Techno 1.1 Flashcards
- ability and willingness to develope, organize and manage a business venture
- practice of starting a business to provide product or service
- product or service does not
need to be new or innovative,
but this is what many people
typically because
there is more risk in presenting
a new idea
Entrepreneurship
- new breed of Entrepreneurship
- seldom a one-man show
- also known as technology entrepreneurship
involves coming together of people who are tech-savvy, intelligent, innovative, creative
technpreneurship
an investment project that deploys specialized individuals and heterogeneous assets that are intricately related to advances in scientific and technological knowledge for the purpose of creating and capturing value for a firm
Technology Entrepreneurship
(Bailetti, 2012)
Four elements of technology entrepreneurship
- creating and capturing value for the firm through projects that combine specialists and assets to produce and adopt
technology - collaborative experimentation and production of new products, new assets, and their attributes, which are intricately linked to scientific and technology advances and the firm’s asset ownership rights
- may entail projects that search for problems or applications for a particular technology, launch new ventures, introduce new applications, and exploit opportunities that rely on scientific and technical knowledge
- technology entrepreneurship is not about the general management practices used to operate small businesses owned by engineers or scientists or just about
small businesses
How technology entrepreneurship differentiates from other entrepreneurship types
The interdependence between scientific and technological change, as well as the selection and development of new products, assets, and their attributes, differentiate technological entrepreneurship from other entrepreneurship types
enables companies to track customer buying habits and make adjustments quickly if necessary
Big Data
a function of numerous converging factors: aging Baby Boomers who want to maintain their youth and vitality into their senior years; the miniaturization of
sensors and their ability to be embedded in the body and in exercise gear
The Quantified Self
It was only a matter of time before
entrepreneurs realized that people are becoming more comfortable sharing thingsvia the Internet
Collaborative Commerce
ever decreasing cost of embedding
sensors and microchips in objects, people, pets, and so on, has opened up a new world
Context Awareness
companies and consumers alike are
comfortable with storing important information, pictures, and other digital content in the cloud
Cloud Computing
This emerging category builds on someof the technologies listed above, but is not necessarily human-centric
Internet of Things
process of wealth creation characterized by the dynamics of new, creative firms forming and growing and old, large firms
declining and failing
Dynamic capitalism
In this model, it is disequilibrium—the disruption of existing markets by new entries—that makes capitalism lead to wealth creation [Kirchhoff, 1994]
dynamic capitalism
overall process of change and adaptationof actual industries to novelties
Creative destruction
Many traditional business models are driven out of the market processes by new technology, new forms of production, new marketing and new business models
Creative destruction
