
Effectuation
Rethinking Fundamental Concepts in the Social Sciences
Saras Sarasvathy(Author)
Cambridge University Press
Published on 13. June 2024
Book
Hardback
78 pages
978-1-009-47575-4 (ISBN)
Description
Effectuation has become the basis for educating entrepreneurs and managers. Derived from cognitive and behavioral economic studies of expert entrepreneurs, effectuation shows how to cocreate value in highly uncertain situations. The framework of effectuation consists in techniques that minimize the use of predictive information and ways to turn control itself into strategy. In doing so, the effectual process opens up radically new ways to rethink a variety of fundamental concepts in all the social sciences. This ranges from risk and return to markets and governments in economics; attitudes toward ends and means in psychology; opportunism and altruism in social psychology; and even success and failure in strategic management. Effectuation theory inverts several older approaches in what Herbert Simon referred to as the 'sciences of the artificial'. These inversions suggest an entrepreneurial method based on non-predictive control that complements the predictive control techniques of the scientific method.
More details
Series
Language
English
Place of publication
Cambridge
United Kingdom
Product notice
sewn/stitched
Cloth over boards
Illustrations
Worked examples or Exercises
Dimensions
Height: 229 mm
Width: 152 mm
Thickness: 6 mm
Weight
277 gr
ISBN-13
978-1-009-47575-4 (9781009475754)
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E-Book
06/2024
Cambridge University Press
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06/2024
Cambridge University Press
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Content
1. Origins in entrepreneurial expertise; 2. Effectual transformations of fundamental concepts; 3. Predictive Science and Effectual Entrepreneurship.