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Alfiansyah Max Bannatyne Clark - TP075566 

Abdulhadi Muhammad - TP077039

Badr Abduldaim - TP074644 

 Ahmed Jinan Ali- TP075798

Abdirahman Warsame - TP077730

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Effectuation

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  Alfiansyah Clark - TP075566 Figure 1 : Effectuation Image  (Hillabush, 2019) Can effectuation also be used in companies? Or is it useful only for entrepreneurship? To start off, what is effectuation? Effectuation is way of thinking and decision-making used by entrepreneurs. It focuses on creating opportunities and solving problems by using the resources that are available to you, as opposed to making predictions and planning for the future. The mindset is “The future is unpredictable” so instead of trying to plan for the future, you instead focus on what is available to you at the current moment. (Mortensen, 2021) Effectuation is a versatile mindset that can also be applied to companies. Scenarios where there is high levels of uncertainty or the  future is unknowable is common, or there are simply too many variables to account for the predictive rationality approach does not work. (Dargham, 2021)  In corporations effectual thinking can be effective in the deve...
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How To Generate More Good Ideas

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Alfiansyah Clark - TP075566 Figure 1 : Good Ideas Picture  (Eifler, 2017) In the ever-changing world of entrepreneurship, ideas serve as the foundation for innovation. They are the sparks that ignite the flame, the seeds from which ventures sprout from. In order for an idea to be good, it needs to have a variety of factors such as executability, uniqueness, market fit etc. (Amin, 2019) From my perspective, ideas all stem from asking questions. Questions are a sort of starting line in the creation of an idea. “How can we market our new earphones at the Olympics for the least amount of money?” is a likely example of a question posed by beats by Dre marketers which lead to the controversial yet effective marketing campaign during the London 2012 Olympics where they provided free headphones to all athletes despite the Olympic games already having exclusive deals with other brands.  (Billboard Staff, 2012) .  A good question allows for information and goals to be broken down i...
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Problem to be solved with AI

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  Alfiansyah Clark - TP075566     Image 1: Route Optimization Diagram  (Route4Me, n.d.) Artificial Intelligence has a variety of applications which can be used to solve complex issues regarding transportation and logistics. An example of where AI can be implemented is to improve route planning.  The time it takes to transport goods and materials between the different components of a supply chain can decrease both productivity and efficiency within a business. Route optimization, a combination of Geospatial technologies and Machine learning can help address these issues. (Gayst, 2023) Geospatial technologies incorporate the mapping and analysis of spatial data, taking into account weather, traffic congestion and other external variables which is then fed into an AI which utilises machine learning algorithms which absorb this data and utilises data from historical delivery data to identify patterns, to adapt and the most time and energy efficient route that ...
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