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Effectuation Entrepreneurship
   Framework for entrepreneurial thinking   Common way of problem solving used by    expert entrepreneurs   Idea   Sen...
   Developed by Saras Sarasvathy (University of    Virginia Darden Graduate School of Business   Research   Gave expert...
Expert Entrepreneurs…   Limit risks by understanding what they can    afford to loose   Create their own market opportun...
   Effectual thinking can be taught   Failure increases the odds of individual    success   Entrepreneurial thinking ca...
   Causal thinking = Managerial thinking     Choosing the best means to achieve a goal   Effectual thinking = Entrepren...
   Bird in the hand principle     Who I am     What I know     Whom I know     Start with your means; don’t wait for ...
   Affordable loss principle     Set affordable loss     What is my threshold?     Evaluate opportunities based on whe...
   Lemonade principle     Embrace surprises that come from uncertainties     Be flexible     Don’t be tied down to you...
   Crazy quilt principle     Build partnerships with people, industries and     How do I go about lack of strategic pla...
   Pilot in the plane principle     Focus on activities within your control     Control vs. predict     Believes that ...
 http://www.effectualentrepreneurship.com/effectuation-  introduction/ www.google.com.ph/url?sa=t&rct=j&q=&esrc=s&source...
Effectuation entrepreneurship
Effectuation entrepreneurship
Effectuation entrepreneurship
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Effectuation entrepreneurship

Effectuation Entrepreneurship report of Anthony Pantoja for ENTREP

Effectuation entrepreneurship

  1. 1. Effectuation Entrepreneurship
  2. 2.  Framework for entrepreneurial thinking Common way of problem solving used by expert entrepreneurs Idea Sense of purpose
  3. 3.  Developed by Saras Sarasvathy (University of Virginia Darden Graduate School of Business Research Gave expert entrepreneurs a problem set Wide array of participants from ice cream to steel Responses were documented (video taped and transcribed)
  4. 4. Expert Entrepreneurs… Limit risks by understanding what they can afford to loose Create their own market opportunity Trust people
  5. 5.  Effectual thinking can be taught Failure increases the odds of individual success Entrepreneurial thinking can be taught
  6. 6.  Causal thinking = Managerial thinking  Choosing the best means to achieve a goal Effectual thinking = Entrepreneurial thinking  Imagining possible new ends using a given set of means
  7. 7.  Bird in the hand principle  Who I am  What I know  Whom I know  Start with your means; don’t wait for the perfect opportunity
  8. 8.  Affordable loss principle  Set affordable loss  What is my threshold?  Evaluate opportunities based on whether the downside is acceptable
  9. 9.  Lemonade principle  Embrace surprises that come from uncertainties  Be flexible  Don’t be tied down to your goals – ADJUST  Have a back up plan
  10. 10.  Crazy quilt principle  Build partnerships with people, industries and  How do I go about lack of strategic planning, uncertainties, and problems?
  11. 11.  Pilot in the plane principle  Focus on activities within your control  Control vs. predict  Believes that the future is neither found nor predicted  The future is made
  12. 12.  http://www.effectualentrepreneurship.com/effectuation- introduction/ www.google.com.ph/url?sa=t&rct=j&q=&esrc=s&source=web&cd =1&sqi=2&ved=0CFEQFjAA&url=http://www.reebrasil.org.br/asse ts/files/materiais/SarasSarasvathy_Teaching- Effectation.pdf&ei=g4nBT9isIKetiQfkhemZCg&usg=AFQjCNEyld YfpIIwXV8_HBJkNwSEGvSPDw&sig2=5tbYw3WGEgeaOXd5e7MT Lw http://www.google.com.ph/url?sa=t&rct=j&q=&esrc=s&source=we b&cd=2&ved=0CFIQFjAB&url=http%3A%2F%2Ffaculty.darden.vir ginia.edu%2FSarasvathyS%2Fdocuments%2F0_Own%2520Notes %2FBird%2520in%2520hand.doc&ei=0ZHBT_jXLsOtiAfv1aSNCg &usg=AFQjCNElrHBwnPnQK6c2LjvOGcA_yfnycQ&sig2=tvGo7Ipb jYlnTRpab3KOlA

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