...GRANDE DO SUL FACULDADE DE CIÊNCIAS ECONÔMICAS PROGRAMA DE PÓS-GRADUAÇÃO EM ECONOMIA EVIDÊNCIAS DO USO DE EFFECTUATION NA CRIAÇÃO DE NOVOS NEGÓCIOS: UM ESTUDO DE CASO VINICIUS SPADER PORTO ALEGRE 2012 VINICIUS SPADER EVIDÊNCIAS DO USO DE EFFECTUATION NA CRIAÇÃO DE NOVOS NEGÓCIOS: UM ESTUDO DE CASO Dissertação apresentada ao Programa de PósGraduação de Economia da Universidade Federal do Rio Grande do Sul, como requisito parcial para a obtenção do título de Mestre em Economia Aplicada. Orientador: Prof. Dr. Eugenio Lagemann PORTO ALEGRE 2012 DADOS INTERNACIONAIS DE CATALOGAÇÃO NA PUBLICAÇÃO (CIP) Responsável: Biblioteca Gládis Wiebbeling do Amaral, Faculdade de Ciências Econômicas da UFRGS S732e Spader, Vinicius Evidências do uso de effectuation na criação de novos negócios: um estudo de caso / Vinicius Spader. – Porto Alegre, 2012. 58 f. : il. Orientador: Eugênio Lagemann Ênfase em Economia Aplicada Dissertação (Mestrado Profissional em Economia) – Universidade Federal do Rio Grande do Sul, Faculdade de Ciências Econômicas, Programa de Pós-Graduação em Economia, Porto Alegre, 2012. 1. Empreendedorismo. 2. Tomada de decisão. 3. Negócios. 4. Estratégia. I. Lagemann, Eugenio. II. Universidade Federal do Rio Grande do Sul. Faculdade de Ciências Econômicas. Programa de PósGraduação em Economia. III. Título. CDU 658.016 VINICIUS SPADER EVIDÊNCIAS DO USO DE EFFECTUATION NA CRIAÇÃO DE NOVOS NEGÓCIOS: UM ESTUDO DE CASO Dissertação apresentada ao Programa de PósGraduação de...
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...Conclusions from an Experiment Author: Michael Faschingbauer, August 2008 In fall 2007, I set out to test effectuation principles and dynamic process in a publicly founded start-up-program in Austria. The results where compiled into the MBA master thesis Entrepreneurship with Effectuation: Testing an Innovative Approach to Business Start-UpSupport (Faschingbauer 2008). In this paper, I would like to present the outcomes after introducing the effectual “Bird-in-Hand” principle to a group of seven novice entrepreneurs in the process of their start-up preparation. 1 Abstract of my master thesis The support structures for business start-ups in Austria are based on causal assumptions about how one should start a business. One starts with the recognition of an opportunity, which needs to be concretized and developed through analysis and planning. According to the effectuation framework by Saras D. Sarasvathy (Sarasvathy 2008), expert entrepreneurs choose a radically different way. Effectuators allow goal ambiguity, they prefer partnerships and alliances to competitive strategies, make use of risk reducing schemes and opt for controlling the future instead of relying on predicting it. In my thesis, the learnable and teachable elements of effectuation were practically tested in a training scheme with entrepreneurs during start-up preparation. It was shown that effectuation training can directly influence the entrepreneurs’ thinking and acting. There where apparent effects in the diversity...
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...The new restaurant in london city Marketing skill and Entrepreneurship Assignment Submitted by: Darpan Shrestha ID: C0420BSBS0213 Submitted to Dr. Rajendra Kumar & Dr Lawernce Akwetey Submitted on 19/04/2013 Table of Contents Task 1 4 1. Introduction 4 2. Effectuation 4 3.Causation 5 4. Theory of effectuation 5 5. Conclusion 6 Task 2 8 1 Introduction: 8 2. Business description 8 2.1 Overview 8 2.2 Opening hours 8 2.3 Atmosphere 8 2.4 Product and services 8 2.5 Mission statement: 10 2.6 Our Goal: 10 2.7 Purpose: 10 2.8 Objectives 10 3. Start up Summary 10 4. Market Analysis 10 4.2 Market Analysis Summary 11 4.2.1 Size Selection: 11 4.2.2 Variety: 11 4.2.3 Price 11 4.3 Market segmentation 11 4.3.1 The business people: 11 4.3.2 Local People: 11 4.3.3 Family: 11 4.3.4 Tourist: 11 5. Target Market 12 5.1 Target market segment strategy 13 5.2 Market Needs 13 6. Service Business analysis 13 7. Market Analysis Summary 13 7.0.1 Competitive Edge: 14 7.0.2 Main Competitors: 14 7.1 Marketing Strategy 14 7.2 Marketing Program 14 7.2.1 In store marketing program 14 7.3 Promotion and publicity 15 8. Sales Strategy: 15 8.1 Sales Forecast: 16 9. Management Summary 17 9.1 Personnel plan 18 9.2 Kitchen 18 9.3 Restaurant Operation 18 10. Financial Plan 18 10.1 Financial format 18 10.1.1 Assumption: 19 10.1.2 Business growth 19 10.1.3 Estimated Weekly Sales 19 10.1.4 Estimated Seasonal...
