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effectual entrepreneurship 2nd edition pdf
Effectual Entrepreneurship, 2nd Edition by Saras D. Sarasvathy is a comprehensive exploration of effectuation theory, which focuses on how successful entrepreneurs approach uncertainty and opportunities. The book highlights five key principles that guide entrepreneurial decision-making: bird-in-hand, affordable loss, crazy-quilt, lemonade, and pilot-in-the-plane. It provides a nuanced understanding of entrepreneurial thinking, contrasting it with predictive logic and traditional business planning methods. Sarasvathy uses real-world examples to demonstrate how entrepreneurs utilize these principles to create innovative ventures in the face of ambiguity, emphasizing adaptability, resourcefulness, and collaboration. This edition further refines her ideas, offering valuable insights for both scholars and practitioners seeking to understand the dynamics of entrepreneurship in practice.
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