Principles of technopreneurship

Industry and market structures

Download 406.62 Kb.

View original pdf

Page	21/35
Date	01.11.2022
Size	406.62 Kb.
	#59858

1 ... 17 18 19 20 21 22 23 24 ... 35

Techno 1 notes

Industry and market structures
Industry and market structures can change rapidly, sometimes after along period of stability. Such changes offer exceptional opportunities to innovators, and considerable threat to those who incorrectly read the changes. The advent of the mobile phone is a casein point. Tables are set at every corner and nearer the customer. Changing industry and market structures often give the small business entrepreneur opportunities to benefit from the sluggishness of larger, existing suppliers who often view structural change as threats to be resisted, rather than a chance to innovate.

Demographics
Demographic changes are clear and signal well in advance. Demography is the study of statistics of the population births, deaths, diseases, employment, education, income and the trends which these figures show. These statistics are often universally accepted as key indicators of demand changes within society which are highly predictable. A high birthrate in one year will inevitably mean an increased need for first school places four to five years later. Lower death rates and longer life expectancy will be sure to create more demand for retirement homes and old age care facilities. These new requirements create many opportunities for innovation which can be seen well in advance yet often these key numbers are overlooked in the search for entrepreneurial ideas.

Changes in perception
Some changes are not really changes at all. The facts do not change, but people’s perception of the facts change, which has an equally powerful effect. The fashion industry relies heavily on changes in perception. Clothes from an earlier generation do not change, but our perceptions of them does. Changes in perception give the entrepreneur many new openings. A few years ago, vegetarian restaurants and health food shops were viewed as strictly fora minority fringe element of the population. The food has not changed dramatically, but now every restaurant has to have at least one vegetarian dish as our perception of what we ought to eat has shifted. The skilful innovator will be careful to differentiate between temporary changes in perception and longer lasting developments.

Technoprenuership1 20
New knowledge
The most famous innovations are based on new knowledge, or inventions. Despite their publicity, knowledge based innovations are the most problematic and, in many respects, the least attractive to entrepreneurs. The time between new knowledge being available and its successful development into marketable products is long. The idea of using radio waves to transmit visual information was around in the early days of radio in the s but only became practical as the first television transmission in 1926.

Download 406.62 Kb.

Share with your friends:

1 ... 17 18 19 20 21 22 23 24 ... 35