Assuming you have just designed a poster for a new business idea. The company name is called Pyramid-Prints. The business will be a custom printing company focusing on academic/social/business activities. Orders can be made direct and online. Write a summary of what effectuation theory is. Reflect on your own evidence on how it relates to you. Consider other academic work on effectuation (extra credit). Think how you will do things differently in future.
Draft a set of working hypotheses for your BMC (Business Model Canvas)
The last step is particularly important. Take whatever idea you want to continue developing (and it does not have to be the same as you used in the poster) and work out the initial ‘layer’ (what the business does) then the hypothesis ‘layer’ (what guesses need to be true in order for them to work). You should then think about what type of research you need to do turn each guess into a fact.
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