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Investigating effectuation theory application in practice when evaluating a distressed venture opportunity
Thesis (PhD (Business Management))--University of Pretoria, 2024.
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University of Pretoria
2024
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| _version_ | 1867613677286326272 |
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| access_status_str | Open Access |
| author2 | Pretorius, Marius |
| author_browse | Pretorius, Marius |
| author_facet | Pretorius, Marius |
| collection | Thesis |
| dc_rights_str_mv | © 2023 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Thesis (PhD (Business Management))--University of Pretoria, 2024. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/96866 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:39:56.908Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/96866 Investigating effectuation theory application in practice when evaluating a distressed venture opportunity Pretorius, Marius thabang.madigoe@gmail.com Madigoe, Thabang Distressed venture opportunity Effectuation theory Reasonable prospect Turnaround professionals Generic qualitative study Business rescue practitioners Decision-making Business rescue Opportunity Distressed venture opportunity SDG-08: Decent work and economic growth Economic and management sciences SDG-08 SDG-09: Industry, innovation and infrastructure Economic and management sciences SDG-09 Thesis (PhD (Business Management))--University of Pretoria, 2024. Once appointed, business rescue practitioners (BRPs) and turnaround professionals (TPs) are faced with critical decision-making as to whether a distressed venture remains viable. A distressed venture opportunity (DVO) is judged by reasonable prospect (RP), which is subject to different perceptions, opinions and interpretations by BRPs and TPs. Effectuation is applied by experts to the entrepreneurial opportunity; however, the question arises whether effectuation (or its elements) can be applied to the distressed venture and its associated decision-making. The aim of this generic qualitative study was to investigate and explore effectuation theory application to the DVO. In total, the study had 20 participants from the Gauteng province. Within the group of 15 BRPs, there were 10 TPs and five BRPs from a liquidation and legal background. Additionally, five business rescue trainees were interviewed and the data were collected through semi-structured interviews. The study revealed that all five effectuation principles are relevant to the DVO and both effectuation and causation are applied in a complementary manner and BRPs navigate between the two logics depending on the context. Effectuation principles are applied in the industry based on participants’ perceptions and several factors moderating the inclination towards effectuation and/or causation were explored. Notably, effectuation principles inform the choice for reorganisation/better return than in liquidation (BRiL)/liquidation and the bird-in-hand and the crazy-quilt principles were identified as critical, having a strong relationship with RP. Business Management PhD (Business Management) Unrestricted Faculty of Economic And Management Sciences SDG-08: Decent work and economic growth SDG-09: Industry, innovation and infrastructure 2024-07-09T13:01:56Z 2024-07-09T13:01:56Z 2024-09 2024-02-13 Thesis * S2024 http://hdl.handle.net/2263/96866 https://doi.org/10.25403/UPresearchdata.26038933.v1 © 2023 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | Distressed venture opportunity Effectuation theory Reasonable prospect Turnaround professionals Generic qualitative study Business rescue practitioners Decision-making Business rescue Opportunity Distressed venture opportunity SDG-08: Decent work and economic growth Economic and management sciences SDG-08 SDG-09: Industry, innovation and infrastructure Economic and management sciences SDG-09 Investigating effectuation theory application in practice when evaluating a distressed venture opportunity |
| title | Investigating effectuation theory application in practice when evaluating a distressed venture opportunity |
| title_full | Investigating effectuation theory application in practice when evaluating a distressed venture opportunity |
| title_fullStr | Investigating effectuation theory application in practice when evaluating a distressed venture opportunity |
| title_full_unstemmed | Investigating effectuation theory application in practice when evaluating a distressed venture opportunity |
| title_short | Investigating effectuation theory application in practice when evaluating a distressed venture opportunity |
| title_sort | investigating effectuation theory application in practice when evaluating a distressed venture opportunity |
| topic | Distressed venture opportunity Effectuation theory Reasonable prospect Turnaround professionals Generic qualitative study Business rescue practitioners Decision-making Business rescue Opportunity Distressed venture opportunity SDG-08: Decent work and economic growth Economic and management sciences SDG-08 SDG-09: Industry, innovation and infrastructure Economic and management sciences SDG-09 |
| url | http://hdl.handle.net/2263/96866 https://doi.org/10.25403/UPresearchdata.26038933.v1 |