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Technology Ventures: From Idea to EnterpriseChapter 9: Summary
How can a new organization access and use knowledge in order to build its new venture?
The creation and management of knowledge can lead to new, novel applications and products. Sharing knowledge throughout a firm can enhance the firm’s processes and core competences, thus making the firm more innovative and competitive.
Summary
Knowledge and human power are synonymous, since the ignorance of the cause frustrates the effect.
Francis Bacon
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Chapter 9: concept
Knowledge is the awareness and possession of information, facts, ideas, truths, and principles in an area of expertise.
Intellectual capital is the sum of the knowledge assets of a firm.
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Technology Ventures: From Idea to Enterprise
Chapter 9: Figure 9.1
The Knowledge Creating and Sharing Activities of A Firm
1. Present: Shared Problem Solving
4. Acquiring Knowledge from Outside the Firm
2. Implementing New Processes and Tools within the Firm
3. Future: Experimenting and Learning
Core
Competencies
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Technology Ventures: From Idea to Enterprise
Chapter 9: Concept
Knowledge management is the practice of collecting, organizing, and disseminating the intellectual knowledge of a firm for the purpose of enhancing its competitive advantages.
Knowledge, Learning, and DesignKnowledge, Learning, and Design
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Technology Ventures: From Idea to Enterprise
Chapter 9: Table 9.1
Managing Knowledge in A Technology Venture
ROLE: Identify and evaluate the role of knowledge in the firm.
VALUE: Identify the expertise, capabilities and intellectual
capital that creates value in the form of products and
services.
PLAN: Create a plan for investing in the firm's intellectual
capital and exploiting its value while protecting it from
leakage to competitors.
I MPROVE: Improve the knowledge creation and sharing
process within the new venture.
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Technology Ventures: From Idea to Enterprise
Chapter 9: Concept
A learning organization is skilled at creating, acquiring, and sharing new knowledge and at adapting its activities and behavior to reflect new knowledge and insights.
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Technology Ventures: From Idea to Enterprise
Chapter 9: Table 9.2
The Entrepreneurial Learning Process
Step
Question
Outcome or Action Required
1 Identify the problem or opportunity
What do we want to change?
Desired specific result
2 Analyze the problem or opportunity
What is the key cause of the problem?
Key cause identified
3 Generate potential solutions
How can we make a positive change?
A list of possible solutions
4 Select a solution and create a plan
What's the best way to do it?
Establish a criteria, select the best solution and set a plan to accomplish it
5 Implement the selected plan
How do we implement the plan effectively?
Monitor the implementation
6 Evaluate the outcome and learn from the results
How well did the outcome match our desired result?
Verify that the problem is solved. Why did it work?
Knowledge, Learning, and DesignKnowledge, Learning, and Design
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Technology Ventures: From Idea to Enterprise
Chapter 9: Exercise
Describe the intellectual capital of Intel and its knowledge management processes.
Knowledge, Learning, and DesignKnowledge, Learning, and Design
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Technology Ventures: From Idea to Enterprise
Chapter 9: Concept
A prototype is a physical model of the product or service.
Knowledge, Learning, and DesignKnowledge, Learning, and Design
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Technology Ventures: From Idea to Enterprise
Chapter 9: Figure 9.5
The Prototype Development Process
Specify Additional Requirements and Attributes
Initial Requirements and Attributes of the Product
Evaluate the Prototype and Its Demonstrated Benefits
Build: Prototype to Demonstrate
the Product and Its Benefits
Revise:
Identify further Requirements and Attributes for the Product
Complete Final Prototype
Satisfactory?
Continue to
Adjust? ?
No
Yes
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Technology Ventures: From Idea to Enterprise
Chapter 9:Concept
A scenario is an imagined sequence of possible events or outcomes, sometimes called a mental model.
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Technology Ventures: From Idea to Enterprise
Chapter 9: Figure 9.6
The Elements of A Scenario
The Story or Scenario
Outcomes: The Conclusion
of the Story
Learning: Understanding
and Decisions
Driving Forces
Logics: The Rationale for the Story
Key Issues and
Questions
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Technology Ventures: From Idea to Enterprise
Chapter 9: Principle
Knowledge acquired, shared, and used is a powerful tool for the entrepreneur to build an innovative, learning organization that can compete and grow effectively.
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Technology Ventures: From Idea to Enterprise
Chapter 9: Exercise
Describe and sketch a prototype of a small, low energy consumption two-person vehicle for in-town operation only. Create a brief scenario for this vehicle.
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Technology Ventures: From Idea to Enterprise
Chapter 9: Venture Challenge
VENTURE CHALLENGE1)Describe the means of managing knowledge and
learning that will be used in your venture
2)Discuss the robustness and usability of your product.
3)Discuss your plans for developing a prototype of your product.
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Technology Ventures: From Idea to Enterprise
Technology Ventures: From Idea to OpportunityChapter 9: DVD Video
DVD Video
“Design is Risk-Taking”
David Kelley (IDEO)
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