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Module 1 Question 1 a. Define “Technology Entrepreneurship”.

(2 marks)

Technology entrepreneurship can be defined as a form of entrepreneurship and business leadership focused on identifying high potential, technology intensive business opportunity for possible exploitation into new products, processes or services. It can be based on revolutionary breakthrough in technology or technology advancement.

b. There are 3 sources of intellectual capital, identify and briefly describe these three sources. (6 marks) Human Capital The value that the employees of a business provide through the application of skills, know how and expertise. Human capital is an organization’s combined human capability for solving business problems. It is inherent in people and cannot be owned by organizations. Therefore, human capital can leave an organization when people leave. Human capital also encompasses how effectively an organization uses its people resources as measured by creativity and innovation. Structural Capital The supportive infrastructure processes and databases of the organization that enable human capital to function. Structural capital includes such traditional things as buildings, hardware, software, processes, patents, and trademarks. In addition, structural capital includes such things as the organization’s image, organization, information system, and proprietary databases. Because of its diverse components, structural capital can be classified further into organization, process and innovation capital. Organizational capital includes the organization philosophy and systems for leveraging the organization’s capability. Process capital includes the techniques, procedures, and programs that implement and enhance the delivery of goods and services. Innovation capital includes intellectual properties and intangible assets. Intellectual properties are protected commercial rights such as copyrights and trademarks. Intangible assets are all of the other talents and theory by which an organization is run.

licenses. . but also the less definable. The notion that customer capital is separate from human and structural capital indicates its central importance to an organization’s worth. such as customer interactions and relationships.Relational Capital Relational capital consists of more specialized items such as trademarks. franchises.

(12 marks) The key dimensions of entrepreneurship include risk. Opportunity exploitation – the exploitation of opportunities often result in the creation of a new enterprise or business as well as wealth associated with it. creativity and innovation. Entrepreneur take the risk in order to obtain the higher result that come from higher risk but are careful to evaluate the risk first.c. New enterprise should be beneficial to the society and make positive change. ideas and opportunities in a timely and speedy manner. Being creative and innovative are essential dimensions of newness. . Pro activeness – this refers to the propensity to act on information. Entrepreneurship can be understood by examining its 4 dimensions. Act at the right time and in the right manner on the superiority of an idea can differentiate between better successes or less success or even between success and failure. Identify and explain the 4 dimension. opportunity exploitation and pro activeness. Creativity and Innovation – creativity focuses on thinking of new things while innovation focuses on doing the new things. Risk – indicates elements of uncertain outcomes or events that is inherent in the process of exploiting an opportunity and starting business.

they should mind of risk factor in the future and the current time. the product or things produce by the company must be the new product and different from other product in the market. (20 marks) Risk – indicates elements of uncertain outcomes or events that is inherent in the process of exploiting an opportunity and starting business. The fresh and new product will get an attention from the buyers and make the business can compete with other company in the market. Creativity and Innovation – creativity focuses on thinking of new things while innovation focuses on doing the new things. If there are no innovation and creativity in produce the product to the market. Opportunity exploitation – the exploitation of opportunities often result in the creation of a new enterprise or business as well as wealth associated with it. New enterprise should be beneficial to the society and make positive change. Each opportunity in the business must be taken seriously by the businessmen to make their product get attention in the market. Being creative and innovative are essential dimensions of newness. more fully developed necessary technologies. They need the creativity to create or upgrade the current product in the market. and greater stakeholder . To enter the market. it’ll make the business cannot hold longer and compete with other big company in the same market. their company can easily crash down and cannot compete with others. Entrepreneur take the risk in order to obtain the higher result that come from higher risk but are careful to evaluate the risk first. They perceive more knowledge of customer demand for the new product. Give 4 dimension key and an advice. Each risk must be analyzed and come out with the solution for each risk factor to make the business growth smoothly. greater managerial capability. Without analyzed and care about the risk factor.Question 2 a. So for a new person who want involves in the business.