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...http://www.5dmag.com/wp-content/uploads/2010/08/bottled-istock.jpg QUENCH BUSINESS PLAN 1) COMPARISON OF EFFECTUATION AND CAUSATION MODELS NAME: HAMIDULLAHSHIRZAI STUDENT ID: B0627MHMH0213 COURSE: MBA (FEBRUARY) SUBJECT: MSE SUBMISSION DATE: 17.04.2013 ABSTRACT This is a business plan for a new venture called Quench and in this Plan different business theories are used and different marketing Tools and techniques are highlighted in order for a new business to begin its new venture efficiently and effectively. The report covers all the relevant techniques can be used in developing a new venture 1.0 Introduction The word entrepreneur is derived from the French word “entreprendre” that means to eundertakei.i.e... The person who undertakes the risk of new enterprise. The word entrepreneur, consequently, first acted in the French language in the commencement of the sixteenth century. The word was also applied to the leaders of military expedition. But it was Richard Cantilon, an Irishman, living in France who first used the term entrepreneur to refer to economic activities. According to Cantilon: “an entrepreneur is a person who buys factor services at certain prices with a view to selling its product at uncertain prices.” Thus, to Cantilon, an entrepreneur is a carrier of risk which is non-insurable. One of the most well-known French economists Jean Baptiste Say defined the term entrepreneur in an expressive manner. According to J.B Say: “an entrepreneur...
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...every enterprise is to develop or to drown. Those who don´t innovate and fail to watch and listen to the signs provided by the market and allies and competition alike face an uncertain future. Now, the question was: How can I reduce this uncertainty? To answer that question we will consider 2 different but not exclusive approaches: Causation and Effectuation. Causal reasoning begins with a pre- determined goal and a given set of means, and seeks to identify the optimal — fastest, cheapest, most efficient, etc. — alternative to achieve that goal This is the world of exhaustive business plans, microscopic ROI calculations, and portfolio diversification. Effectual reasoning, on the other hand, does not begin with a specific goal. Instead, it begins with a given set of means and allows goals to emerge contingently over time from the varied imagination and diverse aspirations of the founders and the people they interact with. This is the world of bootstrapping, rapid prototyping, and guerrilla marketing. Whereas causation predicts on the base of given premises, effectuation creates new premises and is eager to discover what they will result in. Effectuation is a must...
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...1 ENTREPRENEURSHIP AND THE ENTREPRENEURIAL MIND-SET I. THE NATURE OF ENTREPRENEURSHIP A. Entrepreneurial actions begin at the nexus of a lucrative opportunity and an enterprising individual. . B. An entrepreneurial opportunity could stem from introducing an existing technological product used in one market to create a new market or it could be creating a new technological product for an existing market or creating a new product for a new market. 1. Because opportunities exist in high uncertainty, entrepreneurs must use their judgment about whether or not to act. 2. The individual’s prior knowledge can decrease the amount of uncertainty. C. The McMullen-Shepherd model explains how knowledge and motivation influence two stages of entrepreneurial action. 1. Signals of changes in the environment that represent possible opportunities will be noticed by some individuals but not others. 2. Individuals with knowledge of markets and technology are more capable of detecting changes in the external environment, and if motivated will allocate further attention to processing this information. 3. The result of Stage 1 is an individual’s realization that an opportunity exists for someone. 4. The result of Stage 2 is the individual then needs to determine whether it represents an opportunity for him or her. D. To be an entrepreneur is to act on the possibility that one has identified an opportunity worth pursuing and it involves...
