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  2. Effectuation principles are a set of guidelines for entrepreneurial decision making based on the available means, the downside risk, the contingencies, the partnerships, and the future control12.Examples of effectuation principles are12:
    • Bird-in-hand principle: Starting a business with your existing skills, knowledge, and network.
    • Affordable-loss principle: Investing only what you can afford to lose in a venture.
    • Lemonade principle: Turning unexpected events or problems into opportunities for innovation.
    • Patchwork-quilt principle: Collaborating with other stakeholders who share your vision and can provide resources or feedback.
    • Pilot-in-the-plane principle: Shaping the future by creating and testing new markets and products.
    Learn more:
    Bird-in-Hand: You have to create solutions with the resources available here and now. Lemonade principle: Mistakes and surprises are inevitable and can be used to look for new opportunities. Crazy Quilt: Entering into new partnerships can bring the project new funds and new directions.

    Sarasvathy’s principles for effectuation …

    innovationenglish.sites.ku.dk/model/sarasvathy-eff…

    The five principles of effectual logic

    • 1. Bird-in-hand principle—start with your means Expert entrepreneurs approach opportunity on the basis of who they are, what they know, and whom they know. ...

    Effectual logic: How entrepreneurs think …

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    What are effectuation principles?Effectuation relates to emergent or nonpredictive strategy making, which assumes that the inherent uncertainty of business contexts requires entrepreneurial action to control and proactively shape the future. In Table 2, we provide an overview of the five effectuation principles and corresponding key references. TABLE 2. Effectuation principles

    Entrepreneurial ways of designing and designerly ways of entrepreneuri…

    onlinelibrary.wiley.com
    What is effectuation theory?Effectuation is a process theory that explains the process that entrepreneurs use to create new ventures. When looking at ways to create value for a business, entrepreneurs have the choice between ways of thinking: causal (or predictive) thinking and effectual thinking (or effectuation). Both approaches are valid, as they solve different problems.

    Effectuation principles: a theory for entrepreneurs - DAA Cap

    daacap.com
    What is effectuation & how does it work?Sign Up Below! Effectuation is a way of thinking and decision-making that is based on the idea that entrepreneurs create their future by taking action and making things happen.

    What is Effectuation? Effectuation 101

    effectuation.org
    What is the affordable loss principle of effectuation?The Affordable Loss Principle of Effectuation details how expert entrepreneurs focus on minimizing the downside of their decisions and actions, thereby mitigating risk and facilitating action. A lot of times, an entrepreneur is faced with what is called the ‘Plunge Decision’. Am I really ready to go all-in on this new venture?

    How Expert Entrepreneurs Think. The five key principles of Effectual

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  4. Effectuation
    https://effectuation.org/the-five-principles-of-effectuation

    The Five Principles of Effectuation

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  5. The Interaction Design Foundation
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    The Basic Principles of Effectuation – How to Use What You …

  6. Images of Effectuation principles With Examples

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  7. DAA Capital Partners
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    Effectuation principles: a theory for entrepreneurs

    WEBJan 7, 2021 · Effectuation is a process theory that explains the process that entrepreneurs use to create new ventures. When looking at ways to …

    • Estimated Reading Time: 6 mins
    • Effectuation
      https://effectuation.org/the-five-principles-of-effectuation-detail

      The Five Principles of Effectuation Detail

    • Effectuation
      https://effectuation.org/effectuation-101

      What is Effectuation? Effectuation 101

      WEBOverview. Effectuation is a way of thinking and decision-making that is based on the idea that entrepreneurs create their future by taking action and making things happen.

    • UVA Darden School of Business
      https://www.darden.virginia.edu/effectuation

      Effectuation - Overview | UVA Darden School of Business

    • Medium
      https://medium.com/hackernoon/how-exp…

      How Expert Entrepreneurs Think. The five key …

      WEBApr 4, 2017 · The Affordable Loss Principle of Effectuation details how expert entrepreneurs focus on minimizing the downside of their decisions and actions, thereby mitigating risk and facilitating...

    • Innovation and entrepreneurship in education
      https://innovationenglish.sites.ku.dk/model/sarasvathy-effectuation

      Sarasvathy’s principles for effectuation – Innovation and ... - ku

    • Coursera
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      Effectuation: Lessons From Expert Entrepreneurs

      WEBThis week, you’ll explore the first obstacle people often face—how to get an idea—and learn about the five principles of effectuation. Then you’ll begin to identify your own bird-in-hand and use that to come up with ventures …

    • elimindset.com
      https://elimindset.com/resource/what-is-effectuation-effectuation-101

      “What is Effectuation? Effectuation 101” - ELI Mindset

    • Darden School of Business News
      https://news.darden.virginia.edu/2020/…

      Entrepreneurship Journal Devotes New Issue to UVA …

      WEBMay 27, 2020 · One hallmark of effectuation researchers is their interest in both scholarly topics and matters of more practical importance. For example, articles in the Small Business Economics issue include: …

    • Qrius
      https://qrius.com/effectual-logic-how-entrepreneurs-think

      Effectual logic: How entrepreneurs think - Qrius

    • LinkedIn
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      The five principles of effectuation - LinkedIn

    • hubspotusercontent-na1.net
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      What is effectuation?

    • think201.com
      https://think201.com/effectuation-principles-an...

      Effectuation Principles – An Entrepreneur Guide to Success

    • SAGE Journals
      https://journals.sagepub.com/doi/10.1177/1042258717744204

      Opening the Black Box of Effectuation Processes: Characteristics …

    • Effectuation
      https://effectuation.org/effectuation-video...

      the-five-principles-of-effectuation

    • YouTube
      https://www.youtube.com/watch?v=oC-yWrC0P_E

      A brief guide to Effectuation - YouTube

    • marketingangels.fr
      https://www.marketingangels.fr/blog/the-5...

      The 5 corporate principles of Effectuation

    • ResearchGate
      https://www.researchgate.net/publication/274988058...

      (PDF) How Entrepreneurs Think: Why Effectuation and

    • Wiley Online Library
      https://onlinelibrary.wiley.com/doi/full/10.1111/jpim.12587

      Entrepreneurial ways of designing and designerly ways of ...

    • plos.org
      https://journals.plos.org/plosone/article?id=10...

      Striking the balance: Configurations of causation and effectuation ...

    • Emerald Insight
      https://www.emerald.com/insight/content/doi/10...

      How Entrepreneurs Think: Why Effectuation and ... - Emerald Insight