Paperback: 240 pages
Publisher: Routledge; 1 edition (December 23, 2010)
Language: English
ISBN-10: 0415586445
ISBN-13: 978-0415586443
Product Dimensions: 10.7 x 8.6 x 0.6 inches
Shipping Weight: 1.6 pounds (View shipping rates and policies)
Average Customer Review: 4.4 out of 5 stars See all reviews (8 customer reviews)
Best Sellers Rank: #51,384 in Books (See Top 100 in Books) #20 in Books > Textbooks > Business & Finance > Entrepreneurship #120 in Books > Business & Money > Small Business & Entrepreneurship > New Business Enterprises #357 in Books > Textbooks > Business & Finance > Economics
This is a very worthwhile book that advances a lucid and academically sound perspective on entrepreneurship. It is a view on value creation that goes against the grain of much that is being taught at business schools the world around.Despite the theory's academic credentials this book is not an abstract treatise (for a more rigorous treatment, see Sarasvathy's Effectuation: Elements of Entrepreneurial Expertise (New Horizons in Entrepreneurship series)). It wants to support aspiring and practicing entrepreneurs in building successful ventures. It is very accessibly written with a minimum of jargon. I was surprised and happy to see my 18-year old son pick up this book and read it in just a few sittings. Since it has offered interesting fodder for family table talk.So what is `effectual entrepreneurship' about? Effectuation is a way of creating a business that is prepared to acknowledge irreducible uncertainty: the market cannot be defined; consumers are not aware of their future preferences; new technologies may emerge; available data are incomplete and conflicting. Acknowledging these constraints means that we can only have modest expectations as regards the usefulness of market research and competitive analysis to lead us to new opportunities. So, rather than the prevailing `search and select' paradigm (identify underserved markets, build business case, implement), a `create and transform' approach is in order.
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