ENTREPRENEURSHIP is a process and the entrepreneur is an innovator who uses processes to
challenge existing norms via combinations of new resources and methods in commerce.

Technopreneurs 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 consumer (e.g.
eBay), or both (e.g. most pharmaceutical companies).
Technopreneurship has a high correlation with science and technology. Technopreneurship
technopreneurship education, and providing the infrastructure to perpetuate and support
new start-ups and ventures.
Technopreneurship requires strategic thinkers – in order to succeed in a rapidly changing
global environment and to achieve long-run sustainable competitive advantage.

TECHNOLOGY is the application of tools, materials, processes, and techniques to human
Types of Technology:

Information technology – the use of zeros and ones in digital form on computers and the
use of systems (especially computers and telecommunications) for storing, retrieving, and
sending information.
Biological based technologies - those used to create new drugs or to clean up pollution
Mechanically based technologies - technological developments to the creation of useful
machinery or products or those that make pumps or valves.
Thus, the word “technology” or the phrase “technological innovation” is not only
associated with internet and computer software – It is also about new microorganisms,
new devices, new processes and new products.
The use of technology is more prevalent (laganap) in some industries than in others. – This
means that those industries are the ones in which an understanding of technology
strategy is important to entrepreneurs and managers.

INNOVATION is the process of using knowledge to solve a problem. Innovation is different from
invention. Invention is the "creation of a product or introduction of a process for the first time."
While Innovation happens when someone "improves on or makes a significant contribution" to
something that has already been invented.

The use of knowledge to apply tools, materials, processes, and techniques to come up with
new solutions to problems. – and helps companies to keep up within the competition.
Technological innovation can be planned or accidental. – PLANNED because many
companies invest in research and development with the goal of coming up with an
innovative new product or process that will give them an advantage, over their
competitors. ACCIDENTALLY, For example, Pfizer was not looking for a solution to the
problem of erectile dysfunction when it came up with Viagra. The solution to this problem
was merely a side effect discovered in tests of the drug for its intended purpose of treating
angina in cardiac patients.


Technological innovation doesn’t have to be profitable. - Companies, can, and do, come up
with solutions to problems that they can’t make any money exploiting. So a big part of
technology strategy is coming up with ways to make money from technological innovation.
There are many different kinds of technological innovations. - They can come from any
kind of technical knowledge, from knowledge of computer science to knowledge of biology
to knowledge of new materials. Moreover, technological innovation can take the form of
solutions to a variety of different kinds of problems from speeding production to
introducing new products that meet customer needs to facilitating distribution.
There is not a direct, one-to-one, relationship between technological change and new
products or processes. - Some new technologies may lead to only one, or even no, new
products or processes, while others might make possible a very large number of them.


Technological innovation is an important source of value creation. - The application of
knowledge to human activity allows for the more efficient production of existing products
and services (that is, production that takes less money or effort) and allows for the

But. while also maximizing the effectiveness of the change effort. as researchers work on the minimize employee resistance and cost to the organization. Technological innovation has a profound effect on the creation of wealth for individual entrepreneurs and corporate shareholders. Wealth creation = creation of products and services based on technological innovation Technological innovation has a major impact on our lives. Technological change occurs .As the technology gets better. technological innovation allows us to provide burn victims with artificial skin. . with its performance improving. o the way in which we look for information has been dramatically altered by internet research o how we get around was forever changed by the airplane and the automobile o life expectancy has been greatly lengthened by medical diagnostics and treatments. IMPORTANCE OF TECHNOLOGICAL STRATEGY Technological innovation did not say anything about companies needs to develop a strategy to manage innovation. and involves small improvements to existing technologies. economic. and design business models . . High-technology businesses face many strategic issues – like standards and increasing returns that are much rarer with low technology businesses since it involves application of new tools. or defend an existing technology-oriented competitive advantage erosion Technology strategy is different from overall business strategy in several important ways:         Technology strategy has to deal much more with issues of uncertainty than general business strategy because technological change is highly uncertain. and techniques. .Social. high growth businesses in ways not possible in other settings. and makes the cost of transportation cheaper. The evolution of technology is not entirely driven by scientific advance. Intellectual property has the real potential to create competitive advantage and bring considerable value to an organisation when managed appropriately and effectively. .A good example of an incremental innovation is Intel's 486 microprocessor. For example.Understanding the current state of the organization.A good example of a radical technology is the digital camera. Technology strategy involves the creation of new products and services that are sometimes new to the world. .  creation of products and services that meet needs that were not previously satisfied. . – Technological change is very broad and cannot be determined precisely. materials. Other times. Technological change opens up opportunities for new. Over time. Technology strategy involves the use of intellectual property management. but the changes that made it faster represented relatively small improvements to its basic technology. manage human resources. and political forces affect the path. But many observers believe that companies can. and should develop technology strategies. EVOLUTIONARY PATTERNS OF DEVELOPMENT    Technological advance begins with basic scientific discoveries and ends with commercial products that are adopted by a wide range of customers. it meets the needs of a wider range of potential customers. A very small portion of new technology ideas result in new products or processes. and involves a fundamentally new way of solving a problem. it emerges in a primitive form in which its usefulness is unclear. RADICAL AND INCREMENTAL TECHNOLOGY CHANGE   Most technological innovation is incremental. processes.understanding the nature and dynamics of technology and it recognised as an important driver of productivity growth Organizations faced with a great deal of technical change need to be structured. and products based on the technology are adopted by more and more users.It can be one of your organisations’ most valuable assets. which is based on fundamentally different technical principles from traditional chemical film technology. . technological innovation is radical. . This microprocessor was faster than previous generations of Intel's products. it evolves and develops. competently envisioning and laying out the desired future state of the organization and implementing the change in an orderly manner. Making decisions about technology projects requires the use of different decision-making tools.When new technology is first invented. TECHNOLOGY STRATEGY is the approach that a firm takes to obtaining and using technology to achieve a new competitive advantage.

are graphical representations of the development of a new technology. Compare some measure of performance (for example. speed. or capacity) with some measure of effort. cost. .Figure 2.4 Radical Technologies that have changed markets: Aspirin Internet Superconductor Personal Digital Assistant Automobile Jet Airplane Beta Blockers Medical Diagnostic Imaging Mobile Telephone Transistor Microprocessors Xerography Genetic Engineering Television Computer OS Video Cassette Recorder Fiber Optics Personal Computer Technology S-Curves .