technopreneurship; contraction of word technology Crucial Component for Business; excellent market Importance of Technopreneurship; using

and entrepreneurship; entrepreneurship that opportunity; market team; resources are required technology to fulfill various purposes; it made
dwells with the field of technology; originated in people to connect to each other; provided benefits
Weakness of Business; risk averse people; lack of
1990’s (who takes calculated risk in the to a society or nation
collaboration; like of academe-industry linkages;
technological world)
lack of international certification; (1) creates employment
Technology; advancement of people way of living. (2) local resources
Meruvian Roadmap;
(3) business diversification and
Entrepreneurship; deals with marketing product
(1) builds nation; multitalented people; human decentralization
and services
intellectual based economy (4) technological advancements
Technopreneurship trilogy; technicians: (2) creates opportunity; well-educated people (5) capital information
entrepreneur: manager; technopreneurship with capabilities; 200+ mio resources (6) promotes entrepreneurial activities

Technopreneurship; suitable for people who are intellectual resource and natural resources Jim Rohn; if you want it, you’ll find way, if you
technology enthusiast, innovative, intelligent, complement each other in terms of growth don’t, you’ll find excuses
appetite
(3) gap arises; consumerism; 200+ mio Randall; the use of technology as an integral and
Technopreneurship; starts with brainstorming resources key element in the transformation of goods and
ideas: engages with creating a product or solution (4) laziness; richness of natural resources; services
for a problem that uses technological solutions natural based economy
Investors and financers
Bill Gates; Microsoft natural resources flavored by corruption and
economically and intellectually colonized
Steve Sons; Apple 1976
Technopreneurship Key Ideas;
Mark Zuckerberg; co-founder of Facebook: Meta
(1) discovering gaps and areas of needs
Talmon Marco; founder of H2Pro; Viber; VoIP
(2) can distinguish risk and uncertainty, good-
Jeff Bezos; Amazon eye for opportunities
(3) understanding of strength and making use
Larry Page and Sergey Brin; Google, September 4, of it
1998 (4) developing viable business model
Elon Musk; SpaceX, Tesla, The Boring Company, (5) monetizing audiences
Neuralink, OpenAI Uncertainty is an opportunity for innovation
Jack Ma; Alibaba Group Funding Ideas;
Technopreneur; high-tech ventures; service firms; (1) concept of Fs; friends, family and foes
delivery or design of high-tech product (2) assessing angles; private equity, angel
Business; start from ideas; customers and investors and public offers
consumers does not buy ideas they buy product or (3) collaboration; partnership; participatory
services; customer and consumer pay the price, investment
they get value
Mindset; determine people’s behavior, outlook and Importance of Entrepreneurial Mindset; complexity
mental attitude; of economy requires creativity, flexibility,
innovation, interdependence
Mindset; menntal inertia: paradigm: group think
Inculcation and acculturation; process needed to
Dr. Carol Dweck of Standford University; defined
implement through programs and activities
two categories of mindset
Importance of Entrepreneurial Mindset;
Fixed Mindset; closed minded; limited mindset
(1) acculturation process; changing mindset
Growth Mindset; thinks outside the box, open
and building the culture
mindset
(2) entrepreneurial society; risk taker,
Entrepreneurial Mindset; entrepreneurial talent; innovative, creative and supportive
entrepreneurial mentality; open and can be (3) entrepreneurial capital; human,
modified anytime knowledge, intellectual, physical, financial
and social
Growth; think big, start small, move fast (4) entrepreneurial economy; job creation
Entrepreneurial Mindset; (5) economic growth; higher income

(1) works without supervision

(2) self-motivated
(3) creates quick-decisions
(4) handles stress
(5) open-minded and flexible
(6) focused
(7) persistent

Mindset and Behavior; 3 intertwined concepts;

(1) Knowledge and Skill; technical skills and

knowledge
(2) Motivation; intrinsic: responsibility,
intention; extrinsic; role models, rewards
(3) Attitude; risk taking, creativity and
innovative

