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- 2. TECHNOPRENEURSHIP course is designed as an introduction to the rapidly evolving world on creative new venture in Technology oriented business. This course intends to give an understanding of Technoprenuership fundamentals. The topics covered include marketing in information age, developing business plan, financing and marketing business, innovation and creativity, financial management, and products identification. Students will be exposed to various case studies on successful entrepreneurs such as Bill Gates of Microsoft, Steve Jobs of Apple, Michael Dell of Dell, Mark Zuckerberg of Facebook and Sergey Brin and Larry Page of Google After completion, we expect you to understand the following concept: Business Environment Business Management Operations capacity Resource planning Marketing Strategies Know how to build a good & viable Business Plan – how to make sales forecast & financial projection 2
- 3. Ishak Abd. Rahim MBA (UPM, Malaysia) Bsc (Oklahoma State University, USA) Certified Sales Coach (Miller Heiman Institute, USA) 17 years work experience Business Development Manager – Sapura Technology Berhad Senior Manager Airport Consulting– Malaysia Airports Berhad Sales Director – JenniferSoft (Malaysia) Country Manager – CHEP (Malaysia & Singapore) 3
- 4. Reality Check !!! 12 May 2015 Graduates, who have completed their studies in six months, are among the current 400,000 unemployed individuals in the country, said Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar. He added that according to statistics, 161,000 graduates, aged between 20 and 24 years, had yet to find a job. Why? Why? Why? 4 Articulate Innovative Strong common sense Communication skills 1 minute Ice Breaker: Talk to the person next to you Tell he/she the followings: Name Course Tell you friend where do you see yourself 10 years from today? The person you talk to will introduce you to the class.
- 5. 2 credit hours Mid Term Exam – 20% Business Plans – 50% Final Exam – 30% Delivery Methods ◦ Lectures ◦ Group work - every week Discussion & presentation of short case studies 5
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- 10. Min 4 , ideally Group of 5 Please choose a small business start-up that uses current technology or process innovation to solve current day-to-day problems facing by the people. Grading format ◦ 10 % - Presentation ◦ 40 % - Paper work Presentation & Submission of write up in CD format Week 13 & 14 / 9th & 16th December 2015 ◦ Oral Presentation – 15 minutes per group maximum ◦ Not more than 15 slides per Group incl. cover page ◦ It should be the summary of the Business Plan write up A group leader is responsible for the submission and presentation. Important Note: ◦ Additional 5% marks will be given to 100% class attendance and participation. ◦ A good booster to the borderline grades. ◦ ALL GROUPS MUST PRESENT DURING PRESENTATION & SUBMISSIONS. COMPULSORY. 5 MARKS DEDUCTIONS FOR NOT ATTENDING 10
- 11. Company called DASH What does DASH do? ◦ DASH mobile application turns any car into a "smart" car. ◦ It's a tiny device that plugs into your vehicle's diagnostics port (works with any vehicle made after 1996) that can read information about your vehicle, its performance ( such as learn how you can drive more economically) and location. ◦ It connects via Bluetooth to an Android- compatible mobile app. An iPhone version is "coming soon." How does it solve your problem? ◦ If your car breaks down, Dash can tell you exactly what's wrong and even give you an estimate of how much it'll cost to fix. ◦ If your car is in accident, you and your loved ones can be notified in real time. 11
- 12. Company called Plated.com What does it do? ◦ On a mission to help Americans eat better. ◦ Each week, seven recipes are featured on the Plated menu, including four healthy meat and fish options and three unique vegetarian dishes. ◦ You pick the recipe you want to prepare and eat, and Plated will deliver all of the pre-portioned meat, fish, spices, proteins, and produce -- plus a chef-designed recipe card. How does it solve problem? ◦ No more having to buy too much meat or spices for your simple dinner for one or two. 12
- 13. Weeks Dates 3 23/9 Group formation Decide type of business 5 7/10 Business Plan rough skeleton is ready, incl table content 6 -8 14/10 – 4/11 Data collection & Research 9-10 11 – 18/11 Financial projection and assumptions draft should be ready 10-11 18 -25/11 1st draft of Business Plan write up should be ready 12 2/12 Final draft of the write up should be ready. Develop presentation PowerPoint. 13 -14 9-16/12 Business Plan: Presentation & Submission session 1 & 2 13
