(Solved Homework): can you please give example of effectual entrepreneur? I what ways is good to be…

can you please give example of effectual entrepreneur? I what ways is good to be effetuate? If so why are we taught in business classes to always thnck casually? please give example of casual entrepreneur?

Expert Answer

Q1) Effectual entrepreneur is one who, based on the skills and experience and the information available in-hand to drive actions, make decisions and create things.

Example of Effectual entrepreneurship is when an expert chef prepares a meal based on the skills that he/she possesses and the ingredients available in the kitchen.

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Q2) It is good to be effectuate when –

  • There are no set goals
  • The future is unpredictable
  • Environment is driven by human action

Q3) Causal thinking is required to work towards set objectives and goals, learning while working towards them, a clear roadmap on how the goals can be achieved. Hence, for starters, it is always good to think causally.

Q4) Causal entrepreneur is one who works towards achieving set goals and objectives, in a predictable environment and reach a pre-envisioned state.

Example of Causal entrepreneurship is when a chef decides on the menu and then starts looking out for ingredients and determining the process on preparation of the meal.

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