To satisfy latent customer needs. (15 marks) Idea Search and Generation Phase This phase also known as the opportunity formation or opportunity discovery phase and possibility to bring something new to the market. List and briefly explain each phase of entrepreneurship. Some key activities included at this stage is doing research and development work to invent or innovate a new technology based product. Idea Evaluation and Development Phase This phase is characterized by efforts to better understand what it will take to bring the idea into a full fledge economic activity or business. marketing pro-activeness firm explores new knowledge and markets considerably dissimilar from extant experience. prototyping and market test.support. Individual or groups of individuals enter this phase by either actively searching for business possibilities that they can offer in a better and more creative form or them discovering a solution for their own problem experienced that has potential of being shared with others. All the action must be taken quickly and each problem must be solved efficiently and quickly. concept testing. Moreover. Idea exploitation phase Characterized by the decision to pursue the business opportunity or not. Act at the right time and in the right manner on the superiority of an idea can differentiate between better successes or less success or even between success and failure. ideas and opportunities in a timely and speedy manner. Pro-activeness – this refers to the propensity to act on information. They involve 3 basic forms which is proceed to exploit the . Preparing the original technology blueprint. process or service. Question 3 a. the findings of this study shed a light on a less emphasized aspect of the resource-based view the new product’s anticipated lead time acts as an enhancing moderator in entrepreneurs’ exploitation decision policies.

.opportunity. abandon the current idea and go back to search for other ideas then lastly terminate the process totally and not pursue any other business ideas.

service or process. It is the ability to use imagination to develop new ideas. the means by which they exploit change as an opportunity for a different business or a different service Invention the extreme and riskiest form of innovation and often associated with development of a new or better product or process. Example : Mobile phone was regarded as a radical innovation (compared to the traditional ‘stationed’ phone) when it was first introduced to the market. Creativity the production of new and useful ideas as well as the ability to discover new ways of looking at problems and opportunities Innovation the specific instrument of entrepreneurs.Module 2 Q1 a) . invention. innovation. Examples: aero planes (Wright brothers).Define and state the different between creativity. Creating a totally new product. light bulbs (Thomas Edison). Give examples. new things or new solutions. personal GPS (Peter Maire) . These generation of ideas should lead to improved efficiency or effectiveness of a system It is the ability to apply creative solutions to problems and opportunities to enhance or to enrich people’s lives.

logical.e.exploring multiple possibilities and approaches from different perspective rather than pursuing in a conventional. and works outward in all directions.b) . i. by changing concepts and perceptions. LATERAL THINKING . backwards or upside down.gain new insights by forcing a relationship between almost anything ATTRIBUTE LISTING . (8marks) .break down the “thing” into smaller parts or characteristics and develop ideas to improve on them MIND MAPPING . step by step single approach. and generating new ones Q2 a) . (10marks) PROBLEM REVERSAL – look at the opposite of things.Discuss five (5) creativity techniques that can be use to stimulate and develop creative thinking skills. FORCED ANALOGY . producing a growing and organized structure composed of key words and key images. BRAINSTORMING – generating ideas based on the principle of suspending judgments. see things inside out.starts in the centre of the page with the main idea.Briefly describe four (4) other creativity methods that can be use to generating new ideas.

2. Four (4) phases creative process describe. and thinks “out of the box” iv. This may requires extensive reading. academicians. Inspirational – focuses on social change and the giving of self toward an end b) . (12marks) 1. is systematic. researchers in the field. “Sleep on it” …getting away from the subject matter and letting the subconscious mind working on it allows creativity to spring forth. b. enjoys writing. allowing the subconscious mind to muse or ponder on the information gathered. These explorations expose entrepreneurs to a variety of perspectives on the subject matter. c. Study the background of the subject matter b.i. discussion with experts. and relies on data iii. An individual immerse himself or herself in the data. Phase 1: Background or Knowledge Accumulation a. . exploring various unrelated areas etc. Imaginative – is able to visualize opportunities. attending workshops and seminars. Phase 2: The Mind Incubation Process a. practitioners. Innovative – concentrates on-problem solving.When a technoprenuer face problem they will start thinking in a novel way. Intuitive – focuses on results and relies on past experience to guide actions ii. is artistic.

