ISLAMIC UNIVERSITY IN UGANDA

TASK: MID-SEMESTER TEST

COURSE UNIT: TECHNOPRENEURSHIP
NAME: ALIYINZA MARY SHARON
REG NO:118-063011-18127
YEAR OF STUDY:3
SEMESTER:2
LECTURER: MR MIGIGAYI FAHAD
1) What is technology entrepreneurship? What is the difference between
an idea and a business opportunity?
Technology entrepreneurship is an investment in a project that
assembles and deploys specialized individuals and heterogeneous assets
that are intricately related to advances in scientific and technological
knowledge for the purpose of creating and capturing value for a firm.
 The difference between an idea and a business opportunity is
An idea is a thought or suggestion as to a possible course of action while
as business opportunity involves the sale or lease of any product,
service, equipment etc. that will enable the purchaser license to begin a
business.
2. Why do ventures require dynamic leaders who understand vision,
strategy, risk, and tactics?
 To inspire subornates towards the fulfillment of their business
goals
 To encourage unity and prompts employees to buy into the
vision
 To identify and take advantage of opportunities and expand
business by creating innovative products, services or market
 To work quickly and clearly to deal with difficulties, solves
problems and take advantage of various opportunities to
influence existing work and people
3. How does context (e.g., economic and political climate) play a
role in technology entrepreneurship?
 Economic
Capital, Its one of the most important factors for production for the
establishment of an enterprise.
Labor, Easy availability of the right type of workers also affects
entrepreneurship. The quality rather than the number of labors
affects the growth and of entrepreneurship.
Raw materials, without raw materials neither any enterprise can be
established neither can an entrepreneur emerge.
Political
Social stability has an impact on running the business
Foreign trade relationships where the government exert control over
business through taxation by making foreign companies that want to
set up their own business.
Taxes, government can increase or decrease tax for some company
verticals and lower it for others.

4) What is market positioning? Why are partnership strategies

important?
Market positioning is a strategic exercise we use to establish the image
of a brand or product in consumers mind, it is achieved through
promotion, price, place and product.
 Why partnership strategy important is’
 To attract new customers and expand market coverage as
companies can service larger territories without investing in
additional infrastructures or expanding their distribution
network.
 To build brand awareness e.g., a service company can offer
mutually beneficial services to customers of say a local
movie theater i.e., the car washing services can offer all
 movie employees a free wash or discount on services for
helping the car wash extend their brand.
 Broaden product and service offering this is through
aligning yourself with a company that offers complementary
services or products.
 Shore up perceived weakness this is through aligning
yourself with an established company that that already has
the trust of its customers so as to shorten your time for
marketing.
5)Purpose of a business plan,
A business plan is a formal document containing the goals of a
business ,the methods for attaining those goals and the time
frame for achievement of the goals.
Purpose
Is to identify, describe and analyze a business opportunity or
business already underway, examining its technical, economic
and financial feasibility
6) Why is cash flow important
 To make better plans and decisions, with an accurate
cash flow statement, you will know the exact amount of
funds available at any given amount,
 Understand where your spending money, it’s important
to know where exactly the money you spend is going
and why
 Protect bossiness relationships get to know the funds
available so that you can be able to pay your suppliers.
 Expand at the right time, growing and expanding your
business is exciting and expanding in the wrong time or
in the wrong way may lead to issues in the long run.
7)What are the different sources of capital for technology
ventures?
 Angel investors, these are individuals or groups that
provide capital from their personal assets to assist
you with starting a business.
  Venture capitalists, usually a group of individuals that
provide capital through an organization they have
established.
 Government grants, grants provided by the
government to enterprises with research-based
business
 Small business loans, been established to assist
business owners with their business with lower
interest rates.
 Crowdfunding, this is a method of raising funds from
individuals using an internet-based platform.
 What are the essentials of the ventures finance process from?
Risk reduction
Valuation and subsequent dilution
Deal structure and terms
The role of liquidity and events for stakeholders
Corporate governance and control

8) Why are appropriate sales and business development skills so

valuable?
 Develop self-discipline, sales are one field where
performance and absolutely impacts results and rewards
 Develop skills to work with a wide range of people, this will
definitely broaden your diversity horizons in a really good
way
 Thriving in a difficult economy, that’s why it is encouraged
for customers to invest time in training and building new
skills
 Win more business as its crucial to win a higher business
percentage of the business

 The ability to gain the support of many different types of

stakeholders (e.g., revenue and endorsements from real
customers) is important for building momentum.
 Develop basic negotiation, influence and persuasion skills
are critical and important
  Do more with the same client as to maximize revenue on
aper account basis.

 Successful entrepreneurs build lasting personal

relationships based upon trust from the customers

9) What is the role of ethics in technology entrepreneurship?

 Ethics improves business reputation as it ensures a good
reputation for the business as its great for a business
 Risks are limited with good business ethics such as fines and
other business legal trouble
 Business ethics help to retain top talent, if you’re a business
owner or manager, it’s important to lead by example as
employees can have confidence in the company as they
know you will do right by them and your customers.