DefinePK

Abstract

The current paper introduced a strategic and educational model for entrepreneurship stranded in effectuation theory and resource-based thinking which is PSS Framework. The following framework simplifies and implements entrepreneurial planning by including the following layers; Personal Dimension (3W), Resource Dimension (3M), and Market Dimension (4P). It provides dual interpretation, first provides a linear path from Problem to Solution to Selling, and the other is structured equation: PSS = 3W + 3M + 4P. Established in the context of entrepreneurship education and incubation programs, PSS model empowers learners and early-stage entrepreneurs to setup ventures by availing existing means and contextual knowledge. PSS framework is applicable where traditional startup models are not effective and have limited resources. This paper lies the theoretical foundation of framework, elaborate its components and gives its application in teaching, mentoring and business incubation. Applications for teaching, training and future research also discussed.