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82 Cards in this Set
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consists of manufactured objects like tools |
Technology |
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Their purpose is either to enhance human capabilities e.g., with a hammer you can apply a stronger force to an object, or to enable humans to perform tasks they could not perform otherwise. |
Technology |
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These objects have to be produced; they have to be invented, designed, and manufactured |
Technology |
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This requires a larger system including hardware and software |
Technology |
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—the know-how, human knowledge, and skills or techniques that represents the disembodied nature of technology, its knowledge base. |
Software |
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i.e., machinery or a manufacturing plant, factor inputs e.g., labor, energy, raw materials, capital |
Hardware |
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It is the use of industrial skills and applied science to transform ideas into an embodiment or real concept that facilitates new or better methods of thinking or doing things |
Technology |
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Forms of technology |
As an object; as a process; as knowledge |
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consists of websites and social media |
Web-based marketing |
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Applications such as Google Ads, Google Analytics, Canva, and other applications that may be used for advertising are best way to reach out to customers when they are searching on the web or browsing other websites. |
Advertising |
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The commonsense view identifies technology with certain types of objects, such as tools, machines, electronic devices, consumer products |
Technology as object |
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to transform matter, energy, and information to realize certain valued ends. |
Technology as a process |
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a collection ofways of knowing |
Technology as knowledge |
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Is a basic fact of life, and technology is no exception. |
Uncertainty |
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Characteristics of Technological Development |
➖It is uncertain ➖Is dynamic ➖Technological evolution is systemic ➖Technological change is cumulative |
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includes a continuous introduction of new varieties, or “species”, and continuous subsequent improvements and modifications |
Change |
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This requires a whole host of other technologies. And it requires infrastructures. |
Technological evolution is systemic |
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Changes build on previous experience and knowledge. |
Technological change is cumulative. |
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Role of Technology for Entrepreneurs |
1. Communication 2. Research and Development 3. Web based marketing a. Advertising b. Popularity c. Tracking 4. Computer technology a. IT |
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is necessary to allow efficient flow of information in a business, technology provides multiple channels for businesses to communicate both internally and externally |
Communication |
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This is extremely useful as it provides businesses with in-depth knowledge about markets before penetrating them. |
Research and development |
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One of the most beneficial use of technology is .... |
Marketing |
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Use of social media applications such as Facebook, Twitter, etc. to stay connected to other influential people, customers, and updated to the latest trends in the industry or target market. |
Popularity |
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Use of applications such as DeskTime, ProofHub, etc in tracking the tasks at hand and meeting deadlines. Also considered, those applications that track products or services provided by businesses. |
Tracking |
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Entrepreneurial process |
Discovery Concept development Resourcing Actualization Harvesting |
DCRAH |
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Technopreneurial Process |
Idea generation Idea screening Concept testing Business analysis Prototyping Test marketing Commercialization Monitoring and Evaluation
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IICBPTCM |
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represents the top technology development in the last century as it relates to business today both large and small. |
Computer |
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can reduce and automate repetitive works and reduce the time needed to search for copy collect and format information and they can enable team members to focus on critical and inventive activities |
IT |
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_______ is simply entrepreneurship in a technology intensive contex |
Technopreneurship |
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It is a process of merging technology prowess and entrepreneurial talent and skills. Although relatively new, the field receives increasing recognition from different scholars of business, and science and technology discipline. |
Technopreneurship |
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The word ________ is the one from the innovation discipline |
Technology |
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The word __________ is the one from the business discipline. |
entrepreneurship |
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is the process of organizational creativity and a process of main streaming innovation to continually find solution to important corporate problems and implementing the solutions to, in turn satisfying the economy or target. |
Technopreneurship |
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A process of synthesis in engineering the future of a person, an organization, a nation, and the world. It also lays emphasis on integrating technology with entrepreneurship. |
Technopreneurship |
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The definition of technopreneurship is presented by Bailetti (2012) is based on four elements: |
A. Ultimate outcomes B. Target of the ultimate outcomes C. Mechanism used to deliver the ultimate outcomes D. Interdependence of this mechanism with scientific and technological advances |
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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 |
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Traits of a Successful Technopreneur |
Leadership Flexibility Discipline Strategist Focus |
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What separates technology entrepreneurship from other types of entrepreneurship |
the interdependence between scientific and technological change, together with the selection and development of new products, assets, and their attributes. |
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Technopreneurship Ecosystem |
Human resources Environment Laws and policies Financial resources |
HELF |
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Importance of Technopreneurship to the Economy |
Economic growth National income Social change Community development |
