Technopreneurship Midterms

Environmental Scanning Maxi-Maxi Strategy (SO)

Business Analyst Tool -The enterprise would use its strengths to

exploit opportunities.
-It is common in team sports that coaches
analyze their team’s weaknesses and strengths -Feed the online growing video demand by hug
against a competitor or any visible risks that movie selections using best platforms.
they may encounter.
-Use new strategic partnerships to continue
Tools business people use to formulate satisfying customer needs in providing new and
strategies in studying the business quality content
environment
Mini-Maxi Strategy (WO)
SWOT Matrix
-The enterprise would find options that
-It is a framework used to evaluate a firm’s overcome weaknesses and then take advantage
competitive position by listing the conditions of opportunities. The enterprise diminishes its
inside and surrounding it. SWOT assesses weaknesses to exploit opportunities.
internal, external, current, and future potential
-Check competition and keep it away by
factors that may affect the market position of a
satisfying customers.
particular organization.
-Avoid local competition by providing contents
Strengths
in different streaming devices.
- Characteristics of the business or project that
Maxi-Mini Strategy (ST)
give it an advantage over others.
-The enterprise would exploit its strengths to
Weaknesses
overcome potential threats.
-Characteristics of the business that place the
-Reduce subscription fee since competitors are
business or project at a disadvantage relative to
far behind and there is nothing to fear.
others.
-Build as many partnerships as possible.
Opportunities
Mini-Mini Strategy (WT)
-Elements in the environment that the business
or project could exploit to its advantage. -The enterprise analyzes its operations in an
attempt to minimize any weaknesses to avoid
Threats
possible threats
-Elements in the environment that could cause
-Reduce threat of competitive pricing and shift
trouble for the business or project.
entirely to streaming.
TOWS Analysis
PESTEL Analysis
-stands for Threats, Opportunities, Weaknesses,
-It is a tool to identify the external forces that
and Strengths. It is a tool used to produce,
may affect an organization positively and
compare, and select the appropriate strategies
negatively
for an enterprise. It goes beyond the SWOT
analysis. TOWS is a tool for strategy production,
whereas SWOT is a tool for audit and analysis.
Technopreneurship Midterms

Political 3 types of competitors

- These factors determine the impact of Direct Competitors

government and government policy on a
-These are competitors that sell the same
particular organization or a specific industry. It
product or service (e.g., Jollibee and
includes trade, fiscal, and taxation policies,
Mcdonald's). They offer the same products and
among others.
target the same market.
Economic
Indirect Competitors
-These factors determine the impact of the
-These are enterprises that sell different goods
economy and its performance on an
and services, have the same markets, and
organization and its profitability. These include
satisfy the same consumer needs. For example,
interest rates, employment or unemployment
Domino's Pizza sells pizza, and McDonald's sells
rates, raw material costs, and foreign exchange
burgers, but they target the same market.
rates.
Future Competitors
Social
-These are enterprises that have the power to
-These factors determine the impact of the
take a market share if they enter a certain
social environment and emerging trends on the
market. For example, who would have thought
business profitability of an organization.
that Jollibee Foods Corporation (JFC) would
Technological venture into the Chinese food and cake
business? JFC used its financial strength and
-These factors determine the impact of
bought Chowking and Red Ribbon to crack the
technological innovation and development on a
Chinese fast food and cake market.
particular market or industry. These include
digital or mobile technology changes, 3 elements of company differentiation
automation, research, and development.
Pricing
Environmental
-It is the determining factor in support of the
-These factors determine the influence of the organization. This can fluctuate depending on
surrounding environment and ecological the supply and demand and could indicate the
aspects’ impact on a market or industry. These customer's ideal value for the product or
include climate, recycling procedures, carbon service.
footprint, waste disposal, and sustainability.
Product
Legal
-Another area of differentiation is through
-These factors determine the importance of product offerings. Innovative products that
understanding legal laws and procedures in a meet customer needs can be an area where a
given territory where a business operates. company has an advantage over competitors.
These include employment legislation,
Organizational Differentiation
consumer law, health and safety, and
international and trade regulations and -An enterprise's location, name recognition, and
restrictions. customer loyalty can make it stand out. Imagine
Technopreneurship Midterms

