Business
Identifying opportunity and building a venture under uncertainty; effectuation (Sarasvathy) has expert entrepreneurs reason from their means rather than fixed goals, while lean startup (Ries) tests a minimum viable product through a Build-Measure-Learn loop.
A second entry for this term. The fuller version, with everything from both, is at Entrepreneurship.
Rewritten from a truncated AJG archive entry, August 2026.
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