ANSWER IT BASED ON THE FESANCO CASE STUDY (BABSON COLLEGE) THANK YOU!!!

2. Which of the creation-oriented behavior principles of entrepeneurship (bird-in-hand, crazy quilt, affordable loss, and lemonade) is the most relevant in this case? Why?

The creation-oriented behavior principles of entrepeneurship consists of five main principles:

Bird in hand: Start with who you are, what you know, and whom you know, and not necessarily with a predetermined goal or a pre-envisioned opportunity. Draw up an inventory of available means and possibilities.

Affordable loss: Invest only what you can afford to lose. It answers the question, what I am willing to risk in order to pursue this idea?.

Crazy quilt: Create a strategic alliances and partnerships with self-selected stakeholders, each of whom commits only what he or she can afford to lose. This principle focuses on partnerships rather than on competitors.

Lemonade: Leveraging chance events in uncertain surroundings into new opportunities. Treat them as useful inputs rather than hindrances to be avoided.

Pilot in the plane: Co-create the future with things within your control and with self-selected partners. It focuses on what you can control. You create the future rather than predicting it.