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It tends to be an important resource and a key contributor to the economic success and value creation in a business. |
Intellectual capital |
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is an intangible value driver in an organization that brings about future benefits |
Intellectual capital |
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________ is one of the most critical factors that bring about development and competitiveness in organizations. |
Intellectual capital |
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_______ assists in creating wealth and in the production of other high valued assets |
Intellectual capital |
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Intellectual capital in a business includes the _____ of the ideas and the ______ for innovation which highly determines the future of the firm. |
Wealth; ability |
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According to Yang (2009), intellectual property has three main elements: |
1. Human capital 2. Organizational capital 3. Social capital |
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It includes the skills and the creativity of the workers which is increased through investments in the training programs. It also includes the skills and expertise of the employees in an organization, professional competence, social competence, employee motivation and the leadership ability. |
Human capital |
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It includes the nonhuman assets in an organization (Daum, 2003). |
Organizational capital |
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It consists of the copyrights, the patents, procedures and rules, and policies that aid in decision making — the product innovation, corporate culture, management instruments, information technology and explicit knowledge, internal cooperation, and process optimization. |
Organizational capital |
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gives rise to patents and copyrights |
Product innovation |
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relates to the values and the norms that influence knowledge transfer and job interactions. Management instruments tend to support the effort of the leaders and influences the way that decisions are made, and it includes the communication channels used during decision making |
Corporate culture |
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tend to support the effort of the leaders and influences the way that decisions are made, and it includes the communication channels used during decision making. |
Management instrument |
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relates to the continuous improvement of the internal procedures and processes. |
Process optimization |
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It refers to how the workers in the organization are able to cooperate and exchange information. |
Internal cooperation |
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Refers to the relationship of the firm with the external stakeholders |
Social capital |
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This includes the trust, the experience and the knowledge which forms the critical relationship between a business and the customers. |
Social capital |
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It is the relational capital that prevents external stakeholders such as customers from abandoning the commercial relationship |
Social capital |
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It includes customer relationships, the supplier relationships, the public relationships, and the investor relationships. |
Social capital |
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refer to the relationship between the organization and its customers. |
Customer relationship |
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This relate to the relationship with the suppliers including the current and potential suppliers. |
Supplier relationship |
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Impact of Intellectual Capital on Business Organization |
Innovation Competitive Advantage Research and Development Business Performance Value Creation Organizational Strategy Competence and Capability |
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contributes to innovation and innovation process in the business organizations. |
Intellectual property |
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improves business performance in areas such as profitability, productivity, and market value |
Intellectual property |
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contributes to changing an organization from an ordinary business to being a leader in the field and in the industry. |
Intellectual Capital |
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This is the stage in which the entrepreneur generates ideas, recognizes opportunities, and studies the market. |
Discovery |
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Creation of business plan: a detailed proposal describing the business idea. |
Concept development |
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The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the business. |
Resourcing |
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The stage in which the entrepreneur operates the business and utilizes resources to achieve its goals and objectives. |
Actualization |
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The stage in which the entrepreneur decides on business' future growth or development, or its demise or end. |
Harvesting |
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Process of creating, developing and communicating abstract, concrete or visual ideas. |
Idea generation |
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Process that evaluates and contrasts new product ideas to get the most promising ones for your business. |
Idea screening |
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It is a quality check between the description of an idea and actual product development. |
Concept testing |
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A process that offers concepts and insights into the development of the initial framework for any project |
Business analysis |
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It is a research discipline that helps you to find the business needs and identify solutions to business problems. |
Business analysis |
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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 |
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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 |
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is the process of bringing new products or services to market. |
Commercialization |
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A combination of data collection and analysis and assessing to what extent a program or intervention has, or has not, met its objectives. |
Monitoring and evaluation |
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These are the researchers, developers, scanner, marketing people, and financers |
Human resources |
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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. |
Environnement |
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These are Intellectual Property Rights Office, Technology Licensing Office (facilitates commercialization of inventions) and legal services. |
Law and policies |
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These are investors, business sector, funding agencies and financial services. |
Financial resources |
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