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SHIP IN
ECONOMIC
DEVELOPMENT
A Successful
Entrepreneur
A Successful Entrepreneur able to adapt and
make adjustments in the ever
changing world of the marketplace,
adaptation to new trends, technology,
products, and marketing strategies,
always working with the plan in mind, and
brainstorm with the team ways you can best
adapt to changes,
implement the necessary changes with the
thought always in mind that the plan is a
virtual living tool, not static doctrines that
would actually be worthless if one could not
adapt them to the ever changing
Needs and Wants
Biological Needs
Food
Water
Shelter
Needs and Wants
Societal Needs
Comfort/Luxury
Security
Entertainment
Love/Acceptance
The Concern of Economics
Land
Capital
Economic Resources
(The Factors of Production)
Human Resources
Labor
Entrepreneurs
The Three Basic
Questions
What to Produce?
How to Produce?
entrepreneurship
(Peter F. Drucker) the practice
of consistently converting
good ideas into profitable
commercial ventures.
Innovationthe
systematic act of turning
something (product, idea,
information, technology, etc.)
into a resource that is of high
value to its target market.
TECHNOPRENUERSHIP
Technology is
not necessarily hi-tech,
indeed does not always
have to be technical.
Technology is simply
defined asapplications
of knowledge to
What is technopreneurship then?
human work.
technopreneurship is, by a large part, still
entrepreneurship. The difference is that technopreneurship
is either involved in delivering an innovative hi-tech
product (e.g. Intel) or makes use of hi-tech in an innovative
way to deliver its product to the consumer (e.g. eBay), or
both (e.g. most pharmaceutical companies).
TECHNOPRENUERSHIP
High-tech and
entrepreneurial skills
are driving our economy back to
prosperity.
Technopreneurship-
merging technology prowess
entrepreneurial skills- is
the real source of power in today's
knowledge-based economy.
Who are THEY?
Types of Entrepreneurship
Arbitrage
Discovering the price gaps that exist
and acting on that margin to close the
gap
Buy low Sell high
Innovative
Discovering new trading opportunities
(Smith)
Discovering lower cost or new
technologies (Schumpeter)
BENEFITS OF
ECONOMIC GROWTH
Economic Growth
Factors affecting
Economic Growth
Thus:
Economic Growth and Development