Technopreneurship (TEC210/03 Solved)

Question 1 - Characteristics of a Technopreneur 

Mark Zuckerberg has become an important symbol of the American dream, introducing the largest informal organization Facebook. From a secular point of view, Mark is not another name for everyone internationally, yet mainly in the USA. Zuckerberg released "Facebook" at the age of 20 in 2004, critical in any way any expectation of a single day of globalization (Abdelhaey, 2019)

Characteristics of a Technopreneur

In any business venture, success or failure lies in the pioneer experience and how they manage and relate to representatives. As a business person, Mark is part of the novel's characters, determines his vision, and adds to his central purpose in his expertise organization. One of the common denominators of Mark is his enthusiasm for what he does and loves. While at school, he felt the lack of a network in the middle students also chose to address the issue by allowing her to play on stage, including his universities. By innovating, the first steps towards the process were skill and development of the vision he had. With advanced mechanics, Techies try to simplify it. Mark made an impression to connect with people online (Bhardwaj, 2021).

To be sure, the machines have been an exciting sight for Mark all their life. Every 12 years old, Zuckerberg compiled by Zucknet, using Atari BASIC. He and his colleagues are different computer games for entertainment only when he was just a child. Indeed, even before he could obtain degrees, many organizations such as Microsoft and AOL got his skills yet ruined their offers. Second, Mark is the One Who welcomes the extraordinary team and is the only one who should have real success. Most of the time, vision making an organization is not a work in progress. You have to be able to do it properly—human communication. As Mark indicates, people have a perception in your mind they are the best people to communicate with. In addition, employees must complement each other failure to promote success (Bhardwaj, 2021). Mark was interested in choosing the most intelligent people like him, too. His calling was in line with his own. Mark was a coder and designer and not a finance manager. In any case, he was lucky enough to do it at the very first level. He then used Sheryl Sandberg, who was appointed as the executive officer of Facebook and was assigned the organization's task (Hasanudin et al., 2021).

Since Mark Zuckerberg and Sheryl Sandberg couple have something in common beliefs, obligations, shared love, and reassurance. Marks is considered an influential pioneer. His colleagues portray him as a person who requires new ingenuity and continuous development. For him, thought and results are critical components of progress. Because of this angle, Mark has created an environment where staff can safely and unhindered let out their thoughts. As for what he may be worried about. He is strong, and his employees give more than they deserve. You arrive late and need more. However, he is a downtown person to see that representatives also need time off. Finally, Mark has the habit of "never saying bite the dust" (Abdelhaey, 2019).

As the most popular domain for friendship editing, there were various errors on Facebook and Mark Zuckerberg. They faced legal conflicts with previous editors and mystery questions; however, Facebook was there illegal in some countries. Despite these many problems, Mark Zuckerberg was not disappointed, nor was Mark Zuckerberg, and Facebook continues to thrive. In 2010, the Times called him Man of the Year, too Vanity Fair placed him at the top of the list for New Initiatives. His criticism was expected he was fully understood, and he saw it as the support of the creative mind, ingenuity, and proper behavior. As Mark points out, the power to hide the "noise" of others and shine is unlocked. His work is the foundation of his accomplishments in his professional career (Hasanudin et al., 2021).

Creativity and Innovation

Mark Zuckerberg had been chasing new skills that could boost confidence in the organization. One of his duties was to recruit the most elite people present. His actions followed his thinking process when he appointed Sheryl Sandberg, a former Google employee, as the new COO. It is done as Mark understands the truth about what Sheryl was not known for, relationship skills or relationship-building skills. He also acknowledged that, in general, the contribution of senior colleagues and staff is that the organization occupies such a prominent position in the world. Mark needed to bring a new skill that could work in important tasks (Bahadur and Naimatullah, 2021).

It is noteworthy that the best success of the founding and development comes from the chance of falling apart. The remarkable clinical progress is based on many missed clinical initiatives. I once found out about a pharmacy organization that hosted a party to honor the embarrassment of the first game, to emphasize that the collapse of the apartment is an essential factor in success in the end. In the process of completing a task, even if it eventually does bear fruit, many illustrations have been found that lead to new ideas (Saludung and Pramezwary, 2021). It is essential to make people feel engaged and ask them to stand up and try again, even if the outcome is not what anyone expected.

 

Question 2 - Artifical Intelligence company, Malasiya

Artifical Intelligence company, Malasiya

What used to be the motion pictures of science fiction has gradually turned into a piece of our daily presence. AI is a fast-growing industry with many opened doors to educated entrepreneurs. However, as AI organizations become generally, your launch should move the boat with innovation specials that set them aside. To compile an attractive AI object, consider the problems that organizations and people need your answers to, and you can do AI organization to solve them (Semsek et al., 2022).