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...Notes Barney (develop resources for single business “SBU”) (static theory) Barney: Two assumptions = resource heterogeneity and resource immobility Companies have access to different kinds of resources, and therefore a resources can be a competitive advantages VRIO = resources should be analysed by VRIO to create value in the long-term vs. Wernerfelt (develop resources for multiple business: applying for more than one products ) (process/dynamic theory) 2) Wernerfelt: Different from Barneys resources based view = looks at how firm resources can create competitive advantages to a range of/multiple different business units - Sequential entry strategy = Ex. Apple, they have used the touch technology in many different products. The firm uses the same resource to entry new markets/products - Resources position barrier = the firm set up barriers internally to protect their competitive advantages against competitors ex. keeping systems secret, optimizing internal system, develop and renew knowledge etc. Alvarez and Busenitz (2001) have linked entrepreneurship theory and the Resource-Based View of the firm (RBV) by identifying resources as the central focus of the two theoretical models. In entrepreneurship, opportunities are recognized because individuals have heterogeneous views of resources while RBV views heterogeneous resources across firms as the basis for sustainable competitive advantage. Priem and Butler (2001) * One important limitation they point at...
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...based firms. Abstract Research in Entrepreneurial marketing is about 30 years old. During this period research has followed many trajectories. Two important but divergent routes are small business marketing versus entrepreneurial marketing mirroring the discourse of small businesses versus entrepreneurial firms. Today small business marketing and entrepreneurial marketing are regarded as separate research fields, however related. EM-researches have been very openminded towards different approaches in methodology, especially compared to research within mainstream marketing in the US. During this rather long period of time advances in other disciplines have been beneficial for our own research. One such example is the development of Effectuation theory allowing us to understand entrepreneurial decision-making and consequently, important aspects of entrepreneurial marketing behaviour. Many of the research questions,...
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...discovery. In addition to this it will be argued that the notion of opportunity creation is an incremental subset of discovery and although it is not the front running process it still plays a key role in opportunity development. Shane and Venkateraman (2000) view entrepreneurial opportunity as employing a set of resources to their best use and selling them for a profit by correctly interpreting market forces. This is generally accepted as the conceptualisation of entrepreneurial opportunities, but there are disagreements about how these opportunities arise, their origin, and their nature [ (Companys & McMullen, 2007) ]. The integration of these resources can be described as a means-ends relationship with two poles. The first associates effectuation with means, where a range of possible effects can be chosen for a given focus. The opposing pole relates causation to ends, whereby a range of means are matched to an effect in order to generate that effect [ (Sarasvathy, 2001) ]. As a result of the previous two ideas three frameworks will be presented that collectively...
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...his freedom of action in any significant way. As for the procedural safeguards, unless other fully effective means are devised to inform accused persons of their right of silence and to assure a continuous opportunity to exercise it, the following measures are required. This is something that needs to be followed very strictly because if they do not read the Miranda rights the case is thrown out because if the suspect is not given this then the whole confession is out. Prior to any questioning, the person must be warned that he has a right to remain silent, that any statement he does make may be used as evidence against him, and that he has a right to the presence of an attorney, either retained or appointed. The defendant may waive effectuation of these rights, provided the waiver is made voluntarily, knowingly and intelligently. If, however, he indicates in any manner and at any stage of the process that he wishes to consult with an attorney before speaking there can be no questioning. Likewise, if the individual is alone and indicates in any manner that he does not wish to be interrogated, the police may not question him. The mere fact that he may have an swerved some questions or volunteered some statements on his own does not deprive him of the right of refrain from answering any further inquiries until he has consulted with an attorney and thereafter consents to be questioned.'' The example that the reading provided...
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...Implementing change in any area of an organization can be challenging due to the fact few individuals enjoy change whether at work or even in their personal life. It is important that the manager has a plan of action before trying to implement any change. In order to implement the new changes in the organization, the manager’s duty and views within the area is extremely crucial. The manager’s role is to evaluate the change that needs to take place, produce a line of attack to execute a change, carry out the change, and finally analyze the change in an appropriate manner. In order to have a fruitful application of a new change in any system it is critical for the organization’s manager to be involved in all the different steps on the way. When taking the steps in implementing change, managers must represent themselves as change representatives. Acting as change representatives is the substances that guarantee the change process runs from one step up to the last when the change comes to be permanent. Change representatives have a skill to inspire others, display effective interpersonal skills, flexibility, assurance, and a capability to handle opinions from varying sources of contributions. “Organizational leaders should look for these characteristics when assigning responsibility for managing the change process. Managers, though often not the precipitators of change, are accountable to the organization for leading change. Managers serve to assuage fears about change by answering...
