Question

3. According to the textbook, technology and entrepreneurship are strongly linked. Critically assess this claim by...

3. According to the textbook, technology and entrepreneurship are strongly linked. Critically assess this claim by defining technology and techno-entrepreneurship, while outlining the types of technology. In concluding your essay, you should pay attention to the impact of technology on the entrepreneur. (30MARKS)

Homework Answers

Answer #1

Technology is the application of scientific knowledge, skills, technology, used in the services, and production of goods in the completion of objectives like scientific investigations, etc.

On the other hand, techno-entrepreneurship refers to the entrepreneurial and entrepreneurial processes and activities of embryonic and exciting operations and companies operating in the techno-intensive atmosphere.

There are dozens type of technologies but the main types of technologies that affect the business and entrepreneurs are as follows:

  • Bio and agricultural technology.
  • Power or energy technology.
  • manufacturing technology.
  • medical technology.
  • construction technology.
  • information and technology.
  • communication technology.

Technology is the main comment that makes business possible in the modern world. It has allowed entrepreneurs of the new generation to use advanced and later technology to streamline the business and other business processes in established enterprises.

It has become important for business. We can't imagine a running business without laptops, computers, printers, projectors, etc.

Technology is influencing and affecting entrepreneurs of modern age significantly. They can now get more profit with comparatively lesser money. Thet cost of the hardware and software has become lesser and lesser each day.

entrepreneurs can now use the latest technologies such as cloud storage, cloud computing, video conferencing, voice and video chats with consumers and partners, analytics tools, management Softwares, etc in order to become successful in the cutthroat market.

E-commerce also becomes one of the main parts of the business that is why entrepreneurs are able to attract more consumers with the help of eCommerce services.

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