Technology Ventures: From Idea to OpportunityChapter 1: Summary
The empires of the future are the
empires of the mind.
Win...
Technology Ventures: From Idea to OpportunityChapter 1: concept
An entrepreneur is a person who undertakes the
creation of...
Technology Ventures: From Idea to OpportunityChapter 1: concept
For an entrepreneur, a challenge is a call to respond
to a...
Technology Ventures: From Idea to OpportunityChapter 1: Table 1.2
For an entrepreneur, a challenge is a
call to respond to...
Technology Ventures: From Idea to OpportunityChapter 1: concept
An opportunity is a
favorable juncture of
circumstances wi...
Technology Ventures: From Idea to OpportunityChapter 1: Table 1-3
An Entrepreneur Test: Are you an entrepreneur?
Answer ea...
Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.1 - Finding the Right Opportunity
• Timely
• Solvable
• I...
Technology Ventures: From Idea to OpportunityChapter 1: Entrepreneurial Capital
Entrepreneurial Capital
EC = Ecomp x Ecomm...
Technology Ventures: From Idea to OpportunityChapter 1: Economic Value
Economic Value = Opportunity x Entrepreneurial Capi...
Technology Ventures: From Idea to OpportunityChapter 1: concept
The intellectual capital of an organization is
the talents...
Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.2 – A Model of the Economy
Economy
Beneficial
Outputs
Und...
Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.3 – Transforming available inputs into desired outputs
Pr...
Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.4 – Causal Diagram
Causal Diagram
a) y increases as x inc...
Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.5
THE FIRM'S INTELLECTUAL CAPITAL
Human Capital Organizat...
Technology Ventures: From Idea to OpportunityChapter 1: concept
Dynamic Capitalism is the process of wealth
creation chara...
Technology Ventures: From Idea to OpportunityChapter 1: Principle 1
Principle 1
The entrepreneur develops an enterprise wi...
Technology Ventures: From Idea to OpportunityChapter 1: Venture Challenge
VENTURE CHALLENGE
Select a high-potential opport...
Technology Ventures: From Idea to OpportunityChapter 1: DVD Video
DVD Video
“The Genesis of Palm Computer”
Jeff Hawkins (P...
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Chap1

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Chapter 1- Entrepreneurship lecture International University- HCMcity

