Effectuation Stories

          Case studies, lessons and stories about Effectuation!

          The Rise of Entrepreneurial Thinking

          Experts examine how non-predictive logic can inform the new product development process.
          Bringing new products to market has a lot in common with starting an entrepreneurial venture. Both processes have high levels of risk, are characterized by ambiguous development paths and have high failure rates. However, research into how expert entrepreneurs create successful ventures has discovered that they use a profoundly different approach to commercializing new products than the common โ€œstage-gateโ€ process used by the majority of North American companies. Specifically, in a 2009 Journal of Marketing article, โ€œMarketing Under Uncertainty: The Logic of an Effectual Approach,โ€ the authors found that those without entrepreneurial expertise rely mostly on predictive logic, while expert entrepreneurs rely on non-predictive logic. A predictive approach is linear, has predetermined goals, and assumes a continuation of the past, while a non-predictive approach is dynamic and iterative, and has open-ended goals. ...
          For abstract (paid access for full article) - please click on the link below!
          Marketing News
          Andrew J. Czaplewski
          Thomas N. Duening
          Eric M. Olson
          Relevant Principles:
          Bird-in-Hand (Means)
          Affordable Loss
          Crazy Quilt (Partnerships)
          Lemonade (Leverage Contingencies)
          Pilot-in-the-Plane (Control vs. Predict)
          External Link:

          Read On

          Creating Breakthroughs at 3M

          "Companies say they want breakthrough products but most are far more adept at making incremental...

          Read more

          A Struggle Between Efficiency and Creativity at 3M

          This article sets the stage for the need for companies like 3M to foster an effectual mindset while...

          Read more

          Bacaina Veche

          It would be fair to say that Marius Tudosiei was longer on aspiration than more tangible resources....

          Read more