The idea is quite simple – do not try to predict what cannot be predicted; instead, focus on what is within your control, take actions to make progress and course correct as the future unfolds.
The effectual approach can be summarized thus - control and shape the future, rather than predict and plan for it.
where the lean method and the associated set of tools - lean canvas, rapid experimentation with minimally viable products (MVP) and timely pivoting – come in handy.
...students to be systematic yet flexible, allowing them to learn from small experiments and make suitable adjustments to their course of action.
Students come up with a venture idea and move it towards a potential business opportunity using the concepts and tools learned in the classroom.
It is through this lived experience that they come to recognize the utility of an entrepreneurial mindset.
It gives them the confidence to embark on an entrepreneurial journey and equips them with the tools to increase their odds of success.
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