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Transcript of ENTREPRENEURSHIP
When might effectuation be superior to casual thinking?
What Is an Entrepreneur ?
TB. Gamal Muchtar
Is adaptation always a good thing?
Some entrepreneurs experience failure, can you recognize the process by which they maximize their ability to learn from that experience?
Entrepreneurs have an important economic impact, an ethical and social responsibility.
Explain why you agree (or disagree)
Introduction to Entrepreneurship
Causal and Effectual Thinking
Causal thinking deals with cause and effect
Exp: deciding what we want to cook first then buying the ingredients
Effectual thinkers, on the other hand, wonder how things are going to turn out
Exp: cooking foods that can be cooked based on ingredients found in the refrigerator
Do you really think that entrepreneurs thinks effectually?
"Effectual thinker is a creative thinker"
When might effectuation be superior to causal thinking?
when spotting potential surprises
when the impossible happens
the marketplace shifts
Adapt to new situations
Communicate one’s reasoning behind a particular response
Entrepreneurs create new businesses
It creates job opportunities
Intensify competition between businesses
Will create new innovation
Leads to higher productivity and produces higher economic growth
Ethics and Social Responsibility
Businesses will always consider ethics before making decision
Even bigger businesses will rely on the communities’ view towards the business
Therefore big business/corporate will socially responsible through CSR activities and helps the community
Entrepreneurs who are able to increase cognitive adaptability have an improved ability to:
Therefore, adaptation is a good thing as long as the adaptation itself stays on track with the vision, mission, cultures, and values of the company
Used to describe an individual who organizes business / businesses
What Is Entrepreneurship ?