Effectuation:
A) starts with setting a goal and then mobilizing the resources to achieve it
B) starts with taking the resources one has at hand and then navigating towards a gradually emerging goal

Question

Quizplus · Accepted Answer

Effectuation is a problem-solving approach used by entrepreneurs that starts with taking the resources one has at hand and then navigating towards a gradually emerging goal, as opposed to starting with a predetermined goal and then mobilizing resources to achieve it. Effectuation emphasizes the importance of uncertainty in entrepreneurship and encourages entrepreneurs to embrace it and co-create the future with stakeholders.