1.Intro to Entrepreneurship
The word “entrepreneur” derives from the French words entre, meaning between,” and prendre, meaning “to take.” The word was originally used to describe people who “take on the risk” between buyers and sellers or who “undertake” a task such as starting a new venture. Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control. Entrepreneurship is the art of turning an idea into a business.
Corporate Entrepreneurship is the conceptualization of entrepreneurship at the firm level. All firms fall along a conceptual continuum that ranges from highly conservative to highly entrepreneurial.
Three main reasons people decide to become entepreneurs:
Four main characteristics of successful entrepreneurs:
The Entrepreneurial Process Consists of Five Steps
Step 1: Deciding to become an entrepreneur.
Step 2: Developing successful business ideas.
Step 3: Moving from an idea to an entrepreneurial firm.
Step 4: Managing and growing the entrepreneurial firm.
Step 5: Exiting the venture.
2.How to choose a good company name
Thing to consider before named a company:
Thing to consider before named a company:
• a name which are connected to your nature of business
• a name which is meaningful
• a name which is easy to pronounce or remember
• a name which is very unique / different / extraordinary
• a name which is connected to future
• a name which should not be used by others
• a name which brings luck
• a name is combination of directors names
• a coined word which sound nice
• name of place connected to business
• a name which is extraordinary
• a name which is different of others
• a name which is futuristic sounding
• a name which is easy to spell
• a name which sounds good in different languages but has a meaning
• a name which bring power
3.Creativity in Technopreneurship
Creativity is the ability to see the same things as everyone else but think something different. Creativity involves the translation of our unique gifts and talents into something that is both new and useful. Creativity is an important element in finding new ways to do old things and ways to do things yet undone.
Components of Creativity
Creative Thinking refers to the ability to form new combinations of ideas to fulfil a need, or to get original or otherwise appropriate results by the criteria of the domain in question.
Being creative is the ability to think outside the box.
4.Innovation in Technopreneurship
• What is Innovation?
a new idea, method or device.
the process of making improvements by introducing something new.
the process of translating new ideas into tangible product.
the successful exploitation of new ideas.
A creative idea that is realized.
change that creates a new dimension of performance.
• Creativity & Innovation
• Creativity – coming up with ideas.
• Innovation – bringing the ideas to life.
• Creativity – displayed by individuals.
• Innovation – occurs in the organisational and societal context.
• Innovation Vs Invention
• Invention - the creation of new tools or the novel compilation of existing tool.
• Innovation occurs when someone uses an invention - or uses existing tools in a new way - to change how the world works, how people organize themselves, and how they conduct their lives.
Types of Innovation
5.Blue Ocean Strategy
Creating New Market Space
Creating New Market Space
To win in the future New Market Space, companies must stop competing with each other. Because the only way to beat the competition is to stop trying to beat the competition.
Red Ocean Vs Blue Ocean
