This document summarizes a presentation on effectuation and entrepreneurship. It discusses research by Sarasvathy comparing expert entrepreneurs to novices. Expert entrepreneurs take a effectual approach, focusing on available means rather than predictive markets. They expand resources by making commitments with stakeholders. The document also contrasts effectual and causal logic, and how effectual entrepreneurs view contingencies as new opportunities rather than surprises to avoid.
Lecture 1 MOOC@TU9: Entrepreneurship by Prof. Brettel
1. School of Business and Economics
TIME Research Area | Innovation & Entrepreneurship Group (WIN)
Entrepreneurship and Innovation
TU9 MOOC – Introduction to Effectuation
Univ.-Prof. Dr. Malte Brettel | Aachen | October, 20nd 2014