Effectuation Stories

          Case studies, lessons and stories about Effectuation!

          Prof. Saras Sarasvathy Honored with the 2025 Schumpeter School Prize

          We are delighted to share that Darden Prof. Saras Sarasvathy, founder of Effectuation theory and the Paul M. Hammaker Chair of Business Administration at the Darden School of Business, University of Virginia, has been awarded the 2025 Schumpeter School Prize by the Schumpeter School of Business and Economics at the University of Wuppertal in Germany. This biennial prize recognizes outstanding theoretical and empirical contributions to innovation and entrepreneurship research—a fitting tribute to Prof. Sarasvathy’s pioneering work in shifting the field from models of economic inevitability to frameworks of entrepreneurial contingency .

          Prof. Sarasvathy was honored for her groundbreaking 2001 article “Causation and Effectuation: Toward a Theoretical Shift from Economic Inevitability to Entrepreneurial Contingency,” one of the most cited works in entrepreneurship literature. Her effectuation framework, which emphasizes leveraging available means, forming partnerships, and embracing flexibility in the face of uncertainty, has reshaped both academic inquiry and practical pedagogy in entrepreneurship.

          The festivities on 13 June began with a scholarly workshop, where leading researchers from Germany and abroad presented papers building on Prof. Sarasvathy’s insights. In the afternoon ceremony, remarks were offered by Prof. Dr. Birgitta Wolff (Rector, University of Wuppertal), Prof. Dr. Nils Crasselt (Dean of the Schumpeter School), and Prof. Dr. Peter Witt (Chairman, Schumpeter School Foundation). Prof. Dr. Christine Volkmann delivered the laudatory address before Prof. Sarasvathy herself illustrated her theory’s core principles through real-world examples. Over 90 distinguished guests—including Axel Jütz, Chairman of Stadtsparkasse Wuppertal and prize benefactor—celebrated this momentous occasion.

          Prof. Sarasvathy’s academic achievements span more than 60 peer-reviewed articles and eight books. Her earlier

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          Effectuation goes to the Comics!

          The passion for scholars and educators in Japan for Effectuation and Young Adults has resulted in...

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          Entrepreneurship and the Plunge Decision

          MoonlightingTom Fatjo was an accountant in Houston in 1967 when a meeting in his community...

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          Effectuation 2024 - A Reflection

          At the #effectuation conference in #Nantes, France on Nov 12th and 13th, I had the opportunity to...

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          Effectuation 2024 in Nantes - Reflections from Saras

          Nantes was absolutely wonderful. As always, the effectuation conference (and the effectual dinner)...

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          Let the Music Speak - The Effectual Story of the Compact Disc

          Quick trivia question: What was the first audio title pressed onto CD? Answer: ABBA's "The...

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          RethinQ Entrepreneurship: Reimagining the Future of Entrepreneurship in Malaysia

          Rethinq Entrepreneurship : Building Effectual Entrepreneurs. Building Enduring Ventures in Malaysia.

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          Effectuation 2024 - Nantes - Recap

          This year, I attended the Effectuation Conference 2024 in Nantes, France. I am a beginner and I...

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          Enter a Door to the Future - Manga Effectuation!

          The passion for scholars and educators in Japan for Effectuation and Young Adults has resulted in...

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