How effectuation theory can support the design of sustainable business? How can they be combined in order to reach new and better sustainability results?
Hi, Farley:
Here are some papers that you're looking for:
Mthanti, T. S., & Urban, B. (2014). Effectuation and entrepreneurial orientation in high-technology firms. Technology Analysis & Strategic Management, 26(2), 121-133.
Read, S., & Sarasvathy, S. D. (2005). Knowing What to Do and Doing What You Know: Effectuation as a Form of Entrepreneurial Expertise. Journal Of Private Equity, 9(1), 45-62.
Sarasvathy, S. D. (2001). CAUSATION AND EFFECTUATION: TOWARD A THEORETICAL SHIFT FROM ECONOMIC INEVITABILITY TO ENTREPRENEURIAL CONTINGENCY. Academy Of Management Review, 26(2), 243-263.
Hope this helps...
Dear Mohammed Nadeem,
I really appreciated your answer; but I mean a connection between Effectuation and Sustainability (Sustainable Entrepreneurship)? Regards, Farley
Hi, Farley,
I see an undeniable connection between effectuation and sustainability. please take a look at the attached figure!
In the figure sustainability as effectuation, shown by the dotted arrows, begins with a vision of desired end states and works through the new paradigm to the design of new structures that will result in observable conditions that are desired ( Brønn, and Kutzschenbach, 2014).
Hope this helps!
Nadeem
Dear Frédéric Dufays, your recommendations are excellent! Thank you very much! I will keep you informed about any future research results on the subject of sustainable entrepreneurship I am taking with my students. Kind Regards, Farley S. Nobre
Hi Farley, I had a relevant discussion with Sarasvathy when she was visiting us in Netherlands last month. On one hand she was promoting Effectuation as a beneficial form of Entrepreneurial decision making, hence she promote it as a tool to Maximize the return on societies embedded capabilities (hence it invites sustinability through efficient use of individual's never lasting potential). On the other hand, I was arguing that Effectual Entreprenurship invites risk, and promote startups (who are by definition 90% failure and 10% success) Hence The societal cost of failure is more than what society can sustainably afford. In other words, Effectual invited sustainable entrepreneurship only for those who can afford to bear risk, ensure failures, and retry investing. But on a societal level it negatively affects the investment ecosystem.
Dear Mostafa,
thank you but I found not find the link between Effectuation and Sustainable Business / Social Entrepreneurship in those papers??? Regards, Farley.
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