Presentation for HEA-funded workshop 'Effectual thinking in entrepreneurship education'
The workshop disseminated findings and the learning smartphone app for promoting effectual enterprise learning. Participants explored about how to incorporate more effectual approaches into teaching entrepreneurship and enterprise.
This presentation forms part of a blog post which can be accessed via: http://bit.ly/1aIAyaW
For further details of HEA Social Sciences work relating to active and experiential learning please see: http://bit.ly/17NwgKX
Innovation is the glue between invention and investment, and transforms ideas into businesses. The process of innovation shapes your idea into something people will value and ultimately purchase.
The innovation process cycles through 4 key steps:
1) Ideas and Solutions
2) Business propositions
3) Business feasibility
4) Business planning
10 Most Common Myths about EntrepreneushipMara Mentor
Every entrepreneur needs to be true and honest about their startup route, their skills and ability, as well as their strengths and weaknesses.
Entrepreneurs are known to be risk takers, but for the average entrepreneur themselves, they believe non-entrepreneurs are the most risk-aversive people. According to them the safest path is to take control of their own lives, to construct their own world, and not be dependent on anyone. There is something about their stories which makes people uncomfortable.
An economy that supports entrepreneurship, weakens the profession by wrapping it in destructive myths. A great number of social and cultural myths have been formed around the idea of what it really takes to be an entrepreneur.
Innovation is the glue between invention and investment, and transforms ideas into businesses. The process of innovation shapes your idea into something people will value and ultimately purchase.
The innovation process cycles through 4 key steps:
1) Ideas and Solutions
2) Business propositions
3) Business feasibility
4) Business planning
10 Most Common Myths about EntrepreneushipMara Mentor
Every entrepreneur needs to be true and honest about their startup route, their skills and ability, as well as their strengths and weaknesses.
Entrepreneurs are known to be risk takers, but for the average entrepreneur themselves, they believe non-entrepreneurs are the most risk-aversive people. According to them the safest path is to take control of their own lives, to construct their own world, and not be dependent on anyone. There is something about their stories which makes people uncomfortable.
An economy that supports entrepreneurship, weakens the profession by wrapping it in destructive myths. A great number of social and cultural myths have been formed around the idea of what it really takes to be an entrepreneur.
To begin our exploration of entrepreneurship and the environment
To distinguish between business and social entrepreneurs
To distinguish between entrepreneurs and small-business owners
To explain the importance of entrepreneurs for economic growth
To examine the historical development of entrepreneurs and of entrepreneurship
To define entrepreneurship and explore the major schools of entrepreneurial thought
To realise that entrepreneurship is a pathway to freedom
Trading Entrepreneur - In types of EntrepreneursHSE Guru
Types of Entrepreneurs
Merits and De Merits of Entrepreneurship
Examples of Trading Entrepreneurs
Paytm Start UP
Bill Gates Microsoft
Walt Disney Star Network
What is an innovation?
Why the case for innovation is even stronger today?
Product innovation
Explain why some product innovations are unsuccessful.
Examine the process of product innovation.
New Product Development (NPD) framework.
Evaluate the merits of NPD framework.
Why some innovations are popular/unpopular?
To describe the major pathways that may lead to entrepreneurial ventures
To examine bootstrapping and minipreneurship as fast lanes to gaining entrepreneurial experience
To identify and discuss what is involved in acquiring an established venture that already has some entrepreneurial momentum
To outline key questions to ask when buying an ongoing venture that is already generating value
To define a franchise and outline its structure
To examine the benefits and drawbacks of franchising
To look at the route social entrepreneurs take to creating new ventures
Presentation for HEA-funded workshop 'Effectual thinking in entrepreneurship education'
The workshop disseminated findings and the learning smartphone app for promoting effectual enterprise learning. Participants explored about how to incorporate more effectual approaches into teaching entrepreneurship and enterprise.
This presentation forms part of a blog post which can be accessed via: http://bit.ly/1aIAyaW
For further details of HEA Social Sciences work relating to active and experiential learning please see: http://bit.ly/17NwgKX
To begin our exploration of entrepreneurship and the environment
To distinguish between business and social entrepreneurs
To distinguish between entrepreneurs and small-business owners
To explain the importance of entrepreneurs for economic growth
To examine the historical development of entrepreneurs and of entrepreneurship
To define entrepreneurship and explore the major schools of entrepreneurial thought
To realise that entrepreneurship is a pathway to freedom
Trading Entrepreneur - In types of EntrepreneursHSE Guru
Types of Entrepreneurs
Merits and De Merits of Entrepreneurship
Examples of Trading Entrepreneurs
Paytm Start UP
Bill Gates Microsoft
Walt Disney Star Network
What is an innovation?
