Prof Saras D. Sarasvathy speaks more about her research and her study in this video. The research was conducted on various expert entrepreneur. It was to show that the lessons learnt by these “experts” are not merely a result of their individual levels of success or their particular fields or industries of focus. It was rather these lessons and the knowledge that they have acquired are result of entrepreneurship itself.
She shares the process of her experiment. She reached out to those who fit the requirements and qualifications to be called “expert entrepreneurs”. These entrepreneurs were from various fields and made them all tackle the same decision making problems that entrepreneurs face. Thus, she was able to come up with empirical data that she could use to compare the results.
It is not everybody who owns a business that is called an expert entrepreneur. She discusses the research she carried out which involved those people who qualify. According to her findings, only 245 people qualify as expert entrepreneurs. The study was carried out among 45 entrepreneurs. This was to prove that even though they run different enterprises, there is a common trait of knowledge learned in entrepreneurship.
Saras Sarasvathy is a professor at the University of Virginia Darden School of business. Entrepreneurship, cognitive science and behavioural economics are her areas of specialty. Her work in entrepreneurship has won numerous awards and accolades. Moreover, she is recognized in various parts of the world contributions towards entrepreneurship and as a lecturer. She has also published books and academic papers. From her research, she concluded that expert entrepreneurs use the principle of effectuation.