prelim Flashcards
characteristics of entrepreneur
need for achievement
risk taking
open mindedness
tolerance for ambiguity
internal locus of control
visionary
based on the type of business
trading entrep
manufacturing
agricultural
base on technology
technical entrep
non techical entrep
based on ownership
private
joint
state
base on size
small scale (15m below)
medium scale ( 100 below)
large scale 100m above
base on clarence danof classification
innovating
imitative
fabian
drone
market situation where there is a large number of
independent sellers offering identical products.
Pure competition
A market situation where there is only one seller or producer
supplying unique goods and services.
monopoly
known as one buyer
market situation
monopsony
Pertains to market situation where there is relatively
large number of small producers or suppliers selling similar but not identical
products.
Monopolistic Competition
A market situation where there are a few firms offering standardized
or differentiated goods and services. A few buyer market situation
oligopoly
Determinants of Market Structure
- Economic Freedom
- Technology
- Government Laws and Policies
- Business Policies and Practices
Entrepreneurial Opportunities
niche opportunities
turbulent markets
The factors of production or distribution are owned and
managed by private individuals or corporations. It has been known by the terms
market economy or lassez faire economy.
free market economy
It is exactly the opposite of capitalism. The factors of
production and distribution are owned and managed by the state.
Command Economy.
It is a combination of capitalism and communism.
Mixed economy
Forms of Technology
as an object
as a knowledge
as a process
Characteristics of Technological Development
uncertain
dynamic
systemic
cumulative
Role of Technology for Entrepreneurs
Communication.
Research and development.
Web-based marketing.
Computer technology.
Characteristics of a Technopreneur
Hardworking.
Self-confident.
Builds for the future.
Profit-oriented.
Goal-oriented.
Persistent.
Copes with failure.
Responds to feedback.
Demonstrates initiative.
Willing to listen.
sets own standards.
Copes with uncertainty.
Committed.
Builds on strength.
Reliable and has integrity.
Risk-taker.
Traits of a Successful Technopreneur
Leadership.
Flexibility.
Discipline.
Strategist.
Focus.
Entrepreneurial Process and Technopreneurial Process
- Discovery. This is the stage in which the entrepreneur generates ideas, recognizes
opportunities, and studies the market. - Concept development. Creation of business plan: a detailed proposal describing
the business idea. - Resourcing. The stage in which the entrepreneur identifies and acquires the
financial, human, and capital resources needed for the business. - Actualization. The stage in which the entrepreneur operates the business and
utilizes resources to achieve its goals and objectives. - Harvesting. The stage in which the entrepreneur decides on business’ future
growth or development, or its demise or end.
This is the stage in which the entrepreneur generates ideas, recognizes
opportunities, and studies the market.
discovery
Creation of business plan: a detailed proposal describing the business idea
concept development
The stage in which the entrepreneur identifies and acquires the
financial, human, and capital resources needed for the business.
Resourcing.
The stage in which the entrepreneur operates the business and
utilizes resources to achieve its goals and objectives.
Actualization.
The stage in which the entrepreneur decides on business’ future
growth or development, or its demise or end.
harvesting.
Process of creating, developing and communicating abstract,
concrete or visual ideas.
Idea generation.
Process that evaluates and contrasts new product ideas to get the
most promising ones for your business.
idea screening
It is a quality check between the description of an idea and actual
product development.
concept testing
A process that offers concepts and insights into the
development of the initial framework for any project. It
Business analysis.
It is an initial creation of a product that shows the basics of what a
product will look like, what the product will do, and how the product operates.
prototyping
A strategy used by companies to check the viability of their new
product or a marketing campaign before it is launched in the market on a large
scale.
test marketing
is the process of bringing new products or
services to market.
commercialization
A combination of data collection and analysis
(monitoring) and assessing to what extent a program or intervention has, or has
not, met its objectives (evaluation).
monitoring and evaluation
These are the researchers, developers, scanner, marketing
people, and financers. The researchers are the thinkers, idea generators and the
innovators; developers are the implementers and technical people. And, scanner,
marketing people, and financers are components of human resources.
human resources
These are science parks and incubation centers, academic
institutions and R&D centers, internet access, communication and other support
services, geographic accessibility, and venture mentoring services/support.
Incubation centers have programs that provide incubation services to assist
technology start-ups in their vulnerable stages, enabling them to grow and flourish.
Their supports are office space and facilities, technical and management
assistance, promotion and development assistance, business support and
financial aid package.
environment
These are Intellectual Property Rights Office, Technology
Licensing Office (facilitates commercialization of inventions) and legal services.
laws and policies
These are investors, business sector, funding agencies and
financial services.
financial resources
intellectual property has three main elements:
human capital
organization capital
social capital