Why the case for innovation is even stronger today?
Product innovation
Explain why some product innovations are unsuccessful.
Examine the process of product innovation.
New Product Development (NPD) framework.
Evaluate the merits of NPD framework.
Why some innovations are popular/unpopular?
To describe the major pathways that may lead to entrepreneurial ventures
To examine bootstrapping and minipreneurship as fast lanes to gaining entrepreneurial experience
To identify and discuss what is involved in acquiring an established venture that already has some entrepreneurial momentum
To outline key questions to ask when buying an ongoing venture that is already generating value
To define a franchise and outline its structure
To examine the benefits and drawbacks of franchising
To look at the route social entrepreneurs take to creating new ventures
Presentation for HEA-funded workshop 'Effectual thinking in entrepreneurship education'
The workshop disseminated findings and the learning smartphone app for promoting effectual enterprise learning. Participants explored about how to incorporate more effectual approaches into teaching entrepreneurship and enterprise.
This presentation forms part of a blog post which can be accessed via: http://bit.ly/1aIAyaW
For further details of HEA Social Sciences work relating to active and experiential learning please see: http://bit.ly/17NwgKX
A brief introduction to the Entrepreneurial Mindset and how it is different from the traditional mindset taught to students of traditional business or management programs. I deliver regular courses based on these concepts, and regularly help aspiring and experienced entrepreneurs to put these principles to use in the process of creating new ventures.
This is a draft of the presentation that will be given at the HEA Social Sciences annual conference - Teaching forward: the future of the Social Sciences.
For further details of the conference: http://bit.ly/1cRDx0p
Bookings open until 14 May 2014 http://bit.ly/1hzCMLR or external.events@heacademy.ac.uk
ABSTRACT
Although there is much potential for students, and other interested parties, to explore the attitudes,
opinions and circumstances of various individuals and groups in the datasets provided by UK Data Service,
uptake remains limited. This paper details the results of a HEA funded project that aimed to engage
students with quantitative techniques through the development of a series of student-led workbooks,
worksheets, and associated teaching strategies. The paper considers some of the difficulties of adopting an
‘Inquiry-Based Learning’ (IBL) approach within the context of communicating quantitative research and
outlines some considerations for others wishing to adopt a more narrative and iterative approach to the
teaching of quantitative methods in the social sciences.
Being on Twitter will allow you to build your profile, build credibility and show your personality…all of which will allow you to build better relationships…which will help develop “top of mind” in your potential customers…which will lead to sales when they are ready to buy.
Entrepreneurs Should Be Networking Right NowAbhishek Shah
Entrepreneurs like to spend their time thinking about new products and their grandiose vision.
But though these are key drivers for any startup, there's another task that's of the utmost importance : NETWORKING
In diesem Webinar für Medizinstudenten und Ärzte zeigt Ihnen die Autorin und Expertin in wissenschaftlichem Schreiben Barbara Budrich, wie Sie schrittweise eine Gliederung erstellen, die passende Literatur recherchieren und wie Sie einen wissenschaftlichen Text verfassen.
What is the networking strategy for your business? Is your networking objective business development, investor relations or market research? Which networking tactics will help you find investors, customers and partners, or validate ideas? How much of your precious time and money should you commit to networking at trade shows, business groups, hackathons, pub nights and on social media? What are realistic benchmarks for a successful networking experience?
This lecture focuses on building and leveraging a network of mutually beneficial relationships applicable to any technology-based business. Get tips for breaking the ice, making good impressions and getting introductions to the people you need on your side.
Die digitale Transformation zu managen ist die große Herausforderung von heute. Allzu oft befassen sich Digitalisierungsprojekte zu sehr mit der Technologie.
Unser Ansatz zur wirkungsvollen und nachhaltigen Digitalisierung ist die Entwicklung der kulturellen, sozialen
und natürlich auch technischen Subsysteme von Organisationen.
17 FROM 17: THE BEST BUSINESS BOOKS OF 2017Kevin Duncan
This year's highlights of the popular blog greatesthitsblog.com.
Author and business advisor Kevin Duncan reads business books extensively and summarises them so you don't have to.
One of the most inspiring books of the last few years. And it is so true, that only with a clear WHY, you can actually make a difference.
The document is an abstract of the book Start with WHY from Simon Sinek. You should however absolutely read the book, which contains a lot of appealing cases.
Unit 1- Introduction to Entrepreneurship (BOCS,BOET-505D).pdfShikhaAeron2
Course Content:
Unit I: Introduction to Entrepreneurship: Entrepreneurs; entrepreneurial personality and intentions, characteristics, traits and behavioral; entrepreneurial challenges.
