Sarasvathy calls her process - the entrepreneurial method - :
A) causation
B) cause-and-effect
C) effectuation
D) entrepreneurialism
E) liberation

Question

Quizplus · Accepted Answer

Sarasvathy refers to her process as "effectuation". This term is derived from the word "effect", meaning to bring about or accomplish, and emphasizes the idea of taking action based on what is currently available and within one's control, rather than trying to predict the future and plan accordingly (causation). Sarasvathy's entrepreneurial method is based on five principles of effectuation: bird-in-hand (starting with what you have), affordable loss (taking calculated risks), lemonade (turning setbacks into opportunities), patchwork quilt (leveraging partnerships and resources), and pilot in the plane (maintaining control over the venture).

Sarasvathy Calls Her Process - the Entrepreneurial Method -