(TECHNOPRENEURSHIP REVIEWER)

Entrepreneurship - is the activity of setting up a business or businesses.

Entrepreneur- A person who start a business or with intention of making money.

Types of entrepreneurship

1. Social Entrepreneurship

- Solve Social problems

- Social Good

- Big profits or wealth

2.Small Business Entrepreneurship

- Small Business

- Support their family

- Own Business

- Local grocery

3. Scalable Start up Entrepreneurship

- Create Solution

- Missing in the market

- Hire Specialized employees

4.Large Company Entrepreneurship

- Small will become big

- sustain innovation

-New services and products

Principle of entrepreneurship

✓ Have a vision

✓ Choose the right team

✓ Good Product/Service

✓ Know your customer

Theory of Entrepreneurship
1.Innovation Entrepreneurship theory - What makes entrepreneurs different from normal
businessmen is finding innovative solutions and having foresight.

• Joseph Alois Schumpeter- one of the greatest economists, put forth the well-known innovative
theory which changed the entrepreneur’s perspective.

• According to Schumpeter, entrepreneurs take the stationary economy to a new level of

development by adding innovation and creativity of their own.

2.Economic Entrepreneurship theory – the entrepreneur operates in a market economy through the
firm, of which the entrepreneur is the founder or owner-manager

• According to Cantillon, an entrepreneur acts as both ‘producers’ and ‘exchangers’

3.Sociological Entrepreneurship theory - This theory talks about the social aspects of
entrepreneurship. ,(social taboos, customs, culture, & other religious beliefs,)

4. Opportunity based Entrepreneurship theory

- involves exploring and taking advantage of opportunities that can bring about positive outcomes for
individuals, communities, and businesses alike.

5.Resource-based Entrepreneurship theory - This theory states that entrepreneurs need resources
to start and carry their businesses

Importance of entrepreneurship

Entrepreneurship plays a significant part in economic growth. Entrepreneurs influence the economy
through creating a new position and opportunities, promoting innovation, and creating new markets,
products, and services.

✓ Peter Druckery " ENTREPRENEURS ARE MADE AND NOT BORN"

• TECHNOPRENEURSHIP - a simple entrepreneurship in a technology intensive context. It is a process

of merging technology prowess and entrepreneurial talent and skills

WHO IS A TECHNO-PRENEUR?

✓An entrepreneur who uses cutting edge technology to develop new business. (Daniel Mankani,
2003)

✓Is an entrepreneur who involves himself in technological changes in producing goods and services
for his organization. (Sarimah Hanim & Abd. Rashid , 2008)

✓They are entrepreneurs who use "technology" as their driven factor in transforming resources into
goods and services, creating an environment conductive to industrial growth.
 2 TYPES OF TECHNOLOGY ENTREPRENEURSHIP

1.TECHNOLOGY DEVELOPERS - Those who develop unique technology capable of driving a new
business.

2.TECHNOLOGY USERS - those who see a new technology and understand how it can be applied to
meet a new market need.

FAMOUS TECHNOPRENEURS

✓Steve Jovs (Apple)

✓Bill Gates (Microsoft)

✓Mark Zuckerberg (Facebook)

✓Sergey Brin and Larry Page (Google)

PHILIPPINE BUSINESS LANDSCAPE

✓Small and midsize enterprises (SMEs) - are businesses that have revenues, assets, or a number of
employees below a certain threshold.

✓The government has specifically passed Republic Act 8289, commonly known as the Magna Carta
for Small Enterprises, which intends to assist and strengthen the development of SMEs, especially
those that are headquartered in rural and agricultural areas.

The Law of SME‘s

• Republic Act (RA) 6977 (the Magna Carta for Small Enterprises) - Enacted by the Philippine
Congress in 1991, Magna Carta is a landmark legislation that mandates the government to support,
strengthen and promote the development of SMEs by:

High Technology Industry

> entities doing business in the computing, electronic components, telecommunications (including
cellular) equipment, networking equipment and/or consumer electronics markets.

