How entrepreneurs think and use their knowledge to make decisions.
Cognition
Thinking about your own thinking; using higher-level thinking skills to understand and improve how you solve problems.
Metacognition
The idea that your mind works like a program, processing information about social interactions and behaviors.
Social Cognition Theory
The ability to change your thinking and approach when faced with new or uncertain situations.
Cognitive Adaptability
Using advanced thinking and reflection to plan and make better decisions.
Metacognitive Model
Understanding and following what is right and wrong in behavior.
Ethics
Making decisions based on business challenges and adapting to changing circumstances.
Effectuation
You control your own destiny and decisions. Don’t wait for perfect conditions; take charge and steer your own path.
Pilot-in-the-Plane
Start with what you already have and don’t wait for the ideal situation or opportunity. Use your current resources and skills.
Bird-in-Hand
Turn your mistakes and setbacks into chances for new opportunities. Use problems as motivation to find new solutions.
Lemonade Principle
Build partnerships with others, focusing on long-term relationships. Look for people who share your values and goals.
Patchwork-Quilt Principle
Only take risks that you can afford to lose. Understand what you can lose at each step and keep your losses manageable.
Affordable-Loss Principle
What are the 5 basics principles of effectuation in entrep
- Pilot in the plane
- Bird in hand
- Lemonade Principle
- patchwork Quit Principle
5 Affordable loss principle
what are the the types of effectuation?
Pilot in the plane
Bird in hand
Lemonade princple
Patchwork quilt principle
Affordable loss principle
what are the 3 types of cognitive?
cognition
metacognitive model
cognitive adaptability
