Offered By

Effectuation: Lessons From Expert Entrepreneurs

University of Virginia

About this Course

4,894 recent views

Have you ever wondered what it would be like to be an entrepreneur? To start new ventures, build and grow them, be your own boss, create good jobs for other people, make money, and change the world for the better? Do you dream about becoming an entrepreneur but worry that it may be too difficult, require more resources than you have, or involve too much responsibility? Do you fear you don’t have what it takes, or that you might fail not just once, but over and over again?  
In this course, developed at the University of Virginia Darden School of Business and taught by Saras Sarasvathy (Paul M. Hammaker Professor in Business Administration), you will learn how effectual entrepreneurship helps overcome four obstacles people commonly face when they think about becoming an entrepreneur. We will not be going into the nitty gritty details of starting a new venture. Instead, we will explore the lived experiences of entrepreneurs around the world--people who have built for-profit, non-profit, and other kinds of ventures. You will learn from these expert entrepreneurs how to think and act effectually, co-create new possibilities from things already within your control, and tackle uncertainty without having to predict the future.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Beginner Level

No prior experience needed to participate in and benefit from this course.

Approx. 15 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

What you will learn

Lessons from expert entrepreneurs
A deep understanding of uncertainty
Real-life examples of new venture creation

Skills you will gain

Persuasive communication
Cocreation
Effectual Reasoning
Idea Generation
Failure management

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Beginner Level

No prior experience needed to participate in and benefit from this course.

Approx. 15 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Saras Sarasvathy

Paul M. Hammaker Professor in Business Administration

University of Virginia Darden School of Business

1,049 Learners

1 Course

Offered by

University of Virginia

A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.

See how employees at top companies are mastering in-demand skills

Learn more about Coursera for Business

Syllabus - What you will learn from this course

Week1

Week 1

3 hours to complete

I Don't Have an Idea

Welcome! In this course, you will see and hear from entrepreneurs and entrepreneurship educators as you explore four obstacles people commonly face when they think about starting a venture. You will learn the lessons that expert entrepreneurs have gained through their experiences building successful ventures. This week, you’ll explore the first obstacle people often face—how to get an idea—and learn about the five principles of effectuation. Then you’ll begin to identify your own bird-in-hand and use that to come up with ventures you could build.

3 hours to complete

10 videos (Total 39 min), 4 readings, 3 quizzes

10 videos

Welcome to Effectuation: Lessons from Expert Entrepreneurs1mCourse Introduction7mIntroduction to Week 148sIntroduction to Effectuation7mPrinciples of Effectuation2mWeek 1 Story6mBird-in-Hand Principle4mMeans Driven vs. Goal Driven4mWeek 1 Action Assignment2mWeek 1 Conclusion1m

4 readings

Course Overview & Requirements5mOpportunities for Further Study5mResource | The Five Principles of Effectuation1mWeek 1 Action Assignment Checklist15m

3 practice exercises

Lesson 1: Practice Quiz30mLesson 2: Practice Quiz30mWeek 1: Final Quiz30m

Week2

Week 2

3 hours to complete

I Don't Have Resources

Early entrepreneurs often feel that they don’t have enough resources. This week you will learn not only about resources but the beginnings of productive relationships as you explore the next two principles of effectuation. Affordable Loss is about keeping the downside within your control so you are free to push the upside up. YOU get to choose whether and how much you are willing to lose. The Crazy Quilt principle is about bringing on self-selected stakeholders who will help increase your affordable loss and open up new upside possibilities.

3 hours to complete

9 videos (Total 44 min), 2 readings, 3 quizzes

9 videos

Introduction to Week 21mAffordable Loss Principle9mAffordable Loss and Opportunity Cost3mWhere Do Ventures NOT Get Their Funding?4mCrazy Quilt Principle6mThe Effectual Ask8mWeek 2 Story5mWeek 2 Action Assignment2mWeek 2 Conclusion1m

2 readings

Art of the Effectual Ask30mWeek 2 Action Assignment Checklist15m

3 practice exercises

Lesson 1: Practice Quiz30mLesson 2: Practice Quiz30mWeek 2: Final Quiz30m

Week3

Week 3

3 hours to complete

I'm Afraid to Fail

3 hours to complete

8 videos (Total 38 min), 1 reading, 3 quizzes

Week4

Week 4

6 hours to complete

I Don't Know What to Do

In situations of uncertainty, the five principles of effectuation can be applied individually, all together, or mixed and matched in various ways. You can even combine them with causal approaches. By looking at the early histories of most enduring ventures, we can see the principles coming together into an iterative process: an effectual cycle. You’ll end the course with a strong understanding of what expert entrepreneurs do as they start ventures.

6 hours to complete

9 videos (Total 42 min), 3 readings, 4 quizzes

9 videos

Introduction to Week 41mNavigating the Prediction-Control Space5mWeek 4 Story7mThe Effectual Process6mThe Effectual Cycle3mThe Entrepreneurial Method10mWeek 4 Action Assignment1mWeek 4 Conclusion2mCourse Conclusion2m

3 readings

Resource | The Effectual Process5m"Ought" to "Can": Questions for an Entrepreneurial Future30mWeek 4 Action Assignment Checklist15m

3 practice exercises

Lesson 1: Practice Quiz30mLesson 2: Practice Quiz30mWeek 4: Final Quiz30m

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

Build employee skills, drive business results

Discover Coursera for Business

Effectuation: Lessons From Expert Entrepreneurs

Effectuation: Lessons From Expert Entrepreneurs

About this Course

What you will learn

Skills you will gain