Business models and business model change have drawn increasing attention fromudboth researchers and practitioners across various disciplines, including the domainudof entrepreneurship. However, even though the importance of business modeludinnovation as a driver of firm performance has been widely acknowledged, empiricaludstudies explaining the business model change remain limited. This study contributesudto prior research by examining the effects of effectual and causation-based decisionmakingudlogics on the degree of business model change in the context of small andudmedium-sized enterprises in Finland. The findings of hierarchical regression analysisudshow that both causation and effectuation-based logics have positive effects onudbusiness model change, thereby highlighting the need for both strategizing andudseizing of opportunities in business model development.
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