ENTR200 Lecture Notes - Lecture 10: Downside Risk, Zappos, Magic Pocket
Document Summary
Midterm: sb106, know your principles and practices, spend time watching the videos and reading the content, reflect on activities we have done in class, many elements of the course build off of and relate to each other. Don"t learn in a silo, think about how different concepts connect: review the slides think about what was said in the lecture. If you weren"t here for the lecture, get the notes: 50 marks (35 short answer + 15 multiple choice, 2 hrs to write it. Principles of effectuation: basis for taking action. Causal: goal oriented, goals determine action; means are assembled through goals. Effectual: means-oriented: goals emerge by imagining a course of action based on available means: attitude toward risk, attitude towards outsiders. Causal: expected return; focus on upside potential then work to minimize risk. Effectual: affordable loss: limit downside risk by focusing on what can afford to lose. Causal: competitive; protect what you have and maximize your share; transactional relationships.
