Effectuation and Serendipity in the Context of an Emerging Economy: The Case of a Moroccan “Born Global” Argan Oil Company

Abstract

The entrepreneurial trajectory of young exporting ventures in the argan oil sector remains under studied within the Moroccan context. This study seeks to understand how a young firm in this sector manages, from its inception, to rapidly enter international markets, in line with the "born global" phenomenon.

To analyse this process, effectuation theory is articulated alongside the concept of serendipity, thereby offering an original theoretical contribution to the literature on born globals in emerging economies. The research draws on an exploratory case study of a non-incubated Moroccan cooperative that benefited from ad hoc government support. Data were collected through repeated semi-structured interviews conducted with the organisation’s founding members.

The findings reveal that an effectual logic operates both during the creation phase and throughout the early stages of internationalisation. The study highlights the crucial role of available resources, the founders' prior experience, and their local partner network in facilitating early access to foreign markets. Furthermore, serendipity emerges as a core mechanism of early internationalization, contributing both to the recognition of new international opportunities and to the gradual acquisition of foreign market knowledge.

These results emphasise the significance of relational resources, entrepreneurial experience, and the capability to capitalise on unforeseen events in driving the international development of young Moroccan ventures in the argan oil sector.

Classification JEL : F23-M16

Paper type : Empirical Research