Behavior; Explicit; attitude

Mindset; Tacit; involuntary

Aptitude; Implicit; natural talent

 that differs significantly from the unit’s previous (f) Increased profits
products or processes and that has been made
Innovation; transforming something that exists Types of Innovation;
available to potential users (product) or brought
Idea; thoughts generated in our minds into use by the unit (process) (a) Incremental innovation; innovating the
existing ideas or products
Innovation; derived from Latin word: novus that Idea management; structured process of
(b) Disruptive innovation; could disrupt the
means new: innovare, to renew, restore or change generating, capturing, discussing and improving,
equilibrium in the market
organizing, evaluating and prioritizing valuable
Idea; derived from Greek word: idein that means to (c) Sustaining innovation; improves existing
insight or alternative thinking that would not have
see: ennoia, act of thinking products and services
emerged through normal process
(d) Radical innovation; revolutionary
Tom Freston; born in 1945, co-founder of MTV; Idea management; about getting feedback from
innovation is taking two things that exist and stakeholders for the purpose of possible product
putting them in a new way releases
William Brody; born in 1944, scientist; What is the Innovation; making invention into product form;
calculus of innovation about changing patters; based on broad set of
Theodore Levitt; 1925-2006, renown economist; strategic, marketing and technical skills
creativity is thinking up new things, innovation is Creativity; communicated novel ideas and is useful
doing new things and appealing; fuzzy idea clarified by making
Albert Einstein; 1879-1955, mathematician; you prototype; thinking up new things
can’t wait for inspiration, you have to go after it ; Creative idea serves as the bridge to innovation
with a club
Entrepreneurship; result of disciplined, systemic
Thomas Edison; 1847-1931, inventor; I have not process of applying creativity and innovation to
failed, I have just found 10,000 ways that won’t needs and opportunities in the marketplace
work
Creativity; ability to develop new ideas and
; there’s a way do it better, find it discover new ways of looking at problems and
Bob Iger; born in 1951, media executive; the opportunities
riskiest thing we can do is just maintain the status Innovation; ability to apply creative solutions to
quo problems and opportunities to enrich people’s lives
Chinese proverb; when the winds of change blow, and the society
some people build walls and others build windmills Advantages of Innovation;
Warren Bennis; 1925-2014, scholar; innovation – (a) Keeping process organized
any new idea – by definition will not be accepted (b) Developing creativity
first (c) Increasing the business’ competitiveness
Oslo Manual of Innovation; a new improved (d) Increasing productivity
product or process (or a combination of thereof) (e) Adding value to a product or services
 (d) Inconsistency; each service provided is not (a) Convenience product; inexpensive product
the same as before (b) Shopping product; requires comparison:
(e) Involvement; customer and provider must expensive
be present and participate (c) Specialty product; irreplaceable products,
what consumers seek
Product, services and branding; refers to tangible Three (3) types of services;
(d) Unsought product; product unknown to
and non-tangible products that is offered coupled consumers
(a) Business services
by a promotion or maybe by advertisement
(b) Social services
Types of industrial products;
Product; offered for sale (c) Personal services
(a) Materials and parts
Product; from medieval Latin word productum that A product need;
(b) Capital Items
means ‘something produced’ (c) Supplies and services
(a) To be relevant
Service; an intangible product offered (b) To be communicated
Organization, persons, places and ideas;
(c) To have a name
Branding; promotion: distinctive design used for (d) To be adaptable (a) Organization marketing
advertisement (b) Person marketing
Product life cycle;
; every product is made at cost and each is sold at a (c) Place marketing
price (a) Introduction stage (d) Social marketing
(b) Growth stage
; price depends on the market, the quality, market, Three levels of decisions;
(c) Maturity stage
marketing segment (d) Decline stage (a) Individual product decisions
Product; anything that can be offered in a market (b) Product line decisions
Product and Services Classification;
for attention, acquisition, use or consumption that (c) Proud mix decisions
might satisfy a need or want. (a) Consumer Products
Branding strategy; brand positioning, brand name
(b) Industrial Products
; products can be physical or virtual selection, brand sponsorship and brand
Levels of Product and Services; Kotler attributed development
Services; form of product that consists of activities, the five levels to product;
benefits or satisfaction Brand equity; brand positive recognition
(a) Core product; purpose of a product
; services are intangible Advantages of branding;
(b) Generic product; qualities of the product
The five (5) I’s of Services; (c) Expected product; benefits of consumers (1) Brand name makes easy to be recognizable
expect to get after purchase (2) Attracts customer
(a) Intangibility; cannot be touch: only can be (d) Augmented product; factors that (3) Legal protection
experienced differentiate itself from other products: (4) Helps in segmentation
(b) Inventory or perishability; cannot be branding (5) Corporate identity
stored; provided when availed. (e) Potential product; augmentation and
(c) Inseparability; customer and provider Advertising slogan; short, memorable phrases for
transformation that product may undergo
cannot be separated in providing service: advertising campaigns
in the future
production and consumption is
simultaneous Types of consumer products;
Strapline; secondary sentence attached to a brand
name

Packaging;

(1) Primary; core product

(2) Secondary; contains primary packaging
(3) Shipping; contains bulk quantity

Advantages of packaging; protection against

damage, assistance in marking, provides self-
service, portability

Labeling; printed information in a packaging

Team formation; forming of group of person
working together for a purpose

Team; Proto-Germanic word tekana means to hold

or grasp

Formation; old French word formacion means

creating or making

Team; group of people with difference skills that

shares a common goal

Formation; act of forming or creating something

Three types of teams;

(a) Process improvement team; improving or

developing specific processes
(b) Work groups or natural groups; different
roles, hierarchy of work
(c) Self-managed teams; day to day operation

Bruce Tuckman with Marry Ann Jensen in 1977

added adjourning (mourning) in the mode of team
formation

Tuckman’s model of team formation (1965);

(a) Forming; familiarizing with the other

members
(b) Storming; disagreement is constant,
questioning the purpose of the project
(c) Norming; resolving differences
(d) Performing; team is processing, works
together, functions at its best
(e) Adjourning; disbanding about reaching the
common goal