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The Art of the Effectual Ask
Sarasvathy, Saras D.; Whiffen, SaraTechnical Note DARDEN-ENT-0225-EEntrepreneurshipEntrepreneurs strive to solve problems and create value through partnerships. Studying how they do that led to the hypothesis that “asking” played a critical role in the success of an entrepreneur. This note addresses studies of expert entrepreneurs and how they differ from novice entrepreneurs, including discussion on type, method, and frequency of asking, as well as effectual reasoning.Starting at €8.20
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Legal Issues for New Ventures: Choice of Lawyer and Choice of Entity
Sarasvathy, Saras D.; Ishrat, M.; White, RichardTechnical Note DARDEN-ENT-0072-EEntrepreneurshipThis note discusses the legal issues entrepreneurs must consider as they form their company as a legal entity. In Q&A format, the note concisely defines the types of entity available and discusses when and how to engage a lawyer.Starting at €8.20
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The Affordable Loss Principle
Sarasvathy, Saras D.Technical Note DARDEN-ENT-0075-EEntrepreneurshipIdeal for a study of entrepreneurship as a phenomenon, this note explores the difference between causal models and effectuation. Whereas causal models focus on maximizing returns by selecting optimal strategies, effectuation begins with a determination of how much one is willing to lose and leveraging limited means in creative ways to generate new ends as well as new means. The effectuator then uses the very process of building the venture to bri...Starting at €8.20
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The Bird-in-Hand Principle: Who I Am, What I Know, and Whom I Know
Sarasvathy, Saras D.Technical Note DARDEN-ENT-0090-EEntrepreneurshipThis technical note explores a framework by which entrepreneurs can evaluate their ideas before going forward based on who they are, what they know, and whom they know. Drawing on frameworks presented in textbooks, trade books, journal articles, periodicals, and on Web sites that claim to predict the feasibility and value of new venture ideas. Figure 1 depicts a simple and useful summary of four key concepts at the heart of many of these framewor...Starting at €8.20
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"Ought" to "Can": Questions for an Entrepreneurial Future
Sarasvathy, Saras D.; Venkataraman, S.Technical Note DARDEN-ENT-0132-EEntrepreneurshipThis technical note explores the broadening role of entrepreneurship as both an economic and societal force. Students learn that as a distinct problem-solving method, entrepreneurship is teachable and applicable to a wide variety of issues central to human well-being and social improvement. It is akin to the scientific method in its capability to generate both the means to achieve yesterday’s ends and the reasons to reject them in favor of new en...Starting at €8.20
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Boards for a New Venture: Putting Together Boards and Working with Them
Sarasvathy, Saras D.Technical Note DARDEN-ENT-0071-EEntrepreneurshipThis note teaches students at all levels how to establish a board for a new venture, explaining why it is necessary, how to attract the right members, how to compensate them, how to distinguish advisors versus directors, how to deal with board conflicts.Starting at €8.20
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New Venture Performance
Sarasvathy, Saras D.Technical Note DARDEN-ENT-0074-EEntrepreneurshipThis note examines the pros and cons of two ways to build new ventures. The former is called causal or predictive, because it depends on accurate predictions and clear goals. The latter is effectual or nonpredictive, and it is extremely stakeholder-dependent and means-driven. It is very tempting to jump to the conclusion that the latter is the better way since it is overwhelmingly preferred by expert entrepreneurs. But is that really so?Starting at €8.20
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The Entrepreneurial Method: How Expert Entrepreneurs Create New Markets
Sarasvathy, Saras D.Technical Note DARDEN-ENT-0073-EEntrepreneurshipThis note reflects a new focus on "effectuation," the logic behind entrepreneurial expertise, which consists of tacit as well as learnable and teachable aspects of experience that are related to high performance in specific domains. Instead of taking either traits or circumstances as inputs and trying to explain variance in performance, the expertise lens focuses on understanding commonalties across a variety of experts in a single domain, given ...Starting at €8.20