Saras Sarasvathy

Sarasvathy grew up in Mumbai and received her B.Com. in statistics at the University of Bombay before embarking on a career of entrepreneurship. From 1980 to 1991 she founded or co-founded 5 different businesses on three different continents that included a restaurant and a manufacturing company.{{Cite web |last=Silberzahn |first=Philippe |date=2022-06-09 |title=Why the award received by Saras Sarasvathy is important |url=https://philippesilberzahneng.com/2022/06/09/entrepreneurship-and-human-action-why-the-award-received-by-dardens-saras-sarasvathy-is-important/ |access-date=2023-04-07 |website=Philippe Silberzahn |language=en-US}}  Her 5th business was destroyed by a flood leaving Sarasvathy without a company but motivated to more rigorously understand her chosen field of Entrepreneurship.

In 1992 Sarasvathy was accepted to Carnegie Mellon Graduate School of Industrial Administration, graduating in 1994. In 1994 she was accepted into the PhD program for information systems at Carnegie Mellon University where her research was supervised by Nobel Laureate Herbert Simon, considered a pioneer in Artificial Intelligence.  While at CMU Sarasvathy began her study of Entrepreneurship by writing her dissertation about the differences between how bankers and entrepreneurs view and manage risk, which resulted in her first article co-Authored with Herbert Simon.{{Cite journal |last1=Sarasvathy |first1=D. K. |last2=Simon |first2=Herbert A. |last3=Lave |first3=Lester|author3-link=Lester Lave |date=1998-01-01 |title=Perceiving and managing business risks: differences between entrepreneurs and bankers |url=https://www.sciencedirect.com/science/article/pii/S0167268197000929 |journal=Journal of Economic Behavior & Organization |language=en |volume=33 |issue=2 |pages=207–225 |doi=10.1016/S0167-2681(97)00092-9 |issn=0167-2681|url-access=subscription }}

Sarasvathy's study of expert entrepreneurs and their thinking process began while she was at CMU and would continue through the rest of her career. She was an assistant professor at University of Washington from 1998 to 2002 and then was an assistant professor at University of Maryland from 2002 to 2004. In 2004 Sarasvathy joined the faculty at University of Virginia's Darden School of Business as an associate professor. She is now the Paul Hammaker Professor of Business Administration at the University of Virginia Darden School of Business.

Through her publications and research, Sarasvathy is known for her creation of Effectuation, a logic of Entrepreneurial Action, based on her studies of Expert Entrepreneurs.{{Cite web |last=Sastry |first=Prathibha |date=2020-01-16 |title=Prof Saras D. Sarasvathy Talks About Effectuation in Entrepreneurship |url=https://www.entrepreneur.com/en-in/growth-strategies/prof-saras-d-sarasvathy-talks-about-effectuation-in/345107 |access-date=2023-04-07 |website=Entrepreneur |language=en}} Named for its contrast to causal thinking, a tenet of managerial decision making, Effectual thinking or Effectuation is means-driven and eschews predictive thinking common in large companies.{{Cite journal |last=Deutsch |first=Waverly |date=November 26, 2016 |title=Corporate Leaders: Watch How Entrepreneurs Think |url=https://www.chicagobooth.edu/review/corporate-leaders-watch-how-entrepreneurs-think?sc_lang=en |journal=Chicago Booth Review}}{{Cite news |last=Taylor |first=Bill |date=2009-05-04 |title=MBAs vs. Entrepreneurs: Who Has the Right Stuff for Tough Times? |work=Harvard Business Review |url=https://hbr.org/2009/05/mbas-vs-entrepreneurs-who-has |access-date=2023-04-07 |issn=0017-8012}}  Together the five principles of Effectuation place an emphasis on taking action over planning.{{Cite web |last=Schlesinger |first=Len |date=February 10, 2012 |title=Just Start! - Bloomberg |url=https://www.bloomberg.com/news/articles/2012-02-10/just-start |access-date=2023-04-07 |website=Bloomberg Business}} In 2011 Professor Sarasvathy and Effectuation were the subject of the cover article of Inc. Magazine and her article [https://www.khoslaventures.com/what-makes-entrepreneurs-entrepreneurial/ “What Makes Entrepreneurs Entrepreneurial?]" was discovered by leading Venture Capitalist Vinod Khosla who called it “The first good paper I’ve seen”.{{Cite web |date=2014-01-21 |title=Effectuation – The best theory of entrepreneurship you actually follow, whether you've heard of it or not |url=https://necrophone.com/2014/01/20/effectuation-the-best-theory-of-entrepreneurship-you-actually-follow-whether-youve-heard-of-it-or-not/ |access-date=2023-04-07 |website=Necrophone |language=en}}{{Cite web |title=What Makes Entrepreneurs Entreprenerial? |url=https://www.khoslaventures.com/wp-content/uploads/What_makes_entrepreneurs_entrepreneurial.pdf |access-date=April 7, 2023 |website=Khosla Ventures}}

