Does effectuation limit the kinds of ideas that you can pursue? While acknowledging the fact that there may be certain limitation in ideas that you pursue. Some of them are such as financial limitations, limitations based on skill or other factors. Professor Saras D. Sarasvathy distinguishes between the two types of limitations that arise based on whether one pursues the idea causally or effectually.
In the former, when an idea leads to limitations, one must seek to overcome them. And then chase after the desired outcome in order to move ahead. The latter, however, propounds that things that can be controlled must be dealt with. Instead of trying to overcome every and all limitations in order to move forward. Hence, the method of facing and dealing with limitations of ideas and effectuation depends on the approach that one chooses to take in pursuing an idea. Is there a law for Limitation of Ideas.
In continuing our series of effectuation we have through this video tried to address another of the law that Prof Saras has identified.
Saras Sarasvathy is a professor at the University of Virginia Darden School of business. 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.