IMPORTANCE OF TECHNOREPRENEURSHIP
IMPORTANCE OF TECHNOREPRENEURSHIP
Employment creation – technopreneurs create employment for themselves and other people. They are employers, and hence assist in solving the unemployment problem in the country.
Local resources – When technopreneurs utilize local resources, the value of these resources increases.
Decentralization and diversification of business – technopreneurs are able to identify business opportunities and locate these businesses in suitable areas, including rural areas.
Promotion of technology – By being creative, entrepreneurs are able to contribute to the utilization and development of technology.
Capital formation – technopreneurship increases capital formation and investment.
Promotion of a technopreneurial culture – By projecting successful images, technopreneurs become models than can be copied by young people.
Entrepreneur and Entrepreneurship defined
Entrepreneurs - are people who enter into new and pioneering ventures. They do not copy another’s idea. He or she may find an existing idea to be good but he/she brings improvements on it before introducing it to the market.
Most entrepreneurs start at being self-employed but eventually hire other people to help them in the business.
Entrepreneurship – starting up a new business. It entails employing people.
4 Types of Entrepreneurship
1. Incremental – routine business, modest novelty
Example new coffee shop, BPO
2. Imitative – imitation of ventures, same business model and template
Example: new regional branch, franchised operations
3.) Rent-seeking – Business that utilizes standards, regulations, and laws to share in value of enterprise
Example: Coca Cola Export
4.) Innovative– Business based on innovation
Example: new memory chip
IMPORTANT ENTREPRENEURIAL TRAITS
Hard Working: running a business requires a lot of energy and drive. This involves the ability to work for long hours when necessary, to work intensely in spurts and to cope with less than a normal amount of
Employment creation – technopreneurs create employment for themselves and other people. They are employers, and hence assist in solving the unemployment problem in the country.
Local resources – When technopreneurs utilize local resources, the value of these resources increases.
Decentralization and diversification of business – technopreneurs are able to identify business opportunities and locate these businesses in suitable areas, including rural areas.
Promotion of technology – By being creative, entrepreneurs are able to contribute to the utilization and development of technology.
Capital formation – technopreneurship increases capital formation and investment.
Promotion of a technopreneurial culture – By projecting successful images, technopreneurs become models than can be copied by young people.
Entrepreneur and Entrepreneurship defined
Entrepreneurs - are people who enter into new and pioneering ventures. They do not copy another’s idea. He or she may find an existing idea to be good but he/she brings improvements on it before introducing it to the market.
Most entrepreneurs start at being self-employed but eventually hire other people to help them in the business.
Entrepreneurship – starting up a new business. It entails employing people.
4 Types of Entrepreneurship
1. Incremental – routine business, modest novelty
Example new coffee shop, BPO
2. Imitative – imitation of ventures, same business model and template
Example: new regional branch, franchised operations
3.) Rent-seeking – Business that utilizes standards, regulations, and laws to share in value of enterprise
Example: Coca Cola Export
4.) Innovative– Business based on innovation
Example: new memory chip
IMPORTANT ENTREPRENEURIAL TRAITS
Hard Working: running a business requires a lot of energy and drive. This involves the ability to work for long hours when necessary, to work intensely in spurts and to cope with less than a normal amount of