Sarasvathy has published over 60 peer-reviewed articles in prestigious journals, such as Strategic Management Journal, The Academy of Management Review, Entrepreneurship Theory & Practice, Entrepreneurship and Regional Development, and the Journal of Business Venturing. She has also authored 8 books and over 36 book chapters.{{Cite web |title=Saras Sarasvathy CV |url=https://www.darden.virginia.edu/sites/default/files/inline-files/CV-Sarasvathy-February2023.pdf |access-date=April 7, 2023 |website=Darden.Virginia.Edu}}

In 2020 Effectuation was the subject of a special issue of the Small Business Economic Journal.{{Cite journal |date=March 2020 |title=Special Issue: Effectuation and entrepreneurship theory: How effectuation relates to other concepts, models, and theories within entrepreneurship |url=https://link.springer.com/journal/11187/volumes-and-issues/54-3 |journal=Small Business Economics |volume=54 |issue=3}}

In 2022 Sarasvathy received the Global Award for Entrepreneurship Research, considered the top award for academic scholarship in Entrepreneurship{{Cite journal |last1=Henrekson |first1=Magnus |last2=Lundström |first2=Anders |date=2009-01-01 |title=The Global Award for Entrepreneurship Research |journal=Small Business Economics |language=en |volume=32 |issue=1 |pages=1–14 |doi=10.1007/s11187-008-9141-y |s2cid=10265169 |issn=1573-0913|doi-access=free }} and was also invited to give the 5th Herbert Simon Society lecture.{{Cite web |date=November 21, 2022 |title=5TH HERBERT SIMON HONORARY LECTURE |url=https://herbertsimonsociety.org/wp-content/uploads/2022/10/800X1080_STD_HSS.pdf |website=herbertsimonsociety.org}}

• Global Award for Entrepreneurship Research, 2022{{Cite web |title=2022 Saras D. Sarasvathy – Global Award for Entrepreneurship Research |date=2 March 2020 |url=https://www.e-award.org/award-winners/2022-saras-d-sarasvathy/ |access-date=2023-04-07 |language=en-US}}
• Doctor of Humane Letters, Chalmers University, 2022{{Cite web |last= |first= |date=February 15, 2022 |title=Entrepreneurship researcher is 2022s honorary doctor |url=https://www.miragenews.com/entrepreneurship-researcher-is-2022s-honorary-725244/ |access-date=April 7, 2023 |website=Mirage news |language=en-AU}}
• Small Business Economics special issue about Effectuation, 2020
• Legacy Impact Award from Global Consortium of Entrepreneurship Centers, 2019{{Cite web |date=2019-10-01 |title=UVA Darden Effectuation Pioneer Receives Global Legacy Impact Award |url=https://news.darden.virginia.edu/2019/10/01/sarasvathy-effectuation-pioneer-receives-award/ |access-date=2023-04-07 |website=Darden Report Online |language=en-US}}
• Foundational Paper Award from Academy of Management, 2017{{Cite web |title=Foundational Paper Award - Entrepreneurship Division |url=https://ent.aom.org/awards/foundational-paper-award |access-date=2023-04-07 |website=ent.aom.org |language=en}}
• Jubilee Professor of Entrepreneurship, Chalmers University, Gothenburg, Sweden, 2015{{Cite web |title=Business Case Studies & Business Publications - Darden Business Publishing. Saras Sarasvathy Honored with Jubilee Professorship |url=https://store.darden.virginia.edu/saras-sarasvathy-honored-with-jubilee-professorship |access-date=2023-04-07 |website=store.darden.virginia.edu}}
• Doctor of Humane Letters, Babson College, 2013{{Cite press release |last=College |first=Babson |title=Entrepreneurial Leaders Named 2013 Babson Honorary Degree Candidates and Commencement Speakers |url=https://www.prnewswire.com/news-releases/entrepreneurial-leaders-named-2013-babson-honorary-degree-candidates-and-commencement-speakers-198122911.html |access-date=2023-04-07 |website=www.prnewswire.com |language=en}}
• Inc Magazine cover featured article, "How Great Entrepreneurs Think", 2011
• [https://www.darden.virginia.edu/sites/default/files/inline-files/CV-Sarasvathy-February2023.pdf 6 Best Paper Awards from leading international conferences]
• [https://www.darden.virginia.edu/sites/default/files/inline-files/CV-Sarasvathy-February2023.pdf Invited keynote speaker at 72 international conferences and events]

Sarasvathy, S. D.  2021.  2nd Edition. [https://www.amazon.com/Effectuation-Elements-Entrepreneurial-Expertise-Entrepreneurship/dp/1839102594/ref=sr_1_1?crid=2GES15SEOUATS&keywords=Effectuation%3A++Elements+of+Entrepreneurial+Expertise.&qid=1680907216&sprefix=effectuation+elements+of+entrepreneurial+expertise.%2Caps%2C53&sr=8-1 Effectuation:  Elements of Entrepreneurial Expertise.] Edward Elgar, New Horizons in Entrepreneurship Series.

