CHAPTER 1 TPREN.docx

**CHAPTER 1: Introduction to Technopreneurship** - **Technology created a huge impact and influence in the society where people has become dependent.** - **Through technology people become interested to develop simple products for innovation.** **Technology and Entrepreneurship** -...

**CHAPTER 1: Introduction to Technopreneurship** - **Technology created a huge impact and influence in the society where people has become dependent.** - **Through technology people become interested to develop simple products for innovation.** **Technology and Entrepreneurship** - ***Technology*- is a body of knowledge devoted to creating tools, processing actions, and extracting of materials.** - **It is an application of science used to solve problems.** - **Utilized by people at work, communication, transportation, learning, manufacturing & businesses.** - **This helps businesses to create new products for their consumers & let them to stay competitive locally & globally.** - **Entrepreneurship- is the practice of embarking on a new business venture or existing businesses by combining different resources in order to develop new opportunities.** **What is Technopreneurship?** - **Is the merging of technology and Entrepreneur skills.** - **Is a new breed of entrepreneurship that involves the collaboration of people who are intelligent, determined, creative, technology savvy & passionate in dealing with risk and function as a team.** - **Technology *+* Entrepreneurship = Technopreneurship** **Entrepreneur and Technopreneur** - **Entrepreneur- is a person that possesses various skills in terms of marketing, communication & strategically has the potential demand for the goods and services whether as a sole proprietor, with partners & within a corporation.** **Types of Entrepreneur** 1. **Innovative Entrepreneur- is a person with a great passion in discovering & developing new products, new ideas & new processes. They are willing to take risk in every new innovation because they enjoy challenges.** 2. **Imitating Entrepreneur- is a person who immediately copy the existing products made by the innovative entrepreneur because there is no such new inventions or new innovations.** 3. **Fabian Entrepreneur- is a type of person that is skeptical about the changes that will be made in the organization. They will not decide to develop new innovations unless they are satisfied with result or outcome of the released products in the market. They are not risk-taker, as they wanted to anticipate success in the market first before indulging into the next project. They are not willing to have financial loss due to its failure.** 4. **Drone Entrepreneur- are reluctant to change** - **They are happy with the result of their business despite of financial losses.** - **They are not eager to make any changes in their organization.** **Technopreneur- is a person who perceives an opportunity by introducing new products & services, creating new forms of organization & by utilizing new raw materials.** - **Most of them undertakes risks that has the possibility of earning a profit.** - **Starts out with nothing but an idea defying existing products, practices & systems in which he can think of a new solution through the use of technology & innovate it eventually.** **5 Traits of Technopreneur** - ***Strong Communication Skills that Close Deals*** - ***Product Management Knowledge*** - ***Deep Technical Understanding*- tech-oriented to deal with technical aspects of your idea or product. Be technology savvy to be able to compete with others; be competitive & understand the dynamics of your market.** - ***Take Big Risks*** - **Persistence** **Importance of Technopreneurship** - **Through technological goods and services, it supports the beneficial and long-term development of technology.** - **For many people, it opens up access to technological advancement.** - **It leads to more employment opportunities, particularly in MSMEs (micro, small, and medium-sized businesses).** - **Additionally, it supports the growth of the market or economy.** - **Finally, it encourages having an entrepreneurial mindset.** **Differences of Entrepreneur vs. Technopreneur** +-----------------------------------+-----------------------------------+ | **Entrepreneur** | **Technopreneur** | +-----------------------------------+-----------------------------------+ | - **Likes to compete** | - **Likes to compete** | | | | | - **Self-starter/pioneer** | - **Likes to innovate** | | | | | - **Able to do many things at | - **Part of a team** | | once** | | | | - **Able to do many things at | | - **Creative or has goals & | once but chooses to | | dreams** | delegate** | | | | | - **Likes to work for himself** | - **Innovative/Greater Vision** | | | | | - **Motivated to achieve & | - **Likes to be one to control | | attain financial success** | innovation** | | | | | - **Focuses on the chances of | - **Motivated by a strong | | success rather than the | vision & the passion to | | possibility of failure** | innovate** | | | | | | - **Takes failure in stride & | | | knows that if corrected it | | | will lead to success** | +-----------------------------------+-----------------------------------+ **Entrepreneurial Process** - ***Opportunity Analysis*- This phase refers to establishing demand & competitive analysis of the market. An entrepreneur should have a clear vision by making a thorough study of the market potentials to create strategies & desirable objectives for the growth of an organization.