To effectuate is to engage in a specific type of entrepreneurial action. It has special importance for situations where the future is truly unkwable or human agency is of primary importance. In Effectuation, Saras Sarasvathy explores the theory and techniques of n-predictive control for creating new firms, markets and ecomic opportunities. Using empirical and theoretical work done in collaboration with Nobel Laureate Herbert A. Simon, the author employs methods from cognitive science and behavioral ecomics to develop the tion of entrepreneurial expertise and effectuation. Supportive empirical evidence is provided by the author's study of 27 entrepreneurs as well as other independent studies. The book then traces the consequences of effectuation for business management, ecomics and social philosophy. The author finds that effectuators generate constraint-satisfying solutions rather than searching for optimal ones, make rather than find opportunities, and in a deep sense, convert `as-if' propositions into `even-if' ones. The way they accomplish this is the central discussion of the book. Students and scholars of entrepreneurship will find this path-breaking research of great value. The book's conclusions will also be of interest to those in the fields of behavioral and evolutionary ecomics, cognitive science and management.
Saras D. Sarasvathy, Associate Professor of Entrepreneurship, Darden Graduate School of Business, University of Virginia, US
Saras D. Sarasvathy
Edward Elgar Publishing Ltd
Date of Publication
Business, Accounting & Vocational: Textbooks & Study Guides