There Are Two Ways to Think About Opportunities and Business

question 43

Essay

There are two ways to think about opportunities and business creation.One is the effectuation model of entrepreneurship mentioned in Chapter One.With this model,you start with what you have - your skills,knowledge,networks,and what needs you see that you can meet by using what you have.The second approach is called the causal model of entrepreneurship.Define this model and contrast it with the previous effectuation model of entrepreneurship.

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Definitions:

Static Equilibrium

The condition in which a physical system is at rest or its center of mass moves at a constant velocity, showing no net change in motion.

Otoliths

Small crystals in the inner ear that contribute to the sense of balance by responding to gravity and movement.

Organ of Corti

A structure located in the cochlea of the inner ear, containing hair cells that act as the primary sound receptor for auditory sensation.

Cochlea

A spiral-shaped cavity of the inner ear that plays a key role in the sense of hearing, converting sound vibrations into nerve impulses.