- 14. Entrepreneurship is the development of a business from the ground up — coming up with an idea and turning it into a profitable business. Entrepreneurship entails recognizing the right opportunity, finding resources — such as funding and tools — to pursue the opportunity and creating the right team to do so. An entrepreneur is someone who can take any idea, whether it be a product and/or service, and have the skill set, will and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market, but make it a viable product and/or service that people want or need Many of history's top business leaders earned their success thorough entrepreneurship, including Henry Ford, Walt Disney, Coco Chanel, Ray Kroc, John Rockefeller, Mary Kay Ash, P.T. Barnum and Estee Lauder. Mark Cuban, Richard Branson, Bill Gates, Oprah Winfrey, Donald Trump, Martha Stewart and Russell Simmons are among today's most successful entrepreneurs. 14
- 15. Full Definition of TECHNOLOGY the practical application of knowledge especially in a particular area : ◦ medical technology a capability given by the practical application of knowledge ◦ a car's fuel-saving technology a manner of accomplishing a task especially using technical processes, methods, or knowledge ◦ new technologies for information storage the specialized aspects of a particular field of endeavor ◦ educational technology 15 Examples of TECHNOLOGY Recent advances in medical technology have saved countless lives. The government is developing innovative technologies to improve the safety of its borders. How can we apply this new technology to our everyday lives? The car has the latest in fuel- saving technology.
- 16. The term Technoprenuership was coined from the words “technology” and “entrepreneurship”. It was first used in the year 1987 but gained popularity due to the wide use of the internet during the second millennium. Some definitions ◦ Integration of technology, innovation and entrepreneurship ◦ Entrepreneurship in the field of technology. ◦ Firms in which technology plays a critical role in their operations. ◦ Manufacturing of hi-tech products or making use of hi technology to deliver product to consumers. Some people might just describe the word by simply stating names of famous people like Steve Jobs of Apple Inc., Sergey Brin and Larry Page of Google, Bill Gates of Microsoft, Mark Zuckerberg of Facebook 16
- 17. An intrapreneur is an employee who is given the authority and support to create a new product without having to be concerned about whether or not the product will actually become a source of revenue for the company. Unlike an entrepreneur, who faces personal risk when a product fails to produce revenue, an intrepreneur will continue to receive a salary even if the product fails to make it to production. characteristics of intrapreneurship include initiative, an ability to "think outside the box", risk-taking and leadership - all traits that are also possessed by successful entrepreneurs. The major difference between entrepreneurs and intrapreneurs is that the fruits of success default to the organization rather than to the intrapreneur. On the other hand, the intrapreneur also has the comfort of knowing that failure will not have a personal cost - as it would for an entrepreneur - since the organization would absorb losses arising from failure. 17
- 18. A classic case of Technoprenuer is that of the founders of Adobe, John Warnock and Charles Geschke. They both were employees of Xerox. As employees of Xerox, they were frustrated because their new product ideas were not encouraged. They quit Xerox in the early 1980s to begin their own business. Currently, Adobe has an annual turnover of over $3 billion. A classic case of Intraprenuer at 3M ◦ Idea: Sometimes, intrapreneurship happens by accident. Dr. Spencer Silver, a scientist at 3M, was attempting to create an extremely strong adhesive to use in aerospace technology. Instead, he accidentally created a light adhesive that stuck to surfaces well but didn’t leave a nasty residue. ◦ Result: Post-It notes were born and if you are the vast majority of desk workers you’re probably looking at a pad of them right now. 18
