Matching Technology to Entrepreneurship

  

Date Posted: 4/17/2012 3:17:28 AM

Posted By: sashoo  Membership Level: Silver  Total Points: 382

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It is vital for an entrepreneur to ensure that he remains updated with the most recent technology so as to survive in business.

APPROPRIATE AND RELEVANT TECHNOLOGY HAS THE FOLLOWING CHARACTERISTICS:
i) It is easy:
Appropriate technology is not complicated. It is user friendly. Such technology can be easily applied by an ordinary entrepreneur.

ii) It is effective:
This means it should produce the desired results with enhanced speed.

iii) It is always available:
Appropriate technology should be within reach of an ordinary entrepreneur.

iv) It is durable:
Once implemented, the technology should be long lasting.

v) It is cost effective:
It should reduce the cost of production and, therefore, enable more profit to be made.

vi) It is affordable:
It should be within the financial capability of an ordinary entrepreneur.

SOURCES OF APPROPRIATE TECHNOLOGY TO AN ENTREPRENEUR
• The media.

• Competitors.

• Other existing entrepreneurs.

• Business tours.

• Suppliers and customers.

• Members of distribution channels.

• Trade associations e.g. Chambers of Commerce.

• Trade fairs and exhibitions.

• Non-Governmental and charitable organizations.

• Research and development.

• Trade journals and magazines.

• Production personnel.

• The Internet.

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