UNIVERSIDADE FEDERAL DO RIO DE JANEIRO INSTITUTO COPPEAD DE ADMINISTRAÇÃO. Robert Skorupski

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1 UNIVERSIDADE FEDERAL DO RIO DE JANEIRO INSTITUTO COPPEAD DE ADMINISTRAÇÃO Robert Skorupski Do entrepreneurs from different countries apply distinct decision logics when internationalizing a company? Case analysis Rio de Janeiro 2018

2 Robert Skorupski Do entrepreneurs from different countries apply distinct decision logics when internationalizing a company? Case analysis Dissertation for a Master Degree presented at Instituto COPPEAD de Administração, da Universidade Federal do Rio de Janeiro, as part of the deliverable necessary to obtain the title Master in Business Administration. Supervisor: Prof. Renato Dourado Cotta de Mello Rio de Janeiro 2018

3 CIP - Catalogação na Publicação S628e Skorupski, Robert Do entrepreneurs from different countries apply distinct decision logics when internationalizing a company? Case analysis / Robert Skorupski. -- Rio de Janeiro, f. Orientadora: Renato Dourado Cotta de Mello. Coorientadora: Clarice Secches Kogut. Tese (doutorado) - Universidade Federal do Rio de Janeiro, Instituto COPPEAD de Administração, Programa de Pós-Graduação em Administração, Internacionalização-empresas. 2. Tomada de decisão. 3. Empresários. 4. Administração - Teses. I. Dourado Cotta de Mello, Renato, orient. II. Secches Kogut, Clarice, coorient. III. Título. Elaborado pelo Sistema de Geração Automática da UFRJ com os dados fornecidos pelo(a) autor(a).

4 IV Robert Skorupski Do entrepreneurs from different countries apply distinct decision logics when internationalizing a company? Case analysis Dissertation for a Master Degree presented at Instituto COPPEAD de Administração, da Universidade Federal do Rio de Janeiro, as part of the deliverable necessary to obtain the title Master in Business Administration. Supervisor: Prof. Renato Dourado Cotta de Mello Approved through: Prof. Renato Dourado Cotta de Mello Coppead/UFRJ Prof. Luís Antônio da Rocha Dib Coppead/UFRJ Prof. Angela Maria Cavalcanti da Rocha IAG/ PUC Rio de Janeiro 2018

5 Acknowledgement To my family, my girlfriend and my friends for their continuous and unconditional love, affection as well as strong support, while I was living and studying in Brazil, far away from them and from my actual home. To PhD candidate Clarice Secches Kogut, who was extensively supporting and assisting me during the entire process of developing and writing the dissertation. To Prof. Renato Dourado Cotta de Mello, who was effectively supervising and supporting me during the entire process of developing and writing the dissertation. To my classmates for inspiring me by sharing their experience through extensive conversations, but most of all, for the great friendships evolving from our joint MBA experience. To Prof. Angela Maria Cavalcanti da Rocha and Prof. Luís Antônio da Rocha Dib for their constructive feedback on how to further improve the quality of this dissertation. To Rio, by far the most beautiful city in the world, and its awesome Cariocas, who welcomed me warmly, making me feel as if I had never left home. To all Brazilians and its educational system, providing me with a great opportunity growing as a person and as a professional. I hope one day I will be able to give back what you gave me in such an unconditional and beautiful manner! Thank you!

6 List of figures Figure 1. UE Model... Error! Bookmark not defined. Figure 2. Effectuation theory... Error! Bookmark not defined. Figure 3. Internationalizing firm types... Error! Bookmark not defined. Figure 4. Causal and effectual decision logic during the growth process of the analyzed companies... Error! Bookmark not defined. Figure 5. Causation and Effectuation distribution... Error! Bookmark not defined. Figure 6. UE Model... Error! Bookmark not defined. Figure 7. Effectuation theory... Error! Bookmark not defined. Figure 8. Mobile app Forecast Annual Gross revenue... Error! Bookmark not defined.

7 VII List of tables Table 1. Search results of systematic literature review... Error! Bookmark not defined. Table 2. Differences between causal and effectual logics... Error! Bookmark not defined. Table 3. Decision mechanisms explaining business model and tactics... Error! Bookmark not defined. Table 4. Summary of analyzed case studies... Error! Bookmark not defined. Table 5. Differences between causal and effectual logics... Error! Bookmark not defined. Table 6. Summary of analyzed case studies... Error! Bookmark not defined. Table 7. Decision logic similarities found in both cases, BRA and GER... Error! Bookmark not defined.

8 Table of Contents Introduction to the dissertation... 9 Resumo First Article Under which circumstances firms should combine effectuation with causation? A systematic literature review Abstract Introduction... Error! Bookmark not defined. 2. Method... Error! Bookmark not defined. 3. Theoretical background... Error! Bookmark not defined. 4. Revision of findings... Error! Bookmark not defined. 5. Conclusion... Error! Bookmark not defined. References... Error! Bookmark not defined. Second Article... Error! Bookmark not defined. Do entrepreneurs from institutionally distinct countries apply different decision logics when internationalizing their companies? Two case analysis... Error! Bookmark not defined. Abstract... Error! Bookmark not defined. 1. Introduction... Error! Bookmark not defined. 2. Theoretical background... Error! Bookmark not defined. 3. Method... Error! Bookmark not defined. 4. Case selection... Error! Bookmark not defined. 5. Brazilian company BRA... Error! Bookmark not defined. 6. German company GER... Error! Bookmark not defined. 7. Analysis... Error! Bookmark not defined. 8. Conclusion... Error! Bookmark not defined. References... Error! Bookmark not defined. Appendix... Error! Bookmark not defined. A Interview questionnaire in English... Error! Bookmark not defined. B Interview questionnaire in Portuguese... Error! Bookmark not defined.

