Cognitive Adaptability To be good at effectuation, you must have cognitive adaptability.

• The extent
entrepreneurs are dynamic, flexible, self-regulating, and engaged in sensing and acting on changes in
their environments. • Reflected in an entrepreneur's ability to reflect upon, understand, and control
their thinking and learning.

Learn to be more cognitive by asking questions in four areas: • Comprehension questions. • Connection
tasks. • Strategic tasks. • Reflection tasks.

Those able to increase cognitive adaptability can adapt to new situations, be creative, and communicate
their reasoning.

Entrepreneur Background and Characteristics

Education. A broad knowledge allows for the discovery of potential opportunities and assists
adaptability. • Provides transferable knowledge, skills, and problem solving abilities. Age. •
Entrepreneurial age reflects the entrepreneur's experience. • Most entrepreneurs are between 22 and
45 when starting their career.

Work History. • Work history plays a role in the growth and success of a new venture. • Experience in
financing, product development, manufacturing, distribution, and marketing are particularly important.

Networks

Entrepreneurial activity is embedded in networks of interpersonal relationships.

These networks offer: Access to resources. Assistance in discovering and exploiting new opportunities.
Opportunities to exchange goods and services. Perceived feasibility that strengthens entrepreneurial
intentions.

Sustainable Entrepreneurship

Entrepreneurial action can both sustain and develop.

Sustainable entrepreneurship is focused on preserving nature, supporting life and community in the
pursuit of opportunities to bring future products and services into existence for gain. • Those with
greater knowledge of the natural environment are more likely to notice changes in the environment that
form opportunities.