Practical sheet | REF: FIC1728 V1

How to implement the principles of effectuation?

Author: Marc EVANGELISTA

Publication date: November 10, 2021 | Lire en français

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    1. Make do with what you have

    The entrepreneur makes do with what he has – his own funds, the "family money" he may have obtained, endowments, loans... –a sum that will not enable him to finish his adventure (he doesn't necessarily know where he needs and wants to go at the outset), but with which he will have to do the best he can to develop his business.

    The employee of a mature company is used to working with a budget, a budget that has been estimated according to the objective to be achieved. If he doesn't have this budget, he won't launch his project.

    On the face of it, these two characters have everything in common. And yet, it is important to put the employee who is going to take on the role of intrapreneur in the same frame of mind as the entrepreneur.

    To do this, you'll need to define a start-up budget that will allow the exploration...

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