C3: Technological Opportunities Flashcards
Bill Sahlman on Success
Success is the opponent of the entrepreneur.
Bill Sahlman on what Entrepreneur should challenge
Challenge status quo and focus on what customers want/need.
Bill Sahlman on what Entrepreneur is about
Individuals pursue opportunities without regard to resources they currently control
Essence of Entrepreneurial behaviour
identify opportunities and putting useful ideas into practice.
3 Entrepreneurial behavior set of tasks
- Creativity/Innovator
- Drive
- Willingness to accept risks
Idea
concept for new product or service
Opportunity
situation or market gap that cannot be exploited for making profit and feasible if strong demand
Idea/Opportunity Entrepreneurial Process (4)
- Identify / develop
- Analyze systematically and choose one
- Test idea/opportunity
- If validated, gain resources
Inventors
1. Idea or Opportunity
2. Description
3. Focus
- Idea
- Build something amazing
- Concept
Entrepreneur
1. Idea or Opportunity
2. Description
3. Focus
- Opportunity
- Build something amazing that people decide to buy
- Market
- Innovation = ____ + _____
- Innovation Description
Invention + Commercialization
Find idea and transform it into the market
3 Main Questions to ask regarding technology in tech entrepreneurship and innovation
- What technology to develop?
- How to deal with market uncertainty?
- How to manage potential applications in sectors?
What are the 2 most prominent impacts of emerging technology in the future?
- Market uncertainty
- Technology uncertainty
How to address technology uncertainty?
Feasibility analysis - can the technology be made
How to address market uncertainty?
Viability analysis - will customers buy it
Technology innovation is match making between (2)
Technology and market uncertainty
Describe the Scissor Diagram (4 parts)
Handle 1: Tech Challenge (IP, pilot, design)
Handle 2: Market Challenge (Regulations, applications)
Intersection: Matching Process
Cutting Edge: Value Creation
Technology S-Curve
- Who is it attributed to ?
- What are the two periods ?
- What does it represent ?
- Richard Foster
- Exploration and Exploitation
- Strategy performance
When to move to S curve
describe shape of curve
x-axis
y-axis
Gradual concave up curve to flatten out with diminish returns.
Returns are falling move to a new S-Curve
X-axis = time
y-axis = performance
Exploration Period
- New (2)
- degree of risk
- what efforts feel like
New opportunities and ideas
high risk and uncertainty
efforts feel unproductive
Exploitation
- what you do with your idea (3)
- describe results you see
- what happens near end of curve?
- refine, optimize and maximize value
- results accelerate, process matures
- growth tapers, diminished returns
Technology S - curve:
What is analyzes
how is it made
where is there emphasis
technology evolution
Made up of numerous S- curves
emphasis on exploitation
Does a shift in the S-curve always go to new technology
no, it can revert to historical technology
New S-curves allow you to….
choose a technology to reshape an industry
Window of opportunity of a S-Curve
End of exploration and beginning of exploitation
Is the S curve the same for all entrepreneurs?
No, each reflect a different mix of exploration and exploitation depending on the idea
Gartner’s Hype Cycle
X-axis
y-axis
X = Time
Y = Expectations
Describe Shape of Hype Curve
What does it convey
Big hump at beginning followed by trough and gradual rise
real risks of opportunities and innovation
Hype Curve First Phase and description
Innovation Trigger
- technology breakthrough or product launch
Hype Curve Second Phase and description
Peak of Inflated Expectations
- Product usage increases, more hype than proof
Hype Curve Third Phase and description
Trough of disillusionment
- excitement wears off, early adopters report issues and low ROI
Hype Curve Fourth Phase and description
Slope of Enlightenment
- early adopters see initial benefits and people understand how to adapt innovation
Hype Curve Fifth Phase and description
Plateau of productivity
- More users see real-world benefits and innovation goes mainstream
