(3) Lesson 2: Technology Entrepreneurship Flashcards
an Austrian-American Management Consultant
Peter Drucker
“The entrepreneurial mystique? It’s not magic, it’s not mysterious and it has nothing to do with the genes. It is a discipline, and likely any discipline, it can be learned.”
Peter Drucker
an innovator or developer who recognizes and seizes opportunities
entrepreneur
converts these opportunities into workable/marketable ideas
entrepreneur
adds value through time, effort, money and skills
entrepreneur
assumes the risks of the competitive marketplace to implement the ideas
entrepreneur
realizes the rewards from these efforts
entrepreneur
the creation or extraction of economic value
entrepreneurship
viewed as change, generally entailing risk beyond what is normally encountered in starting a business
entrepreneurship
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
an entrepreneur who uses cutting-edge technology to develop new business
technopreneur
involves himself/herself in technological changes in producing goods and services for his/her organization
technopreneur
entrepreneurs who used “technology” as their driven factor in transforming resources into goods and services
technopreneur
two types of technology entrepreneur
- technology developers
- technology users
type of technology entrepreneur:
those who develop unique technology capable of of driving a new
business (investors)
technology developers
type of technology entrepreneur:
those who see a new technology development and understand how it can be applied to meet a market need (innovators)
technology users
simply entrepreneurship in a technology intensive context
technological entrepreneurship
simply entrepreneurship in a technology intensive context
technological entrepreneurship
process of merging technology prowess and entrepreneurial talent and skills
technological entrepreneurship
two processes of technological entrepreneurship
- entrepreneurial process
- technopreneurial process
entrepreneurial process
- opportunity analysis
- business planning
- gathering resources
- implementation
- scaling and harvesting
part of entrepreneurial process which identify the customers need
opportunity analysis
part of entrepreneurial process which plan everything inline with the business guidelines like SWOT analysis
business planning
part of entrepreneurial process which gather investors, early-vangelists, market team, etc.
gathering resources
part of entrepreneurial process which start implementing based on the business plan
implementation
part of entrepreneurial process which involves monitoring of the business
scaling and harvesting
technopreneurial process
- idea generation
- idea screening
- concept testing
- business analysis
- prototyping
- test marketing commercialization
- monitoring and evaluation
similarities of ENTREPRENEURS to technopreneurs
- able to determine risk and has the courage to take risks
- independent and self-confident, yet knows where to get help
similarities of TECHNOPRENEURS to entrepreneurs
- robust, energetic and can handle stress
- positive thinker who does dwell on setbacks
differences of ENTREPRENEUR and TECHNOPRENEUR
- likes to compete — likes to innovate
- self-starter — part of a team
- able to do many things at once — is able to do many things at once, but chooses to delegate
- likes to work for him/herself and be in control — likes to be the one to control innovation and be part of an innovation
- focuses attention on the chances of success rather than the possibility of failure — takes failure in stride and knows it will lead to success if correction can be made
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 has integrity
- risk-taker
technology readiness levels
- idea
- basic research
- technology formulation
- applied research
- small scale prototype
- large scale prototype
- prototype system
- demonstration system
- first of a kind commercial system
- full commercial application
a level of technology readiness which refers to unproven concept and no testing has been performed
idea
a level of technology readiness which refers to the principles postulated and observed but no experimental proof available
basic research
a level of technology readiness which concept and application have been formulated
technology formulation
a level of technology readiness where the first laboratory tests are completed; proof of concept
applied research
a level of technology readiness which built in laboratory environment
small scale prototype
a level of technology readiness which tested in intended environment
large scale prototype
a level of technology readiness which tested in intended environment close to expected performance
prototype system
a level of technology readiness which operates in operational environment at pre-commercial sale
demonstration system
a level of technology readiness where manufacturing issues solved
first of a kind commercial system
a level of technology readiness which refers to technology available for consumers
full commercial application
