Effectuation: Elements of Entrepreneurial Expertise

INSITE's next research seminar will feature guest Saras Sarasvathy, an Associate Professor of Business Administration at Virginia.

This free talk will be held in Grainger Hall, room 2167 at 3:30 PM on Tuesday, March 10, 2009.

Paper Abstract
Professor Sarasvathy will discuss her work on effectuation. Effectual logic consists of a set of internally consistent heuristics of non-predictive control for creating new firms, markets and economic opportunities. The logic was induced from a protocol analysis of expert entrepreneurs and then developed in detail through studies of novices, managers, organic growth leaders, angels, VCs and the early histories of entrepreneurial firms. The logic has also been related to several key ideas from economics and social philosophy. In particular, 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.

DETAILS AT A GLANCE
Date: Tuesday, March 10, 2009
Time: 3:30 PM
Place: Grainger 2167

Saras Sarasvathy is an Associate Professor at the Darden Graduate Business School in University of Virginia. She teaches entrepreneurship, organic growth and ethics to MBAs and executives, as well as several doctoral courses and the research seminar on Markets in Human Hope. In 2007, Saras was named one of the top 18 entrepreneurship professors by Fortune Small Business Magazine.

In addition to a master's degree in Industrial Administration, Saras received her Ph.D. in Information Systems from Carnegie Mellon University. Her thesis on entrepreneurial expertise was supervised by Herbert Simon, 1978 Nobel Laureate in Economics. Before joining Darden, she had been on the faculty of University of Washington and University of Maryland. And before that, she was part of the founding team in five entrepreneurial ventures.

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