Description
Effectuation: Rethinking Fundamental Concepts in the Social Sciences introduces a revolutionary approach to understanding entrepreneurship and strategic decision-making. Saras Sarasvathy argues that entrepreneurs don’t follow the conventional planning model of setting goals and finding means to achieve them. Instead, they start with their existing means—who they are, what they know, and whom they know—and use creative reasoning to build new ventures.
This Element explores how effectual logic differs from causal reasoning and why it matters for business strategy, innovation, and organizational behavior. Rather than predicting the future, effectual entrepreneurs embrace contingency and control, building on affordable losses and leveraging stakeholder partnerships to shape outcomes. The framework has profound implications for how we teach entrepreneurship, conduct business strategy, and understand human agency in uncertain conditions.
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