Effectiveness of Effectuation-Based Entrepreneurship Learning

Abstract

School plays an important role in shaping the characters of an entrepreneur. In many cases, the success of an entrepreneur is believed to be closely related to their education. One way to produce entrepreneurs is through effectuation-based approach. This approach consists of five principles: (1) bird in hand; (2) affordable loss; (3) crazy quilt; (4) lemonade; and (5) pilot-in-the-plane. The purpose of this research is to analyze the effectiveness of effectuation-based learning in comparison with causation-based learning. This research uses qualitative descriptive approach by taking samples from students who experienced causation-based learning and effectuation-based learning. The five indicators tested in this research are: (1) business idea discovery, (2) risk minimization, (3) business flexibility, (4) networking, and (5) resources utilization. Research result suggests that, based on the five indicators, students who receieved effectuation-based learning have higher average score than those who received causation-based learning.