To help you on your changemaking journey, we have a few ideas that you can refer to:
In addition, we hope to provide all teams with mentorship and guidance as needed. In particular, teams selected in Round 2 will be able to further solidify pilot ideas through workshops on Chunking/MVP Thinking, data analysis, scaling projects, and more. You can also meet with our Changemaker faculty during “office hours” to further improve your pilots.
Hope you found these suggestions useful and happy changemaking!!
Tools to help you brainstorm and take your project forward
Principles of Effectuation
Entrepreneurs constantly make decisions and take action.
How do they do that? Are there any universal methods or principles they use?
*Dr. Saras Sarasvathy, a cognitive scientist, conducted a study of expert entrepreneurs.
Result? …The Principles of Effectuation:
1. Bird in Hand Principle – Start with you have: Don’t wait for the perfect opportunity. Start taking action based no what you have readily available – who you are, what you know, and who you know.
2. Affordable Loss Principle: Evaluate opportunities based now whether the downside is acceptable, rather than on the attractiveness of the predicted upside.
3. Lemonade Principle – Leverage contingencies: Embrace surprises that arise from uncertain situations, remaining flexible rather than tethered to existing goals.
4. Crazy Quilt Principle – Form partnerships: Form partnerships with people and organisations willing to make a real commitment to jointly creating the future with you. Don’t worry so much about competitive analyses and strategic planning.
5. Pilot-on-the-plane Principle – Create opportunities: When you can make the future happen by working with things within your control and people who want to help co-create it, you don’t need to worry about predicting the future, determining the perfect timing, or finding the optimal opportunity.
For more on these principles, please visit: www.effectuation.org.
*Dr Saras is the Paul M. Hammaker Professor in Business Administration at Darden School of Business & the Jamuna Raghavan Chair Professor in Entrepreneurship at the Indian Institute of Management Bangalore. Her book Effectuation: Elements of Entrepreneurial Expertise was nominated for the 2009 Terry Book Award by the Academy of Management. Her scholarly work has won several awards, including the 2009 and 2015 Gerald E. Hills Best Paper Awards from the American Marketing Association and the Foundation.
Our Core Purpose
To instill in students the ability and conviction to realize their full potential
and be socially responsible citizens who excel anywhere in the world.