Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices

被引:449
作者
Dew, Nicholas [1 ]
Read, Stuart [2 ]
Sarasvathy, Saras D. [3 ]
Wiltbank, Robert [4 ]
机构
[1] USN, Postgrad Sch, Monterey, CA 93943 USA
[2] IMD, CH-1001 Lausanne, Switzerland
[3] Univ Virginia, Darden Grad Sch Business Adm, Charlottesville, VA 22906 USA
[4] Willamette Univ, Atkinson Grad Sch Management, Salem, OR 97301 USA
关键词
Entrepreneur; Framing; Expertise; Decision-making; Effectuation; ADAPTATION; PERFORMANCE; PSYCHOLOGY; SKILL;
D O I
10.1016/j.jbusvent.2008.02.002
中图分类号
F [经济];
学科分类号
02 ;
摘要
In support of theory, this study demonstrates that entrepreneurial experts frame decisions using an "effectual" logic (identify more potential markets, focus more on building the venture as a whole, pay less attention to predictive information, worry more about making do with resources on hand to invest only what they could afford to lose, and emphasize stitching together networks of partnerships); while novices use a "predictive frame" and tend to "go by the textbook." We asked 27 expert entrepreneurs and 3 7 MBA students to think aloud continuously as they solved typical decision-making problems in creating a new venture. Transcriptions were analyzed using methods from cognitive science. Results showed that expert entrepreneurs framed problems in a dramatically different way than MBA students. Published by Elsevier Inc.
引用
收藏
页码:287 / 309
页数:23
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