GROUP 1

ENT6103

TECHNOPRENEURSHIP

PROGRAM:

IJAZAH SARJANA MUDA PENTADBIRAN PERNIAGAAN (KEUSAHAWANAN)

BBA (ENT)

NAME: ANIDA BINTI AHMAD

MATRIX NUMBER: I14100056

LECTURER NAME: MUHAMAD FAIROS BIN MOHAMAD SHAH

TECHNOENTREPRENEURSHIP

QUESTION 1

Base to business opportunity, innovation and technoentrepreneurship. Advise prescription

and how to generate more profit (sale/customer) in accelerate their business growth?

Answer

1) Sale
i- Business Opportunity
A business opportunity involves sale or lease of any product, service,
equipment, etc. that will enable the purchaser-licensee to begin a business.
Business opportunity involves the sale or lease of any product, service,
equipment and so on that will enable the purchaser-licensee to begin a
business.

The licenser or seller of a business opportunity declares that it will secure or

assist the buyer in finding a suitable location or provide the product to the
purchaser-licensee.The licenser-seller guarantees an income greater than or
equal to the price the licensee-buyer pays for the product when it's resold and
that there's a market present for the product or service.

ii- Innovation

Fundamentally, innovation means introducing something new into your

business. This could be:

 Improving or replacing business processes to increase efficiency and

productivity, or to enable the business to extend the range or quality of
existing products and/or services
 Developing entirely new and improved products and services - often to
meet rapidly changing customer or consumer demands or needs
 Adding value to existing products, services or markets to differentiate
the business from its competitors and increase the perceived value to
the customers and markets
 Introducing innovation can help entrepreneur to:

 improve productivity
 reduce costs
 be more competitive
 build the value of your brand
 establish new partnerships and relationships
 increase turnover and improve profitability

iii- Technoentrepreneurship

By utilizing technopreneurship, it is known that entrepreneur are saving the time and
distance through cost of marketing and shipping. That a business can be open
anytime anywhere, making purchases from different region easier and more
convenient. The electronic devices and social network (Blogger, Facebook, twitter,
etc) are able to shorten the lead time business spend on receiving and delivering
goods or services, creating an instant competitive advantage in the small business. It
means that the business process become much simple and easier to the both of
suppliers and consumers.

Then, it can maximizing revenue and profits. This is turn increases productivity which
ultimately gives rise to profits that means better pay and less strenuous working
conditions. The young entrepreneur will optimize the resources by decreasing the
raw material cost but gaining profits as many as possible through the utilization of
technopreneurship toward their business.
 2. Customer

I. Business opportunity
Entrepreneurs often live with the hope that if they build it, customers will
come. Here are few steps that customer can accelerate the business growth

 Develop new product lines - survey your customers about new products

 Find new customers - new customers can help grow your business

 Find new markets - use market research to determine if you could expand your
business into new areas

 Customer service - improve your customer service and develop a staff training

program

 Price discounts - consider price discounts and promotions to increase your

customer base (e.g. 2-for-1 deals or happy hour)

 Retail displays - use effective retail displays to increase your sales

II. Innovation
When faced with a customer need, problem or bottleneck in their business,
smart innovators first thoroughly search to see what is out in the market place
already that would serve the purpose. Likewise, those of us who may not
have that innovative ability can take the same approach. By being early
adopters of relevant innovations, we can gain most of the advantage of those
that are doing the innovation.
III. Technoentrepreneurship
 Simple and Fastest Way to Promote and Popularize The Product
Customer can order from website through Google Spreadsheet attachment.
Moreover, today Google has the new breakthrough to facilitate the small
business to use the Google business platform to market and promote their
products.
 Maximizing Revenue and Profits

This is turn increases productivity which ultimately gives rise to profits that
means better pay and less strenuous working conditions. The young
entrepreneur will optimize the resources by decreasing the raw material cost
but gaining profits as many as possible through the utilization of
technopreneurship toward their business.