how Jollibee had capitalized on this element. Economic Risk

Jollibee can be found anywhere.
-Fluctuations in the economy affecting sales,
Risks in the Realm of Technopreneurship revenue, and profits. Strategies include
maintaining healthy cash flow and minimizing
Understanding and Managing Risks for
unnecessary expenses.
Technology Enterprises
Financial Risk
-Risks are potential threats that can adversely
affect a business, ranging from minor setbacks -Internal and external circumstances impacting
to catastrophic failures. CEOs and risk profits, including currency fluctuations, liquidity
management officers must identify, assess, and issues, and credit risks.
mitigate these risks to safeguard the business's
Security and Fraud Risks
interests.
-Increasing cybersecurity threats and data
-Various methods such as comprehensive
breaches pose significant risks to businesses.
analysis, risk assessment, and strategic planning
Fraud risk assessments and security measures
are utilized to identify and manage risks
are essential for protecting sensitive
effectively.
information.
Types of Risks
Compliance Risk
Speculative Risks
-Legal and regulatory obligations must be
-Risks involving choice and uncertainty, often adhered to, requiring businesses to regularly
associated with seeking opportunities for profit review and update their compliance practices.
despite potential losses. Examples include
Human Risk
financial investments and gambling
transactions. Risks stemming from employee actions or
failures, including productivity loss, misconduct,
Pure Risks
and health-related issues. Training and
-Risks resulting in loss without the possibility of adherence to policies can mitigate human risks.
profit, such as fire, theft, and negative publicity.
Reputation Risk
Risks in technology enterprises
Negative events or perceptions impacting a
-encompass a wide range of challenges that can company's reputation, necessitating proactive
impede financial objectives and operational reputation management strategies and
success. customer engagement.

Factors Contributing to Risks Competitive Risk

-Internal and external factors, including - Risks arising from complacency or failure to
economic fluctuations, financial instability, innovate, leading to loss of market share and
security threats, compliance issues, human revenue. Continuous improvement and
errors, reputation damage, and competitive differentiation are essential for mitigating
pressures. competitive risks.
Technopreneurship Midterms

Intellectual Property Protection There are a variety of customer segmentation

models to consider
-Strategies for safeguarding intellectual
property rights, including patents, copyrights, Demographic Segmentation
trademarks, franchises, trade secrets, and
-Age, gender, income education, marital status
digital assets.
Geographic Segmentation
Understanding the Target Market
-Country, state, city, municipality, town
Target Market
Psychographic Segmentation
-The specific group of people identified by a
company, as the most likely candidates to use -Personality, values, attitude, interest
its product or service offerings due to shared
similar needs or characteristics. Technographic Segmentation

Importance for Technopreneurs -Mobile used, desktop used, apps and software
used
-Technopreneurs can establish themselves as
experts in the wants and needs of a specific Behavioral Segmentation
group, respond quickly to changes in their -Tendencies and frequent actions, habits,
target market, and closely monitor competitors' features or product use
attempts to attract those customers.
Needs-based Segmentation
Customer vs. Consumer
-Products or service must-haves, needs of
-Clarification of the difference between these specific groups
terms, emphasizing that consumers use
products or services, while customers purchase Value-based Segmentation
them but may not necessarily use them. -Economic value of a particular customer group
Sample Scenario: Understanding Today’s Consumer
Edward enters the convenience store to 1. Ninety-one percent (91%) own a mobile
purchase coffee. If Edward drinks the coffee, he phone.
becomes a consumer. If Edward bought the
coffee for someone else, he remains a 2. Online shopping is mainstream.
customer, and the person who drinks the coffee
3. An average internet user has up to eight (8)
is the consumer.
social media accounts.
Customer Profiling
4. Thirty percent (30%) of online consumers use
Dimitris (2020) virtual private networks (VPNs) to secure
personal information.
-Identification of ideal customers based on
distinctive characteristics, such as interests, 5. Seventy-five percent (75%) purchase
behavior, location, and demographics. products online monthly.
Technopreneurship Midterms

Methods of Customer Profiling 5. Post-purchase Evaluation

1. Using templates for quick profiling. -Assessing product/service performance and

potential for retention.
2. Employing customer profiling software for
accurate profiles. Strategic planning

3. Analyzing demographics, delving into needs, -is the process of developing detailed business
and aligning with business offerings. strategies, implementing them, and analyzing
outcomes to achieve long-term goals.
4. Collecting customer feedback via interviews
and surveys. Importance: Essential for businesses to flourish
and maintain a competitive advantage.

