C1 Technopreneurship

BEE4613 Technopreneurship
Technopreneurship
BEE4613
Syllabus
Chapter 1:
Technopreneur & Technopreneurship
Chapter 2
Business Opportunities: Identification,
Evaluation & Selection
Chapter 3
Innovation and Technopreneurship
Chapter 4
Forms of Business Entities, Regulations and
Business Support System
Chapter 5
Business Plan
Chapter 6
Management of a Small Business
Chapter 7
Marketing
Chapter 8
Operations Management
Chapter 9
Financial Plan
Chapter 10
Issues on Technopreneurship
Assessment
Test 1 : 15%
Test 2 : 15%
Presentation : 30%
Business Plan Report : 40%
Final Exam : 0%
TOTAL : 100%
References
i. UiTM Entrepreneurship Study Group (2004).
Fundamentals of Entrepreneurship.
Pearson Prentice Hall.
ii. Peter F.Drucker (1993). Innovation and
Entrepreneurship. HarperBusiness
iii. W.Chan Kim, Renee Mauborgne (2005).
Blue Ocean Strategy. Harvard Business
School Publishing Corporation
iv. David H.Bangs, Jr (2001). The Business
Planning Guide, Advantage Quest
Publications.
Subject assignment
Business proposal
A group consists of max 6 students
Register group members
CEO/manager
Brain storming session
Type of business
Type of product
Commercial value..

How great we are?




Are they any
business
opportunities from
this scenery?

How many business should be established to
have all this stuffs inside your kitchen?

How about this messy room?

How about communication industry?

How about airlines industry?
Why we need an
entrepreneur?
Identify how many of
Business items (we have to pay).
Non-business items (free of charge)
Inside this lecture room???
Percentage???
% = Business items non-business items x 100%
Business items
Entrepreneur, Technopreneur,
Intrapreneur, Innovator,
Manager
Earlier Viewpoints (1700-1950s)

The word entrepreneur comes from
French word entreprendre

Entreprendre individuals who
undertake (the risk of new ventures).

Entrepeneur
Entrepreneur invests, transforms and
makes (profit or loss)
[Richard Cantillon, French economist]
In other words, goods are bought at a
certain price, value is added by
transforming (the least being to repack)
the goods, and the goods are then sold
at an uncertain price.
The task of forming an organisation
for commercial purposes
[Adam Smith 1977]
In his book, Wealth of Nations
The ability to foresee potential
through changes in the economy, and
to act on the demand thereby
created
The entrepreneur was said to
influence society by forming
enterprises and was in turn influenced
by society to recognise needs and to
fulfil through skilful management of
resources
[Jean Babtiste Say, 1903, French
Economist]
Entrepreneurs are economic agents
who transform resources into goods
and services, thereby creating an
environment conducive to industrial
growth [Carl Menger, 1871, Principles
of Economics]
Grain in field has
very low value
Milled flour for
baker has high
value
Bulk grain from
farmer has low
value
Bread at bakery
for sale has high
value
Delivered baked
bread is highest
value use
Priority 8
Priority 7
Priority 3
Priority 2
Priority 1
Intermediate steps in transformation
Source: David H.Holt. Entrepreneurship.
New Venture Creation Englewood Cliffs,
NJ: Prentice-Hall 1992, p.5
Mengers Model of Value-Added
Transformation of Resources
Entrepreneurship is a creative
destruction force that sees the
destruction of usual ways of doing
things by the introduction of new
improved ways
[Joseph Schumpeter, 1934, Austrian]
Entrepreneurship is a process, and the
entrepreneur is an innovator who uses
processes to challenge existing norms
via combinations of new resources
and methods in commerce.
Technopreneur
They are entrepreneurs who used
technology as their driven factor in
transforming resources into goods and
services, creating an environment
conducive to industrial growth
Innovations are not confined to
tangible products but also include
services and processes.
The continuous improvement in financial
sector
City bank, Air Asia
Entrepreneur seem to be the starters
and managers the followers
Initially, entrepreneurs also assume the
role of manager, but later the managerial
roles are delegated to the managers.
Managers do not start businesses, they
only manage them.
In the world of corporate business,
intrapreneurs emerge as that breed
who is a cross between managers and
entrepreneurs.
They work for the corporation but are
given the task of starting new ventures.
Any Questions?
What Is Entrepreneurship?
Nature of Entrepreneurship
It is a socio-economic phenomenon.
Engine of economic growth
Creator of wealth and employment.
What is Entrepreneurship?
It is a creative and innovative human act.
Ability to create and build a vision from practically nothing.
Vision requires willingness to take calculated risks.
It is a discipline, hence it can be learned Peter Drucker

