Customer Development and Effectuation: A Review of Textbooks to Teach a Contemporary Introduction to Entrepreneurship. (September 2016)

• Record Type: Journal Article
• Authors: Ladd, Ted
• Is Part Of: Management teaching review. Volume 1:Number 3(2016)
• Page Start: 205
• Page End: 210
• Publication Date: 2016-09
• Subjects: effectual entrepreneurship -- lean startup method -- customer development; Management -- Study and teaching -- Periodicals; Executives -- Training of -- Periodicals; Organizational behavior -- Study and teaching -- Periodicals; 658.007
• DOI: 10.1177/2379298116636636
• Languages: English
• ISSNs: 2379-2981

Abstract

Effectuation and customer development are two contemporary theories to guide nascent entrepreneurs through the conceptualization and refinement of a business model. They operate on different levels: the former offers a worldview on how successful entrepreneurs think, whereas the latter provides step-by-step tactical instructions for generating and testing hypotheses. This article summarizes these two approaches, along with recent textbooks within each approach, to provide an integrated syllabus for an undergraduate course as an introduction to entrepreneurship.