Assignment Te/Technology Venture Essay

Submitted By dave8687
Words: 809
Pages: 4
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HOMEWORK 1

1.1

An opportunity is a juncture of circumstances with a good chance for success or progress. A good opportunity combines good timing with realistic solutions that address important problems in favorable contexts. An idea is a thought that might be successful, but the entrepreneur has to consider that an idea is not always an opportunity. That means just because the idea has popped up in its mind. An idea can also be defined as the opinion or the belief of an entrepreneur.
The entrepreneurial challenge is to pursue the idea and to discover if the idea might be transferrable into an opportunity. It is the job of the entrepreneur to locate new ideas, to determine whether they are actual opportunities, and, if so, to put them into action. Having an opportunity does not mean immediate success, therefore entrepreneurs must be willing to accept failure as a potential outcome of their venture. More important than success is the development of the entrepreneur itself, meaning that failure can entail future benefits through testing, experimenting and steady learning. In short, an entrepreneur has to believe in his success and turn failure into experiences that may have benefits for his future ventures.

2.1

1. Increasing the value of a product or service b
2. New applications of existing means or technologies a
3. Creating mass markets c
4. Customization for individuals b
5. Increasing reach a
6. Managing the supply chain b
7. Convergence of industries a
8. Process innovation b
9. Increasing the scale of the firm c

2.8

I am using Good Notes for IPad, an Application that allows you to take notes on your IPad and also links these notes automatically to your Cloud Storage if you enable it to. It is very easy to use and saves you a lot of paperwork for university. You are able to create your own specific templates for every subject or event you are planning and for meetings as well.

Improvement of the Application:
1. Data security/data safety
A higher level of data safety would make the App. more attractive to companies with specific Data Regulations like financial institutions (Bank Secrecy)
2. Subfolders
When you are creating a folder on Good Notes you are not able to have subfolders in the App. Cloud – subfolders in the Good Notes Folder are not recognized by the App too.
3. Complete sync with cloud storage
When you link Good Notes to some Cloud Storage, it only creates a “Good Notes Folder” in your data storing application and does not synchronize all the Data of your Cloud with Good Notes. It would be an improvement to be able to access all the stored Data in the Cloud and not just download it to Good Notes every single time you need it. Furthermore your changes to the document made in Good Notes are only stored automatically for contents of the Good Notes cloud folder.

3.3

Google and Yahoo are generating their revenue in similar ways. They may be regarded as providers of free online services for private
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