When the pandemic hit businesses around the world, some were able to stay afloat. Others couldn’t cope and faced great losses. What made the difference? What became the deciding factor? As it turns out, the key to the success of some was effectuation. Those who had entrepreneurial acumen could easily identify the emerging needs during covid and how they could use the resources at their disposal to enter a new market. Not that any of these people were taught entrepreneurship or had prior training in the start-up culture. However, when the conventional business strategies taught in the best of business schools across the world failed, it all came down to effectuation. Effectuation is not a new term in business strategy; however, it is a very rarely applied one. The reason being its low focus on planning and strategizing, and
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