IT Tools and Application in Business PDF

IT Tools and Application in Business Lesson 1 SANDER T. SEDANO, MIT  Lesson 1 An Overview to Technopreneurship Technopreneurship is formed when you combine "entrepreneurship" and "technology.” The process by which...

IT Tools and Application in Business Lesson 1 SANDER T. SEDANO, MIT  Lesson 1 An Overview to Technopreneurship Technopreneurship is formed when you combine "entrepreneurship" and "technology.” The process by which people's lives progress. Generate innovations in all aspects of human life. Creative and skilled mind is needed. Opportunity to take a less-traveled path to tremendous success. Technology in the Context of Business Impact of technology on business operations is significant. A company's culture, efficiency, and connections can be influenced by its technological infrastructure. Impacts how the company secures its confidential information while maintaining its competitive advantage.  Technology: A Driver of Entrepreneurship Because of the comfort it brings, the standard for future products and services is raised even higher, making the entrepreneurship market a battleground of unique ideas and innovative minds. INVOLVEMENT OF TECHNOLOGY IN THE ENTREPRENEURSHIP Technology as a Tool in Technology as a Technology as the the Development, Platform in Marketing Product or Service Manufacturing, or Production Process. Software Hardware Peopleware Entrepreneurship in a Nutshell Crucial terms are business and idea. Entrepreneurship is the process of developing an innovative idea and forming it into a business. Entrepreneurship in a Nutshell The people who engage themselves in this process are called entrepreneurs. Concrete utilization of technology to help transform a business endeavor into an entrepreneurial endeavor means Technopreneurship  Timing Matters One of the critical components of success is timing Most difficult to discern and control All financially successful people have this in common  Timing Matters if time is not suitable for you, things might not work in your favor Bad timing can damage an otherwise successful career; good timing can convert a mediocre product into a blockbuster success  Lesson 2 The E-Commerce Trend Any commercial transaction is done with the help of the internet. If you have sold or bought something online, you were already involved in e-commerce. The first e-commerce activity was recorded in 1969 when CompuServe, the first significant e-commerce company, was founded.  Lesson 2 The E-Commerce Trend Mobile devices have also significantly contributed to its popularity, creating traffic on e-commerce sites.  Most Common E-Commerce Models Business to Business (B2B) Business to Customer (B2C) Business to Government (B2G) Customer to Customer (C2C) Analytics Made Easy in E-Commerce Scientific discovery, interpretation, and communication of patterns found, especially in extensive data. Can reveal necessary information like customer behavior and preferences that entrepreneurs can use to improve customer service. Analytics Made Easy in E-Commerce It suggests what may happen next based on what happened in the past and the present. This can be a basis for effective decision-making.  Lesson 3 Businessman VS Entrepreneur VARIABLE BUSINESSMAN ENTREPRENEUR Meaning A businessman sets up a business with An entrepreneur is a person who an existing idea offering products and starts an enterprise with a new idea services to the customers. or concept, undertaking commercial activities. Market Position Market Player Market Leader Nature Calculative Intuitive Market Creates place in existing markets Creates new market Risk factor Less Comparatively high Methods applied for Conventional Unconventional doing things Approach Holistic Atomistic Orientation Profit People Competition Very high Low  The Entrepreneurial Mindset Things you need to consider if you are an aspiring entrepreneur: Plan and accomplish; Set and visualize your goal Time is a resource even the slightest detail counts Be outcome-oriented Mind makeover Focus Entrepreneurial Key Success Factors A critical success component is the willingness to act Entrepreneurial knowledge Entrepreneurial creativity Entrepreneurial skills Entrepreneurial intelligence Patience Entrepreneurial Key Success Factors Persistence Ability to work with a team Taking calculated risks Self-confidence Experience Connections