Introduction to Technopreneurship Flashcards
Why do they choose Employment over putting up their own business??
- They were NOT taught to become a Business Owner.
- No for Capitalization / No money to start a Business.
- Lack of Expertise.
- Fear of taking the First Step
_______ involves combining resources, skills, and vision to bring forth new products, services, or solutions that meet market demands and create value.
- involves a wide range of activities
which includes among other things, perception of market opportunities, combining and managing the factors of
production and introduction of the production technique and product.
ENTREPRENEURSHIP
It is machinery and equipment that uses
the application of scientific knowledge in a particular area for practical purposes, using technical processes, methods, or knowledge with, a function, purpose, or
benefit, to improve human life.
TECHNOLOGY
It is the practice of consistently converting
good ideas into profitable commercial
ventures.
ENTREPRENEUR
- is the use of technology as an integral and key element in the transformation of goods and services.
- is about managing technology in order to achieve superior value for the customer.
- is either involved in delivering an innovative hi-tech product (e.g. Microsoft) or makes use of hi-tech in an innovative way to deliver its product to the consumer
(e.g. eBay), or BOTH.
TECHNOPRENEURSHIP
The term Technopreneurship is a fusion of two words: What is it??
TECHNOLOGY and ENTREPRENEURSHIP
Importance of Technopreneurship
- Creating employment opportunities
- Technological advancement
- Capital formation
- Promotion of Entrepreneurial mindset
The indispensable START-UP Ingredient all Inventions and Innovations need.
IDEAS
Creation of a New Product
INVENTION
Introduction of a NEWER and BETTER solution that meet new requirements or existing market need.
Adding value to something already existing.
INNOVATION
PHYSICAL items that include Raw materials, parts, subassemblies.
PRODUCTS
ACTIVITIES that provide some combination of time, location, form or psychological value.
SERVICES
one that derives a competitive advantage from DIRECT or INDIRECT use of Technology.
TECHNOLOGY-BASED ENTERPRISE
- an Entrepreneur who USES cutting-edge TECHNOLOGY to develop new business.
- Entrepreneurs who use TECHNOLOGY as their driven factor in transforming resources into Goods and Services, creating an environment conducive to industrial growth.
TECHNOPRENEUR
Give 5 similarities of Entrepreneur and Technopreneur
