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
