10 Things Effectuation is NOT

by [realname-link] on Wednesday, Feb 23, 2011

 

With all the anecdotes, pet theories, and media attention around entrepreneurship it's no surprise everyone has different theories about what makes entrepreneurs successful. We believe effectuation serves as a scientific foundation for many of these theories. It's not a be-all-end-all - but it does explain how expert entrepreneurs think and act.
Below is a list of common misconceptions about effectuation ... and our responses to them. We'd love to hear your questions and thoughts about it too. Please feel free to add in the comments.
  1. Effectuation is not irrational. Effectuation is systematic.
  2. Effectuation is not trial and error. Effectuation is doing the doable.
  3. Effectuation is not adaptation. Effectuation is shaping the future.
  4. Effectuation is not NOT planning. Effectuation is about acting to take advantage of surprise.
  5. Effectuation is not all or nothing. Effectuation depends.
  6. Effectuation is not a contradiction (controlling & giving up control). Effectuation isn't about selling, it's about buy-in.
  7. Effectuation is not just for small/start-up firms. Effectuation is a method to create value from new things.
  8. Effectuation is not a personality trait. Effectuation is learnable and teachable.
  9. Effectuation is not the be-all-end-all. Effectuation is a component of entrepreneurial expertise.