Definition of Entrepreneurship

Entrepreneurship is the ability to create and build a
vision from practically nothing. Fundamentally, it is a
human, creative act. It is the application of energy to
initiating and building an enterprise or organization,
rather than just watching or analyzing. This vision
requires a willingness to take calculated risks both
personal and financial, and then to do everything possible
to reduce the chances of failure.

Entrepreneurship also includes the ability to build an
entrepreneurial or venture team to complement your (the
entrepreneur) own skills and talents. It is the knack for
sensing an opportunity where others see chaos,
contradiction, and confusion. It is possessing the know-
how to find, marshal and control resources, often owned
by others.
Professor J effrey Timmons (1990)

Entrepreneur Are Made and
Not Born
The entrepreneurial
mystique? Its not magic, its
not mysterious and it has
nothing to do with the
genes. It is a discipline. And
like any discipline, it can be
learned.
Peter Drucker

Why People Become Entrepreneurs?
Definition of an entrepreneur French word
entreprende meaning go between or enter to
undertake. A person who undertakes to organize,
manage and assume risks of business
How people become entrepreneur ? By Necessity
and Opportunity, Design and Default
Triggered by Social Disruption or Interruption
Entrepreneurs are created in good and bad economic
times.
Achievements and Financial Rewards for an
Entrepreneur.
Many begins but few make it.
Who Are The Entrepreneurs?

Paradigm shifters, innovators and opportunists
creative destroyers
Key change catalysts and agents
Wealth and employment creators
Economic engine drivers
Key actors of the Malaysian Economy
Entrepreneurs are made and not born
entrepreneurial propensity
You can be the entrepreneur - if you have what it
takes
People who like to be their own boss
People who has experienced a social disruption?
Necessity and opportunity entrepreneurs
Entrepreneurial Traits (1)
Most Important for Success:

Innovative & Opportunistic
Willingness to take risk
Initiative
Self reliance
Perseverance (keep trying to achieve
something)
Need to achieve
Self confidence

Important for Success:

Leadership
Competitiveness
Good physical health
Creative
High level of energy
Versatility

Least Important for Success:
Ability to get along
Patience
Well organized
Desire for money
Tolerate uncertainty
Need for power
Need for affiliation

Difference Between Entrepreneurship
And Small Business
Entrepreneurship
Innovation
Fast growth
Vision
Employment creation
Money making machine
Higher risk

Small Business
Little innovation
Static growth
Little vision
Family business
Earning a
livelihood
Low or minimum
risk

US Situation
About 1 million businesses are formed each year in the
US
Between 70 to 80% failed the first year of start-up
10% to 20% last through the next 5 years
Venture investment 1:10 success rate
Venture capitalists expects between 5 to 10 times
return

Source : US Statistics
Entrepreneurship Statistics
Do You Know?
6 in a million with a high tech business idea eventually
becomes a successful company that goes public / IPO.
Fewer than 20% of the funded starts-up go public.
Bankruptcies occur for 60% of the high tech companies that
succeed in getting venture capital.
Venture capital investors own a large part of the start-up by
the time it goes public: 70 % of hardware companies, 60%
of software companies and 50% of internet companies.
Source: US Statistics
Entrepreneurship Statistics
Do You Know?

