Effectuation as a entrepreneurial approach.

1. EFFECTUATION
WHAT IS EFFECTUATION ? බලපෑම් වාදය
Simply it is the act of implementing carrying into effect.
human action, human activity, act, deed - something that people do or cause to happen.
EFFECTUATION as a APPROACH?
In 2001, Dr. Saras Sarasvathy develop this as a successful entrepreneurial approach,
As per her it is a
1. thinking frame work,
2. a set of heuristics (අත්දැකීමෙන් විනිශ්චය කරන)
3. doing the do-able,
4. how to get the sellable products and services established
By buddhika Dananjaya

2. Five (05) Principles of Effectuation
1. Bird in hand
a. Who am I?
B. What I Know?
c. Whom I Know?
2.Affordable losses
Invest what you can afford to loss
3.Lemonade
Scenario planning (Best and Worst)
4.Patch work quilt
Partnerships with the selected stakeholder
5.Pilot in the plane
Co-Create the future
By buddhika Dananjaya