized literature review based on the research papers compiled by The Society for Effectual Action at the University of Virginia, we analyze 100 papers published by the Journal of Business Venturing. This study helps clarify such logic within the academic area, contributes to the Entrepreneurship Education, besides being important to individuals who are thinking on starting a new venture. Considering its limitations, since this research only considers articles published on the JBV, we cannot generalize its findings.  Besides, this paper contributes with an innovative integrated view of the EL where the micro, meso and macro dimensions are shown in relation to the time perspective, since researches made until now have been considered too much fragmented. Based on this review, we identify gaps in literature and suggest topics for future studies.