The phrase know-how comes from two Greek words, transliterated techne and logos. Two different themes tackle what occurs inside small companies engaged in know-how entrepreneurship and one other theme focuses on the interdependence between small-agency initiatives and the exterior infrastructure that contributes to science and technology advances. Moreover, a capability to entry and use know-how helps to lower the digital divide, with college students better in a position to entry information. Technology is properly outlined as any software of science to perform a perform.
Technology entrepreneurship is greatest understood therefore, as a joint-production phenomenon that pulls from a crew of specialised people from multiple domains, some or all of whom become embedded in the technology path they attempt to shape in real time ( Garud and Karnøe, 2003 ). Technology entrepreneurship is just not a few single particular person or the inventions they introduce.
It is about managing joint exploration and exploitation, where every particular person has roles and obligations in collaboratively and cooperatively moving forward toward engaging in shared objectives ( Lindenberg and Foss, 2011 ). Technology entrepreneurship is about investing in and executing the corporations’ initiatives, not simply recognizing know-how or market opportunities.
These features are: i) the interdependence between scientific and technological change and the choice and development of recent combos, property, and asset attributes; ii) biases in the present entrepreneurship literature; iii) conceptualization of technology entrepreneurship as an investment in a challenge, relatively than opportunity recognition or venture formation; and iv) links among technology entrepreneurship, the idea of sustainable competitive advantage, and the theory of the firm.
A fashionable instance is the rise of communication know-how, which has lessened obstacles to human interplay and, as a result, has helped spawn new subcultures; the rise of cyberculture has, at its foundation, the event of the Internet and the computer 16 Not all know-how enhances culture in a creative means; expertise can even assist facilitate political oppression and conflict via tools equivalent to weapons.