Business Case Studies & Business Publications

Cold Opportunity (A): The Nils Bergqvist...

Sarasvathy, Saras ...

Case

Cold Opportunity (A): The Nils Bergqvist Story

Sarasvathy, Saras D.; Aronsson, Magnus

ENT-0119 | Published July 30, 2009 | 4 Pages Case

Collection: Darden School of Business

Product Details

Suitable for MBA and executive learners, this case series (of which this case is the first) presents a narrative that prompts students to discuss entrepreneurial thinking. An entrepreneur who loves his native Swedish Lapland uses his natural gift for effectuation to ask "What?" "What next?" and "What now?" As the entrepreneur's ventures evolve, students will decide how they would master similar challenges to their own entrepreneurial plans and expectations. This A case can be taught in either one or two sessions of a 90-minute MBA course, a four-hour executive-education class, or any undergraduate or graduate course exploring entrepreneurship, effectual entrepreneurship, strategy, stakeholder management, and crisis management. This case is also ideal for use as part of the "Good-to-Go Effectual Entrepreneurship" program, the details of which are available in one of the teaching notes for this case, “Good-to-Go Effectual Entrepreneurship: Educator’s Guide” (UVA-ENT-0119TN3), authored by Jim Zuffoletti and Saras Sarasvathy. The program is designed to help students understand effectual thinking; to apply the causal, adaptive, visionary, and effectual (CAVE) framework to their decisions; and to understand expert entrepreneurs. UVA-ENT-0119TN2, one of the teaching notes that supports this case, details how to teach this case with an emphasis on the CAVE framework, including as part of the “Good-to-Go Effectual Entrepreneurship” program.

1. Understand and apply the principles of effectuation 2. Identify options for navigating the twists and turns an entrepreneur encounters along their journey 3. Identify unusual cocreation opportunities 4. Understand the distinctions among risk, uncertainty, and true uncertainty and how entrepreneurs and managers face all three circumstances when making decisions 5. Learn about the CAVE framework and the prediction-control (PC) space, including the concepts of prediction and control as theorized by Saras Sarasvathy 6. Study the principles of effectuation, particularly the Lemonade Principle, which explores how contingencies can be transformed into resources 7. Learn how to construct a response to a crisis from a stakeholder-driven perspective