2- Technology Entrepreneurship Flashcards
According to _____________, “ The entrepreneurial mystique? It’s not magic, it’s no mysterious and it has nothing to do with the genes. It is a discipline, and likely any discipline, it can be learned.”
PETER DRUCKER
Austrian- American Management Consultant
Is an innovator or developer who recognizes and seizes the opportunities.
ENTREPRENEUR
What defines an Entrepreneur?
-is an innovator or developer who recognizes and seizes the opportunities.
-converts these opportunities into workable/marketable ideas.
-adds value through time, effort, money, and skills.
- assumes the risks of the competitive marketplace to implement the ideas.
-realizes the rewards from these efforts.
the practice of embarking on a new business or reviving an existing business by pooling together a bunch of resources in order to exploit new found opportunities.
ENTREPRENEURSHIP
What defines Entrepreneurship?
-the creation or extraction of Economic Value
- viewed as change, generally entailing risk beyond what is normally encountered in starting a business.
-the practice of embarking on a new business or reviving an existing business by pooling together a bunch of resources in order to exploit new found opportunities.
what defines a Technopreneur?
-an entrepreneur who uses cutting-edge technology to develop new business.
-involves himself/ herself in technological changes in producing goods and services for his/her organization.
-Entrepreneurs who used “Technology as their driven factor in Transforming Resources into Goods and Services.
Types of Technology Entrepreneur:
- Technology Developers
-those who develop unique technology capable of driving a new business (investors) - Technology Users
-those who see a new technology development and understand how it can be applied to meet a market need (innovators)
What is Technological Entrepreneurship?
- simply entrepreneurship in a technology-intensive context
-process of merging technology prowess and entrepreneurial talent and skills.
Two types of Processes:
- Entrepreneurial Process
- Technopreneurial Process
The Entrepreneurial Process:
- Opportunity Analysis
- Business Planning
- Gathering Resources
- Implementation
- Scaling and Harvesting
The Technopreneurial Process:
- Idea generation
- Idea Screening
- Concept Testing
- Business Analysis
- Prototyping
- Test Marketing Commercialization
- Monitoring and Evaluation
Similarities of Entrepreneurs and Technopreneurs
- Able to determine risk and has the courage to take risks.
-Robust, energetic, and can handle stress. - independent and self-confident, yet knows where to get help.
- Positive thinker who does dwell on setbacks.
The differences of Entrepreneur from Technopreneur:
-likes to compete
-self-starter
-able to do many things at once
-likes to work for him/herself and be in control
-focuses attention on the chances of success rather than the possibility of failure
The differences of Technopreneur from Entrepreneur:
-likes to innovate
-part of a team
-is able to do many things at once, but chooses to delegate
-likes to be the one to control innovation and be part of an innovation
-takes failure in stride and knows it will lead to success if correction can be made.
What are the characteristics of an Entrepreneur/Technopreneur?
- Hard Working
- Self-Confident
- Builds for the Future
- Profit-Oriented
- Goal-Oriented
- Persistent
- Respond to Feedback
- Demonstrates Initiative
- Willing to Listen
- Sets own Standards
- Copes with Uncertainty
- Committed
- Builds on Strengths
- Reliable and had integrity
- Risk Taker