** - ***Business Planning*- the entrepreneur should have a written business plan that composed of the organization's future goals, how to achieve those goals & the timeframe within which goals are to be achieved.** ***Business Planning*- usually includes marketing strategy, financial & operational viewpoint.** - **Gathering Resources- entrepreneurial resources include sources of financing such as like lines of credit & investment capital, technology, networks of contacts & publicity.** - ***Implementation*- is a process of execution about what has been planned & utilizing the numerous resources for the success of the business.** - ***Scaling and Harvesting*** **Scaling- is a process where the organization encounter challenges. The organization experience painful point fpr rapid growth for stability & continuity of the business operations.** **Harvesting- is a process where the organization will reap what they sow in dealing with the challenges they had encountered throughout the process of the business.** **Technopreneurial Process** - **Idea Generation** - **Is the process of creating, developing & communicating abstract, concrete or visual ideas.** - **It includes goals, strategies, concepts, design, style plans & actions to come up with possible solutions for actual problems & opportunities.** - **Idea Screening** - **Is a process that evaluates & contrast new prospective ideas for your business.** - **It is where assessment will be instigated to make sure that your ideas is related to the business.** - **The idea screening criteria are used to determine compatibility & whether the idea will earn profit or could return on investment.** - ***Concept Testing*** - **Is the process of testing new or hypothetical products or services before they are launched (Management Study Guide).** - **It is probably the possibility of generating the best product that has.** - ***Business Analysis*** - **Is a process of identifying what the business needs & determining solutions to business problems, the will to improved the process, management & the financial status quo to deliver value to the stakeholders.** - ***Monitoring & Evaluation*** - **Evey business should be monitored & evaluated according to the performance in the market.** - **Monitoring & evaluation is important for the business to diagnosed problems & improve what is needed to stayed in the competition.** - **Through evaluation the organization will identify the performance rating of the business.** - ***Commercialization*** - **Is the process of introducing new products & services to the market.** - **An organization entails production, distribution, marketing, sales, customer support to achieve the commercial success of the new product or service.** - **The use of advertisement, social media campaign, video production is part of communication in order for the vision & value of the product or services will be reach out to the society.** - ***Test Marketing*** - **Is a process of experimenting & assessing the product to check its viability to customers comprising of actual stores & real-life buying situations.** - **It is to test the consumer reactions towards the new product or services in the market.** - ***Prototyping*** - **Is the overall design of the product where it shows its functionalities, specifications and interface that is based on the business analysis.** **Successful Global and Local Technopreneurs** **Local Technopreneurs** - **Diosdado "Dado" Banatao** - **Invented the two of the foundation technologies of PC (Personal Computer), the chip set & the graphics acceleration architecture.** - **He also founded technology start-ups like Mostron.** - **In 1993, S3 considered as the most profitable company in the world. In 1996, it was the Chips & Technologies- which later that year he sold to INTEL (Integrated Electronics).** - **Joey Gurango** - **He go through bankruptcy & loss of programmers** - **His first real business is pizza delivery.** - **Hist first IT business is Macintosh.** - - **Winston Damarillo** - **Born in a small town in Bohol** - **At age of 19, schooling at De La Salle University, he began selling bulldozer parts** - **One of the highest performing venture capital professionals at Intel.** - **The Chief executive officer and co-founder of Morphlabs.** - **A proven serial entrepreneur with a track record of building successful technology start-ups.** - **Joey Concepcion** - **Came from a middle-class family in Pasay City.** - **Has grandparents who are known for being great entrepreneurs.** - **He envisioned a movement that would advocate for a positive & enterprising attitude among Filipinos- a mindset that would help them move up in life & a means out of poverty.