Enabling Entrepreneurs to Build on their Means: The Effectual Decision-Making Canvas

Abstract

Using the design science research approach and a framework for artifact development, this paper presents the design of an artifact in the field of entrepreneurship. More specifically, in the context of decision-making for early-stage entrepreneurs. In light of existing research indicating that the decision-making process significantly impacts an entrepreneur\u27s effectiveness and that experienced entrepreneurs use Effectuation more often than Causation when reaching decisions, this paper presents a visual tool for assisting entrepreneurs in making decisions based on the principles of Effectuation. We finally test and evaluate the resulting "Effectual Decision-Making Canvas" with aspiring and practicing entrepreneurs

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