effectuation
- noun
- /ɪˌfɛk.tʃuˈeɪ.ʃən/
- Specialized
:
efectuación
- Starting with available means, effectuation allows entrepreneurs to creatively co-create new opportunities.
Examples
-
The topic of my talk was Presence and Effectuation: Two Complementary Ways of Being for the Servant Leader in a Creative Era, and I mainly engaged the 9th and 10th grade students (15 and 16-year-olds) about leadership presence as authentic connection with another and presence to the moment as a way to make better decisions, especially career decisions.
Blog text (32) -
So these were the customer development process effectuation, starting with action execution, then leading to strategy and the vision.
-
By embracing effectuation, she transformed her limited resources into a thriving business idea.
-
The team utilized effectuation to navigate market changes and seize unexpected opportunities effectively.
Surface Forms
Morphology
effectuation = effectuate (semi-transparent) = effectuate + ion
Formally a nominalization of 'effectuate', but in entrepreneurship it names a specific theoretical approach, so the sense is specialized and not fully predictable for average learners.
Etymology
Effectuation shares the same root as effect, from an old word meaning 'to make' or 'bring about', as in factory. In business, effectuation is a way of thinking where people who start businesses begin with what they have and 'make' new opportunities happen instead of trying to predict exactly what will happen.
