Prof. Sarasvathy examined the problem-solving process of 30 entrepreneurs from a variety of industries whose companies range in value from USD 200 million to USD 6.5 billion. Careful analysis reveals a distinct thought process: „effectual reasoning“. Her research delineates the way in which entrepreneurs factor in affordable loss, in strategic partnerships, and leveraging contingencies.
Thinking entrepreneurially, as opposed to managerially or strategically, means believing in a yet-to-be-made future that can be shaped by human action.