The document discusses the concept of effectuation, which are five principles that managers can learn from entrepreneurs to better cope with an unpredictable business environment. Effectuation offers insights into how expert entrepreneurs deal with uncertainty and provides managers with a means of gaining control without relying on predictions. It is not a recipe guaranteeing success but rather lessons and a framework adapted from how entrepreneurs approach decision making when facing unpredictability. The five principles of effectuation that managers should learn are also discussed.

1. Effectuation: 5 principles Managers should learn important lessons from entrepreneurs!

2. How managers can get a better grip on an unpredictable business environment…

3. A world changing at a breathtaking pace requires the utmost in strategic flexibility and action.

4. The future is unpredictable as changes have causes we didn’t include in our calculations, or haven’t ever even heard of.?

5. In this big complex jumble of connections, it’s essential that corporations find new ways of coping with the challenges and remaining successful.

6. … But how?

8. WITH

9. EFFECTUATION

10. EFFECTUWHAT??

11. EFFECTUATION

12. For over a decade now, my collaborators and I have been working on identifying the learnable and teachable elements of entrepreneurial expertise. Through all those years people have continued to ask me whether we can actually teach entrepreneurship at all. It may be time to put that question to rest and write a fitting epitaph: “Yes – entrepreneurship can be taught.”

13. Effectuation: 5 principles Managers can learn important lessons from entrepreneurs!

14. Until quite recentlyENTREPRENEURSHIPwas taught wrongfully at most universities and business schools( And some sleepyheads still haven’t adopted Effectuation theory…)

15. Peter F. Drucker was right when he said…

16. Effectuation: 5 principles Managers should learn from entrepreneurs

17. Effectuation: 5 principles Managers should learn from entrepreneursAnd now we finally know howexpert entrepreneurs doTHINK, DECIDE & ACT

18. Effectuation: 5 principles Managers should learn from entrepreneurs

19. Effectuation: 5 principles

20. 1: Bird in hand principle Managers should learn from entrepreneurs

21. 2: Affordable loss principle Managers should learn from entrepreneurs

22. 3: Crazy Quilt principle Managers should learn from entrepreneurs

23. 4: Lemonade principleManagers should learn from entrepreneurs

24. 5: Pilot in the plane principle Managers should learn from entrepreneurs

25. Effectuation: 5 principles Managers should learn from entrepreneurs

26. Effectuation: 5 principles Managers should learn from entrepreneursCorporate Entrepreneurshipis no longer a “contradictioin terminis”

27. Effectuation: 5 principles Managers should learn from entrepreneursCorporate EFFECTUATIONis a necessityin coping with an unpredictablebusiness environment

28. Effectuation: 5 principles Managers should learn important lessons from entrepreneurs!

29. EFFECTUATION

30. Effectuation: 5 principles Effectuation is NOTan inventionor thought of by a great mind

31. Effectuation: 5 principles Effectuation is also NOTa recipeguaranteeing success…

32. Effectuation: 5 principles Effectuation does offerCONTROLin an unpredictable Business environment

33. Effectuation: 5 principles Effectuation does offerINSIGHTShow expert entrepreneursdo cope with uncertainty

34. Effectuation: 5 principles And Effectuation research showsWe had it all wrong!

35. Effectuation: 5 principles Now you know!It’s up to you!

36. Effectuation: 5 principles Thomas Blekman is a partner of De Beukelaar Group, dean of Corsendonk College in Belgium (a business school specialized in Renew-all and a branch of De Beukelaar Group), as well as lecturer in Corporate Effectuation and Strategy at Rotterdam School of Management Erasmus University. In other words, he has one foot firmly in daily practice, and the other in solid science. According to Thomas, scientific knowledge can only be useful if it improves results in daily practice. Thomas inspires, facilitates and advises corporations that want to be more enterprising and innovating, and assists in implementing the best steps to effectuate that.thomasblekman@effectuation.nlMgtbk.nl/npz for the Dutch version of Corporate Effectuation