Effectual Entrepreneurship, Third Edition
Practically Speaking
The Power of Control
This entrepreneur turned piles of waste rice husks into the first electrical connections for thousands of rural families.
Entrepreneur: Gyanesh Pandey
Entity: Husk Power
Country: India
Pages 128-129 in
Chapter 8 Managing Uncertainty Through Control
"Close your eyes and imagine life without electricity. Entertainment and communications are generally what people think of first. No iPad. No mobile phone. No television or computer. It's very quiet. But electricity also drives more fundamental services we take for granted, such as running water (an electric pump is usually required) and lighting. Now multiply by 329 million. That's the number of people in India in 2007 who were living without electricity. Sounds like the basis for a charitable effort that should command the attention of citizens in the world's wealthier countries.
Time for a Switch
It is the year 2007 and you are Gyanesh Pandey, a young electrical engineer who learned he could generate electricity from rice husks, a waste product heaped along the rural roads of his native state of Bihar.
Would you be tempted to apply for government grants, approach international aid agencies, and seek donations from private foundations? Maybe. But with the input of a couple of MBAs from the Darden School in the USA, Manoj Sinha and Charles (Chip) Ransler, might you consider the heretical notion that you could actually make money from this thing?"
Under Construction: Join Us in Co-Creation!

Video Resources
References & Links
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- Howard Schultz. (n.d.-a). Schultz Family Foundation. Retrieved April 20, 2025, from https://schultzfamilyfoundation.org/team-member/howard-schultz/
- Howard Schultz. (n.d.-b). Forbes. Retrieved April 20, 2025, from https://www.forbes.com/profile/howard-schultz/
- Howard Schultz. (2025). In Wikipedia. https://en.wikipedia.org/w/index.php?title=Howard_Schultz&oldid=1285405168
- Howard Schultz: An Overview of the Entrepreneur’s Career - 2025. (n.d.-c). MasterClass. Retrieved April 20, 2025, from https://www.masterclass.com/articles/howard-schultz-life-and-career
- hpeiper. (2018, September 4). Schultz to young entrepreneurs: ‘It can happen for you’. Starbucks Stories EMEA. https://stories.starbucks.com/emea/stories/2018/bocconni-university/
- Starbucks CEO Howard Schultz: How to Be Strategic Thinkers | Inc. - YouTube. (n.d.). Retrieved April 20, 2025, from https://www.youtube.com/watch?v=Q5Djl9_Xc3w
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- Starbucks’s Howard Schultz: From Coffee Entrepreneur to Three-Time CEO. (n.d.). WSJ. Retrieved April 20, 2025, from https://www.wsj.com/story/starbuckss-howard-schultz-from-coffee-entrepreneur-to-three-time-ceo-439768fc
- Taylor, K. (2017, December 13). From Brooklyn to Billionaire: The Story of How Howard Schultz Transformed Starbucks Into an $84 Billion Business. Inc. https://www.inc.com/business-insider/howard-schultz-chairman-former-ceo-starbucks-successful-billionaire-coffee.html
- The Man Behind Starbucks Reveals How He Changed the World—YouTube. (n.d.). Retrieved April 20, 2025, from https://www.youtube.com/watch?v=LnA7n9qSB7E&t=255s
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