Welcome to effectuation! We have tried to provide a summary of some of the latest and most accessible materials relating to effectuation on this page.
WHAT IS EFFECTUATION? Effectuation is a logic of entrepreneurial expertise, developed from a cognitive science based study of 27 founders of companies ranging in size from $200 million to $6.5 billion. Effectuation articulates a dynamic and interactive process of creating new artifacts in the world. Effectual reasoning is a type of human problem solving that takes the future as fundamentally unpredictable, yet controllable through human action; the environment as constructible through choice; and goals as negotiated residuals of stakeholder commitments rather than as pre-existent preference orderings.
What makes entrepreneurs entrepreneurial? An easy 8-page introduction to the key elements of the theory and its application.
Affordable Loss and the Plunge Decision How do entrepreneurs decide to take that bold move into starting a new venture?
Effectuation and New Venture Performance How does an effectual approach relate to the outcomes generated by a new venture
Ice Hotel In this story of the birth of the now popular "ICE HOTEL", students are challenged to put each of the effectual principles to work, and can compare and contrast their approach with what Ingve Bergqvist, founder of ICE HOTEL, actually did.
Guidewire How do you build an effectual organization? One way is to use a process called Scrum, enabling the organization to rethink priorities, teams and projects every month. The first of a series, this case also includes slides if you email stuart.read@imd.ch.
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