W1 technopreneurship

Introduction

What is an Entrepreneur?

A person who start and operates a business taking on financial risk to do so.

An entrepreneur is one who organizes a new business in the hopes of making a profit.

A person who organizes and manages any business, usually with considerable initiative and

Risk.

Entrepreneur is a person who starts an enterprise.

The process of creation is called entrepreneurship or turning ideas into marketable products

Definition for engineering students.

So entrepreneur is a person who start and operates a business by using engineering skills with

Business management/ entrepreneurial skills.

Engineer Entrepreneurship a technical professional /engineering skills entrepreneurial/ business

Management skills

He must be able to integrate Business management skills with with engineering/technical skills

Entrepreneurial/ business management skills

New or revised product/ service idea

Managing business portfolio

Financial Plan

Marketing plan

Advertising, sales,

Distribution channels management

Leadership skills

Organizing and Managing People.

Employees compensation and reward system

Quality management

The Foundations of Entrepreneurship 2

Course Module

. Entrepreneur and Entrepreneurship Entrepreneur Entrepreneurship Organizer Organization

Decision maker Decision Making Innovator Innovation Motivator Motivation Creator Creation

Leader Leadership Manager Management Planner Planning Communicator Communication

Administrator Administration

. Why Study Entrepreneurship?

Scientists and engineers who want to lead companies need to know how to back up ideas with

Business management/ entrepreneurial skills. You will learn the complex business

Processes involved in commercialization. You learn how to make trade-offs among features,

Benefits, price, markets, and business operations You learn how to adapt to uncertainty

And change You learn techniques for managing people

Characteristics of Entrepreneurs

Desire for responsibility

Willingness to accept risk,

Confidence in their ability to succeed

High level of energy

Future orientation

Skilled at organizing

Flexibility

Expectations from an Entrepreneur

An entrepreneur should

Be willing and able to convert a new idea or invention into a success innovation,
Be able to develop new markets of customers and buyers,

Discover new sources of materials,

Mobilize capital resources (land, machines, buildings, money, humans),

Introduce new technologies, products and services.

. Distinction Between An Entrepreneur And A Manager – An entrepreneur start a business where a

Manager provides his services…….. – An entrepreneur is the owner of the organization and he

Bears all the risk and uncertainties… - Entrepreneur’s objective is to establish, innovate and

Expand a business, where a manager implements the entrepreneur’s plans and ideas……… -An

Entrepreneur is faced with more income uncertainties as his income is contingent on the

Performance of the firm…….. – An entrepreneur deals with faults and failures as a part of learning

Experience where as a manager make every effort to avoid mistakes……..

. Rewards of Being an Entrepreneur

Rewards of Being an Entrepreneur

High degree of independence—

Freedom from constraints

Get to use a variety of skills and talents

Freedom to make decisions

Accountable to only yourself

Opportunity to tackle challenges

Feeling of achievement and pride

Potential for greater financial rewards . The cultural diversity of Entrepreneurship

Young entrepreneurs

Women entrepreneurs

Minority

-owned enterprises

Immigrant entrepreneurs

Part

-time entrepreneurs
Home

-based businesses

Family businesses . Nine Deadly Mistakes of Entrepreneurship

1. Management incompetence
2. Lack of experience
3. Poor financial control
4. Failure to develop a strategic plan
5. Uncontrolled growth
6. Poor location
7. Improper inventory control
8. Incorrect pricing
9. Inability to make the “entrepreneurial transition” . Benefits of Small Business Ownership

The opportunity to:

Create your own destiny

Make a difference

Reach your full potential

Reap unlimited profits

Contribute to society and be recognized for your efforts

Do what you enjoy and have fun at it . Drawbacks of Small Business Ownership

Uncertainty of income

Risk of losing your entire investment

Long hours and hard work

Lower quality of life until the business gets established

High levels of stress

Complete responsibility

Discouragement

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Introduction

Introduction to AI Technology is a starting point for business decision-makers who would like to get a
high-level overview of AI. This module will discuss how the AI technologies are transforming
organizations by giving them a competitive advantage; improving customer experiences; and enhancing
efficiencies in their internal processes.
Explore state-of-the-art AI technology

Completed

AI has been around since the 1950s. In the recent years, there has been so much hype and buzz about AI
and how it’s the future. In this section, we’ll discuss why there has been a recent explosion of
innovations in AI and how it’s shaping the world around us. Watch this video from Harry Shum,
Enterprise Vice President at Microsoft AI and Research, which addresses the question: “Why AI now?”
Harry describes trends in the market by explaining how these advances are becoming tangible and how
they’re being used by developers.

