University of Virginia
Saras Sarasvathy and Martin Andersson, chairman of the Prize Committee, after receiving the Prize, IVA, Stockholm May 2022.
For pathbreaking research on entrepreneurial decision making and the entrepreneurial process.
Motivation
Professor Saras Sarasvathy’s research has fundamentally changed and invigorated the conversation in the domain of entrepreneurship research. Her work on effectuation emphasizes how entrepreneurs operate based on available resources, think in terms of affordable loss rather than profit maximization, leverage trustworthy partnerships, and treat unforeseen contingencies as opportunities rather than problems. It has led and inspired a new generation of researchers in the quest for a better understanding of how entrepreneurs make their decisions and the unfolding of the entrepreneurial process.
Professor Sarasvathy’s outstanding contribution has also offered practicing entrepreneurs a perspective that resonates with and enlightens their experiences. At the same time, she has given the academic community a novel tool popular for explaining and teaching entrepreneurship.
In her work, Professor Sarasvathy has managed to build on a long and well-established stream of research on decision making, yet given it a unique expression in the context of entrepreneurial decision making. In that context, controlling rather than predicting the future and goal ambiguity play a central role in the entrepreneur’s deliberations in the new venture creation process. Her conceptual framework for understanding entrepreneurial decision-making has reached well beyond the boundaries of entrepreneurship research, including the domains of marketing, strategy, and international business. In that capacity, it is a prime example of how entrepreneurship scholars can contribute to the development of neighboring domains of research. As an originator, driving force, and ambassador for entrepreneurship research, Professor Sarasvathy embodies all of those qualities instrumental for maintaining entrepreneurship as a vigorous, impactful, and practically relevant domain of research.
You can listen to a podcast with Saras Sarasvathy here.
See a summary from the 2022 Award Ceremony.
Titles, dates and places given above refer to the time of the Award.
Documents
Saras D. Sarasvathy Presentation Article.pdf
Saras D. Sarasvathy Biography.pdf
Saras D. Sarasvathy Prize Lecture.pdf
Photo Gallery
Saras Sarasvathy before receiving the Prize, IVA, Stockholm May 2022.
Saras Sarasvathy giving her Prize lecture, IVA, Stockholm May 2022.