Capital expenditure (CapEx) is a financial institution used to purchase, redesign, or maximize resource availability. The use of funds is intended to place resources in the economic well-being of the organization. Capital expenditure is a long-term activity, which means that purchased resources are helpful for one year or more. Capital use ("CapEx" for short) is an installment in one or another currency or a loan to buy tangible or fixed assets used in business activities (Semsek et al., 2022). Expenditure is enhanced (i.e., not directly deducted from the organization's salary announcement) in the financial record and is regarded as an entity's business in growing its business. CapEx is essential for organizations to develop and sustain their business by investing in new facilities, industry, gears (PP&E), materials, and innovation. Financial experts and financiers are very sensitive to the organization's economic performance. They do not initially appear in the definition of payment but can also significantly impact revenue (Ou, 2016).

Business Model

Figure 1: Business Model for AI startup, Malasiya (Source: Made by author)

Traditional Strategy - Startup worksheet

As shown in the framework below, the traditional strategy uses a startup sheet to design your basic support. The model here is a bike shop. Includes left-start startup cost plans, bottom left start resources, and right startup support. The total start-up cost in this model is $ 124,650, total cost ($ 3,150), and utilities ($ 121,500) expected before lunch (Ou, 2016). The financial plan on the right shows that the owner intends to donate $ 25,000 of their money and $ 99,650 for development. Progress includes $ 70,000 for long-term and various developments including business credit of $ 17,650, note $ 2,000, and other current $ (possibly Visa) obligations of $ 10,000. The other side shows the startup costs and the various shows where the money will come from. Also, note that resources include $ 35,000 in real money and financial balance (Loon and Chik, 2018). That gauge, in this model, comes from the model shown above, which operates at the cost of a $ 25,708 presentation fee. Business idea test $ 35,000 everything is equal, so you have a pillow. Remember, a sheet covering occurs before shipment. It does not include continuous deals, costs, expenses, resources, and post-delivery support.

This sheet model shows the expected $ 3,150 of pre-created costs (Ou, 2016). That is your essential misfortune when you start, which means that these costs can be deducted from later payments for payment purposes. This misfortune may seem so bad at an alarming rate, yet it is widespread in youth organizations. It is financially viable, as having the costs you will incur in future exams reduces your work debt.

Ways to reduce the first two years of Capital Expenditure

• Petrochemical and refined environments may falter in embracing the latest computer advances. Yet, the Internet of Things (IoT) makes it much more transparent and more efficient to use advanced skills to achieve efficiency in all situations. Increasing the development activities in support of a single region can significantly reduce costs (Yu et al., 2021).
• Limitations on Push Usage - Digital development is also used for process development. It is proven to work with faster, improved process control (APC) and, therefore, screen and control cycles to maintain high-efficiency gears and then transmit good performance resulting in extended creation and better yield.
• Funding expenditure may include approximately 33% of the total cost of the work performed, the majority of which is paid directly on loan application bases, professional fees, legal adviser fees, insurance installments, special charges, interest, amount security, and various costs (Yu et al., 2021). A large portion of these costs is not recognized or adjusted.

 

Question 3 - Implementation of Netflix business model to AI startup business model

a)

The Netflix app is a membership-based model that brings cash through important, standard, and premium membership programs while providing permission to stream series, shows, and animations on the Netflix streaming platform. Its operating system is brilliant. OTT (Over The Top) Outstanding Content Provider, Netflix provides media through web streaming (Euchner, 2016). AI’s innovative systems have shown that simply installing an app doesn't even help to change those patterns. More about organizations has attracted the interest of their large group who are interested in their products. The more an organization develops its applications, the more it will make a biological plan for the organization to improve (Linde et al., 2020). Organizations like Netflix make it easy to use, and cost-effective biology programs with their apps focused on the rapid development of renaming. The story of well-used technology has helped AI in the latest developments much better.

The benchmarks are:  

Having the most extensive customer base in the north of 195 million from one side of the planet to the other, the Netflix app honors a portion of the following related areas:

• The daily streaming volume on the OTT stage with zero promotions offers an unparalleled limit.
• Unlimited reception in HD and Ultra-HD TV programs, movies, and many different types of entertainment do not neglect to bother customers. Having a lot of related content allows an organization to never miss the mark about the content of any kind.
• The drug can be found in any region of the planet online. However, the registration is in the contract area; it is usually reduced (Asghari, 2022).
• Netflix has a very high level of advertising. It suggests content compared to what clients have recently seen, which in some way sees the motion pictures and many programs and ultimately expands their settings.
• Record sharing is probably the most unusual feature provided by Netflix. Clients share their records with anyone and engage with them (Stone et al., 2021).

