(3) Lesson 2: Technology Entrepreneurship

Question 1

an Austrian-American Management Consultant

Answer 1

Peter Drucker

Question 2

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

Answer 2

Peter Drucker

Question 3

an innovator or developer who recognizes and seizes opportunities

Answer 3

entrepreneur

Question 4

converts these opportunities into workable/marketable ideas

Answer 4

entrepreneur

Question 5

adds value through time, effort, money and skills

Answer 5

entrepreneur

Question 6

assumes the risks of the competitive marketplace to implement the ideas

Answer 6

entrepreneur

Question 7

realizes the rewards from these efforts

Answer 7

entrepreneur

Question 8

the creation or extraction of economic value

Answer 8

entrepreneurship

Question 9

viewed as change, generally entailing risk beyond what is normally encountered in starting a business

Answer 9

entrepreneurship

Question 10

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

Answer 10

entrepreneurship

Question 11

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

Answer 11

technopreneur

Question 12

involves himself/herself in technological changes in producing goods and services for his/her organization

Answer 12

technopreneur

Question 13

entrepreneurs who used “technology” as their driven factor in transforming resources into goods and services

Answer 13

technopreneur

Question 14

two types of technology entrepreneur

Answer 14

• technology developers
• technology users

Question 15

type of technology entrepreneur:

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

Answer 15

technology developers

Question 16

type of technology entrepreneur:

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

Answer 16

technology users

Question 17

simply entrepreneurship in a technology intensive context

Answer 17

technological entrepreneurship

Question 18

simply entrepreneurship in a technology intensive context

Answer 18

technological entrepreneurship

Question 19

process of merging technology prowess and entrepreneurial talent and skills

Answer 19

technological entrepreneurship

Question 20

two processes of technological entrepreneurship

Answer 20

• entrepreneurial process
• technopreneurial process

Question 21

entrepreneurial process

Answer 21

• opportunity analysis
• business planning
• gathering resources
• implementation
• scaling and harvesting

Question 22

part of entrepreneurial process which identify the customers need

Answer 22

opportunity analysis

Question 23

part of entrepreneurial process which plan everything inline with the business guidelines like SWOT analysis

Answer 23

business planning

Question 24

part of entrepreneurial process which gather investors, early-vangelists, market team, etc.

Answer 24

gathering resources

Question 25

part of entrepreneurial process which start implementing based on the business plan

Answer 25

implementation

Question 26

part of entrepreneurial process which involves monitoring of the business

Answer 26

scaling and harvesting

Question 27

technopreneurial process

Answer 27

* idea generation * idea screening * concept testing * business analysis * prototyping * test marketing commercialization * monitoring and evaluation

Question 28

similarities of ENTREPRENEURS to technopreneurs

Answer 28

* able to determine risk and has the courage to take risks * independent and self-confident, yet knows where to get help

Question 29

similarities of TECHNOPRENEURS to entrepreneurs

Answer 29

* robust, energetic and can handle stress * positive thinker who does dwell on setbacks

Question 30

differences of ENTREPRENEUR and TECHNOPRENEUR

Answer 30

* likes to compete --- likes to innovate * self-starter --- part of a team * able to do many things at once --- is able to do many things at once, but chooses to delegate * likes to work for him/herself and be in control --- likes to be the one to control innovation and be part of an innovation * focuses attention on the chances of success rather than the possibility of failure --- takes failure in stride and knows it will lead to success if correction can be made

Question 31

characteristics of an entrepreneur/technopreneur

Answer 31

* 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 * committed * builds on strengths * reliable and has integrity * risk-taker

Question 32

technology readiness levels

Answer 32

* idea * basic research * technology formulation * applied research * small scale prototype * large scale prototype * prototype system * demonstration system * first of a kind commercial system * full commercial application

Question 33

a level of technology readiness which refers to unproven concept and no testing has been performed

Answer 33

idea

Question 34

a level of technology readiness which refers to the principles postulated and observed but no experimental proof available

Answer 34

basic research

Question 35

a level of technology readiness which concept and application have been formulated

Answer 35

technology formulation

Question 36

a level of technology readiness where the first laboratory tests are completed; proof of concept

Answer 36

applied research

Question 37

a level of technology readiness which built in laboratory environment

Answer 37

small scale prototype

Question 38

a level of technology readiness which tested in intended environment

Answer 38

large scale prototype

Question 39

a level of technology readiness which tested in intended environment close to expected performance

Answer 39

prototype system

Question 40

a level of technology readiness which operates in operational environment at pre-commercial sale

Answer 40

demonstration system

Question 41

a level of technology readiness where manufacturing issues solved

Answer 41

first of a kind commercial system

Question 42

a level of technology readiness which refers to technology available for consumers

Answer 42

full commercial application