Role of culture in effectuation: exploring the Marwari cultural philosophy and entrepreneurial approach

Conference item


Amoncar, Nihar, Deacon, Jonathan and Stephens, Paula 2016. Role of culture in effectuation: exploring the Marwari cultural philosophy and entrepreneurial approach. Institute of Small Business and Entrepreneurship Conference 2016: Institutional voids.
AuthorsAmoncar, Nihar, Deacon, Jonathan and Stephens, Paula
Abstract

Social constructivist research within Entrepreneurship has gained momentum in recent years and this paper fits within this category. The paper explores the Marwari Business community from India which according to Timberg (2014, pp. 12), starting out as mere shopkeepers, the Marwaris controlled much of India’s inland trade by the time of the First World War. From trading and money-lending in the early 19th century, they gradually entered industrial entrepreneurship and by the 1970’s owned most of India’s private industrial assets. They now account for a quarter of the Indian names on the Forbes billionaires list (Timberg, 2014, pp. 12). The sustainable success of the Marwaris resulted in the authors of this paper leading an exploration on the history of the business community in India. This exploration led the authors of the paper into exploring the Hindu cultural philosophy based on the Vedantic school of thought to understand the roots of the Marwari community. The paper explores in detail the accounts of the limited empirical data available on the community through the works of Timberg (2014) and Damodaran (2008). This exploration resulted in identifying examples of entrepreneurial practice, which closely resemble what Sarasvathy (2001) terms as Effectuation. Effectuation theory has gained traction as growing number of researchers acknowledge that todays entrepreneurs tend to work within an uncertain environment wherein it is not possible to predict the future (Morrish, 2009, pp. 35). But according to Chandler (2011, pp. 387), there is need to explore more antecedents or determinants of Effectuation than simply uncertainty. The paper hence explores whether culture may emerge as an antecedent or determinant of Effectuation by presenting literature on the relationship between Effectuation, Entrepreneurial Orientation and Culture. The research questions emerging are as follows:

RQ1) Do certain socio-cultural conditions positively impact Effectual behavior in Entrepreneurship?
RQ2) Can culture be positioned as an antecedent to Effectuation in a collectivist society?

This paper is based on the literature being explored as a part of PhD research. The research is in its early stage and the approach involves interpretive deductive analysis of the existing literature on Marwaris, Hindu Philosophy, Entrepreneurial Orientation and Effectuation, which results in the conceptual framework. The second stage of the PhD research will involve thematic analysis of narratives gathered from prominent members of the Marwari community from Calcutta and Jharkhand in India, which is aimed at inducting contemporary empirical evidence of Marwari entrepreneurial philosophy and potentially addressing not only the conceptual framework, but also the questions and discussions arising from the interpretive deductive analysis of the literature presented within this paper. The paper begins with the Methodology chapter in order to a) present an early clarity on the flow of literature within the paper and b) to avoid a break in flow of the ‘story’, a manner in which the literature and arguments are presented thereafter. This is followed by review of literature on Effectuation, community entrepreneurship, role of culture within entrepreneurship, Indian Hindu cultural philosophy and finally, a case account of Marwaris through review on limited existing empirical data on the community.

KeywordsEffectuation; Entrepreneurship; Religon; Culture; Networks
Year2016
PublisherInstitute of Small Business and Entrepreneurship Conference 2016: Institutional voids
Web address (URL)http://hdl.handle.net/10545/624900
http://creativecommons.org/publicdomain/zero/1.0/
hdl:10545/624900
ISBN9781900862295
File
File Access Level
Open
File
File Access Level
Open
File
File Access Level
Open
Publication dates28 Oct 2016
Publication process dates
Deposited18 Jun 2020, 14:59
Accepted31 May 2016
Rights

CC0 1.0 Universal

ContributorsUniversity of South Wales
Permalink -

https://repository.derby.ac.uk/item/93vx4/role-of-culture-in-effectuation-exploring-the-marwari-cultural-philosophy-and-entrepreneurial-approach

Download files


File
license.txt
File access level: Open

license_rdf
File access level: Open

ISBE conference paper.pdf
File access level: Open

  • 53
    total views
  • 65
    total downloads
  • 7
    views this month
  • 7
    downloads this month

Export as

Related outputs

Two-stage taxonomy for measuring success in social marketing practice
Akbar, B., Amoncar, N., Cateriano, E. and Lawson, A. 2023. Two-stage taxonomy for measuring success in social marketing practice. Journal of Social Marketing. pp. 1-18. https://doi.org/10.1108/JSOCM-11-2022-0226
Entrepreneurial marketing and digital political communication – a citizen-led perspective on the role of social media in political discourse
Amoncar, Nihar 2020. Entrepreneurial marketing and digital political communication – a citizen-led perspective on the role of social media in political discourse. Journal of Research in Marketing and Entrepreneurship. https://doi.org/10.1108/JRME-12-2018-0066
Social media in politics – simple aggregator or the emerging Ministry of truth
Amoncar, Nihar and Deacon, Jonathan 2017. Social media in politics – simple aggregator or the emerging Ministry of truth. Academy of Marketing.
The emerging conditions of meta-modernism: an observation-based interpretivist perspective on the curious case of Royal Enfield
Amoncar, Nihar and Deacon, Jonathan 2016. The emerging conditions of meta-modernism: an observation-based interpretivist perspective on the curious case of Royal Enfield. Academy of Marketing.
The pursuit of economic prosperity – exploring the entrepreneurial philosophy and approach of the Marwari Business community in India
Amoncar, Nihar, Deacon, Jonathan and Stephens, Paula 2017. The pursuit of economic prosperity – exploring the entrepreneurial philosophy and approach of the Marwari Business community in India. Academy of Marketing.
Transgenerational business legacies and intergenerational succession among the Igbos (Nigeria)
Igwe, Paul, Madichie, Nnamdi and Amoncar, Nihar 2020. Transgenerational business legacies and intergenerational succession among the Igbos (Nigeria). Small Enterprise Research. https://doi.org/10.1080/13215906.2020.1751692
Defining contextual advantage: exploring the contextual relation between effectuation and entrepreneurial marketing for creating new markets effectually
Amoncar, Nihar, Deacon, Jonathan and Stephens, Paula 2016. Defining contextual advantage: exploring the contextual relation between effectuation and entrepreneurial marketing for creating new markets effectually. Asia Pacific Journal of Advanced Business and Social Studies.
The notion of growth: A research agenda for SMEs and entrepreneurs
Deacon, Jonathan and Amoncar, Nihar 2016. The notion of growth: A research agenda for SMEs and entrepreneurs. Journal of the Association for Management Education and Development.
Keeping it in the family: exploring Igbo ethnic entrepreneurial behaviour in Nigeria
Igwe, Paul Agu, Newbery, Robert, Amoncar, Nihar, White, Gareth R.T. and Madichie, Nnamdi O. 2018. Keeping it in the family: exploring Igbo ethnic entrepreneurial behaviour in Nigeria. International Journal of Entrepreneurial Behavior & Research. 26 (1), pp. 34-53. https://doi.org/10.1108/ijebr-12-2017-0492