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Understanding Technopreneurship and Technology

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Understanding Technopreneurship and Technology

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Questions and Answers

What is the main characteristic of a technopreneur?

Relies on traditional methods for business development

Uses cutting-edge technology to develop new business (correct)

Lacks innovation in business strategies

Avoids technology in business ventures

Which stage of team development is characterized by constant disagreements as team members get to know each other?

Forming

Norming

Performing

Storming (correct)

What is the primary difference between invention and innovation?

Innovation is about creating new products, while invention focuses on improving existing ones (correct)

Innovation is a novel concept, while invention is an improvement on existing concepts

Invention is related to technology, while innovation is not

Invention involves physical items, while innovation involves services

Which term refers to the capacity to recover quickly from difficulties?

Resilience Signup and view all the answers

What is the practice of consistently converting good ideas into profitable commercial ventures known as?

Entrepreneurship Signup and view all the answers

Which term represents self-assurance arising from one’s appreciation of their own abilities or qualities?

Confidence Signup and view all the answers

What is the main difference between a LOYAL CUSTOMER and an IMPULSE BUYER?

Loyal customers consistently buy from you, while impulse buyers make decisions on the spot without much thought. Signup and view all the answers

What distinguishes a CUSTOMER from a CONSUMER?

A customer is focused on purchase, while a consumer is focused on usage. Signup and view all the answers

What defines a NEED-BASED CUSTOMER?

They know exactly what they want and need, and are primarily driven by price. Signup and view all the answers

How does a VALUE MAP differ from a VALUE PROPOSITION?

A value map breaks down features and benefits, while a value proposition articulates what the organization does. Signup and view all the answers

Which type of customer is primarily driven by price?

Discount Customer Signup and view all the answers

Who is typically the end user in the context of consumption motivation?

Consumer Signup and view all the answers