Most texts, university courses and corporate training program have
the start point in the entrepreneurial process being the
identification of new market opportunities thereby providing the
basis for the development of a radically new product or service
proposition. Given the high number of commercial successes achieved
by this market-driven approach, it is clear this a valid and viable
way of creating new firms and sustaining the performance of
existing organizations. Nevertheless it is important to register
that in terms of maximizing the wealth of organizations and even
entire nations, the most economically impactful entrepreneurial
outcomes are the result of what Joseph Schumpeter, the father of
modern entrepreneurship theory, described as 'creative destruction'
leading to the decline and sometimes the total disappearance of
existing industrial sectors. Schumpeter opined that the most
successful form of innovation is technology-driven which occurs
with scientific or technological breakthroughs and experimentation
leading in many cases to the launch of a radically new product or
service at a time when there often is little evidence of the
existence of an identified market opportunity. Subsequent to the
emergence of Schumpeter's theories, both academic research and real
world case studies have validated the fact that the management of
technology-driven entrepreneurship is somewhat different process to
that of market-driven entrepreneurship. The existence of these
differences generates the perspective that benefit exists in
identifying the managerial guidelines that can be of assistance in
ensuring the success of technological entrepreneurship projects in
both start-ups and existing businesses. This book provides such
guidance.
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