Career management : understanding corporate career success through effectuation theory

Abstract

There have been rigorous discussions in academic literature and business practice, on the most effective methods that can be deployed for individuals to manage their careers successfully. The aspect of corporate career management however has remained under-researched in the last two decades. The principles of effectuation theory – using your personal resources, the affordable loss principle, strategic alliances versus competition, leveraging contingencies, and controlling an unknown future versus predicting an uncertain one, have added value to the field of entrepreneurship. The purpose of this paper was to discover whether these principles add insights into understanding successful corporate career management. A qualitative, exploratory research method using an abductive approach, was employed. Fifteen semi-structured interviews were conducted with individuals who hold Master’s in Business Administration (MBA) degrees, and executive level positions within corporate organisations. Each of the interviews were examined using thematic and content analysis in an effort to address three research questions. Key findings of this study surfaced that the definition of subjective career success is multifaceted and evolves throughout an individual’s career journey. While recent literature placed employees at the centre of their career management decisions, this study showed that in corporate careers, the individuals’ organisational attachment is a critical success factor. Effectuation theory adds significant value in understanding corporate career management, however, it has certain limitations in that some of its theoretical aspects require adaptation. A corporate career management framework is provided as the main output for this research study. This model draws together the major findings of the research and outlines the approach that individuals should consider when pursuing successful corporate careers.