- 19. Some prominent success stories ◦ Mark Chang – JobStreet ◦ Pua Khein Seng – Inventor of USB Flash drive The Malaysian Government and government-related agencies have banded together to create a vibrant start- up environment with facilities that range from supporting mechanisms and policies, funding opportunities, physical infrastructure and business advisory services. Agencies like the Malaysian Global Innovation and Creativity Centre (MaGIC), Cradle Sdn Bhd and the Multimedia Development Corp (MDeC) are just some of the agencies that are geared towards that purpose. Recently, it was announced during Budget 2015 that the Government will introduce the Small and Medium Enterprises (SME) Investment Partner programme to provide assistance to those who are struggling with their start-up capital. Under the programme, an initial fund of RM375 million will be provided for a period of five years. Further, RM10 million will be allocated for the Business Accelerator Programme under SME Corp. Technopreneur Association of Malaysia provides supports and market access. In Feb 2014, JobStreet announced that it was selling its online employment business to Seek Ltd, Australia’s biggest online job advertising company, for RM1.73bil or approximately RM2.72 per share. Phison Electronics Corp is a public listed company in Taiwan that is valued at RM 4.3 Billion. This company was started by Pua Khein Seng who hails from Selangor. 19
- 20. Macro Micro Internal Question: How badly small businesses are affected by the weak performance of RM vs. USD? 20
- 21. 1. Economic trends: Will the economy enable your audience to make more purchases? Are economic shifts happening that impact your target audience? 2. Market trends: How is your market changing? What new trends could your company take advantage of? What kind of timeframe surrounds these new trends? Could it be a long-term opportunity? 3. Funding changes: Do you expect an increase in grant funding this year? How will funding changes help your business? 4. Political support: Do you anticipate a shift in political support this year? What opportunities could be created with new political partnerships? 5. Government regulations Are any regulations shifting that could lead to a positive change? 6. Changing relationships: Are there positive changes happening within any of your outside business relationships? Are vendors changing or expanding? Has your partner decided to move on, creating an opportunity to work with someone new? 7. Target audience shift: How is your demographic shifting? What opportunities can you think of that can move with these changing demographics? Is your audience expanding? If so, how can you capitalize on this increase? 21
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- 23. Revenue and Profitability ◦ Lower revenue does not necessarily translate into lower profitability. Established small-scale businesses often own their facilities and equipment outright, which, in addition to other factors, helps to keep costs lower than more leveraged businesses. Employees ◦ Small-scale businesses employ smaller teams of employees than companies that operate on larger scales. Market Area ◦ Small-scale businesses serve a much smaller area than corporations or larger private businesses. The smallest-scale businesses serve single communities, such as a convenience store in a rural township. Ownership and Taxes ◦ The corporate form of business organization is not well-suited to small-scale operations. Instead, small-scale businesses prefer to organize as sole proprietorships, partnerships or limited liability companies. These forms of organization provide the greatest degree of managerial control for company owners, while minimizing the hassle and expense of business registration. ◦ These businesses generally do not file their own taxes; instead, company owners report business income and expenses on their personal tax returns. Locations ◦ A small-scale business, by definition, can be found only in a limited area. These companies are not likely to have sales outlets in multiple states or countries, for example. A large number of small-scale businesses operate from a single office, retail store or service outlet. It is even possible to run a small business directly out of your home, without any company facilities. 23
- 24. Must have Management Skills as aTechnopreneur: ◦ Ability to plan, organize, lead and coordinate ◦ Ability to manage people ◦ Ability to make firm and quick decisions ◦ Understand business operations, processes and technical issues (ICT) ◦ Understand Risk Management ◦ Understand Financial reports ◦ Ability to Innovate ◦ Ability to create something from zero ◦ Excellent Problem solving skills ◦ Ability to be resourcefulness / Multi tasks ◦ Understand the different concept of Selling & Marketing ◦ Understand efficiency in Logistics ◦ Ability to communicate & negotiate contracts ◦ Understanding business legal issues ◦ Must develop strong sense of Integrity and accountability 24
- 25. The plan implemented by a company to generate revenue and make a profit from operations. The model includes the components and functions of the business, as well as the revenues it generates and the expenses it incurs. 25
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