Effectual Entrepreneurship by Stuart Read & Saras Sarasvathy & Nick Dew & Robert Wiltbank

Author:Stuart Read & Saras Sarasvathy & Nick Dew & Robert Wiltbank [Read, Stuart]
Language: eng
Format: azw3
ISBN: 9781138923775
Publisher: Taylor and Francis
Published: 2016-09-18T16:00:00+00:00

Each stakeholder strives to invest only what he or she can afford to lose (Affordable Loss). Since it is not clear at the early stages of the effectual process what the pie will be, let alone how much each piece will be worth, stakeholders cannot effectively use expected return as their immediate criterion for deciding what resources to invest. Instead, stakeholders have to reconcile within their own minds whether they can live with the loss of what they are contributing to the enterprise. Here, as well, the selection process goes both ways.

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