Netflix has its way of building and deploying struggling organizations. Being familiar with the wishes of its customers, the organization knows how to build effective relationships with its beneficiaries.

b)

Implementation of Netflix business model to AI startup business model

As Netflix also installs apps on the web and is disconnected from streaming, AI can also do this in their business model. The eulogization from their customers attracts a lot of new ones and increases the value of clients. Uberization means helping many choices in the best way possible beyond the personality of the supporters. Over the years, especially in India, TV serials have set up multiple time programs to watch the same programs simultaneously (Thierry and Ludmila, 2016). In the AI case, they give clients the ability to manage anything with fantastic flexibility and flexibility. The development of computer navigation and self-employed/professional has changed our tendency and how we use the media more than the opposite. For media organizations that experience the same thing, the applied application has become a fantastic financial alternative. The AI business has become the most prominent player in the news and real-time video industry, moving many different players worldwide (Stone et al., 2021).

They provide customer care through text messages, messages, sites, and, surprisingly, telephones (Asghari, 2022). Virtual entertainment platforms such as Instagram, Facebook, and LinkedIn empower organizations to strengthen their customer base and keep a keen interest group refreshed on the latest delivery and development (Smith, 2017).

 

 

References

Abdelhaey, S.A., 2019. Bringing the individual back in. Review of economics & political science: REPS, 4(4), pp.304–320.

Asghari, R., 2020. Das Digital Canvas: Ein Instrument zur Konzeption digitaler GeschäftsmodelleThe Digital Canvas: An Instrument for the Creation of Digital Business Models. HMD Praxis der Wirtschaftsinformatik, 5757(4), pp.866–878.

Bahadur, A., and Naimatullah, S., 2021. Technopreneurship intention among nonbusiness students: a quantitative assessment. World journal of entrepreneurship, management, and sustainable development, 17(3), pp.502–514.

Bhardwaj, B.R., 2021. Adoption, diffusion and consumer behavior in technopreneurship. International journal of emerging markets, 16(2), pp.179–220.

Euchner, J., 2016. Business Model Innovation. Research technology management, 59(3), pp.10–11.

Hasanudin, M., Yuliana, K., Roihan, A., Arribathi, A. H., and Haris., 2021. Service Provider Information System in Technopreneurship Learning for MSMEs. Journal of Physics. Conference Series, 1764(1), p.12120.

Linde, L., Sjödin, D., Parida, V., & Gebauer, H., 2020. Evaluation of Digital Business Model Opportunities. Research-Technology Management, 64(1), pp.43–53.

Loon, M. and Chik, R., 2018. Efficiency-centered, innovation-enabling business models of high tech SMEs: Evidence from Hong Kong. Asia Pacific Journal of Management, 36(1), pp.87–111.

Ou. Y.,2016. Using a Hybrid Decision-Making Model to Evaluate the Sustainable Development Performance of High-Tech Listed Companies. Journal of Business Economics and Management, 17(3), pp.331–346.

Saludung, J. and Pramezwary, A., 2021. The Role of Technopreneurship on Development of Noodles and Restless Bread Products From Cassava (Manihot Esculenta). Journal of physics. Conference series, 1752(1), p.12055.

?em?ek, T., Öner, M. A., Kunday,  Özlem, and Olcay, G., 2022. A journey towards a digital platform business model: A case study in a global tech company. Technological Forecasting & Social Change, 175, p.121372.

Smith, E., 2017. Netflix, Facebook, and Murdoch compete for a slice of the market as cricket goes global. New statesman (1996), 146(5385), p.54.

Stone, M., Aravopoulou, E., Stott, R., Parnell, B., Machtynger, J., Machtynger, L., and Foss, B., 2021. Reciprocating Business Model Innovation - How Client and Supplier Models Interact. Journal of Business-to-Business Marketing, 28(2), pp.187–202.

Thierry, R. and Ludmila, S., 2016. 360° Business Model Innovation: Toward an Integrated View of Business Model Innovation. Research technology management, 59(3), p.21.

Yu, A., Shi, Y., You, J., and Zhu, J., 2021. Innovation performance evaluation for high-tech companies using a dynamic network data envelopment analysis approach. European Journal of Operational Research, 292(1), pp.199–212.