Technology Ventures: From Idea to EnterpriseChapter 9: Summary How can a new organization access and use knowledge in order to build its new venture? The creation and management of knowledge can lead to new, novel applications and products. Sharing knowledge throughout a firm can enhance the firm’s processes and core competences, thus making the firm more innovative and competitive. Summary Knowledge and human power are synonymous, since the ignorance of the cause frustrates the effect. Francis Bacon Knowledge, Learning, and Design 9 A learning organization is skilled at creating and sharing new knowledge and uses this knowledge to do a better job.

Chapter 9: concept Knowledge is the awareness and possession of information, facts, ideas, truths, and principles in an area of expertise. Knowledge acquired, shared and used is a powerful tool for the entrepreneur to build a new venture organization. Intellectual capital is the sum of the knowledge assets of a firm. IC = Human Capital (HC) + Organizational Capital (OC) + Social Capital (SC) Product is the embodiment of knowledge. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Knowledge, Learning, and Design 9 *Knowledge finds value in practice and use. *acquiring knowledge to fill gaps is critical to the success of the firm.

Chapter 9: Concept Knowledge management is the practice of collecting, organizing, and disseminating the intellectual knowledge of a firm for the purpose of enhancing its competitive advantages. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise Firm’s knowledge encompasses: (1)Cognitive knowledge, (2)Skills, (3)System understanding (4)Creativity, (5)Intuition. Can be codified and stored

Chapter 9: Table 9.1 Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise *Why knowledge management is important in a learning firm?

Chapter 9: Concept A learning organization is skilled at creating, acquiring, and sharing new knowledge and at adapting its activities and behavior to reflect new knowledge and insights. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9: Table 9.2 Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9: Exercise Describe the intellectual capital of Intel and its knowledge management processes. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9: Concept A prototype is a physical model of the product or service. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9: Figure 9.5 The Prototype Development Process Specify Additional Requirements and Attributes Initial Requirements and Attributes of the Product Evaluate the Prototype and Its Demonstrated Benefits Build: Prototype to Demonstrate the Product and Its Benefits Revise: Identify further Requirements and Attributes for the Product Complete Final Prototype Satisfactory? Continue to Adjust? ? No Yes Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9:Concept A scenario is an imagined sequence of possible events or outcomes, sometimes called a mental model. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9: Figure 9.6 Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise Scenario – an imagined sequence of possible events, and outcomes, sometimes called a mental model.

Chapter 9: Principle Knowledge acquired, shared, and used is a powerful tool for the entrepreneur to build an innovative, learning organization that can compete and grow effectively. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9: Exercise Describe and sketch a prototype of a small, low energy consumption two-person vehicle for in-town operation only. Create a brief scenario for this vehicle. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Chapter 9: Venture Challenge VENTURE CHALLENGE 1)Describe the means of managing knowledge and learning that will be used in your venture 2)Discuss the robustness and usability of your product. 3)Discuss your plans for developing a prototype of your product. Knowledge, Learning, and Design 9 Technology Ventures: From Idea to Enterprise

Technology Ventures: From Idea to OpportunityChapter 9: DVD Video DVD Video “Design is Risk-Taking” David Kelley (IDEO) Knowledge, Learning, and Design 9