Doc.

Code: ACA-QF-05
Revision No.: 02
Effective Date: May 21, 2020
ISO 9001:2015
Certified
Doc. Code: ACA-QF-05

Revision No.: 02

Effective Date: May 21, 2020

Name: Belano, Jason

Course: BSInfoTech
Year: 3rd Year
Section: A

 What is Technopreneurship? (10 points)

Answer: It is implied by the term, it is a combination of two words such as “technology” and
“Entrepreneurship”. Systematically, it is a kind of entrepreneurship in the field of technology.
The process of technopreneurship is a combination of technological advancements and
entrepreneurial skills. In the products and services transformation, an integral part of
technopreneur is technology.
 Discus the Importance of Technopreneurship (20 points)
Answer:
 Creating Employment Opportunities
When startup businesses, then there is an increase in the pool of job opportunities as they
need manpower to run all business operations. In the same way, technopreneurship creates
jobs and helps the nation to combat the problem of unemployment. It increases the
employment rate of an economy.

 Local Resources
Various natural and productive resources are available that every entrepreneur can utilize
for business success. The usage of local resources increases its value and reduces the rate of
resource wastage.

 Business diversification and decentralization

An Entrepreneur can find out the business opportunities and locate them in areas that are
suitable including remote areas.

 Technological advancement
By being a creative and innovative technopreneur, they play an important role in the field of
utilization as well as the development of technology.

 Capital formation
Investment is an integral part of a business and an Entrepreneur requires funds to start up and
take their business to the new heights. They take financial assistance from the investors and
financiers and utilize the public savings that lead to economic development.

 Promotion of entrepreneurial activities

1|Page
 The young generation gets a chance to work with such technopreneurship firms and learn nuts
and bolts how to get success. It also inspires these teammates and employees to grow and start
up their business firms too.

 Discuss the difference of Entepreneurship vs. Technopreneurship (15 points)

Answer:
Entrepreneur
•Likes to compete
•Is a self-starter
•Is able to do many things at once
•Is creative, and has dreams and goals
•Likes to work for him or herself and be in control
•Is motivated by a strong desire to achieve and attain financial success
•Focuses his/her attention on the chances of success rather than the possibility of failure

Technopreneur
•Likes to innovate
•Is part of a team
•Is able to do many things at once, but chooses to delegate
•Is innovative and has a greater vision
•Likes to be the one to control innovation and be part of an evolution
•Is motivated by a strong vision and his passion to innovate
•Takes failure in stride and knows it will lead to success if correction can be made

 Types of entepreneurship (give at least 5)

Answer:
 Small business entrepreneurship
 Large company entrepreneurship
 Scalable startup entrepreneurship
 Social entrepreneurship
 Innovative entrepreneurship
 Hustler entrepreneurship
 Imitator entrepreneurship
 Researcher entrepreneurship
 Buyer entrepreneurship

 Give the Characteristic of small business (at least 10)

Answer:
1. Willing to Take a Risk
Many successful small business owners leave good jobs – this is just one indication of their willingness to
take risks. Another is investing their own money when getting a return is far from guaranteed. After all,
there is a big difference between spotting an opportunity in the market and going for it.

2. Driven to Succeed

2|Page
Successful small business owners are also very driven, constantly working to improve multiple aspects of
their lives, including their career and their business. Resting on laurels or being happy with the status quo
is alien to them.

3. Focused on Achieving Goals

Being able to set and then focusing on achieving goals is another important character trait. This includes
short-term, medium-term, and long-term goals, plus it includes regularly reviewing progress and making
adjustments as required.

4. Confident, Enthusiastic, and Passionate

Successful small business owners are good at inspiring those around them whether that is clients,
employees, business partners, suppliers, or family members. This requires confidence, enthusiasm, and
passion.

5. Self-Motivated and Self-Reliant

There is often no-one to get you going in the morning or help you through the day when you are a small
business owner. Therefore, being self-motivated and self-reliant are essential character traits.

6. Ability to Separate Work and Family Life

Running a small business requires hard work and, sometimes, long hours, particularly in the early years.
Working constantly to the detriment of family life, however, quickly leads to burnout. Small business
owners that make a success of their company are good at switching off when they go home – often
literally when it comes to mobile phones and laptops.

7. Seek Advice from Experts

Successful small business owners know they don’t have all the answers. In addition, even when they do
think they are making the right decision, they are open to other opinions. This is why the best small
business owners regularly seek advice from mentors, financial advisors, accountants, and other experts.

8. Invest in Technology to Improve and/or Automate Processes

Technology can improve productivity and the service you offer to customers, so successful small business
owners are willing to invest.

9. Invest in Marketing
When things are tight, marketing is often the first thing that gets cut. Forward-thinking small business
owners, however, understand the essential role that marketing plays in making a business successful.
Therefore, they invest, in good times and in bad.

10. Closely Monitor Their Finances

Reading financial reports is not the most interesting aspect of running a business, but it is absolutely
critical. Successful small business owners understand this.

3|Page