Entrepreneurship

These are the books, that are suggested at the course called Management of Technological Organizationsin Rutgers from professor Gayle Stein. I’ve read “Surprise! Now Y ou’re a Software Project Manager” and that was one of the greatest book I’ve ever read about Project Management. I’ll also share the review about that book, but if you’re a computer engineering, computer science, or IT student who wants to be an IT Manager in the future or an employee who is in the IT sector, you can learn lots of things from these books and improve your management and communication skills.

Inter-generational management
1. Born Digital
2. Grown Up Digital
3. Motivating the “What’s In It For Me” Workforce: Manage Across the Generational Divide and Increase Profits
4. Not Everyone Gets a Trophy
5. It’s Okay to Manage Your Boss
6. How to Win Every Argument
7. What Every Body is Saying
8. The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
9. Upgrade Your Life: The Lifehacker Guide to Working Smarter, Faster, Better
10. The Tyranny of Email
11. Cluetrain Manifesto
12. The World is Flat
13. Influencer
14. Here Comes Everybody

Project management
1. The Five Dysfunctions of a Team
2. Mythical Man Month
3. Surprise! Now Y ou’re a Software Project Manager
4. Peopleware
5. X teams
6. Coders at Work
7. Beautiful Code
8. The Starfish and the Spider
9. The Innovators Dilemma
10. Myths of Innovation
11. Workarounds that Work

Productivity
1. Getting Things Done: The Art of Stress-Free Productivity
2. The First 90 Days: Critical Success Strategies for New Leaders at All Levels
3. The First-Time Manager
4. Becoming a Successful Manager : How to Make a Smooth Transition from Managing Yourself to Managing Others
5. The One-Minute Manager
6. What Were They Thinking?: Unconventional Wisdom About Management
7. From the Bureau to the Boardroom: 30 Management Lessons from the FBI
8. First, Break All the Rules: What the World’s Greatest Managers Do Differently
9. Where Good Ideas Come From 10. Leading Change
11. Blink
12. Who Moved My Cheese
13. Hacking Work
14. The Tipping Point

Collaboration and teamwork
1. Group Genius
2. Cognitive Surplus
3. Wikinomics
4. Macrowikinomics
5. Infotopia
6. The Future of the Internet and How to Stop It
7. Groundswell: Winning in a World Transformed by Social Technologies
8. The Cult of the Amateur
9. The Myth of Digital Democracy
10. The Shallows
11. Dance of Change
12. The Fifth Discipline
13. The Mesh

Understanding the roadblocks ahead will help you better manage your technology needs.(http://www.entrepreneur.com/article/172858)

 

This article explains the importance of the technology in our company that is a valuable tool for companies trying to streamline their business and increase productivity and efficiency. However, the author highlights that, even though these can be reached with the help of the technology, technology does not do all of these things easily, it is multifaceted, complex and always improving. That’s why he advices companies that, before they try to implement any innovation make sure to prepare detailed technology plan like a business plan. And when it comes to managing company’s technology there are couple of challenges facing companies nowadays. These are: lack of education about technology options, an inability to prioritize which technologies are most important at what time, how to go about integrating technology into your business and, finally, how to protect it. And I will focus on lack of education and inability to prioritize.

Lack of education is one of the most important things while implementing technology. Because people do not have information about what is going on about technology, they might not be able to choose the best solution for their plan. The author gives a web site example: Having a normal web site is really easy and inevitable task for every single company, however if a competitor has really functional web site, which increase the productivity and customer satisfaction, then you need to add new features to web site in order to catch or head them off. Thus, in order to educate ourselves the author leads us to pay attention to the following points: reading technology sections of small-business-focused magazines, keeping in touch with local technology advisor, taking the advantage of technology seminars.

Because the company generally have a limited amount of time and money to implement the new technology that we need, it is really important to have a technology plan in place to prioritize what technology you decide to implement and when. In every case, when you are trying to implement a new technology, you will always encounter new things either from inside the company or outside the company. Therefore we won’t be able to focus on our aim, what is more, we may lose our path to implement the new technology and focus on another thing. If we have a technology plan we will plan our goals for near, mid-term long and long-term future.

