Effectuation
Effectuation
NEW HORIZONS IN ENTREPRENEURSHIP
This important series is designed to make a significant contribution to the development of Entrepreneurship Studies. As this field has expanded dramatically in recent years, the series will provide an invaluable forum for the publication of high-quality works of scholarship and show the diversity of issues and practices around the world. The main emphasis of the series is on the development and application of new and original ideas in Entrepreneurship. Global in its approach, it includes some of the best theoretical and empirical work with contributions to fundamental principles, rigorous evalutions of existing concepts and competing theories, historical surveys and future visions. Titles include original monographs, edited collections, and texts. Titles in the series include: A General Theory of Entrepreneurship The Individual–Opportunity Nexus Scott Shane Academic Entrepreneurship University Spinoffs and Wealth Creation Scott Shane Economic Development Through Entrepreneurship Government, University and Business Linkages Edited by Scott Shane Growth Oriented Women Entrepreneurs and their Businesses A Global Research Perspective Edited by Candida G. Brush Nancy M. Carter, Elizabeth J. Gatewood, Patricia G. Greene and Myra M. Hart Women Entrepreneurs Across Racial Lines Issues of Human Capital, Financial Capital and Network Structures Andreas E. Smith-Hunter Effectuation Elements of Entrepreneurial Expertise Saras D. Sarasvathy
Effectuation
Elements of Entrepreneurial Expertise
Saras D. Sarasvathy
University of Virginia, USA
NEW HORIZONS IN ENTREPRENEURSHIP
Edward Elgar
Cheltenham, UK • Northampton, MA, USA
© Saras D. Sarasvathy 2008 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical or photocopying, recording, or otherwise without the prior permission of the publisher. Published by
NEW HORIZONS IN ENTREPRENEURSHIP
This important series is designed to make a significant contribution to the development of Entrepreneurship Studies. As this field has expanded dramatically in recent years, the series will provide an invaluable forum for the publication of high-quality works of scholarship and show the diversity of issues and practices around the world. The main emphasis of the series is on the development and application of new and original ideas in Entrepreneurship. Global in its approach, it includes some of the best theoretical and empirical work with contributions to fundamental principles, rigorous evalutions of existing concepts and competing theories, historical surveys and future visions. Titles include original monographs, edited collections, and texts. Titles in the series include: A General Theory of Entrepreneurship The Individual–Opportunity Nexus Scott Shane Academic Entrepreneurship University Spinoffs and Wealth Creation Scott Shane Economic Development Through Entrepreneurship Government, University and Business Linkages Edited by Scott Shane Growth Oriented Women Entrepreneurs and their Businesses A Global Research Perspective Edited by Candida G. Brush Nancy M. Carter, Elizabeth J. Gatewood, Patricia G. Greene and Myra M. Hart Women Entrepreneurs Across Racial Lines Issues of Human Capital, Financial Capital and Network Structures Andreas E. Smith-Hunter Effectuation Elements of Entrepreneurial Expertise Saras D. Sarasvathy
Effectuation
Elements of Entrepreneurial Expertise
Saras D. Sarasvathy
University of Virginia, USA
NEW HORIZONS IN ENTREPRENEURSHIP
Edward Elgar
Cheltenham, UK • Northampton, MA, USA
© Saras D. Sarasvathy 2008 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical or photocopying, recording, or otherwise without the prior permission of the publisher. Published by
References: 349 Waterman, R.H. 1990. Adhocracy: The power to change. Memphis, TN: Whittle Direct Books. Webb, N.L. 1975. An exploration of mathematical problem solving processes. Unpublished doctoral dissertation, Stanford University, CA. Wegner, D.M. 2003. The mind’s best trick: how we experience conscious will. Trends in Cognitive Science, 7: 65–9. Weick, K.E. 1979. The Social Psychology of Organizing (2nd edn). Reading, MA: Addison-Wesley. Weick, K.E. 1995. Sensemaking in Organizations. Thousand Oaks, CA: Sage Publications. Westhead, P. and Wright, M. 1998. Novice, portfolio, and serial founders: are they different? Journal of Business Venturing, 13: 173–204. Wicks, A.C. 1996. Overcoming the separation thesis: the need for a reconsideration of business and society research. Business and Society, 35(1): 89–119. Wicks, A.C., Berman, S.L. and Jones, T.M. 1999. The structure of optimal trust: moral and strategic implications. Academy of Management. The Academy of Management Review, 24(1): 99–116. Wiklund, J. and Shepherd, D. 2003. Knowledge-based resources, entrepreneurial orientation, and the performance of small and medium-sized businesses. Strategic Management Journal, 24(13): 1307. Williamson, O.E. 1985. The Economic Institutions of Capitalism: Firms, markets, and relational contracting. New York: The Free Press. Wilson, E.O. 1980. Sociobiology. Cambridge, MA: Belknap Press of Harvard University Press. Wiltbank, R., Read, S., Dew, N. and Sarasvathy, S. 2005. Prediction and control under uncertainty: outcomes in angel investing, Working Paper. Wiltbank, R., Read, S., Dew, N. and Sarasvathy, S. 2006. What to do next? The case for non-predictive strategy. Strategic Management Journal, 27(10): 981–98. Winter, S.G. 2000. The satisficing principle in capability learning. Strategic Management Journal, 21(10/11): 981. Winter, S.G. 2003. Understanding dynamic capabilities. Strategic Management Journal, 24(10): 991. Wolf, C., Jr. 1979. A theory of nonmarket failure: framework for implementation analysis. Journal of Law and Economics, 22(1): 107–39. Wolf, F.M. 1986. Meta-Analysis: Quantitative methods for research synthesis (quantitative applications in the social sciences). Thousand Oaks, CA: Sage Publications. Xekalaki, E. 1983. The univariate generalized Waring distribution in relation to accident theory: proneness, spells or contagion? Biometrics, 39(4): 887–95. 350 Effectuation Young, R.O. 1989. Cognitive processes in argumentation: an exploratory study of management consulting expertise. Unpublished doctoral dissertation, Carnegie Mellon University. Zahra, S.A. 1996. Technology strategy and financial performance: examining the moderating role of the firm’s competitive environment. Journal of Business Venturing, 11(3): 189–219. Zahra, S.A. and Bogner, W.C. 1999. Technology strategy and software new ventures’ performance: Exploring the moderating effect of the competitive environment. Journal of Business Venturing, 15(2): 135–73. Zerbe, J., Richard O. and McCurdy, H. 1999. The failure of market failure. Journal of Policy Analysis and Management, 18(4): 558.