Strategic Planning vs Strategic Management

6. Focusing on problem-solving and
understanding user actions. Strategic Planning

7. Examining contextual details for assistance. -Focuses on formulating detailed strategies

aligned with long-term goals.
8. Understanding the industry to define brand
identity and stand out. Strategic Management

9. Building personas representing target -Aims to maintain a competitive advantage and

audience groups. adapt strategies to changing business
environments.
10. Analyzing and iterating on customer
personas to develop a thorough understanding The Important Steps of Strategic Planning
of value proposition for each customer type.
1. Strategy Formulation
Decision-Making Process
-Determining strategic objectives based on
Marek Sotak (2016) outlines five decision mission and vision.
making stages
2. Strategy Implementation
1. Need Recognition
-Allocating resources and adopting the chosen
-Identifying problems and seeking solutions. strategy.

2. Information Search 3. Strategy Evaluation

-Seeking information for confident decision- -Assessing performance and adjusting strategies
making as needed.

3. Evaluation of Alternatives Strategic Planning Models

-Weighing value against cost and comparing Basic Strategic Planning Model
options.
-Mission statement, intermediate goals, and
4. Purchase action plans.

-Making the decision to buy based on perceived

value.
Technopreneurship Midterms

Goal-based Strategic Planning Model Strategic Decision-Making Process

-SWOT analysis, mission statement, and Evaluate Current Performance Results

operational plan.
-Assess the organization's performance based
Scenario Strategic Planning Model on metrics such as return on investment,
profitability, and alignment with mission and
-PESTEL analysis to prepare for external
objectives.
changes.
Review Corporate Governance
Alignment Strategic Planning Model
-Evaluate the effectiveness of the board of
-Aligning resources with mission, identifying
directors and top management in guiding the
problem areas.
organization towards its strategic goals.
Organic Strategic Planning Model
Scan and Assess External Environment
-Continuous reference to common values and
-Identify and analyze external factors such as
shared reflection.
market trends, competition, regulatory
Real-time Strategic Planning Model changes, and technological advancements that
may impact the organization's strategy.
-Adaptable approach for quick reaction to
changes. Scan and Assess Internal Corporate
Environment
Inspirational Strategic Planning Model
-Evaluate the organization's internal strengths,
-Quick strategy focusing on inspiring vision and weaknesses, resources, and capabilities to
goals. determine its strategic position and competitive
Strategic Decision-Making Approaches advantage.

Entrepreneurial Mode Analyze Strategic Factors

-Visionary decisions by a powerful individual -Identify strategic issues and challenges, revise
(e.g., Amazon). mission and objectives if necessary, and
prioritize areas for strategic focus.
Adaptive Mode
Generate, Evaluate, and Select Alternative
-Reactive solutions to existing problems (e.g., Strategies
Disney+ launch during pandemic).
-Develop various alternative strategies to
Planning Mode address identified strategic issues, evaluate
-Systematic approach to gather information and their feasibility and potential impact, and select
select strategies (e.g., Samsung rebranding). the most suitable strategy for implementation.

Logical Incrementalism Implement Selected Strategies

-Fusion of formulation and implementation, Translate the chosen strategy into action by
building consensus. developing detailed plans, allocating resources,
and implementing initiatives to achieve
strategic objectives.
Technopreneurship Midterms

Evaluate Implemented Strategies

Monitor the progress of implemented strategies

through feedback mechanisms, and
performance indicators, and make adjustments
as needed to ensure alignment with
organizational goals and objectives.