Sarasvathy, S. D., Venkataraman, S., and Dew, N.  2020 [https://www.amazon.com/Shaping-Entrepreneurship-Research-Made-Found-ebook/dp/B087F34KXY/ref=sr_1_1?crid=DER4W68F3LC4&keywords=Shaping+Entrepreneurial+Research&qid=1680907252&sprefix=shaping+entrepreneurial+research%2Caps%2C64&sr=8-1 Shaping Entrepreneurship Research:  Made, as well as found.]  Oxford, UK: Routledge.

Read, S., Sarasvathy, S. D., Dew, N., and Wiltbank, R. 2016. 2nd Edition. [https://a.co/d/gJCb3qT Effectual Entrepreneurship 2nd Edition]. Oxford, UK: Routledge

Read, S., Sarasvathy, S. D., Dew, N., Wiltbank, R. and Ohlsson, A.V. 2011. [https://a.co/d/5wVT1vU Effectual Entrepreneurship]. Oxford, UK: Routledge (Translated into Portuguese, Dutch, French, Russian, Japanese and Chinese.  Won the gold medal in 2012 Axiom Business Book Awards){{Cite web |title=2012 Medalists |url=https://axiomawards.com/72/award-medalists/2012-medalists |access-date=2023-04-07 |website=axiomawards.com|date=31 October 2012 }}

Sarasvathy, S. D.  2008.  [https://a.co/d/20toJAc Effectuation:  Elements of Entrepreneurial Expertise]. Edward Elgar, New Horizons in Entrepreneurship Series. (Nominated for the 2009 Terry Book Award, Academy of Management and translated into Chinese, Japanese and Russian)

1. Sarasvathy, S. D. (2001). [https://22657557.fs1.hubspotusercontent-na1.net/hubfs/22657557/Journal%20Articles/2016/06/amr01-inevitability-to-contingency-1.pdf Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency.] Academy of management Review, 26(2), 243–263.
2. Dew, N., Read, S., Sarasvathy, S. D., & Wiltbank, R. (2009). [https://www.sciencedirect.com/science/article/abs/pii/S088390260800027X Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices.] Journal of business venturing, 24(4), 287–309.
3. Wiltbank, R., Dew, N., Read, S., & Sarasvathy, S. D. (2006). [https://onlinelibrary.wiley.com/doi/10.1002/smj.555 What to do next? The case for non-predictive strategy.] Strategic management journal, 27(10), 981–998.
4. Sarasvathy, S. D., & Dew, N. (2005). [https://www.researchgate.net/publication/24058071_New_Market_Creation_Through_Transformation New market creation through transformation.]Journal of evolutionary economics, 15, 533–565.
5. Read, S., Dew, N., Sarasvathy, S. D., Song, M., & Wiltbank, R. (2009). [https://journals.sagepub.com/doi/10.1509/jmkg.73.3.001 Marketing Under Uncertainty: The Logic of an Effectual Approach.] Journal of marketing, 73(3), 1–18.

Source: Retrieved from Scopus{{Cite web |title=Scopus preview - Sarasvathy, Saras D. - Author details - Scopus |url=https://www.scopus.com/authid/detail.uri?authorId=6506551527 |access-date=2023-04-07 |website=www.scopus.com}}

1. Sarasvathy, S., & Botha, H. (2022). [https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/nejo.12385 Bringing People to the Table in New Ventures: An Effectual Approach]. Negotiation Journal, 38(1), 11–34.
2. Sarasvathy, S. D. (2021). [https://journals.sagepub.com/doi/10.1177/10422587211015983 The Middle Class of Business: Endurance as a Dependent Variable in Entrepreneurship]. Entrepreneurship Theory and Practice, 45(5), 1054–1082.
3. Mauer, R., Nieschke, S., & Sarasvathy, S. D. (2021). [https://www.tandfonline.com/doi/full/10.1080/00472778.2021.2002877 Gestation in new technology ventures: Causal brakes and effectual pedals.] Journal of Small Business Management, 1-36.
4. Sarasvathy, S. D. (2022). [https://link.springer.com/chapter/10.1007/978-3-030-94273-1_3 An Effectual Analysis of Markets and States.] Questioning the Entrepreneurial State, 37.
5. Chowdhury, R., Sarasvathy, S. D., & Freeman, R. E. (2022). [https://www.cambridge.org/core/journals/business-ethics-quarterly/article/toward-a-theory-of-marginalized-stakeholdercentric-entrepreneurship/5FFE0C130A5CBBB1957BA714D5E36BE6 Toward a Theory of Marginalized Stakeholder-Centric Entrepreneurship.] Business Ethics Quarterly, 1-34.

Source: Retrieved from Scopus

Category:Carnegie Mellon University alumni

Category:1959 births

Category:Living people