TECHNOPRENEURS & THE TECHNOLOGY EVOLUTION

TECHNOPRENEURS & THE TECHNOLOGY EVOLUTION

Technoprenuers are entrepreneurs who used technology as their driven factor in transforming resources into goods and services, creating an environment conducive to industrial growth. Technopreneurship is , by a large part , still entrepreneurship . The difference is that technopreneurship is either involved in delivering an innovative hi-tech product ( e.g. Intel) or makes use of hi- tech in an innovative way to deliver its product to the customer ( e.g. eBay) , or both (e.g. most pharmaceutical companies). Innovations are not confined to tangible products but also include services and processes.

DEFINITION OF TECHNOLOGICAL INNOVATION

Technology is the application of tools, materials , processes , and techniques to human activity.
Information Technology Biological based Technology Mechanically-based Technology

The use of technology is more prevalent in some industries than in others.

IMPORTANCE OF TECHNOLOGY STRATEGY

Technology strategy ha to deal much more with issues of uncertainty than general business strategy because technological change is highly uncertain. A very small portion of new technology ideas in new products or processes. Technology strategy involves the use of intellectual property management to capture financial returns to a much greater degree than general business strategy. Technology strategy involves the creation of new products and services that are sometimes new to the world , which demand different mechanisms for assessing market and needs and designing products than is the case with general business strategy.

Technological change occurs in ways that influence the design of effective strategies , and create business dynamics that are different from those that exist when new technology is important. Organizations faced with a great deal of technical change need to be structured , manage human resources , and design business models in ways that are different from organizations that are not faced with technical change. Making decisions about technology projects requires the use of different decision making tools than is the case with nontechnology projects.

Technological change opens up opportunities face many strategic issues, like standards and increasing returns that are much rarer with low technology businesses.

RADICAL AND INCREMENTAL TECHNOLOGY CHANGE

Aspirin Automobile Beta Blockers Computer Internet
Jet Airplane Medical Diagnostic Imaging

Personal Digital Assistant Superconductor Television

Operating system Mobile Telephone Transistor Digital Music Microprocessor Video Cassette Recorder Fiber Optics Organic Fibers Xerography Genetic Engineering Personal Computer

CREATIVITY AND THE BUSINESS IDEA

Source of New Idea

Consumers Exiting Products and Services Distribution Channels Government Research and Development

Methods of Generating Ideas

Focus Groups Brainstorming Problem Inventory Analysis

CREATIVE PROBLEM SOLVING

Brainstorming Reverse Brainstorming Brainwriting Gordon Method Checklist Method Free Association Forced Relationships Collective Notebook Method Attribute Listing Big Dream Approach Parameter Analysis

ILLUSTRATION OF PARAMETER ANALYSIS

Market Need Parameter Analysis

Technology Observation 1

Need Analysis 2

Parameter Identification 3

Creative Synthesis 4

Realization 5

invention which meets the need

The Invention Process

OPPORTUNITY RECOGNITION
Education Prior knowledge of markets and customer problems

Experience Entrepreneurial Alertness Outcome: successful opportunity recognition

Personal Experience

Work Experience

Network

PRODUCT PLANNING AND DEVELOPMENT PROCESS

Five

Major Strategies Idea Stage Concept Stage Product Development Stage Test Marketing Stage Commercialization