There are a lot of possibilities of failures. Ideas are modified and tested before the best workable idea is put into a final form and successfully implemented. The rationale is new ideas often emerge when we are busy doing something unrelated to the matter. c. . This is when the person discovers the solution or the idea. b. 3. Incubation can be induced by: engaging in ‘mindless activities’ such as painting the house or cutting grass meditate or play sports or board games. At this phase. To expedite movement to idea experience a person can try to daydream and fantasies about the project and always keep a notebook to record emergence of ideas at odd hours. The idea may appear out of the blue or it may come incrementally. the person begins to formulate the solution. discipline & perseverance. This phase is the most difficult and requires courage. b. d. c.c. 4. Phase 3: The Idea Experience a. Most of the time it is difficult to tell the movement from phase 2 to phase 3. Phase 4: Evaluation and Implementation a.

Seven external factors for entrepreneurial opportunities are market involves determining the size of the market and the potential customers. and business ideas is a fundamental piece of the opportunity recognition puzzle. Second are resources including financial. and passion to pursue the business venture. Technical involves determining the requirements to proceed with the idea that include machineries. services and processes can be introduced and sold at greater than the cost of production b) Explain concept of window of opportunity Window of opportunity is defined as that too often short period of time during which an opportunity must be acted on or missed. Political and regulatory changes new regulations create opportunities for entrepreneurs to start firms to help companies comply with these laws. Social and cultural trends an understanding of the impact of social and cultural trends and how they affect new product. Financial involves determining the costs to be incurred in developing the business venture. Economic forces have a direct impact on the level of disposable income and consumer buying patterns. It also describes the time period in which a firm can realistically enter a new market the . service. physical. There are three internal opportunities factor. raw materials. Entrepreneurial opportunities are defined as situations in which new products. First are capabilities the ability or quality necessary to develop the business venture. Technological advances provide opportunities to help people satisfy basic needs and desires in a better or more convenient way. and human resources consistent with the magnitude of the business venture. Question 2 a) Define entrepreneurial opportunity Opportunities are an integral component of the entrepreneurial process. commitment.Module 3 Question 1 a) Explain 3 internal and 7 external factors that important to evaluate entrepreneurial opportunities. Third is interest the will. the processes and infrastructure.

.“window of opportunity” is deemed to be “open” or “close” to denote the degree of attractiveness or exploitation possibilities at a particular time.

If rejects the opportunity. If want to try this opportunity. then go to the technology-based idea blueprint for come out the basic and brilliant idea about the opportunity. we must consider three factors which is the product will give significant value to the customer. Make a choice between a wish to proceed with the opportunities that are available or not. The entrepreneur can attract the necessary financial. there shall be looking for another place and waiting for the other opportunity that will come. Entrepreneurial opportunity is define as a situation on which new product. The expected return of the venture is consistent with the risk of the venture. a technopreneur has t act an opportunity analysis process to make commercialization of new products. After that just exploit the opportunity to the maximum and hope get the good result in the end d) Identify the 3 factors to consider when making decision When make a decision. Must do a research about the opportunity then make a good decision. physical. . service and process to can be introduce and sold at greater than the cost of production. Beforehand.c) Using diagram. and human resources required by the venture opportunity. 3. illustrate steps in opportunity analysis process First once get an opportunity discovery we must evaluate the opportunity. service or process possible.

a. It is internal and external. it includes the knowledge. experience and skills. Illustrate the opportunity analysis process approach. One of the external factors is market. Describe any 5 factors that you think are likely to motivate technopreneur into business.The capabilities are the ability or qualities that are necessary to develop the business. Opportunity discovery Evaluate the opportunity Go Technology-based idea blueprint Exploitation of opportunity dicisio n Reject Look elsewhere b. commitment and passion to pursue the business venture. There are 2 types of factors of opportunity. Financial also have to be considered as the window of opportunity. Resource is one of the factors considered as a window of opportunity that can drive a technopreneur into a business venture. Technical is involves . It involves determining the costs to be incurred in developing the business venture. It involves determining the size of the market and the potential customer that may have. Interest is the will.

determining the requirements to proceed with the idea that include machineries. the processes and the infrastructure. raw materials. .

