ENTR200 Lecture 8: Entr200-Week8 LecNote
Document Summary
Uncertainty as the heart of the difference between and effectual and casual thinking. Predicative you can predict the future, you can control it. 3 boxes activities: risk levels, predictions easiness, strategies vs predictions, 1st box know your options known distributions, you are playing a predicted game, 2nd box unknown distributions you are playing a risk game. Learned about the game as you moved forward: 3rd box you had no ideas what your options even where let alone the distribution. This is what happens when you use predictions in a uncertain situations: sometime your past experiences can"t mean future predictions. Entrepreneur myths: an entrepreneurial opportunity: possibility to do things differently and better than they are being done at the moment, are they found or made, search vs select froom, create vs transform, depends on the entrepreneur itself. Both supply and demand are known recognition allocation #wilfs. One of supplys and demand is known discovery #cures.
