Being an Entrepreneur - Technopreneurship and VUCA PDF

Being an entrepreneur Topic II: What is a technopreneur?  What is a Technopreneur? What’s in store How can you be an effective one? for us? V.U.C.A 27/01/2024 MODULE 1 TOPIC 2 2 What is an entrepreneur? Defined by the pe...

Being an entrepreneur Topic II: What is a technopreneur?  What is a Technopreneur? What’s in store How can you be an effective one? for us? V.U.C.A 27/01/2024 MODULE 1 TOPIC 2 2 What is an entrepreneur? Defined by the personal risk they take on in pursuit of a new business, innovation, or some other form of enterprise. In turn, they yield profit from their enterprise’s success. The take innovative ideas and turn them into products and spark growth by taking risk on innovative ideas, Successful entrepreneurs are said to have passion, independent thinking, optimism, confidence, resourceful, good problem-solvers, tenacity, grit, vision, focus, and are action oriented. 3 Types of entrepreneurs Small business- includes partnerships, sole proprietors, and limited liability companies or LLC’s (an entity owned by its members., easier version of corporation and has more protection than SP). Home-based business, online stores, lifestyle entrepreneur Inventors Serial entrepreneur- type of people who earn income by taking on multiple risks and may earn multiple streams of income. 4 What is a technopreneur? Fairly relative new term that would mean the merging of technological expertise and entrepreneurship skills. Is a person who revolutionizes the prevailing economic order by making the best use of the tech they have at hand. They observe the prevailing business practices and merge them with fresh ideas to create something exclusive. They stand out by having the capability to absorb knowledge and implement it while keeping in mind the interest of the society and themselves. 5 Technopreneurship and Innovation Technopreneurs start their business with a validated brainstorming session, once they reach that innovative idea they use tech to make their brainchild a reality. It is a mixture of creativity and innovation that created business opportunities and productivities with traditional practices. It isn’t always about the tech as ideas and elbow grease should go hand and hand. As technology dominiates our everyday life there is a need to go with the times and integrate it into a shape shifting factor in both the domestic and business world. 1/30/2024 6 Objectives of Technopreneurship Projects in IT, life services, internet, electronics and even biotech Service firms with major focus on tech Design products and services that use the latest form of tech to serve various purposes. Tech-drive activities to deliver normal business undertakings. Being a successful entrepreneur means youll need to build an agile team, boost problem-solving skills, and have good decision-making skills as well 7  vuca VOLATILITY, UNCERTAINTY, COMPLEXITY, AND AMBIGUITY  What is v.u.c.a It describes the situation of constant, unpredictable change that is now the norm in certain industries and areas in the business world. It demands that we avoid traditional, outdated approaches to management and leadership and daily working routines. It is predicted that VUCA will be more prominent in the business world which is why we need to be aware of how can we manage such situations.  Vuca environment A VUCA environment can: and can while also: Destabilize and cause anxiety Take huge amounts of time and effort Jeopardize long term projects, Drain motivation to fight off. developments, and innovations Discourage and mess with career Increase the chances of bad decision Overwhelm individuals and moves. making organizations Make constant retaining and Paralyze the decision – making Takes a toll on internal culture. reshaping a necessity process Create ripple effects. 10  Managing v.u.c.a Identify volatile, uncertain, complex, and ambiguous situations, each has its own cause and should be dealt with one at a time. Counter Volatility with Vision- accept and embrace change as constant and unpredictable. Meet Uncertainty with Understanding- take a pause, engage in competitive intelligence, have empathy with customers, read and evaluate performances, anticipate possible future threats with responses or simulations. React of Complexity with Clarity- communicate clearly and promote collaboration Fight Ambiguity with Agility- promote adaptability, encourage cross training, lead, embrace culture ideas, and reward. 9/3/20XX Presentation Title 12  REFERENCES Websites: https://thecodework.com/blog/what-is-technopreneurship-meaning-business-model/ https://solutionsbridge.medium.com/what-is-technopreneurship- c79215f383bc#:~:text=Innovation%3A%20Technopreneurs%20are%20innovative%20thinkers,involves%20some%20level%20of%2 0risk. https://www.thebalancemoney.com/entrepreneur-what-is-an-entrepreneur-1794303#toc-what-is-an-entrepreneur https://www.shopify.com/ph/blog/what-is-entrepreneurship https://www.mindtools.com/asnydwg/managing-in-a-vuca-world 13