Effectuation Under Knightian uncertainty, start from available means and affordable loss—not a fixed goal and predicted return. Create the path through controllable action and real commitments. When to Use - The market, technology, or problem is novel enough that outcome probabilities are not trustworthy. - Means are clearer than the goal: identity, skills, assets, and network exist before a fixed target does. - A small action can buy information or a partner commitment without risking ruin. - Plans keep breaking because the environment shifts faster than forecasts. When NOT to Use - The path…