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...Assignments: SEL1 Individual: Deadline 12 midday, Wednesday week 5. 1 x hard copy to the relevant teacher’s pigeon hole & 1 x electronic upload to Ephorus per assignment. Failure to upload on Ephorus will result in failure of the assignment. Entrepreneurship Explain how you applied Sarasvathy’s principles of effectuation to create your entrepeneurial design? Format: Name, student number, group, lecturer, course component - Entrepeneurship 1,000 words, Harvard referencing, font Times New Roman 12 Sustainability In the sustainability course we distinguished 2 environments that are of relevance to the business community: the macro-environment and the stakeholder environment. The macro-environment impacts individual businesses, while individual businesses can hardly change the course of developments in the macro-environment. The stakeholder environment, on the other hand, does impact individual companies’ activities, but –contrary to the macro-environment- individual companies also impact the interests of their stakeholders. On Blackboard you will find corporate sustainability reports of ten listed companies. Companies increasingly publish sustainability reports to inform their stakeholders (and the broader public) about their sustainability performance. Please select and scrutinize a sustainability report of one of these companies. Subsequently, select at least five sustainability related issues and relate these to the company’s value chain...
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...Roe v. Wade (1973) ruled unconstitutional a state law that banned abortions except to save the life of the mother. The Court ruled that the states were forbidden from outlawing or regulating any aspect of abortion performed during the first trimester of pregnancy, could only enact abortion regulations reasonably related to maternal health in the second and third trimesters, and could enact abortion laws protecting the life of the fetus only in the third trimester. Even then, an exception had to be made to protect the life of the mother. Controversial from the moment it was released, Roe v. Wade politically divided the nation more than any other recent case and continues to inspire heated debates, politics, and even violence today ("the culture wars"). Though by no means the Supreme Court's most important decision, Roe v. Wade remains its most recognized. At the time Roe was decided, most states severely restricted or banned the practice of abortion. However, these restrictions were challenged amid the sexual revolution and feminist movements of the 1960s. In 1970, two recent graduates of the University of Texas Law School, Linda Coffee and Sarah Weddington, brought a lawsuit on behalf of a pregnant woman, Dallas area resident Norma L. McCorvey ("Jane Roe"), claiming a Texas law criminalizing most abortions violated Roe's constitutional rights. The Texas law banned all abortions except those necessary to save the life of the mother. Roe claimed that while her life was not endangered...
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...PLANNING Decision-making and planning is said to be having the same characteristics in process however, planning is more integrative of a complex of forces and values harmonizing a breadth of goal and sub goals that is longer in term while decision-making is composite. It incorporates a statement of problem to be treated, a formulation and evaluation of imaginable alternative responses and the selection among them. Planners strive to learn of the practical difficulties awaiting their work progress. They must persuade their clients to accept their plan. Their decision must reflect consistent consideration of benefits and penalties and that it is devoted to what is good. We have two major extreme planning models. First is the rational planning model which seeks to construct an objectively ‘best’ plan and to maximize the role of the planner as expert. Goals are defined and priorities set among the desired consequence of policy. Alternatives are analyzed and the best will be chosen, one most likely and economically attainable. The experts’ crucial role would be in acquiring and assessing technical information and in selecting alternative. While the public's function is to define the goals then the planner advises how to best reach them. Second is the advocacy model which claims that alternative policies inevitably restrict value choices, properly within the realm of politics, rather than the preserve of experts. It believes that the public should be involved throughout the planning...
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...POLITICAL SCIENCE: DEFINITION AND SCOPEIntroduction: It can be argued that the discovery of the laws of evolution has, theselast two centuries, revolutionised the study of Man. Evolution has givena sort of scientific sanction to the idea of human progress of whichmodernity aims at being the concrete expression. Progress, in thispeculiar sense, not only means the advancement of scientific learningbut also the improvement of human society. The growingconsciousness of Man from little more than an ape to a fully thinkinganimal has led to a higher level of organisation and stability within hiscommunities, which were to become later on villages and cities. Overtime, with the development and expansion of human activities, theorganisation of these local units became more defined, and norms andlaws were developed to control them. Again, all along History, we findmany systems devised by various civilisations and peoples for thepurpose of ruling and governing, we observe the influence of personalor collective interests on the policies of governments and the outcomeof conflicts, and we hear of and sometimes witness the contribution of individuals either to the prosperity or ruin of a particular state orcountry. Such evolutions and variations, past and present, in the ideasand practices behind the organisation and administration of humansocieties are the proper subjects of Political Science. Definition and Scope of Political Science. 1. According to the Oxford English Dictionary, political...
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