EFFECTUAL
ENTREPRENEURSHIP
Introduction
Practice
Play and
Creation
EFFECTUAL?
successful in producing a desired or intended result;
effective
Based on research (Saras Sarasvathy 1997) to
determine what makes entrepreneurs entrepreneurial
HOW do they thi
Business Models
cfw_
Business Model Canvas and Value Proposition Design
A product is at the centre of a business model,
but it is not a business in and of itself it cant
succeed without a great business model. The
Dragons Den Guide to Real World Business
Effectuation
Cycle and Principles
COMPARING THE THINKING
E xplo rer s vs E xp lo it er s
Issue
Causal
Effectual
Basis for taking
action / Where
to start
Goal-oriented: goals
determine action; means
are assembled based on
goals
Means-oriented: goals emerge
TEST YOUR
ASSUMPTION
S!
A startup is not a small
version of a big company.
It is a temporary
organization in search of a
scalable, repeatable,
profitable business model.
Traditional New-ProductFocus
Focus on
on
launch
date
launch date
Introduction Model
C
+
Crazy Quilt Principle
Form Partnerships
+
The Crazy Quilt Principle:
Form Partnerships
Partners
are a source of new means, new ideas,
a way of sharing risk, and the people who help
you to create an opportunity.
First
action almost always involves a pa
Affordable
Loss Principle
Focus on the Downside
How
do you
decide which
idea to pursue?
Which is the
bigger
opportunity?
Which has the
higher NPV?
How much does
each require you
to invest?
What has the
lowest downside
risk?
The Affordable
Loss Principle
Idea
n
o
i
t
a
r
e
n
Ge
i ty
v
i
t
a
e
r
C
Spaced out ideas
Blue Sky ideas
Grounded ideas
a
e
d
I
d
o
o
G
a
e
v
a
H
t
n
I Do
n
o
i
t
a
m
r
o
Idea F
pter
a
h
c
t
tex
2
The Idea to Venture Formula
text page 14
It starts with an idea, which starts with a
tra
Manu
Professional
Formal
HTML
Report
Competitive
Race Teams
Possible model Prototypes
Contract
-Based
Revenue
Pay-AsYou-Go
Bait and Hook
Multi-Level
Marketing
Servitization
of Products
Base Product &
Consumables
Pay-As-You-Go/Rental Model
Event Based
Ren
Day 3
What is a theory?
A general principle or set of principles that explains how a number of
separate facts are related to one another.
It organizes facts and guides research.
Variables
Independent
Dependent
Extraneous ex. Impacts such as one group
Missed day 5-Get notes
Day Six
Thresholds
Absolute or not there
Just noticeable difference
What you hear?
Light-Waves
Amplitude= brightness
Length=Hue
Sound=Waves
Amplitude=loudness
Frequency=pitch
The Eye
Cornea-heards light to retina
Lens-flattens or
Day 2 Psychology
Pros of Descriptive methods
Naturalistic Observation
Seeing behaviour in natural setting, it is spontaneously produced
Cant set up the situation
Ex. Watching children play in the school yard. See how people engage with
each other. Cant
WhatdidWilhelmWundtbelievethatpsychologyshouldfocuson?
a. The study of the unconscious motivations that guide
actions.
b. The study of the linkages between stimuli and the responses that they
produce.
c. The study of the adaptive value of behavioural proc
Chapter 7 Sampling & Sampling
Distributions
Systematic Sampling
Determining the Value of k
Page 1 of 4
z Formula for Sample Proportions for n > and
n >
=
!
=
where
!
n = sample size
Chapter 1
Introduction
BU/EC 255 = Managerial Statistics
Fall 2015
Ignacio Castillo, Ph.D.
icastillo@wlu.ca
Learning Objectives
What is statistics?
Am I going to actually use this in the realworld?
Differentiate between descriptive and
inferential stat
Chapter 3
Descriptive Statistics
BU/EC 255 = Managerial Statistics
Fall 2015
Ignacio Castillo, Ph.D.
icastillo@wlu.ca
Learning Objectives
Distinguish between measures of central tendency,
measures of variability, and measures of association
Understand t
Chapter 4b
Probability
BU/EC 255 = Managerial Statistics
Fall 2015
Ignacio Castillo, Ph.D.
icastillo@wlu.ca
Learning Objectives
Understand the different ways of assigning
probability
Understand and apply marginal, union, joint,
and conditional probabili
Chapter 4a
Probability
BU/EC 255 = Managerial Statistics
Fall 2015
Ignacio Castillo, Ph.D.
icastillo@wlu.ca
Learning Objectives
Understand the different ways of assigning
probability
Understand and apply marginal, union, joint,
and conditional probabili
Chapter 2
Graphical Depiction of Data
BU/EC 255 = Managerial Statistics
Fall 2015
Ignacio Castillo, Ph.D.
icastillo@wlu.ca
Learning Objectives
Construct a frequency distribution
Construct a histogram
Text has more info about other types of charts
and g
Chapter 7a
Sampling & Sampling Distributions
BU/EC 255 = Managerial Statistics
Fall 2015
Ignacio Castillo, Ph.D.
icastillo@wlu.ca
Learning Objectives
Determine when to use sampling instead of a
census
Distinguish between random and nonrandom
sampling
U
Chapter ONE STATS
statistics is a science dealing with the collection, analysis, interpretation, and
presentation of numerical data.
Population: a collection of people, interests, or objects. It can be defined as a
category Examples: All automobiles or it
Frequency Distribution- summary of data represented in the form of class
intervals and frequencies.
Table2.2 Frequency Distribution of 60 Years of Unemployment Data for Canada
(Grouped Data)
Class
Interval
Frequency
1under3
4
3under5
12
5under7
13
7under9
The Psychological
Screening of Police
Officers
Heather Flintoff, Elizabeth Carter and Mitchell Findlay
Outline
What is psychological screening?
Why is it important?
When does it happen?
What does it look like?
Personality Assessment Inventories
Cogn
Chapter 4 Notes
Key Definitions
Experiment:
A process that produces an outcome
Always more then one possible outcome
Only one outcome per trial
Outcome cannot be known with certainty in advance
Ex. Rol
Trial- one repetition process
Event
An outcome o
Steps in Determining the Location of a Percentile
1.Organizethenumbersintoanascendingorderarray.
2.
Calculatethepercentilelocation
by:
where
3.Determinethelocationbyeither(a)or(b).
(a) If isawholenumber,the thpercentileistheaverageofthevalueatthe th
locat