The source of business idea includes patent office. . It considered as reliable sources of business ideas on various fields.4. It provides an endless stream of research findings that can be commercialized. Other than that. The Intellectual Property Corporation of Malaysia is an agency under the Ministry of Domestic Trade. Examples of research institutes in Malaysia include the Malaysian Agricultural Research & Development Institute (MARDI). Standards and Industrial Research Institute of Malaysia (SIRIM). the university research and development is one of the sources of business idea. Discuss this source of business ideas and opportunities. This agency can be a good source of business ideas that can be retrieved easily from their online patent search and patent gazette hosted on its website. In addition research institutes also the one of the source of business idea. Local universities play an important role in providing knowledge that will help businesses grow into new market segments and develop new products. one can utilized certain sources that may already have ideas and even research finding that can be accessed. In the process of searching and discovering new ideas and opportunities for the technology-based business. Cooperative and Consumerism.

<4m> • generate adequate cash flow and profits • withstand the risks it will encounter • remain viable in the long term and • meet the goals of the founders QUESTION 2 . materials. <16m> The 1st feasibility study is market feasibility study. management team. competitors and market share. Information in the financial feasibility study should include start up capital. and profitability analysis. The 2nd feasibility study is technical feasibility study. customers. compensation. The market feasibility study is an assessment of the overall appeal of the market for the product or service being proposed. Aspects of technical feasibility study that should be carried out include technology and equipment. The financial feasibility study is an assessment of the financial aspect of the business. market demand. An organizational feasibility study is concerned with determining whether the business has the necessary and sufficient human resource to bring a particular product/service idea to market successfully. supporting services. manpower and location. Aspects of organizational feasibility study that should be carried out include organization structure. The last feasibility study is financial feasibility study. A technical feasibility study is concerned with determining whether the business has the necessary technology and equipment to produce the intended product/service.MODUL 4 QUESTION 1 a) Four(4) business areas examined in context feasibility study. b) Four(4) expected outcome of a feasibility or viable business ideas. financial sources. There are 4 aspects of market feasibility study which is product or service. The next feasibility study is organizational feasibility study.

Target market defined as the group of customers with needs and wants that can be satisfied by the business through the supply of product or service. A service is defined as any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. . use. the business not only has to identify who are the major competitors but also the number of competitors in the market. Subsequently as the business progress and has more resources it can broaden into other market segment which it has not served before. lifestyle. The 4th is competitors. The information on market demand is critical in determining the viability of a proposed product or service. Competitors refer to other businesses that provide similar. substitute or alternative product/service to the same market segment. or consumption that might satisfy a need or want. it is imperative for the business to identify who their competitors are as well as their strengths and weaknesses. Customers refer to individuals and households. Customer assessment involves determining who are the customer/s the business wishes to serve. Before any product or service enters the market it should meet the prospective customer’s needs and wants. The 2nd aspect is the customer. number of houses in the target market and competitors’ sales. Market demand can be calculated based on the following factors. The 3 rd one is market demand. A product is defined as anything that can be offered to a market for attention. The purpose of market segmentation is to enable the business to satisfy the needs and wants of the consumers it has selected with the limited resources the business has. The target market can be segmented or broken down based on different criteria or factors such as age. marital status. <20m> The 1st aspect is the product or service. Market demand refers to the total potential purchase that is expected from the target market. population of the target market. The presence of competitors can affect immensely on the success of the business product/service that enter the market. Thus In order to establish a market niche and compete effectively. hobby. business organizations local as well as international and government organizations that buy product and services for consumption. and interest. geographical areas. In competitors analysis. acquisition. They are the target markets for the organizations’ product or service.a) Four(4) aspects of market feasibility study. Normally it is expressed in units or Ringgit.

Aspects of organizational feasibility study that should be carried out include organization structure. compensation and supporting services. An organizational feasibility study is concerned with determining whether the business has the necessary and sufficient human resource to bring a particular product or service idea to market successfully. manpower and location.QUESTION 3 a) Three(3) reasons for conducting feasibility study. Aspects of technical feasibility study that should be carried out include technology and equipment. materials. A technical feasibility study is concerned with determining whether the business has the necessary technology and equipment to produce the intended product/service. The 2nd that will be discussed is organizational feasibility study. management team. <14m> The 1st one is technical feasibility study. . <6m> • Provide a thorough examination of all issues and assessment of probability of business success • Give focus to the project and outline alternatives • Narrow business alternatives • Surface new opportunities through the investigative process • Identify reasons NOT to proceed • Provide quality information for decision making b) Discuss any 2 main components of feasibility study.