Podcast
Questions and Answers
What is a key characteristic of an entrepreneur?
What is a key characteristic of an entrepreneur?
- Being a dedicated manager
- Having a high risk of failure
- Creating a new thing or adding value to what exists (correct)
- Having a large amount of capital
What is one of the benefits of technological entrepreneurship?
What is one of the benefits of technological entrepreneurship?
- Reduces the cost of doing business (correct)
- Reduces the quality of business strategy
- Increases the cost of doing business
- Makes communication harder
What is a challenge that technological entrepreneurs may face?
What is a challenge that technological entrepreneurs may face?
- Easy access to capital
- Availability of market
- Lack of governmental support (correct)
- High opportunities for growth
Why is education and training important for technological entrepreneurs?
Why is education and training important for technological entrepreneurs?
What is a feature of technological entrepreneurship?
What is a feature of technological entrepreneurship?
What is the primary role of an entrepreneur?
What is the primary role of an entrepreneur?
What is a key advantage of technological entrepreneurship?
What is a key advantage of technological entrepreneurship?
What is a major challenge that technological entrepreneurs may face?
What is a major challenge that technological entrepreneurs may face?
Why is dedicated management and understanding important for technological entrepreneurs?
Why is dedicated management and understanding important for technological entrepreneurs?
What is a potential outcome of technological entrepreneurship?
What is a potential outcome of technological entrepreneurship?
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Study Notes
Definition of Entrepreneur
- To be an entrepreneur, one must create a new thing or add value to what already exists.
Entrepreneurial Needs
- A person with an idea is necessary.
- Dedicated management and understanding are required.
- Dedicated staff is essential for entrepreneurial success.
Importance of Technological Entrepreneurship
- It provides high opportunities for growth and development.
- It takes bigger time to manifest, but can lead to significant success.
- It makes communication easier and more efficient.
- It improves business strategy and decision-making.
- It reduces the cost of doing business, increasing profitability.
- It encourages customer relationships and loyalty.
Challenges of Technological Entrepreneurship
- Capital constraints can hinder entrepreneurial growth.
- Lack of infrastructure can limit entrepreneurial opportunities.
- Education and training are necessary to overcome entrepreneurial challenges.
- Political instability can negatively impact entrepreneurial growth.
- Availability of market is crucial for entrepreneurial success.
- Lack of governmental support can hinder entrepreneurial development.
Technological Entrepreneurship
- To be an entrepreneur, one must create a new thing or add value to what exists.
Characteristics of an Entrepreneur
- A person with an idea is needed.
- Dedicated management and understanding are essential.
- Dedicated staff is required.
Importance of Technological Entrepreneurship
- It provides high opportunities.
- However, it comes with a high risk of failure.
- It takes a longer time to manifest.
- It makes communication easier.
- It improves business strategy.
- It reduces the cost of doing business.
- It encourages customer relationships.
Challenges of Technological Entrepreneurship
- Capital is a major challenge.
- Lack of infrastructure is a significant obstacle.
- Education and training are needed.
- Political instability is a challenge.
- Availability of market is a challenge.
- Lack of governmental support is a major hurdle.
Example of Technological Entrepreneurship
- Google, founded by Larry Page and Sergey Brin, is an example of technological entrepreneurship.
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