EXAMPLES OF HIGH TECHNOLOGY INDUSTRIES

> Pharmaceutical industry

> Aeronautics and space manufacturing

> Automotive manufacturing

Sunrise Industries- usinesses which are new and growing fast.

IT Industries- Includes computers, telecommunications, and micro electronics.

WHAT ARE THE 5 HIGH TECH COMPANIES?

 GOOGLE

 AMAZON

 APPLE

 META

 MICROSOFT

• CYBERPRENEURSHIP - Cyberpreneurship is a step or way to promote a product/service via internet

technology.

• CYBERPRENEUR - Individual who takes risk to start an IT business, Have vision to improve his/her
business.

✓ Five Areas of Cyberpreneurship

1.Digital Information

2.Physical Products

3.Brand Builders

4.Sponsorship

5.Consultancy and Services

• SELLING DIGITAL INFORMATION PRODUCTS- Selling digital information is the lowest entry barrier
for any cyberpreneurs.

• SELLING PHYSICAL PRODUCTS- Cyberpreneurs can also sell physical products similar to traditional
brick-and-mortar entrepreneurs

•SELLING SPONSORSHIP - Another advantage that a good cyberpreneur can create and sustain a
thriving online community around your personal or business brand.

• SELLING CONSULTANCY AND SERVICES - Entrepreneurs who have specific skills and knowledge and
offers it to customers via online can also be defined as Cyberpreneurs

• SELLING BRANDS - Being an online entrepreneur, you will have the ability to build brands and
promote them across various digital platforms and social media.

CREATIVITY AND INNOVATION AND NEW

 TECHNOLOGICAL PRODUCT DEVELOPMENT

✓CREATIVE PROCESS AND TECHNIQUES

TYPES OF CREATIVITY

A. DELIBERATE AND COGNITIVE CREATIVITY People who process deliberate and cognitive
characteristic are purposeful. They have a great amount of knowledge about a particular subject and
combine their skills and capabilities to prepare a course of action to achieve something,

B.SPONTANEOUS COGNITIVE CREATIVITY - There are times when you spend a long time to crack a
problem but can't think of any solution

C.SPONTANEOUS AND EMOTIONAL CREATIVITY-

Spontaneous and emotional creativity takes place in the “Amygdala” part of the human brain.
Spontaneous ideas and creativity happen when conscious and prefontal brain is resting this type of
creativity is mostly found in a great artist such as musicians painters and writers etc.

CREATIVE PROCESS

A.PREPARATION - Successful creations are preceded by investigation and information gathering. It

can be achieved by gathering information from journals, attending meeting, seminars, etc.

B. INCLUBATION- Creative person allows their sub consciousness mind to dwell over tremendous
amount of ideas and information accumulated during the

preparation phase.

C. INSIGHT-This is the moment when the person is able to locate solution to their problems.
Generally in most of the cases ideas comes to person in incremental way. The person improves on
solution slowly and steadily.

D. EVALUATION-This phase is regarded as the most emotional trying part. When one feels uncertain
and insecure and thinks about reaction of other people.

E. ELABORATION - The implementation of an idea or solution in the creative process model is when
an individuals begins the process of transforming his/her thoughts into a final product.

CREATIVE STRATEGIES

A creative strategy is a blueprint your company creates that outlines how you plan to meet specific
goals and objectives, Like your company's brand identity, marketing, and long-term business growth.
 TEN QUESTION TO ASK BUILDING YOUR CREATIVE

STRATEGY

1. What is our brand voice?Your brand voice is your company's personality. Your voice encompasses
not only what you say, but also how you say it. Essentially, your voice is how you want your audience
to feel about you through every form of communication

2.What are our primary objectives? Your primary objectives are the end goals you want to achieve
through your marketing campaigns.

