A Study On Decision Logics In The Process Of New Venture Business Model Constrution

It is a key task to explore and build a feasible business model in the process of starting a new enterprise.The construction of new enterprise business model is the result of a series of major decisions made by entrepreneurs,and different decision logics(effectuation vs causation)will be involved in the construction process.However,there is a debate on which decision logic can be adopted to build viable business model more effectively.Therefore,it is of great significance to clarify the dynamic changes of decision logic in the process of building new enterprise business model.This research with three new enterprises as the research object,using multiple case study design,to produce major decisions in the process of the formation of new enterprise events and actions as a starting point for exploratory research,based on the evolution of the new enterprise business model elements at the same time,the analysis of the business model to form with the difference of decision logic in different periods and provide explanations,and explore new business model for the enterprise to set up a decision logic in the process of dynamic change.The results show that: first,in the process of new enterprise business model construction,effectuation and causation have the dominant influence on the value proposition dimension and the activity system dimension of the business model respectively.Second,specific decision situation conditions trigger specific decision logic and therefore drive the transformation of decision logic.These findings construct the theoretical logic of “decision context-decision logic-construction behavior of different dimensions of business model”,reveal the mechanism of the two kinds of decision logics playing a role in the construction process of new enterprise business model,and provide new insights for the understanding of decision logic and the construction of new enterprise business model.This paper enriches the understanding of how entrepreneurs make decisions to build a business model with more potential for value creation,and provides new ideas for the study of new enterprise entrepreneurship and initial growth.