GEOPOLITICAL REALITIES OF THE SOUTH CAUCASUS IN THE CONTEXT OF THE KARABAKH CONFLICT
Year: 2024

The article presents an analysis of the theoretical foundations of the concept of effectuation and determines the place of this concept in the theory of strategic management.It was revealed that effectuation is a process of entrepreneurial thinking, when an entrepreneur, based on the resources at his disposal, chooses those of the possible results that can be achieved with this set of resources.As an alternative to rational thinking, effectuation seems to be a more effective approach to creating