Learn how you can make a real difference by using your professional skills. We show you how through our webinar and Practical Microfinance Course in London. Limited time early bird offer until October for both courses starting now and in Feb 2013.
Description:
Responsive. Lean. Teal. Holacracy. Sociocracy. All of these terms can be used to describe a movement that is currently underway, which seeks to fundamentally transform the way people work together. In much the same way that Agile updated our approach to software development, we now look to update the operating system of the entire organization. In this conversation, we will discuss trends in organizational design and share practical, “safe to try” techniques you can take back and apply to any part of your organization.
Speaker Bio:
Chelsea is a people operations leader and organizational designer. She is fascinated by reimagining the way people work together and designing organizations for the 21st century. As a Master’s candidate at Northwestern University, Chelsea researches next-stage organizational structures with a particular interest in self-management. She has spent her career working in technology, both enterprise and startup, with a personal passion for fixing the broken and the outdated. In her free time, you can find Chelsea hiking, biking or baking bread.
Murdoch University Master Class - EntrepreneurshipAtte Miettinen
This is a presentation I did on 12.11.2012 at Murdoch University Dubai's Master Class event on Entrepreneurship, highlighting the similaries in successfully scaling mountains and starting businesses.
Mapping the Mind explains the concept of stance, tools and experience as discussed by the co-founder and former CEO of Red Hat, Bob Young. The Dynamics of personal Knowledge System is also discussed. Mapping the Mind is a Welingkar’s Distance Learning Division presentation.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideShareIntMang
Join us on Facebook: http://www.facebook.com/welearnindia
Follow us on Twitter: https://twitter.com/WeLearnIndia
Read our latest blog at: http://welearnindia.wordpress.com
Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLP
Another list of useful resources for initial teacher education, created by UK teacher educators with support from the HEA. The lists have been maintained by Kathy Wright.
In 2012 the Higher Education Academy worked with teacher educators from across the UK to curate a list of useful resources in this area. Kathy Wright has maintained and updated this list.
The 'live' version of my talk at the HE and FE Show 2015 in London, introducing the Higher Education Academy's Framework for student engagement through partnership. https://www.heacademy.ac.uk/frameworks-toolkits/frameworks Here I used Haiku Deck to create a presentation with images as backgrounds to slides.
Another version is available here: http://bit.ly/1VPlQpj which includes more text.
Slides to support short presentation by Kathy Wright at the 2015 HE and FE Show in London on 14 October. The presentation is taken from previous keynotes by Dr Abbi Flint of the Higher Education Academy.
This report contains the preliminary findings from a research project that aimed to explore:
• What is the current practice around teaching social science research methods to undergraduate medical students in the UK: what is being taught, how are teaching and learning organised within the curriculum, how is content is delivered, to and by whom and how is student learning assessed?
• And, what are the challenges and opportunities around developing this teaching and learning practice and the curriculum and policy contexts that frame it?
This workshop was held as part of the HEA Enhancement Event 'Technology enhanced learning: What can we learn from MOOCs?'. The presentation forms part of a blog post about this workshop which can be accessed via: http://bit.ly/1AbOtCA
For further details of the enhancement event, please see: https://www.heacademy.ac.uk/events-conferences/event10203
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1wVOUxf
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1wVOUxf
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1wVOUxf
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1wVOUxf
This presentation is linked to a workshop presented at the HEA Enhancement event 'Ways of knowing, ways of learning: innovation in pedagogy for graduate success'. The blog post that accompanies this presentation can be accessed via http://bit.ly/13zCShG
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via
This presentation is linked to a workshop presented at the HEA Enhancement event 'Ways of knowing, ways of learning: innovation in pedagogy for graduate success'. The blog post that accompanies this presentation can be accessed via http://bit.ly/1yYJket
This presentation is linked to a workshop presented at the HEA Enhancement event 'The full picture: the journey from listening to partnership in student engagement'. The blog post that accompanies this presentation can be accessed via http://bit.ly/129riIW
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
4. Teaching entrepreneurship
• Are entrepreneurs born or made?
• Can entrepreneurship be taught? Or does
education suppress entrepreneurial tendencies?
• Courses have focused on:
– 1) orientation and awareness;
– 2) new enterprise creation; and
– 3) small business survival and growth.