** - **Go Negosyo was born, that provides seminars, livelihood trainings, pamphlets, TV programs & books to give Filipinos the knowledge to establish their own businesses.** - **Leandro Leviste** - **Son of Loren Legarda & Tony Leviste** - **He didn't follow the family traditions of entering politics** - **Studies entrepreneurship at Yale University.** - **He drops out college** - **At 23, he founded Solar Philippines** - **The company provides solar power in Leviste's place.** - **Through family connections, he has spent \$100 million dollars in bank loans** - **He was able to provide solar farms & rooftop panel systems.** **Global Technopreneurs** - **Mark Elliot Zuckerberg** - **Born in whiteplains, New York, attended Harvard University, where he launched Facebook from his dormitory room on February 4, 2004 with college roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz & Chris Hughes.** - **An American technology entrepreneur & Philanthropist** - **Known for co-founding & leading Facebook as its chairman & Chief Executive Officer.** - **Co-founded & a board member of the solar sail spacecraft development project Breakthrough Starshot.** - **Jeff Preston Bezos** - **Born on January 12, 1964, Albuquerque, New Mexico, US American entrepreneur.** - **He played a key role in the growth of e-commerce as the founder** - **Chief executive officer of Amazon.com, Inc.- an online merchant of books, later of a wide variety of products.** - **Under his guidance Amazon became the largest retailer on the World Wide Web & the model for Internet Sales.** - **In late 2007, Amazon released a new handheld device called the Kindle- a digital book reader with wireless Internet connectivity, enabling customers to purchase, download, read & store a vast selection of books on demand.** - **Drew Houston** - **The co-founder and CEO of Dropbox.** - **He founded the company at 2007 with Arash Ferdowsi** - **Drew led the company's growth from simple idea to a service used by 500 million people around the world.** - **He received his Bachelor's degree in Electrical Engineering & Computer Science at MIT in 2006** - **After graduation, he turned his frustrations in carrying USB drives & emailing files to himself into a demo for what became Dropbox** - **Dropbox- is one of the world's leading business collaboration platforms, with 11 million paying subscribers & 1,800 employees across 12 global offices.** - **Lawrence Edward Page** - **Born on March 26, 1973** - **An American computer scientist and Internet entrepreneur;** - **Co-founder of Google with Sergey Brin** - **The Chief Executive Officer of Alphabet Inc. (Google's parent company).** - **He step aside as Google CEO in August 2001 in favor of Eric Schmidt, and re-assumed the role in April 2011.** - **He step aside again in July 2015 to become the CEO of Alphabet & under his leadership, Alphabet is seeking to deliver major advancements in a variety of industries.** - **As of June 2019, Page is the 12^th^- richest person in the world with a net worth of \$51.1 billion.** - **Forbes placed him 10^th^ in the list "billionaires 2019".** - **William Henry Gates** - **Born on October 28, 1955 in Seattle, Washington.** - **The principal founder of Microsoft** - **Known as Bill Gates, one of the most influential & richest people on the planet.** - **Recent his wealth estimated at US\$84.2 billion (January 2017); this is an equivalent of the combined GDP (Gross Domestic Products) of several African economies.** **Chapter 2: SMALL MEDIUM ENTERPRISE** **What Are Small and Midsize Enterprises (SMEs)?** - **Small and medium enterprises (SMEs) are businesses that maintain revenues, assets, or a number of employees below a certain threshold.** - **Each country has its own definition of what constitutes a small and midsize enterprise. Certain size criteria must be met, and occasionally, the industry in which the company operates is taken into account as well.** - **Each country has its own definition of what constitutes a small and midsize enterprise.** - **Each country may also set different guidelines across industries to define what a small business is across sectors.** - **SMEs play an important role in an economy, employing vast numbers of people and helping to shape innovation.** - **Governments regularly offer incentives, including favorable tax treatment and better access to loans, to help keep SMEs in business.** **What Is the Role of SMEs in an Economy?** **Though small, SMEs play an important role in an economy.** - **They outnumber large firms, employ vast numbers of people, and are generally entrepreneurial in nature, helping to shape innovation.** - **They can exist in almost any industry** - **Can reside within industries requiring fewer employees and smaller up-front capital.** - **SMEs are segregated from large, multinational companies because they fundamentally operate differently. Large, complex firms may require advanced enterprise resource planning (ERP) systems---for accounting, supply chain management and financial reporting, and interconnectivity across offices around the world---or deeper organizational processes.** **3** **SMEs, on the other hand, may require fewer systems given their narrower scope of operations.**