Effectuation Refers To

question 66

Multiple Choice

Effectuation refers to:

• A) the degree of attention a target market pays to an idea or organization.
• B) an approach used to create alternatives in uncertain environments.
• C) transforming a high-growth venture into a small business.
• D) a process of a person becoming an owner by inheriting or getting a stake in a family business.

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Definitions:

Resource Endowments

The natural, human, and capital resources that a country or region possesses, determining its economic potential and development opportunities.

Technological Capabilities

Refers to the knowledge, equipment, and processes that an organization has at its disposal to develop new products or improve existing ones.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than its competitors.

Fewer Resources

Fewer resources refer to having a limited quantity of inputs or materials available for production or consumption compared to what is needed or demanded.