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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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    How can Sarasvathy's principles of effectuation be used in education?Apply Sarasvathy’s principles of effectuation as an approach to entrepreneurship in your teaching. Effectuation can be used in education to support self-efficacy and process understanding by letting the students identify the next, best step in order to solve the problem that they work with.

    Sarasvathy’s principles for effectuation – Innovation and

    innovationenglish.sites.ku.dk
    What are effectuation principles?Effectuation principles include generating new opportunities from available means ( ), leveraging unexpected contingencies ( as a selection criterion (Smolka, Verheul, Burmeister-Lamp, & Heugens,

    Some principles are more equal than others: Promotion‐ versus prevent…

    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

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    What are the four principles of effectuation theory?Firstly, effectuation theory converges on four principles ( Sarasvathy, 2001, p. 252): affordable loss rather than expected return, strategic alliances rather than competitive analysis, exploitation of contingencies rather than exploitation of preexisting knowledge, and controlling an unpredictable future rather than predicting an uncertain one.

    Opening the Black Box of Effectuation Processes: Characteristics and

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

    The Five Principles of Effectuation

    • What is Effectuation? Effe…

      Effectuation is a logic of entrepreneurial expertise that both novice and …

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      The Principles of Effectuation. Whether you're new to entrepreneurship or have …

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  5. The Interaction Design Foundation
    https://www.interaction-design.org/literature/...

    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 …

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

      The Five Principles of Effectuation Detail

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

      Effectuation - Overview | UVA Darden School of Business

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

      What is Effectuation? Effectuation 101

      WEBEffectuation is a logic of entrepreneurial expertise that both novice and experienced entrepreneurs can use in the highly unpredictable start-up phase of a venture to reduce failure costs for the entrepreneur.

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

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

    • Medium
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      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...

    • Coursera
      https://www.coursera.org/learn/uva-dar…

      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 …

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

      Opening the Black Box of Effectuation Processes: Characteristics …

    • Darden Ideas to Action
      https://ideas.darden.virginia.edu/effect…

      Effectuation Collection | Darden Ideas to Action

      WEBDarden Professor Saras Sarasvathy discovered the method through scientific research and has built a global movement of experts expanding research on and examining applications of the five principles of …

    • fs-finance.com
      https://www.fs-finance.com/blog/2020/…

      The Effectuation Approach | Technical Papers | FS …

      WEBApr 9, 2020 · 1. Bird-in-Hand-Principle. Experienced entrepreneurs work with the means at their disposal and do not chase after distant goals that cannot be planned. They do not want to plan or foresee the future, but to …

    • LinkedIn
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      The five principles of effectuation - LinkedIn

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

      Effectual logic: How entrepreneurs think | Qrius

    • hubspotusercontent-na1.net
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      What is effectuation?

    • Effectuation
      https://effectuation.org

      Home Page for Effectuation

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

      Entrepreneurial ways of designing and designerly ways of ...

    • Darden Ideas to Action
      https://ideas.darden.virginia.edu/darden-professor...

      Q&A: Darden Professor Cracks the Code of How Great …

    • marketingangels.fr
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      The 5 corporate principles of Effectuation

    • Military.com
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      The 5 Principles of Effectuation: A New Way of Problem-Solving …

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

      (PDF) How Entrepreneurs Think: Why Effectuation and

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

      the-five-principles-of-effectuation

    • Wiley Online Library
      https://onlinelibrary.wiley.com/doi/full/10.1002/sej.1305

      Some principles are more equal than others: Promotion‐ versus ...

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