5. In UK HEIs
• Late 1970s – adoption of entrepreneurship
education
• 1980s – final year option for business school
students and postgrads
• 1990s – over half of all HEIs offering courses
and modules in new venture creation and small
business management
• Mid-2000s – entrepreneurship education
widespread
Source: Hannon (2007)
6. Business plans
• Studying entrepreneurship is not just about
starting businesses (Gibb, 1996)
• Business plan still dominant
• Debates about the usefulness of business plans
7. What are we aiming for?
• Aim is that students become more enterprising /
entrepreneurial
• Develop a portfolio for learning and teaching
• Neck and Greene (2010) propose teaching
entrepreneurship using a portfolio of practicebased pedagogies, as opposed to a single or
static approach
8. The role of research
• Karlsson and Moberg (2013) contend that
curricula are often dated and not informed by
current entrepreneurship research
• Research helpful in better understanding
entrepreneurial learning and the development of
entrepreneurial competences, as well as how to
incorporate new theories (Fisher 2012;
Fayolle, 2013).
10. Who‘s who
• Too many people and too little time
• Need to get to know other people and
make new connections
• You need to make the effort but we will
give you a kick-start
11. What are your strengths
• On the paper provided list 5 strengths that
make you effective either at work, at home
or in life in general
• Think of examples of what you mean and
when you have used these skills
One of my skills is establishing partnerships. I
build and shape good teams by identifying
people who can work together…
12. Articulating Strengths
• Many times our strengths are in our area of
―unconscious competence‖ and seem natural
• Often we might not realise what all our
strengths are or even important.
Some people are very skilled at listening
and then asking insightful questions
• Knowing strengths can help a person – and
their team – make the most of it!
13. Speed networking
• Networking is important in all spheres of life
• Time is short so we need to do it quickly…
• Find people that you have not met before
• Introduce yourself, share your skills/assets and
explain why it is valuable
• Try to find out a memorable fact
15. Points for reflection
• What was it like sharing your strengths?
• What was it like listening to someone
describe his/her strengths?
• What is the value in knowing our own
strengths?
17. Entrepreneurial Conventions
Three big questions about entrepreneurship
1. A entrepreneurs born or made?
2. Are opportunities created or found?
3. What makes entrepreneurs different?
18. Dispelling Some Myths
Many myths around entrepreneurship
1. Entrepreneurs Are Introverted Loners
2. Entrepreneurs See Business Building As
A Path To Riches
3. Nothing Succeeds Like Success
4. Entrepreneurs Are Risk-taking
Gamblers.
5. With A Great Idea and
Enthusiasm, Anyone Can Achieve
Entrepreneurial Success.
19. Entrepreneurial Successes
• We see these entrepreneurs
as successful – but what is
success?!
• Why do we consider them so
successful – they did not set
out to achieve what they are
known for now.
• Are we looking at the right
thing?
21. Entrepreneurship as Rational
• This approach underlies much entrepreneurship
research (Foss & Klein, 2005; Sautet, 2002)
• Entrepreneurs thought to notice or discover a
tangible opportunity such as a new product or
venture
• To implement an entrepreneurial idea a normative
decision-making process is followed
• Involves gathering relevant information and
systematically evaluating alternatives before
choosing the optimal option
22. A Managerial Approach
Causal reasoning to achieve a given goal –
following pre-existing pathways
M1
M2
M3
M4
M5
GOAL
23. A Strategic Approach
Causal reasoning to achieve a given goal –
involves creating of new pathways
M1
M2
M3
M4
M5
GOAL
24. Effectual Approach
• Effectuation and considers entrepreneurship as a
series of decisions (Sarasvathy, 2001)
• Decision-making can be applied in uncertain settings
• Entrepreneurs imagine outcomes using these means
and move into action without elaborate planning
• All entrepreneurs begin with three types of means:
1.
Who they are – their traits, tastes and abilities;
2.
What they know – their education, training, expertise, and
experience;
3.
Whom they know – their social and professional networks.
25. An Entrepreneurial Approach
• Effectual reasoning - imagining new possibilities
using a given set of means
E1
M1
M2
M4
E2
M3
M5
E3
E4
E5
26. Effectual Reasoning
• Sarasvathy (2001) find effectual reasoning
offers an alternative to causal rationality
1. While causal reasoning focuses on expected
return, effectual reasoning emphasizes
affordable loss;
2. While causal reasoning depends upon
competitive analyses, effectual reasoning is built
upon strategic partnerships; and,
3. While causal reasoning urges the exploitation of
pre-existing knowledge and prediction, effectual
reasoning stresses the leveraging of
contingencies.
27. Theory of Effectuation
Expanding Resources
Who WE are
What WE know
Who WE know
NEW
MEANS
What can WE do?
