First Principles Entrepreneurial Effectuation

doi:10.1109/TEMSMET56707.2023.10150055

Paper

First Principles Entrepreneurial Effectuation

Published Feb 10, 2023 · Ankit Pal

2023 IEEE 3rd International Conference on Technology, Engineering, Management for Societal impact using Marketing, Entrepreneurship and Talent (TEMSMET)

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Abstract

This study presents a conceptual framework on ‘First Principles Entrepreneurial Effectuation’ and indicates that means-path-end is a better framework to understand how entrepreneurial people reason about specific problems in their path from a given set of means to new imagined ends. This study further shares the findings of an exploratory research with startup entrepreneurial respondents considering the suggested conceptual framework. Entrepreneurial can reason by first principles or by analogy in their path from a given set of means to new imagined ends. The imagined ends are different based on different reasonings on the path to solve problems and it is indicated that potentially ‘First Principles’ based imagined ends can result to better value outcomes as part of proposed conceptual framework. This study opens a dimension for further empirical research to substantiate the suggested conceptual framework. This study can impact the newer generations in setting the entrepreneurial path for ‘visiondriven company’ in an ‘elemental cost optimal’ manner.

Study Snapshot

First Principles Entrepreneurial Effectuation, a means-path-end framework, can help understand how entrepreneurs reason about specific problems and potentially result in better value outcomes.

PopulationOlder adults (50-71 years)

Sample size24

MethodsObservational

OutcomesBody Mass Index projections

ResultsSocial networks mitigate obesity in older groups.

First Principles Entrepreneurial Effectuation

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