 

 

If you want to start strong, steer clear of these funding fantasies. (http://www.entrepreneur.com/article/204198)

 

The article that I found explains 4 common venture capital myths. And the reading that we are assigned to read this week is mainly discusses the process of having a venture capitalist, such as explaining the ideas to the VC, talking the financial details with VC, managing the agreement with derivatives. In their opinion VC’s are masters of procrastination. They keep all options open until the last possible moment, and then they will invest. So in this process because VC’s are more experienced than entrepreneurs, entrepreneurs should be really careful about what they are doing.

The first myth is: “By demonstrating the tremendous value of my idea, I will be able to demand a high valuation for my new company.” The author discussed that, management of the money and the company depends on the amount of investment. And generally venture capital firms insist on owning at least 20 percent of all early-stage portfolio companies, which is called Lead VC.

The second myth is: “I am going to retain control of my company.” The author highlights that, after a single round of financing, the founders no longer have “control”, not to mention the specific veto rights that the VCs will have over key matters, such as acquisitions, the next round of financing.

The third one is: “By taking less money now, I will avoid dilution.” To remain attractive for the quick flip in a sale of company, entrepreneurs sometimes choose to raise lower amounts of investment         in order to eliminate dilution. And the author says that, even though they choose to have lower amounts of funding, the difference between the two amounts will not be huge. And he points out that “At the end of the day, start-up businesses fail for one reason: because they run out of money.”

The last myth is: “I am going to be able to choose the right VC for my company.” As GO Company also encountered this situation, they were talking about every single company to be invested by. And they decided not to call everybody, if they couldn’t get any answers then they would try to reach the others. The author also mentions that, if an entrepreneurs don’t have any experience, their job is really hard to get a venture capitalist. Therefore, they will be less selective because they need funding to run the company.

It’s not about starting over–it’s about empowering yourself to keep going.

(http://www.entrepreneur.com/article/198700)

In contras to the most of the articles, the article that I have found explains the positive sides of thinking whether it is time to quit or not. The author says that every entrepreneur challenges that make him question about quitting, trying new ideas or alternative career. Even though entrepreneur plans everything in his business there are always unpredictable things that my come up. And entrepreneur needs to be prepared for this kind of situations.

As entrepreneur processing his ideas in business, he will increase his experience and knowledge. Either negative or positive every experience that an entrepreneur gains will be the most important thing which will guide him to decide which way is best for him. And the author underlines that, even the negative results will open new unique opportunities. The author says that, entrepreneur should promise himself that he will only quit when the time is right. This frees entrepreneur so he can pursue all possible solutions. The author also says that, only an entrepreneur can block himself, the other obstacles only compel the entrepreneur but they help entrepreneur to gain experience. In these kinds of situations, by seeking solutions entrepreneurs gain energy and create distinctive methods for obtaining even greater success.

The author considers the entrepreneurs as an expert at testing new ideas and seeking them through to the end. They should view their business as an experiment, therefore every single attempt will add new knowledge and experience on the entrepreneur. Therefore, the author suggests entrepreneurs to fire their enterprising spirit and find new solutions to the current business instead of quitting.

http://www.entrepreneur.com/article/220558

 

The article that I found explains the importance of the innovation on the small companies. It discusses the difference between big companies and small companies on the innovation road. The question is why do large companies are not successful by doing innovations but acquiring. Because they have money, existing market share to launch startup easier than the small companies.  So there should be some reasons under that topic, and the author underlines the effects of people, culture, cost, organizational structure, and risk about that situation.

