Tag Archives: real-time market data

Effectuation and Innovation I: avoid market research

Efffectuation is a prescription for innovating when the risk is unknown and unknowable. When outcomes and probabilities are unknowable an entrepreneur: enters a market based on his/her knowledge, experience and networks; keeps investments small to retain future options; and plans to shape the development of the nascent market with the help of customers and stakeholders. Continue reading

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