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Effectual  Thinking
The reasonable man adapts himself to the world. The unreasonable one persists in trying to adapt the world to himself.  Therefore all progress depends on the unreasonable man. (Bernard Shawn 1934)
Causal reasoning Managerial thinking M 1 M 2 M 3 M 4 M 5 GIVEN GOAL
Effectual reasoning Entrepreneurial thinking M 1 M 2 M 3 M 4 M 5 E 1 E 2 E 3 E 4 E 5
How do I become a successful  entrepreneur?
Given who I am what I know and whom I know,  what kind of entrepreneur could I become,  what kind of entrepreneurial activities could I pursue,  what kind of enterprise could I create?
Bird-in-hand  principle
Affordable  loss   principle
Strategic partnership principle
Ready-Fire-Aim principle  or the  leveraging contingencies
Pilot-in-the plane  principle or  nonpredictive control
This project has been funded with support from the European Union. This presentation reflects the views only of the author, and the European Commission and cannot be held responsible for any use which may made of information contained therein.

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Effectual thinking

Editor's Notes

  1. Causual reasoning is selecting between given means to achieve a pre-determined goal. Might include generating new means - strategic thinking.
  2. Imagine possible new ends using a given set of means.
  3. The birds are symbolic of opportunities that come our way - we need a keen eye to spot them, a thankful heart when they happen, and keep the feet on the ground always.