People and culture are the significant parts of the companies. They reflect their companies’ values. And to launch a startup, a company needs to have innovative entrepreneurs which is typically isn’t in a job description for a large company. Big companies generally hire new people, when they need more workforces rather than having people who think and come up a new idea. What is more, people who are working in large companies, generally work to achieve their goal for the company, not for the more. There are of course exceptions in that topic, for example Google forces their employers not to work on their current job but allows them to work on their individual projects. Which makes people more creative and causes them to come up new, innovative ideas. But most of the companies, this is not the case, they want their employers just finish their routine work as soon as possible.

If we look at the cost and organizational structure, the difference is about, because small companies or startups try to beg, borrow and barter to find funds. However large companies reinforce established processes, to accomplish same things at a much slower speed with more cost. That’s why, this lack of money triggers small companies to come up different, unique, solutions to solve the problems that leads to innovations.

Risk is the other important topic, which prevents large companies to give a chance for the new ideas. Instead of taking risk for the new ideas, they would prefer to buy the small companies which are successful for their launch ups.

 

Pitfalls abound when entrepreneurs decide to become partners. Know what they are ahead of time so you can set up guidelines that allow people to walk away if things go wrong. (http://www.entrepreneur.com/article/196912)

My article explains 7 things that entrepreneurs should avoid while setting up an agreement. And in the readings that we are assigned for this week is mainly discusses the importance of the partners. GO Company encounters difficulties while they are setting up agreements either with IBM or HP. They chose IBM to work out, but IBM set up couple of difficulties to deport GO Company from the field or use their technology like as their technology.

The author resembles the marriage and the partnership and mentions that half of all marriages don’t survive. Thus entrepreneurs have to be very careful about setting the partnership agreement. The first thing that he highlights is “Sharing capital instead of expenses”. If you share your own capital with your partner, you will automatically give away your enterprise ability he says. What is more, by doing that, it will be hard to break the deal and go away if things go wrong. In GO Company’s case, IBM was to get 50 percent of all revenues that GO Company received from parties other than IBM and licenses to all of the patents and copyrights. IBM’s royalties to GO would be capped, which means that, IBM would have free use of GO products. So IBM was really demanding and instead of helping the GO Company, their main aim is absorb the company and take their business advantage. The second one is “Partnering with someone because you can’t afford to hire”. If an entrepreneur has an idea and someone has the ability to implement that idea, instead of incorporate that person into the partnership with an agreement, just hire him or her or work out an independent contactor agreement. The other important point that we can relate to the GO Company is “Overlooking a limited partnership”. By doing that limited partner will not liable for the actions or obligations of the general partner. The other one is “Lacking an out or an exit strategy”. If GO Company would have set an exit strategy in the agreement, instead of selling the company or accepting the harsh conditions they would terminate the agreement having less damage.

These crucial points are related to the GO Company’s situation and if they would have described their business strategy better for themselves, they would see the future before that happen and sign the agreement with respect to that.


Business Model: A method by which a company generates revenue to sustain itself.

Data: Lowest level of abstraction.

Information: Data that are processed to be useful, organized data.

Knowledge: Application of data and information, answers “how” questions.

Main types of IT support systems:

  • MIS
  • Office Automation Systems
  • CAD/CAM
  • Communication and Collaboration Systems
  • Desktop Publishing Systems
  • Group Support Systems
  • Expert Systems
  • Knowledge Management Systems
  • Data and text mining
  • BI
  • Mobile Computing Systems

Text mining: Process of deriving high-quality information from text.

Cloud Computing: Delivery of computing as a service rather than a product, whereby shared resources, software, and information are provided to computer and other devices as a utility over a network.

(+) Access your data all time, a physical storage center no longer needed, payment when used, easily scalable

(-) Less control comes with handling over your data and information, dependence on a third party to ensure security confidentiality of data and information, long term dependence.

Virtualization: Creation of a virtual version of sth, such as hardware platform, operating systems, a storage device or network resources.

Saas: Instead of buying and installing expensive packaged entreprise apps, users access apps over a network, with an Internet browser being the only absolute necessity.

Database: Repository of enterprise data that business apps create or generate data. An organized logical grouping of related files.