9 9 Introduction to the dissertation This dissertation consists of two related and consecutively arranged articles, a Portuguese abstract (Resumo) following this introduction, as well as an appendix, which provides additional disclosure on the second article s interview questionnaires in English and Portuguese. This work does not reveal the interview transcripts because confidentiality agreements with both company representatives had been made. The first article is a systematic literature review, intending to answer the question stated it its title Under which circumstances firms should combine effectuation with causation? A systematic literature review. Since most international business literature investigating decision making logics assigns case study results to either causation or effectuation, whereas the reality combines both, the first article reviews recent literature to determine when a combination of both logics appears beneficial. The systematic review takes a 16- year period of most recent top-tier journals into account and subsequently suggests areas for further investigation. The results illustrate that although effectuation is usually applied earlier and causation later throughout the process, the decision maker should always consider both logics. The second article, deriving from the previous literature review, is a case analysis, with the title Do entrepreneurs from institutionally distinct countries apply different decision logics when internationalizing their companies? Two case analysis. Although there is theory about the decision logics applied by entrepreneurs, who tried internationalizing their companies, there was no study found that compares decision makers, who internationalized their ventures while starting up in different institutional environments. Hence, this paper illustrates such an exploratory comparative research, based on the comparison of two case studies of one German and one Brazilian software company. The results indicate that the context of a business environment affects the entrepreneurs decision logics stronger than does the institutional environment. Because during both internationalization processes predominantly effectual decision logic was observed, and the early business stages of both firms might have accounted for this, future research should investigate, whether a drift towards causation happens as both ventures mature.

10 10 Resumo Grande parte da literatura existente em internacionalização de empresas analisa a lógica de decisão dos empresários, predominantemente classificada como Effectuation ou Causation, durante uma nova penetração no mercado. No entanto, na vida real, vários gerentes aplicam ambas as lógicas em combinação ou em sequência. Assim, o primeiro artigo compila e analisa a literatura recente, incluindo uma classificação de estudos de caso, para esclarecer as circunstâncias que recomendariam o uso do Effectuation em conjunto com Causation. Os resultados indicam que, na maioria das decisões reais de negócios, onde ambas as lógicas estão sendo combinadas de alguma maneira, Effectuation foi tipicamente identificada em fase anterior, enquanto que Causation ocorreu com mais freqüência ao final do processo. Mas, em qualquer caso, a literatura sugere que, pelo menos, deva-se considerar ambas as lógicas de decisão. Com base nessa revisão sistemática de literatura, foi possível notar tambem uma falta de estudos comparando e analisando as decisões de fundadores que iniciam seus negócios em diferentes ambientes institucionais. Assim, o segundo artigo apresenta uma pesquisa exploratória comparativa, examinando e comparando os comportamentos, crenças e decisões dos empresários, todos fatores típicos para entradas em mercados novos, considerando diferenças institucionais de seus ambientes de atuação. A pesquisa baseia-se na comparação de dois estudos de casos, ambos de jovens empresas de software, uma do Brasil e outra da Alemanha, cada uma fundada por dois empreendedores com origens acadêmicas e profissionais similares. Os resultados indicam que, aparentemente, o contexto do ambiente de negócios afeta as lógicas de decisão dos fundadores muito mais do que o ambiente institucional, porque durante ambos os processos de internacionalização a lógica de decisão Effectuation foi predominante. No entanto, o caráter emergente de ambos os negócios com um e dois anos em operação pode ter afetado as lógicas de decisão dos executivos, inclinando-os para uma lógica mais effectual. Portanto, outros estudos são sugeridos como pesquisas futuras para investigar se um modo mais causal de pensamento acontece quando ambos os empreendimentos amadurecem, como sugerido por alguns autores.

11 11 Palavras-chave: Lógica causal, Distância institucional, Lógica Effectual, Internacionalização, Lógica de decisão

12 12 First Article Under which circumstances firms should combine effectuation with causation? A systematic literature review Abstract Most literature investigating decision-making logics in International Business has focused on assigning case study results of scrutinized firms to either causation or effectuation. However, in real life, various managers apply both logics in combination or in an alternating sequence. Hence, this review analyzes the recent literature, including a classification of case studies, to shed light on the circumstances that would recommend the use of both effectual logic with causal logic. The analysis consists of a thorough systematic review, where a 16-year period of most recent top-tier journals is covered. The paper proceeds with suggestions for literature areas that could be analyzed and identifies connections between causation and effectuation in the context of venture internationalization. Consequently, the obtained results indicate that in most real business decisions, where both logics are being combined, the effectual logic typically was identified earlier, whereas causal decision-making occurred more often later throughout the process. But, under any circumstances literature suggests one should at least consider both decision logics, although at each point in time one typically will outweigh the other. Keywords: Causation, Effectuation, Internationalization

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