(Jessica) Please follow Guidelines and student wants plagiarism reportPrinciples of Innovation and Entrepreneurship 1,000-word assignment: Answer both parts (a) and (b) of the following question: ...

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(Jessica) Please follow Guidelines and student wants plagiarism reportPrinciples of Innovation and Entrepreneurship



1,000-word assignment: Answer both parts (a) and (b) of the following question:



1) a) What are the main differences between the ‘traditional’ and the ‘effectuation’ understanding of entrepreneurship? b) Describe the five principles of effectuation and why each is important.


Material covered in: Lectures 1.



MGT 2321-6/MGT2421: Essay Assignment 1 – GUIDELINES



All written work must be word-processed using good English in font size 12. (1000 words).


























TITLE




Give your work a title with reference to the question selected.






1. INTRODUCTION
(Approx. 100 words)




It is meant to inform the reader about three main things: what the student is going to do; why the subject is important and for whom (i.e. contributions to theory and practice); and how this is going to be done. For example the student could start by introducing:




- general issues regarding the subject/topic in question


- main questions/hypothesis to be tackled (if relevant)


- how these questions/hypotheses will be tackled (i.e. theory and empirical evidence)


- methodology (e.g. literature review + case studies + others?) (if relevant)





2. MAIN BODY SECTION (a subtitle here is advisable) (Approx. 800 words – Section 2 & 2.1)



This section develops the key issues introduced above i.e. by analysing the nature of the topic e.g. different schools of thought; key concepts have to be defined. For example:




- make clear who says what (theories/authors) and why this is important for your analysis


- illustrate with cases studies/examples if relevant for your essay







2.1. DISCUSSION




- address the criticisms against the ideas/concepts/theories above (e.g. different theoretical perspectives in relation to the topic; methodological problems to prove what has been said; lack of empirical information, etc.)


- the student may also have his/her own ideas which could support or contradict what have been said earlier. This is the place to be critical on the subject






3. CONCLUSIONS
(Approx. 100 words)




- summarise what has been done


- summarise the main findings of the study


- outline your own main reflections on the subject/study (i.e. what you have learnt from it)







4. REFERENCES




List here all of the references cited or quoted throughout the text (e.g. books; handbooks; journal articles; government reports, etc.) (use the
Harvard referencing system).













PRACTICAL ADVICE:



· Keep focus on set question


· Have a proper essay’s structure in place


· When giving examples, explain ‘who’, ‘when, ‘how’, ‘where’ otherwise not an example


· Additional bibliography to the recommended texts MUST be used


· Introductory sentences are very important


· Avoid long sentences


· Avoid colloquial language (‘a lot of...’;
‘to come out with...’; ‘does not’ instead of
‘doesn’t)


· Consistence (first or third person; font size; bold; subtitles)


· Editing work prior to submission required


· Wikipedia is not an academic source of reference; neither is a search tools like Google.com


· Each reference/citation/ quotation made in the main text must be in the Reference Section at the back and vice versa


· Avoid plagiarism




References on the main text



1. General references (Smith and McDonald, 2006) or according to Smith and McDonald (2006)


2. Quotations (Smith and McDonald, 2006:33) – page number needed


3. Three or more authors (Smith et al., 2006) or (Smith et al., 2006:33)




Citations on the Reference Section



Full reference required (author/s name + date + title + journal/book/publisher)


Example:


Smith, L. and Mc Donald (2006) “The importance of entrepreneurship and small business”,
Journal of Small Business, vol 4, 1:33)









Answered 23 days AfterFeb 01, 2021

Answer To: (Jessica) Please follow Guidelines and student wants plagiarism reportPrinciples of Innovation and...

Somudranil answered on Feb 10 2021
131 Votes
EFFECTUATION IN ENTREPRENEURSHIP
Introduction Is not showing theory that will be use for the report and reference on the report too.
The theory of Effectuation has been developed by Saras Sarasvasthy to ponder upon the decision-making process. Thereby making it function in an uncertain oper
ating environment and thus identifies and exploits the opportunities in the market. This will thus aim to shed light on the matter of establishment and leveraging of strategic relationship that will be beneficial for the entrepreneurial process (Kitching, & Rouse, 2017). In addition to this, this assignment will aim to understand the difference that persists in between traditional entrepreneurship and effectuation. Alongside this, it will aim to understand the principles of effectuation and how it is important for business. Furthermore, this will aim to discuss methodological problems that might otherwise persist.
Analysis
Difference in the Conception of Traditional and Effectual Understanding of Entrepreneurship NO ENOUGH evidence ON Effectual entrepreneurship
The traditional approach is basically advocated by the people, who have a tendency to believe that the environment is predictable. In turn, the research, analysis as well as planning might lead to rational decision process and thereby attain outcomes that are optimal. On the other hand, the effectuation approach focuses on the uncertainty that stays in the environment (Kerr & Coviello, 2019). Alongside, the belief that future cannot be predicted and goals might be affected due to the dynamic aspect of the business environment.
The basis relating to taking action in the traditional method is completely goal-oriented. Though the entrepreneur might be constrained by the limited means, thereby determine the goals in accordance to that. Since, according to traditional belief (Alsos et al., 2019) it is conceived that goals are capable of determining actions. The effectual leader is instrumental in mandating the transformation of the organization. It is put into effect by progressing the aspect of partnership concerning the other stakeholders. Tapping on the advantages and make usage of it instead of just avoiding them. It discards the attriibutes of being destabilized and the overstressful aspect that will be risky concerning the organization. This is inclusive of the fact of how many individuals are to be brought on board. On the contrary, the effectual theory states how entrepreneurship is means-oriented. Therefore, the goals that emerge happen due to the imagining courses of action that happens to be based on the given means. This means the action is determined by the kind of person, who comes on board and not the other way round.
Predisposition that exists towards risk as well as the resources pertaining to the expected return. Now traditional logic focuses on the creation problem to be pursuing the maximum opportunity in the face of...
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