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Introduction
As interest in entrepreneurship has intensified, so new theoretical perspectives have emerged to explain the entrepreneurial behavior (Leitch et al., 2010; Fisher, 2012). Alternative theoretical perspectives on entrepreneurial action, such as effectuation (Sarasvathy, 2001), entrepreneurial bricolage (Baker and Nelson, 2005), and improvisation (Weick, 1979) suggest that entrepreneurs take various routes to identifying and exploiting opportunities. Effectuation is one of the most-cited emerging theories of entrepreneurship (Fisher, 2012; Perry et al., 2012). However, it has been criticized on the grounds of its slow development progress and the unsatisfactory level of testability associated with it (Arend et al., 2015; Fischer and Reuber, 2011). Scholars evaluating effectuation theory output from 1998 to 2011 would probably find that criticism at least partly justifiable. Perry et al. (2012) however contend that the development of effectuation theory was not noticeably slower than other comparable emerging theories in the field of management. Certainly, over the last five years, 2012-2016, it seems to have developed remarkably quickly.
The main contribution of this study is to introduce four main streams linked to effectuation theory in the current scientific dialogue: innovation and product development internationalization, effectuation and causation simultaneously, and entrepreneurial expertise. A second contribution arises from presenting evidence that effectuation research has moved on from the nascent to the intermediate stage of development. Furthermore, the results indicate that it has already begun its transition toward the mature stage of development. Third, this study illustrates why effectuation theory should no longer be associated only with new ventures and startups. The majority of recent studies have presented the results of effectuation logic in the context of established companies. Fourth, as a secondary contribution, this study reveals the ongoing and spirited battle between the convergent and divergent groups involved in the scientific debate around effectuation theory.
Perry et al. (2012) evaluated the empirical and field research supporting the conceptual articles on the topic (Edmondson and McManus, 2007), and determined the effectuation theory to be at the nascent stage of development, and transitioning toward the intermediate stage. Perry et al. (2012) found 29 articles published between 1998 and 2011 with effectuation as the main topic, only six of which were empirical studies. Their primary explanation for the lack of empirical studies was that...