AI has the potential to disrupt every industry and every business. AI will enable companies of all sizes to
achieve better business results by maximizing on the three trends discussed in the video:

Access to massive amounts of data.

Access to massive computing power through cloud.

Access to recent breakthroughs in new AI algorithms.

Microsoft has made tremendous AI advancements from our global research and data scientist teams.
These AI innovations have allowed Microsoft to produce products to empower businesses, developers,
and data scientists to build and deploy models faster. Using Cognitive Services, developers can easily
apply Microsoft pre-trained AI models in their own applications. They can implement vision, speech,
language, search, and decision-making functionality without requiring machine-learning expertise.

Next, let’s explore, at a high level, what AI is and clarify the confusion around this generalized term.

What the image is. For example, a healthy image versus an image with cancerous features found.

Expanding on the primary concepts of AI, where machines show capabilities that are usually associated
with human capabilities, you can see how learning over time, interpreting data, and reasoning with data
works. To achieve this, we need to feed the machine a lot of data before it can learn. Additionally,
machine learning creates algorithms varying from simple linear functions to extremely complex ones,
like an artificial neural network.

Next, let’s explore how to use prebuilt AI technologies that make learning, perception, and cognition
easier.

The bot applications using natural language understanding. This custom natural language understanding
service helps streamline work processes and integrate with existing data to provide better customer
service at scale to build brand loyalty and a competitive advantage for businesses.
Now that we’ve learned how prebuilt AI can help build intelligent apps by easily adding AI capabilities,
let’s dive more into machine learning.

From a continuous numeric value. Finally, clustering problems are used in cases where you need to
group data that have similar characteristics. The diagram below shows examples of the types of
problems each algorithm solves.

Diagram that differentiates different types of algorithms and the problems they solve, including
regression, classification, and clustering.

The next piece of machine learning is data. Data plays a major part in building models and machine
learning. There’s no machine learning without data. A huge part of machine learning’s problem is finding
the right data, cleaning it, and preparing it for training. For machine learning models to have a higher
accuracy a large amount of data is needed. After a model is trained and built, that’s when businesses
can deploy it out to a machine in their factory to shut it down in case it starts to exhibit anomalous
behavior. Another example is that business can deploy the model into a web application to surface
recommendations or detect a fraudulent transaction.

Diagram that shows the stages of machine learning, starting with preparing data, then building and
training, and finally deploying.

As you can see, there are three stages of machine learning, which are: identifying and prepping the data;
building and training the model; then deploying the model. Once a business deploys the model, the
process is often not done because they need to observe how that model works with real-life data. For
instance, does the model improve their customer’s experience? Do they surface better
recommendations? As data or customer behavior changes over time, the model’s accuracy may start to
degrade, and the model will need to be updated. Hence the lifecycle of the machine learning continues.

The last thing to touch on is, what is deep learning? Deep learning refers to ways to build a model that
uses something called neural networks. And one of the interesting properties of neural networks is you
can learn complex functions as you create deep networks, which have lots of layers. The neural
networks perform incredibly well when operating on unstructured data, like images, or text, or sounds.

Now, the way deep learning is often implemented uses frameworks like Tensorflow, PyTorch, or
Chainer. And one of the interesting things is that all the logic that’s behind deep learning can be
accelerated on specialized hardware, like GPUs and FPGAs. And what these allow you to do is deploy
models that are more complex and accurate into lots of different places. In addition, it lets us train on
even more data, which, again, helps us create a more accurate model.
These examples showcase the different approaches used to solve business problems with machine
learning and deep learning. Organizations can use huge datasets to make predictions to create better
business results.

Now that you’ve learned the techniques involved in building machine learning models on a solid data
foundation to create value for your business, let’s wrap up everything you’ve learned about AI
technology with a knowledge check.