The DOI matches its Crossref record; 104 of the 104 references it cites were found in a registry or an index.
Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices
Abstract
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 37 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.
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Citations
Cites
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Cited by
The entrepreneur–environment nexus: Uncertainty, innovation, and allocation
York, J. G., & Venkataraman, S. (2010) · Journal of Business Venturing · doi:10.1016/j.jbusvent.2009.07.007 · Cited by 818
Prediction- and Control-Based Strategies in Entrepreneurship: The Role of Information
Kuechle, G., Boulu-Reshef, B., & Carr, S. (2016) · HAL (Le Centre pour la Communication Scientifique Directe) · doi:10.1002/sej · Cited by 513
Huang, L., & Pearce, J. L. (2015) · Administrative Science Quarterly · doi:10.1177/0001839215597270 · Cited by 465
Uncertainty Types and Transitions in the Entrepreneurial Process
Packard, M. D., Clark, B. B., & Klein, P. G. (2017) · Organization Science · doi:10.1287/orsc.2017.1143 · Cited by 396
Effectuation and Networking of Internationalizing SMEs
Galkina, T., & Chetty, S. (2015) · Management International Review · doi:10.1007/s11575-015-0251-x · Cited by 271
Metadata
- Authors
- Dew, N., Read, S., Sarasvathy, S. D., & Wiltbank, R.
- Venue
- Journal of Business Venturing
- Publisher
- Elsevier BV
- Published
- 2009-07
- Volume
- 24
- Issue
- 4
- Pages
- 287-309
- ISSN
- 0883-9026 (ISSN-L)
- OpenAlex
- W2013340531
- Cited by
- 829
- References
- 104
- FWCI
- 28.88
- Type
- journal article
- Language
- en
- Open access
- closed
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- Dew, N., Read, S., Sarasvathy, S. D., & Wiltbank, R. (2009). Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices. Journal of Business Venturing. https://doi.org/10.1016/j.jbusvent.2008.02.002
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
