Introduction Flashcards
is an idea with a sense of purpose – a desire to improve the state of the world and the lives of individuals by enabling the creation of firms, products, markets, services, and ideas.
Effectuation
is a way of thinking and decision-making that is based on the idea that entrepreneurs create their future by taking action and making things happen.
Effectuation
Bird In Hand Principle
The Principles of Effectuation
Start with your means
Affordable Loss Principle
The Principles of Effectuation
Set affordable loss
Crazy Quilt Principle
The Principles of Effectuation
Form partnerships
Lemonade Principle
The Principles of Effectuation
Leverage contingencies
Pilot in the Plane Principle
The Principles of Effectuation
Control the controllable
It is a logic and process that can be used as the firm develops in the “0-60mph” (early startup) phase of growth.
Effectual cycle
Filipino Chinese business tycoon and entrepreneur
and most famous for founding the SM Malls, the Philippines’ largest group of malls
“Father of Philippine Retailing”
Henry Sy Sr.
“Father of Philippine Retailing” due to owning the largest group of malls in the country.
Henry Sy Sr.
(1) Henry sy 14 principles:
-Strive to be leader in your chosen field
- be a person of integrity
- have a long term vision and strategy
- Focusing means concentrating and prioritizing
- have great passion to achieve
- work hard
- be patient and persevere
(2) Henry sy 14 principles:
- Recognize opportunity
-Be optmistic - Be confident
- Build your organization
- make it your mission to provide employmeny
- social responsibility is important
which are an urgent call for action by all countries - developed and developing - in a global partnership.
17 Sustainable Development Goals (SDGs)
adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future.
The 2030 Agenda for Sustainable Development
SM’s Path to sustainable Growth
- we provide inclusive econmic opportunities
- we faciliate development
- we promote environmental sustainability
- we create positive community impact
- we drive sustainable growth
