Effectuation
Rethinking Fundamental Concepts in the Social Sciences
Format:Paperback
Publisher:Cambridge University Press
Published:13th Jun '24
Currently unavailable, and unfortunately no date known when it will be back
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- Hardback£49.99(9781009475754)
This Element offers lessons from expert entrepreneurs to tackle uncertainty and cocreate new ventures via non-predictive control techniques.
This Elements introduces effectuation and explains its framework. Effectuation theory inverts several older approaches in the 'sciences of the artificial'. These inversions suggest an entrepreneurial method based on non-predictive control that complements the predictive control techniques of the scientific method.Effectuation has become the basis for educating entrepreneurs and managers. Derived from cognitive and behavioral economic studies of expert entrepreneurs, effectuation shows how to cocreate value in highly uncertain situations. The framework of effectuation consists in techniques that minimize the use of predictive information and ways to turn control itself into strategy. In doing so, the effectual process opens up radically new ways to rethink a variety of fundamental concepts in all the social sciences. This ranges from risk and return to markets and governments in economics; attitudes toward ends and means in psychology; opportunism and altruism in social psychology; and even success and failure in strategic management. Effectuation theory inverts several older approaches in what Herbert Simon referred to as the 'sciences of the artificial'. These inversions suggest an entrepreneurial method based on non-predictive control that complements the predictive control techniques of the scientific method.
ISBN: 9781009108355
Dimensions: 229mm x 152mm x 4mm
Weight: 127g
78 pages