Malefane Lebusa & Teboho Pitso

DILEMMAS IN ENTREPRENEURSHIP EDUCATION DIMENSIONS OF REFLECTION STRATEGIC THEMES (QUESTIONS) For or about Entrepreneurship? Ivory tower or Entrepreneurial university? University role in its context and institutional norms Management or Entrepreneurship Theory? Learning or Teaching?The portfolio of courses and the target group for entrepreneurial education At the University or elsewhere? Entrepreneurship or enterprising behaviour? The purpose of teaching and the learning process of each entrepreneurial course Individually or Collectively? Art or Science?

 Effectuation is a set of decision-making principles entrepreneurs are observed to employ in situations of uncertainty. The alternative to effectuation is causality, which describes decision- making heuristics rooted in prediction. The two logics can be contrasted as follows:decision-making entrepreneursuncertaintycausalityprediction Causation: If I can predict the future, I can control it. Effectuation: If I can control the future, I do not need to predict it.

While causal thinkers are like great generals seeking to conquer fertile lands (Genghis Khan conquering two thirds of the known world), effectual thinkers are like explorers setting out on voyages into uncharted waters (Columbus discovering the new world)

 BIRD-IN-HAND PRINCIPLE Start with Who you are, What you know, Whom you now (not with pre-set goals)  AFFORDABLE LOSS PRINCIPLE Invest what you can afford to lose-extreme case R0 I(Not expected return)  CRAZY QUILT PRINCIPLE Build a network of self-selected stakeholders (Not competitive analysis)  LEOMONADE PRINCIPLE Embrace and leverage surprises (Not avoid them)  PILOT-IN –THE-PLANE PRINCIPLE The future comes from what people do (Not inevitable trends)

Selecting between given means to achieve a pre-determined goal MI M2 M3 M4 M5 Given Goal

 Generating new means to achieve pre-determined goals MI M2 M3 M4 M5 Given Goals

 Imagining possible ends using given set of means Imagined ends E1 E2 E3 E4 E5 M1 M2 M3 M4 M5

Imagine the contrast between a chef to whom a specific menu is presented, and who only has to list the needed ingredients, shop for them, and then cook the meal (causal decision); and a chef who happens to find some ingredients in his cupboards, and some utensils in the kitchen, from which he imagines and produces a delicious meal (effectual decision)

 Entrepreneurship is a contact sport… You have to get into the Game!