1. Compare and contrast prediction and creation.

What will be an ideal response?


The two main perspectives on entrepreneurship are the predictive logic, the older and more traditional view; and the creation logic, which has been developed through recent advances in the field. Prediction is the opposite of creation. Whereas prediction thinking is used in situations of certainty, the creation view is used when the future is unpredictable. Prediction involves big planning, waiting until you get what you need, expected returns, linear process, optimization, avoiding failure at all costs, competition, and knowable. Prediction believes to the extent we can predict the future, we can control it. Creation involves small actions, starting with what you have, acceptable loss, iteration, experimentation, embracing and levering failure, collaboration, and unknowable. Creation believes to the extent we can create the future, we don’t need to predict it.

Business

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