Technopreneurship - Lecture 3 Flashcards by Adrielle Lagman

The word technology comes from two Greek words, transliterated
_________ and _________.

techne and logos

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Techne means _________

Logos means __________-

art, skill, craft, or the way, manner, or means by which a thing is gained.

word, the utterance by which inward thought is expressed, a saying, or an expression.

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means words or discourse about the way things are gained.

technology

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Technology in five senses

The Technological Process

Technological Objects

Technological Knowledge

A Technology

The Technological System

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First, technology is the rational process of creating means to
order and transform matter, energy, and information to realize certain valued ends.

The Technological Proces

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Second, technology is the set of means (tools, devices, systems,
methods, procedures) created by the technological process.
__________ range from toothbrushes to transportation systems.

Technological objects

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Third, technology is the
knowledge that makes the technological process possible. It consists of the facts and
procedures necessary to order and manipulate matter, energy, and information, as well as how to discover new means for such transformations.

Technological Knowledge

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Fourth, a ___________ is a subset of related technological objects and knowledge. Computer technology
and medical technology are examples of technologies.

technology

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Finally, ______________ consisting of the
technological process, technological objects,
technological knowledge, developers of technological objects, users of technological
objects, and the worldview that has emerged from
and drives the technological process.

The Technological System

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Characteristics of Technologigal Development

It is uncertain

Technology is dynamic

Technological evolution is systematic

Technological change is cummulative

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Role of Technology for Entrepreneurs

Communication

Research and
Development

Web-based Marketing

Computer Technology

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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.

Good communication

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Through the use of technology businesses can research the
market through the use of data. Along with secondary research,
businesses can use technology to conduct primary research in
addition to using online surveys and customer feedback

Research and
Development

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One of the most beneficial use of technology is marketing to millions of people around the globe just at
a click of a button.

Web-based Marketing

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Web-based marketing strategies include:

Search Egnine Optimizations (SEO), Social Media Marketing (SMM), Email Marketing, Pay-Per-Click Advertising, etc..

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Optimizing website
content to rank higher
on search engines like
Google, increasing
organic traffic.

SEARCH ENGINE
OPTIMIZATION

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Promoting products or
services through
platforms like
Facebook, Instagram,
Twitter, and LinkedIn to
engage with target
audiences.

SOCIAL MEDIA
MARKETING

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Creating valuable blog
posts, videos,
infographics, and other
content to attract and
retain customers

CONTENT
MARKETING

The reason for the popularity of computers with business is their efficiency, speed, low procurement cost and the capability to handle multiple tasks with little chance for error. The explosion of the internet and e commerce has opened plenty of opportunities for all types of businesses. Companies are able to train their own employees using software programs and as a result, save money on labor cost

Computer Technology

____________ is simply entrepreneurship in a technology intensive context. It is a process of merging technology
process and entrepreneurial talent and skills.

Technopreneurship

____________ 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

According to ____________, technology entrepreneurship is the organization,
management, and risk bearing of a technology-based business

Nicholas and Armstrong (2003)

____________, discussed that technopreneurship presents ways in which entrepreneurs
draw on resources and structures to exploit emerging technology opportunities.

Liu, together with his colleagues

It was __________ who defined technopreneurship as the joint effort to interpret ambiguous data, and the joint understanding to sustain technology efforts, and persisted, coordinated endeavor to accomplish technological change.

Jelinek (1996)

___________ discussed in his 2012 article entitled “Technology Entrepreneurship: Overview, Definition, and Distinctive Aspects” that technopreneurship is an investment in a project that assembles and 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.

Bailetti

ENTREPRENEURIAL PROCESS

1. Discovery 2. Concept Development 3. Resourcing 4. Actualization 5. Harvesting

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 Entrepeneur 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

TECHNOPRENEURIAL PROCESS

1. IDEA GENERATION 2. IDEA SCREENING 3. CONCEPT TESTING 4. Business Analysis 5. Prototyping 6. Test Marketing 7. Commercialzation 8. Monitoring and Evaluation

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. Due to scarcity of available resources, it’s difficult to develop several products at the same time.

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 intial framework for any project. It is a research discipline that helps you to find the business needs and identify solutions to business problems.

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. A prototype is not meant to be the final version, it's the rough draft form of the product.

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 and assessing to what extent a program or intervention has, or has not, met its objectives

monitoring and evaluation

Technopreneurship Ecosystem

Human Resources Environment Laws and Policies Financial Resources

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.

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.

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