LESSON 1 RECAP - The Practice of Entrepreneurship

An entrepreneur with this skill usually allows his imagination to explore, exposes his mind to a treasure of opportunities and potentials' and is very innovative.

• Skill of Empathy

• Skill of Experimentation

• Skill of Play

• Skill of Reflection

This principle of effectuation means creating

solutions using resources available at the disposal on entrepreneurs

instead of having goals in mind.

• Crazy Quilt

• Affordable Loss

• Bird in Hand

• Lemonade

Usually best to apply during times of certainty. It uses information and data as basis for decision- making.

• Managerial Thinking

• Entrepreneurial Thinking

A form of thinking that sees entrepreneurship as a linear process in which steps are followed and outcomes are -ideally- predictable.

• Predictive Approach

• Creative Approach

ENTREPRENEURSHIP IS SOLELY FOR START-UPS.

• TRUE

• FALSE