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Top 10 Enduring Elements of Technology Entrepreneurship Professor ...

Source: www.stanford.edu
Topic: Entrepreneurship

Sort Desciption: What is high-technology entrepreneurship? What is the difference between an ... High-tech entrepreneurship is a style of business leadership based on the ...

Content Inside: of 2 Top 10 Enduring Elements of Technology Entrepreneurship Professor Tom Byers Stanford University Stanford Technology Ventures Program (http://stvp.stanford.edu) 1. What is high-technology entrepreneurship? What is the difference between an idea and a business opportunity? High-tech entrepreneurship is a style of business leadership based on the process of identifying high-potential technology-intensive business opportunities gathering resources such as talent and cash and managing rapid growth using principled real-time decision- making skills. An attractive business opportunity consists of a great value proposition technically feasible products strong intellectual property a sustainable competitive advantage a large potential market and a proven business model. It can be based on either a revolutionary breakthrough in technology or an evolutionary advancement; and it can target an existing market or create an entirely new one. This entrepreneurial process is relevant for both independent startups and within established corporations. Disruptive technologies are particularly interesting as discussed in Christensens Innovators Dilemma. See Technology Ventures by Dorf and Byers as a textbook. 2. Why do ventures require dynamic leaders who understand vision strategy risk and tactics? Entrepreneurship is a process that involves identifying and reducing four major types of risks over time: people technology market and financial. This is accomplished by the right combination of vision strategy and execution. Although a compelling vision (e.g. core values and mission) and a set of strategies (e.g. product and market) are important it is often execution that differentiates great companies from good ones. An A+ team and adaptable leadership can guide a venture through its challenging journey of growth and adversity where everyone works diligently on clear goals. Built to Last by Collins and Porras is an excellent reference as is Competing on the Edge: ...

top ten enduring elements of entrepreneurship

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