Bringing People to the Table in New Ventures

An Effectual Approach

Bibliographic Data

ID21564900
AuthorsSaras D Sarasvathy (0000-0001-9135-0150, University of Virginia, corresponding author), Helet Botha (0000-0001-5312-4136, corresponding author)
Year2022
Volume38
Issue1
Pages11-34
Publication date2022-04-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueNegotiation Journal (JOURNAL)
Journal identifiersISSN: 0748-4526 • E-ISSN: 1571-9979
PublisherMIT Press (PUBLISHER • US)
DOI10.1111/nejo.12385
OpenAlexW4214587204
LanguageEN
Citations received2
References cited40

When building new ventures, entrepreneurs confront the three problems of Knightian uncertainty, goal ambiguity, and isotropy. The literature on effectuation offers a framework for action, interaction, and reaction within the prediction control space that can help entrepreneurs tackle the above three problems. In this article, we offer a framework consisting of four approaches to negotiation that populate the prediction-control space, namely, Pitch, Help, Deal, and (Effectual) Ask. While we emphasize the effectual quadrant, we examine all four from a practical perspective informed by theory, while forging important connections with established works in negotiation research. Along the way, we offer illustrative examples as well as ideas for future research at the nexus of entrepreneurship and negotiation

Ambiguity · Data mining · Entrepreneurship · Epistemology · Formality · Law and economics · Management science · Negotiation · Political science · Social science · Sociology · Computer Science · Corporate Finance and Governance · Engineering · Entrepreneurship Studies and Influences · Innovation and Knowledge Management · Law · Artificial Intelligence

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Open DOIOpen Access