Exponentiation
When it is a positive integer, the exponent indicates how many copies of the base are multiplied together. For example, . The base appears times in the repeated multiplication, because the exponent is . Here, is the "base", is the "exponent", and is the "power" or, more specifically, "3 raised to the 5th power".
Effectuation
Effectuation is a principle introduced by Saras Sarasvathy in 2001. Since 1997 Sarasvathy conducted a research among 45 expert entrepreneurs. Sarasvathy interviewed the entrepreneurs and let them solve cases in order to see how they think and where they start. It appeared that 89% of the expert entrepreneurs used effectuation more often than causation. Causation is the opposite of effectuation. Where effectuation is used in situations of uncertainty, causal reasoning is used when the future is predictable. With causal reasoning, entrepreneurs will determine goals to achieve and look for the resources to do so. At the opposite with effectuation, entrepreneurs will determine goals according to the resources in their possession.