3. Choose your success metrics Success metrics-also known as KPls- will help you track how well
your strategy is performing against your primary objectives. Knowing your metrics from day one can
give you time to determine how best to track them.

4. Determine your message and target audience -Your message and your target audience comprise a
significant portion of your creative strategy.

5.Set a budget-You can set an accurate budget for your creative strategy by outlining everything you
think you'll spend money on. Items you should include in your budget may include.

6. Create a timeline -Sticking to a timeline can keep your project within budget and ensure that your
end user is satisfied.

7. What will our deliverables be? After identifying what your customers or clients want, you can
make creative assets that fit that need.

8. What marketing channels will we use? Your target audience likely uses specific marketing
channels depending on their demographics.

9. What is our budget?Your project budget determines how you plan and carry out your creative
ideas.

10. How much time do we have to develop the creative strategy?Building a creative strategy takes
time because if you're not thorough during the planning stage, the execution stage will go vary.

• INNOVATION - It is implementation of new ideas at the individual, group, organizational level.

TYPES OF INNOVATION

• INVENTION - Describes as the creation of a new

product, service or process. It is something that has not been tried before.

•EXTENSION - The expansion of an existing product,

service or process.

•DUPLICATION- Copying (replication) an existing

product or service and then adding the duplication entrepreneurs own creative touch in order to
improve it.
• SYNTHESIS- A combination of more that one existing products or services in to a new product or
service

✓ ANALYTICAL PLANNING - Carefully identifying the product or service features, design as well as
the resources that will be need.

✓ RESOURCE ORGANIZATION-Obtaining the required resources, materials, technology, human or

capital resources.

✓ IMPLEMENTATION-Applying the resources to accomplish the plans.

✓ COMMERCIAL APPLICATIONS- The provision of value to customers, reward to employees, revenues

to investors and satisfaction for founder.

SIX MYHTS OF INNOVATION

1.Innovation is Not About Playing Catch Up- Adopting Modern Advertising and Sales Promotions
practices when everybody else in the industry has done so is not

about innovation,

2.Pivoting is Not an Innovation-Pivoting is about changing strategy. Not all pivots can be classified
as an innovation.

3.Invention is Not an Innovation-An invention is also not an innovation until commercial success is
attained.

4.Innovation is Not Necessarily About Tech Disruption-mang Inasal’s market-driving innovation is

not about technological disruption. Proof that you can innovate without technology

5.Innovation is Not About Being First to Launch -Innovation is not about the first to launch, but the
first to succeed and succeed continuously

6.Continues Improvement is Not Innovation-Continuous Improvement, or building on whatever an

organization already has,

THE ROLE OF INNOVATION

Innovation plays a variety of roles in entrepreneurship. It is essential to the development and success
of businesses.

•Driving Competitive Advantage- Entrepreneurs may set themselves apart from competitors by
acquiring a competitive advantage in the market through innovation.

•Identifying Opportunities-Innovation allows entrepreneurs to identify and seize market

opportunities that others may overlook.

•Creating Value-The creation of value for consumers,

stakeholders, and the economy is one of the main roles of innovation

•Enhancing Efficiency and Productivity- Innovation can lead to improved efficiency and productivity
within entrepreneurial ventures.

•Solving Societal Challenges- Entrepreneurship innovation can address pressing societal

challenges and contribute to positive social impact.

Four BENEFITS AND ADVANTAGE OF INNOVATION IN ENTREPRENEURSHIP

1.Market Differentiation -Innovation allows entrepreneurs to differentiate themselves from

competitors by offering unique products, services, or business models

2.Enhanced Customer Experience Innovation allows - entrepreneurs to enhance the customer

experience by providing new and improved solutions.

3.Positive Social Impact- By tackling societal issues and enhancing lives entrepreneurial innovation
may have a beneficial social influence

4.Competitive Edge-Innovation provides entrepreneurs with a competitive edge by

staying ahead of competitors.