Lesson 2

Question 1

“The entrepreneurial mystique? It’s not magic, it’s not mysterious and it has nothing to do with the genes. It is discipline, and likely any discipline , it can be learned.”

Answer 1

Peter Drucker

Question 2

An innovator or developer who recognizes and seizes opportunities

Answer 2

Entrepreneur

Question 3

The practice of embarking on a new business or revising an existing business by pooling together a bunch of resources in order to exploit new found opportunities

Answer 3

entrepreneurship

Question 4

an entrepreneur who uses cutting-edge technology to develop new business

Answer 4

Technopreneur

Question 5

Types of Technological Entrepreneur

Answer 5

Technological Developers
Technological Users

Question 6

those who develop unique technology capable of driving a new business (investors)

Answer 6

technology developers

Question 7

those who see a new technology development and understand how it can be applied to meet a market need (innovators)

Answer 7

technology users

Question 8

process in merging technology prowess and entrepreneurial talent and skills

Answer 8

Technological Entrepreneurship

Question 9

Entrepreneurial Process

Answer 9

Opportunity Analysis
Business Planning
Gathering Resources
Implementation
Scaling and Harvesting

Question 10

Technopreneurial Process

Answer 10

Idea generation
idea screening
concept testing
business analysis
prototyping
test marketing commercialization
monitoring & evaluation

Question 11

Likes to compete
self starter
able to do many things at once
likes to work for himself and be in control
focuses attention on the chances of success rather than the possibility of failure

Answer 11

entrepreneur

Question 12

likes to innovate
part of a team
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

Answer 12

technopreneur

Question 13

Characteristics of an entrepreneur/technopreneur

Answer 13

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
commited
builds on strengths
reliable and has integrity
risk-taker

Question 14

Technology Readiness Levels

Answer 14

Idea
Basis research
technology formulation
applied research
small scale prototype
large scale prototype
prototype system
demonstration system
first of a kind commercial system
full commercial application