Prelim Exams

TECHNOPRENEURSHIP
Prelim Examinations
Part I: Define the following
1. Technology--the application of scientific knowledge for practical purposes, especially
in industry.
2. E-commerce--Ecommerce, also known as electronic commerce or
internet commerce, refers to the buying and selling of goods or
services using the internet, and the transfer of money and data to
execute these transactions.
3. Technopreneur-- an entrepreneur involved with high technology
4. Innovation- Innovation means literally "newness" or "renewal". The
word comes from the latin innovare. In colloquial and general use,
unspecific concept is used in the sense of new ideas and inventions
and their economic implementation.
5. Online business-- is any kind of business or commercial

transaction that includes sharing information across the internet.
Commerce constitutes the exchange of products and services
between businesses, groups, and individuals and can be seen as one
of the essential activities of any business.
6. Electronic network-- An electrical network is an interconnection of

electrical components (e.g., batteries, resistors, inductors,
capacitors, switches, transistors) or a model of such an
interconnection, consisting of electrical elements (e.g., voltage
sources, current sources, resistances, inductances, capacitances).
7.
8. Diversification- the action of diversifying something or the fact of becoming more
diverse.
9. Product knowledge--Product Knowledge Definition | Marketing

Dictionary | MBA Skool-Study.Learn.Share. What is Product
Knowledge? A better understanding of the product or service
offered by a firm that includes gathering information about the
characteristics, functional features and use of the offerings is called
product knowledge.
10. Invention- the action of inventing something, typically a process or device.

11. Networking - the action or process of interacting with others to exchange information
and develop professional or social contacts.
Part II: Essay

Why is Technopreneurship considered as an emerging concept of
business?-- When startup businesses, then there is an increase in the
pool of job opportunities as they need manpower to run all business
operations. In the same way, technopreneurship creates jobs and helps
the nation to combat the problem of unemployment. It increases the
employment rate of an economy.
Give at least 5 importance of Technopreneurship? Discuss each.
* Strong communication skills – you’re going to have lots of different people to

communicate clearly which is the investors, lawyers, accountants, customers,
and etc.
● Selling – you’ve got to be able to get in front of customers and pitch your
ideas and close the sales.
● Strategy or vision – where are you going and how do your current day to
day tasks get you there?
● Finance or Accounting – at least a basic understanding of the ways to raise
capital, the implications, and how to use financial statements for decision
making.
● Marketing or branding – how to craft and deliver your message to the right
audience in the right way.
What are the four types of entrepreneur and give example each.
1. Small Business Entrepreneurship

Today, the overwhelming number of entrepreneurs and startups in the United
States are still small businesses. There are 5.7 million small businesses in the
U.S. They make up 99.7% of all companies and employ 50% of all non-
governmental workers.
2. Scalable Startup Entrepreneurship

Unlike small businesses, scalable startups are what Silicon Valley
entrepreneurs and their venture investors do. These entrepreneurs start a
company knowing from day one that their vision could change the world. They
attract investment from equally crazy financial investors – venture
capitalists. They hire the best and the brightest. Their job is to search for a
repeatable and scalable business model. When they find it, their focus on scale
3. Large Company Entrepreneurship

Large companies have finite life cycles. Most grow through sustaining
innovation, offering new products that are variants around their core
products. Changes in customer tastes, new technologies, legislation, new
competitors, etc. can create pressure for more disruptive innovation –
requiring large companies to create entirely new products sold into new
customers in new markets. Existing companies do this by either acquiring
innovative companies or attempting to build a disruptive product inside.
Ironically, large company size and culture make disruptive innovation
extremely difficult to execute.
4. Social Entrepreneurship
Social entrepreneurs are innovators who focus on creating products and
services that solve social needs and problems. But unlike scalable startups
their goal is to make the world a better place, not to take market share or to
create to wealth for the founders. They may be nonprofit, for-profit, or hybrid.
The following are the traits of an effective Technopreneur. Choose

five (5) traits and explain each.
Are not born, but made.- Yes, you need to climb to rank up
or you need a mentor and Experience in order to be the
greatest
Is trained by a mentor. - You are more Knowledgeable

enough to conquer the outside of business because you are
taught by the greatest and with experience.
Is a calculated risk taker. - The greatest Profits comes in

Calculated Risks
Understand the needs of the customers. - Customers are like

money. You need to understand the needs of the many so you
can provide what they need in order to make profits.
Love what they do.- You must be passionate in things you

want to Grow. You cant last long in a Specific Thing if you
are not passionate enough.

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TECHNOPRENEURSHIP

5. Online business-- is any kind of business or commercial

6. Electronic network-- An electrical network is an interconnection of

9. Product knowledge--Product Knowledge Definition | Marketing

10. Invention- the action of inventing something, typically a process or device.

Part II: Essay

Give at least 5 importance of Technopreneurship? Discuss each.

* Strong communication skills – you’re going to have lots of different people to

1. Small Business Entrepreneurship

2. Scalable Startup Entrepreneurship

3. Large Company Entrepreneurship

The following are the traits of an effective Technopreneur. Choose

Is trained by a mentor. - You are more Knowledgeable

Is a calculated risk taker. - The greatest Profits comes in

Understand the needs of the customers. - Customers are like

Love what they do.- You must be passionate in things you

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