Abstract

The article concerns the effectual, dynamic entrepreneurship model that constitutes a response to the requirements of the changeable, uncertain business environment where the contemporary entrepreneurs operate. Earlier studies concerning implementing five effectuation principles referred mainly to expert entrepreneurs already experienced in establishing and running their own business. This article takes up the challenge of identifying the effectuation principles in the nascent entrepreneurs' operations. First, the authors present the review of the literature, which discusses the effectuation rules and justifies using the effectuation model by pre-entrepreneurs. The second part of the article presents the results of quantitative research aimed at assessing the effectuation index in the nascent entrepreneurs' operations. In addition, the relationship between the application of the effectuation principles and the effectiveness of the venture, measured at the level of achieved results (financial and non-financial) and entrepreneurs' satisfaction, is analyzed. The research confirmed referring to the effectuation rules by the members of the studied group and indicated their importance for the nascent entrepreneurs' satisfaction. The conclusions were also used to develop recommendations regarding the promotion of the effectuation model in entrepreneurial education and the use of effectuation principles to motivate entrepreneurs at the difficult stage of incubating their own company.

Keywords: effectuation, pre-entrepreneurs, nascent entrepreneurs, effectuation principles, entrepreneur's satisfaction

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