Saras Sarasvathy: recipient of the 2022 Global Award for Entrepreneurship Research.
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| Authors: | Foss, Nicolai J.1 (AUTHOR) njf.si@cbs.dk, Andersson, Martin2,3 (AUTHOR), Henrekson, Magnus4 (AUTHOR), Jack, Sarah5,6 (AUTHOR), Stenkula, Mikael4 (AUTHOR), Thorburn, Karin7 (AUTHOR), Zander, Ivo8 (AUTHOR) |
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| Source: | Small Business Economics. Jun2023, Vol. 61 Issue 1, p1-10. 10p. |
| Subject Terms: | *Businesspeople, *Profit maximization, *Decision making, Research awards, Trust |
| Abstract: | Professor Saras Sarasvathy is the recipient of the 2022 Global Award for Entrepreneurship Research. Her research contributions have fundamentally changed and invigorated the conversation in the domain of entrepreneurship research. Sarasvathy's work on effectuation emphasizes how entrepreneurs operate based on available resources, think in terms of affordable loss rather than profit maximization, leverage trustworthy partnerships, and treat unforeseen contingencies as opportunities rather than problems. It has led and inspired a new generation of researchers in the quest for a better understanding of how entrepreneurs make their decisions and the unfolding of the entrepreneurial process. Plain English Summary: The winner of the 2022 Global Award for Entrepreneurship Research, Saras Sarasvathy, has improved our understanding of how entrepreneurs make decisions and has developed new concepts and ideas about the entrepreneurial process. Professor Sarasvathy introduced the term "effectuation" to emphasize how (expert) entrepreneurs operate in uncertain, unclear, and ill-structured problem situations. In short, she developed five principles used by entrepreneurs to control rather than predict the future. These principles emphasize how entrepreneurs use available resources and trustworthy partners as well as think in terms of affordable loss rather than profit maximization. Entrepreneurs also often see unforeseen surprises as opportunities rather than problems. This view has now emerged as one of the key approaches in entrepreneurship theory, empirics, and practice within management research on entrepreneurship. [ABSTRACT FROM AUTHOR] |
| Database: | Entrepreneurial Studies Source |
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| Abstract: | Professor Saras Sarasvathy is the recipient of the 2022 Global Award for Entrepreneurship Research. Her research contributions have fundamentally changed and invigorated the conversation in the domain of entrepreneurship research. Sarasvathy's work on effectuation emphasizes how entrepreneurs operate based on available resources, think in terms of affordable loss rather than profit maximization, leverage trustworthy partnerships, and treat unforeseen contingencies as opportunities rather than problems. It has led and inspired a new generation of researchers in the quest for a better understanding of how entrepreneurs make their decisions and the unfolding of the entrepreneurial process. Plain English Summary: The winner of the 2022 Global Award for Entrepreneurship Research, Saras Sarasvathy, has improved our understanding of how entrepreneurs make decisions and has developed new concepts and ideas about the entrepreneurial process. Professor Sarasvathy introduced the term "effectuation" to emphasize how (expert) entrepreneurs operate in uncertain, unclear, and ill-structured problem situations. In short, she developed five principles used by entrepreneurs to control rather than predict the future. These principles emphasize how entrepreneurs use available resources and trustworthy partners as well as think in terms of affordable loss rather than profit maximization. Entrepreneurs also often see unforeseen surprises as opportunities rather than problems. This view has now emerged as one of the key approaches in entrepreneurship theory, empirics, and practice within management research on entrepreneurship. [ABSTRACT FROM AUTHOR] |
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| ISSN: | 0921898X |
| DOI: | 10.1007/s11187-023-00746-6 |
