University of Oulu

Yueqiang Xu, Timo Koivumäki, Digital business model effectuation: An agile approach, Computers in Human Behavior, Volume 95, 2019, Pages 307-314, ISSN 0747-5632,

Digital business model effectuation : an agile approach

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Author: Xu, Yueqiang1; Koivumäki, Timo1,2
Organizations: 1Martti Ahtisaari Institute, Oulu Business School, University of Oulu, Pentti Kaiteran katu 1, P.O. Box 4600, FI-90014, Oulu, Finland
2VTT Technical Research Centre of Finland, Kaitoväylä 1, P.O. Box 1100, Oulu, Finland
Format: article
Version: accepted version
Access: open
Online Access: PDF Full Text (PDF, 0.9 MB)
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Language: English
Published: Elsevier, 2019
Publish Date: 2020-10-13


The radical changes in today’s competitive environment created a “big bang” effect: companies and industries are being disrupted in an unprecedented short time. The challenge has shifted from predicting the unknown or conventional method of venture creation to agile actions, which is to act rapidly before the competition catches up and eliminate any advantage one may have, especially for entrepreneurs and small businesses with significant resource constraints. The objective of this research is to investigate alternative approaches under a time-constrained setting. A recent national open innovation initiative of Finland challenged practitioners and researchers to transform technologies into commercializable innovations in under six months. A high-tech case within the challenge piloted the agile effectuation of a business model with three parallel approaches: effectuation, causation and lean startup method, thus providing antecedent on how effectuation theory can be integrated with agile development and business model theory.

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Series: Computers in human behavior
ISSN: 0747-5632
ISSN-E: 0747-5632
ISSN-L: 0747-5632
Volume: 95
Pages: 307 - 314
DOI: 10.1016/j.chb.2018.10.021
Type of Publication: A1 Journal article – refereed
Field of Science: 512 Business and management
Funding: This research has been funded and supported by Tekes - the Finnish Funding Agency for Technology and Innovation [funding number 1790/31/2016]. The authors would like to acknowledge the support of Challenge Finland and the project consortium.
Copyright information: © 2018. This manuscript version is made available under the CC-BY-NC-ND 4.0 license