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Matching Technology to Entrepreneurship

  

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

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


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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