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Chap1

  1. 1. Technology Ventures: From Idea to OpportunityChapter 1: Summary The empires of the future are the empires of the mind. Winston Churchill What enables global capitalism? The entrepreneur provides the creative force in order for capitalism (free enterprise) to work. Entrepreneurs strive to make a difference in our world and contribute to its betterment. They are also motivated by achievement, independence, and the accumulation of wealth. Summary
  2. 2. Technology Ventures: From Idea to OpportunityChapter 1: concept An entrepreneur is a person who undertakes the creation of an enterprise or business that has the chance of profit (or success).
  3. 3. Technology Ventures: From Idea to OpportunityChapter 1: concept For an entrepreneur, a challenge is a call to respond to a difficult task and the commitment to undertake the required enterprise.
  4. 4. Technology Ventures: From Idea to OpportunityChapter 1: Table 1.2 For an entrepreneur, a challenge is a call to respond to a difficult task and the commitment to undertake the required enterprise. The Elements of Overcoming a Challenge •Able to deal with a series of tough issues •Ability to create solutions and work to perfect them •Can handle many tasks simultaneously •Resiliency in the face of set-backs •Willingness to work hard and not expect easy solutions •Possess well-developed problem solving skills •Able to learn and acquire the necessary skills for the tasks at hand
  5. 5. Technology Ventures: From Idea to OpportunityChapter 1: concept An opportunity is a favorable juncture of circumstances with a good chance for success or progress. It is the job of the entrepreneur to locate new ideas and to put them into action. Thus, entrepreneurship may be described as the identification and exploitation of previously unexploited opportunities.
  6. 6. Technology Ventures: From Idea to OpportunityChapter 1: Table 1-3 An Entrepreneur Test: Are you an entrepreneur? Answer each question by checking Yes or No: Yes No • When I am faced with a challenge, I am confident that I can work through it ___ ___ • I want to be financially independent and be rewarded for my accomplishments ___ ___ • Trying something new is attractive, even if the risk of failure is significant ___ ___ • I'd prefer to gain independence and control my destiny ___ ___ • Building a new enterprise is important to me ___ ___ • My experiences during my youth and early career have shown me the benefits of starting a new enterprise ___ ___ • Starting a new business some day soon is always in my thoughts ___ ___ • I like working with others and can provide leadership when called upon ___ ___ • Our society and my family provide a strong, supportive base for my initiatives ___ ___ • I possess good technical skills and strong relationship skills in the industry I wish to enter. ___ ___ Add your total score for Yes and No: ___ ___ Seven or more Yes answers indicate that you may be ready to act as an entrepreneur in the near future.
  7. 7. Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.1 - Finding the Right Opportunity • Timely • Solvable • Important • Profitable • Favorable Context • Like to do the tasks • Like the challenge • Committed to do what is necessary • Skilled at the needed tasks The Sweet Spot An Attractive Opportunity Interests, Passions, Commitment Capabilities & Skills Finding the Right Opportunity
  8. 8. Technology Ventures: From Idea to OpportunityChapter 1: Entrepreneurial Capital Entrepreneurial Capital EC = Ecomp x Ecomm ► Ecomp = Entrepreneurial competence is the ability to: 1) to recognize and envision taking advantage of opportunity and 2) to access and manage the necessary resources to actually take advantage of the opportunity ► Ecomm = Entrepreneurial commitment is a dedication of the time and energy necessary to bring the enterprise to initiation and fruition.
  9. 9. Technology Ventures: From Idea to OpportunityChapter 1: Economic Value Economic Value = Opportunity x Entrepreneurial Capital After T years the market value is: MV = M x C x EV = M x C x Ecomp x Ecomm where: M = management efficiency and effectiveness C = context
  10. 10. Technology Ventures: From Idea to OpportunityChapter 1: concept The intellectual capital of an organization is the talents of its people, the efficacy of its management systems, the effectiveness of its customer and supplier relations, and the technological knowledge employed and shared among its people and processes.
  11. 11. Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.2 – A Model of the Economy Economy Beneficial Outputs Undesired Waste Outputs Natural Capital Financial Capital Intellectual Capital
  12. 12. Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.3 – Transforming available inputs into desired outputs Products & Services The Firm OutputsInputs Raw Materials Components & Modules Financial Capital Physical Assets Technologies
  13. 13. Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.4 – Causal Diagram Causal Diagram a) y increases as x increases b) y decreases as x decreases c) Entrepreneurial activity leads to increasing prosperity Entrepreneurial Activity Prosperity (c) (a) (b) y y xx Intellectual Capital Entrepreneurial Capital + + + + -
  14. 14. Technology Ventures: From Idea to OpportunityChapter 1: Figure 1.5 THE FIRM'S INTELLECTUAL CAPITAL Human Capital Organizational Capital Social Capital Customers Workers and Associates Firm's Mission and Purpose Suppliers Market Technology Society Competitors The Firm’s Intellectual Capital Human Capital Organizational Capital Social Capital A firm’s theory of its business is how it understands its total activities, resources and relationships.
  15. 15. Technology Ventures: From Idea to OpportunityChapter 1: concept Dynamic Capitalism is the process of wealth creation characterized by the dynamics of new, creative firms forming and growing and old, large firms declining and failing. Creative Destruction is the entrepreneurial activity of destroying old models and creating new models of doing business.
  16. 16. Technology Ventures: From Idea to OpportunityChapter 1: Principle 1 Principle 1 The entrepreneur develops an enterprise with the purpose of creating wealth and prosperity for all participants – investors, customers, suppliers, employees, and themselves – using a combination of intellectual and entrepreneurial capital.
  17. 17. Technology Ventures: From Idea to OpportunityChapter 1: Venture Challenge VENTURE CHALLENGE Select a high-potential opportunity that interests you and then use it for the venture challenge exercises at the end of each chapter. For example, you might consider one of these current trends in science and technology: mobile data applications, internet telephony, video podcasting, web services, nano- technology, clean technologies (including fuel cell, battery and solar), pandemic flu and biodefense treatments, and advancements in stem cell research. 1) Describe the opportunity that attracts you and why you think it is a new venture opportunity. 2) Describe the competencies and skills you and your team members possess. 3) What important stakeholders will you need to be successful? 4) Describe the passion and commitment you have for the opportunity. 5) Is this a good opportunity for you?
  18. 18. Technology Ventures: From Idea to OpportunityChapter 1: DVD Video DVD Video “The Genesis of Palm Computer” Jeff Hawkins (Palm Computer)

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