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Effectual entrepreneurial expertise: existence and bounds

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IconDew_entrepreneurial-decision-making-existence-and-bounds_2007.pdf (96.31Kb)
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Author
Sarasvathy, Saras D.
Dew, Nicholas
Read, Stuart
Wiltbank, Robert
Date
2007
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Abstract
Recent theorizing in entrepreneurship has proposed effectuation as a baseline model of entrepreneurial expertise that goes beyond the “toolbox” of basic business skills such as market research and business planning. This study seeks to empirically delineate key elements of entrepreneurial expertise as compared with basic business knowledge. Think aloud protocols were extracted from 27 expert entrepreneurs and 37 MBA students who were asked to identify the market for a single new product. Analyses revealed that 89% of experts used effectuation more frequently than causation, while MBA students demonstrated a noticeably opposing preference, with 81% using causation more than effectuation.
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This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.
URI
http://hdl.handle.net/10945/41246
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