Malaysian Setting &
Global Scenario

Mewujudkan masyarakat
saintifik dan progresif,
masyarakat yang
mempunyai daya
perubahan tinggi dan
memandang ke
hadapan, yang bukan
sahaja menjadi
pengguna teknologi
tetapi juga penyumbang
kepada tamaddun
saintifik dan teknologi
masa hadapan
Malaysia: Enterprising Culture And
Nation
Economic Paradigm Shifts 1950s to 2000s.
Wawasan 2020
Ministry for International Trade & Investment - SMIDEC
Ministry for Entrepreneurs & Co-0perative Development.
Multimedia Super Corridor 7 Flagships.
MSC Status Privileges & Incentives.
Strong Economic Growth & Social Innovation
Rapid Infrastructure Development.
Industry Promotion of Entrepreneurship: Enterprise 50 Awards, Ernst
& Young Malaysian Entrepreneur of the Year Award, Venture 2002,
MSC-IHL Business Plan Competition, MAVCAPs Cradle Investment
Programme
MSC Flagship Applications
E-Business
Telehealth
Smart Schools Multipurpose Card
R&D Cluster
Electronic Government
Worldwide
Manufacturing Web
Borderless Marketing
Centre
Technopreneur
Development
Malaysia Economic Transformation &
Drivers
1996
Source : Malaysias National Economic Action Council
Labour-driven
Labour-driven
Investment-driven
Productivity-driven
Knowledge-driven
1960 1995 1970 1980
Primary
Commodities
Assembly-type
Manufacturing
Medium-tech
Manufacturing
& Services
High-tech
Manufacturing
& Services
Knowledge-based
2005 2020
AGRICULTURE / PRIMARY COMMODITY
INDUSTRIAL / IMPORT SUBSTITUTION
TECHNOLOGY / FOREIGN DIRECT INVT
HIGH TECHNOLOGY / SERVICES
KNOWLEDGE BASED / INTELLECTUAL CAPITAL
NITA Vision
Social
E
c
o
n
o
m
i
c

Now
Connectivity of
networks
Equitable access to
information
Culture of learning
Information literate
ICT as a sector
Information as
commodity
Empowered citizens
Self-regulating
Self-controlled
Fostering creativity
Inclusive society
Strong families
Value creation
through knowledge
products and
industry
2020
United
Developed & secure
Strong moral and
ethical values
Democratic and liberal
Tolerant & Progressive
Competitive,
dynamic, robust &
resilient
Fair & equitable
distribution of
wealth
Knowledge
economy
I
n
f
o
r
m
a
t
i
o
n

&

C
o
m
m
u
n
i
c
a
t
i
o
n

T
e
c
h
n
o
l
o
g
y

ICT as a
SECTOR
ICT as an
ENABLER
Innovation for
WEALTH
CREATION
Innovation for
BALANCED
SOCIETAL
DEVELOPMENT
Innovation for
GOOD
GOVERNANCE
Malaysias
ICT4D
program for
Innovating
towards a
K-nation
I
n
d
u
s
t
r
y

S
o
c
i
e
t
y

G
o
v
e
r
n
-
m
e
n
t

K-economy
K-society
For balanced development through innovation, the ICT4D Framework shown, which draws
on the principles highlighted thus far, can be used as a guide.
Strategic Framework
Framing the Strategic ICT R&D
Agenda: Strategic Intent
Innovation for WEALTH CREATION
- All sectors of the Malaysian economy creating value and wealth
through successful participation in the emerging knowledge-
driven global economy

- Key focus: Knowledge-driven economy

Innovation for BALANCED SOCIETAL DEVELOPMENT
Inclusive community development through provision of life
changing ICT applications
Key focus: Knowledge society

Innovation for GOOD GOVERNANCE
Foster form of accountability and transparency in the process of
governance that enhance the quality of life of Malaysians

Key focus: Participating in governance for quality of life

Any Questions?

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