(Affordable loss)
NEW
VENTURE
/ MARKET
CREATION
Interactions with
other people
Effectual
Stakeholder
Commitments
NEW
GOALS
29. Principles of Effectuation
• Bird in Hand Principle - Start with your
means rather than wait for the perfect
opportunity. Start taking action, based on
what you have readily available
• Affordable Loss Principle - Set
affordable losses and evaluate
opportunities based on whether the
downside is acceptable, rather than on
the attractiveness of the predicted upside.
30. Principles of Effectuation
• Crazy-Quilt Principle - Form
partnerships with people and
organizations willing to make a real
commitment to jointly creating the
future--product, firm, market--with you.
• Pilot the Plane – Take control and
remember that the future is in the
making and not predetermined
31. Principles of Effectuation
• Lemonade Principle - Leverage
contingencies Embrace surprises that
arise from uncertain
situations, remaining flexible rather than
tethered to existing goals.
33. Preparing Dinner
When you go to cook
dinner how do you cook?
1. Have a specific
menu, shop for the
ingredients, follow the
recipe
or
2. Have a look in the
fridge, see what‘s in date
and make dinner
accordingly
34. Cooking Dinner
• Both causal and effectual
approaches will get
dinner cooked
• Both for causal and
effectual approaches
demand skills and
training
• But…
36. U-Haul (example of effectuation)
• Discharged from the Navy in
1945 aged 29 Leonard
Shoen and his wife, Anna,
wanted to rent a van to move
their things from Los Angeles
to Portland Oregon
• No one at that time seemed
willing or able to serve that
need by renting a van oneway.
37. The U-Haul case
• Seeing Shoen and his wife started the U-Haul
company (with the help of $5,000 from the her
family).
• He painted his trailers bright orange with
advertising on the truck ―U-Haul Rental
Trailers, $2.00/day‖
38. The U-Haul case
• They were not an ―overnight success‖ and in the
beginning, they were broke and had to move in
with her parents.
• Shoen convinced friends, family, and customers
to make down payments and then lend him
money to buy his first trucks
• He contracted with service station outlets to help
sell the rentals
• He offered early customers a discount if they
established a U-Haul rental agent at their
destination!
39. The U-Haul example
• By 1949, they had already
built a coast-to-coast moving
service
• Today, the annual mileage of
North American U-Haul
trucks, trailers and tow
dollies would travel around
the Earth 194 times per
day, every day of the year
40. Effectuation and U-Haul
• Means: Shoen started with what he knew:
– He had his own needs (to rent a trailer one way) and
figured others would want to do the same
– He started with small amounts of cash.
• Attitudes towards others: Shoen partnered with
suppliers, investors, customers
• Risk, return: Affordable loss—
– Shoen didn‘t start with a big investment. He
improvised as he went along.
42. Going Global
• Lot of talk about ‗instant
international‘ and ‗born global‘
businesses
• Entrepreneurs do not follow
causal reasoning when
exploring international markets
• Despite limited experience
entrepreneurs are effectual at
internationalising
43. International Effectuation
• Evidence about entrepreneurs developing
international operations suggests:
– the entrepreneurs had a limited knowledge of
the international market,
– they did not know how to and did not prepare
an internationalisation plan
– the actions of entrepreneurs preceded the
collection of market information
• Internationalisation characterised by new
means, stakeholder commitment and new goals
45. Effectuation Successes
• These entrepreneurs are the
same as everyone else but
they are successful because
they are master effectuators
• These entrepreneurs simply
adopt a different approach to
problem solving – they
believed the future is shaped
by human action and they
shape it
50. Toolbox Content
• The ‘Toolbox’ contains some
additional background and
resources on effectuation
• Additional recommended
reading on effectuation
• General info about app
development team and
funder
• Standard terms of use
agreement
Editor's Notes
Hannon, P. (2007), “Enterprise for all? The fragility of enterprise provision across England’sHEIs”, Journal of Small Business and Enterprise Development, Vol. 14 No. 2, pp. 183-210
Neck, H. M., & Greene, P. G. (2011). Entrepreneurship education: known worlds and new frontiers. Journal of Small Business Management, 49(1), 55–70, 2010.
Fayolle, A. 2013. Personal views on the future ofentrepreneurship education. Entrepreneurship and Regional Development, forthcomingFisher, G. 2012. Effectuation, Causation and Bricolage: A Behavioral Comparison of EmergingTheories in Entrepreneurship Research. Entrepreneurship Theory & Practice 36 (5):1019–1051Karlsson, T. and Moberg, K. (2013) Improving perceived entrepreneurial abilities through education: Exploratory testing of an entrepreneurial self efficacy scale in a pre-post setting, The International Journal of Management Education 11 (1) 1–11