DBMS: Programs used to create, manage, and access databases.

Data latency: The speed in which data is captures is referred to as data latency.

Data management: Structured approach for capturing, storing, processing, integrating, distributing, securing and archiving data effectively through their life cycle.

Data mining: Process of analyzing data from different perspectives and summarizing it into useful information.

Data quality: The degree of data accuracy, accessibility, relevance, timeliness, and completeness.

Data integrity: Trustworthiness of system resources over their entire life cycle.

Data warehouse: Specialized type of db that is used to aggregate data from transaction dbs for data analysis purposes, such as identifying and examining business trends, to support planning and decision making.

Characteristics of data warehouse:

  • Organization
  • Consistency
  • Time variant
  • Nonvolatile
  • Relational
  • Client/Server
  • Web-based
  • Integration
  • Real-time

Problems in db systems:

  • Data redundancy: Same data could be duplicated in several files.
  • Data inconsistency: Actual data values are not synchronized across various copies of the data.
  • Data isolation
  • Data security
  • Lack of data integrity
  • Data concurrency

Adv of DBMS:

  • Permanence
  • Querying
  • Concurrency
  • Back and replication
  • Rule enforcement
  • Security
  • Computation
  • Change and access logging
  • Automated optimization

Fiduciary Responsibility:

  • Avoiding conflicts of interest
  • Acting in the interest of company rather than the member’s personal interest
  • Providing oversight to assure that all company business is transacted legally
  • Making decisions to protect the assets of corporation.

Major categories of general data controls

è Physical controls

  • Appropriate design of the data center
  • Shielding against electromagnetic fields
  • Good fire prevention, detection

è Access Control

  • Using passwords, smart cards, signature voice, fingerprint or retina scan

Batch processing: Execution of a series of programs on a computer without manual intervention.

Risk management: Process of identifying, assessing, and reducing risk to an acceptable level.

Phishing: Is a way of attempting to acquire information such as username, passwords, and credit card details by masquerading as a trustworthy entity in an electronic communication.

Trojan horses: Malicious programs that provide illegal access to a network or account through network port.

BIA: Business impact analysis is an exercise that determines the impact of losing the support or availability of a resource.

Three layers of network security:

1st layer->Perimeter security (Network layer security)

  • Virus scanning, firewalls, IDS, Virtual private networking, DoS protection

2nd layer->Authentication (Proof of identity)

  • Username/pwd, pwd synchronization, PKI, tokens, biometrics, single-sign-on

3rd layer->Authorization (Permission based on identity)

  • User/group permissions, enterprise directories, enterprise user administrations, rules-based access control

Single sign-on: Property of access control of multiple related, but independent software systems.

Types of e-business transactions and models

  • B2B: Both the sellers and buyers are business organizations.
  • Collaborative commerce(c-commerce): Business partners collaborate (rather than buy or sell) electronically. Frequently occurs between and among business partners along the supply chain.
  • B2C:The sellers are organizations and the buyers are individuals.
  • C2C, B2B2C, C2B, Intrabusiness commerce.

Web analytics: Measurement, collection, analysis and reporting of internet data for purposes of understanding and optimizing web usage.

Adv and Dadv of single sign-on:

->ADV:

  • Improves the effectiveness/timeliness of disabling all network/computer accounts for terminated users.
  • Improves the admins’s ability to manage users and user configurations to all associated systems
  • Reducing IT costs due to lower number of IT help desk calls about pwds
  • Reduces phishing success, because users are not trained to enter password everywhere without thinking.

->DADV:

  • Using only one SSO can introduce a single point of network failure.
  • The SSO server and other host security must be hardened since weaknesses can now be exploited across the enterprise.
  • Substantial interface development and maintenance may be necessary, especially in absence of industry-based standards.

3G&4G: 3G enabled faster data transmission speeds, greater network capacity and more advanced network searches. 4G most widespread, high-speed wireless services. Only available in limited areas.

Ubiquity: Attribute of being available at any location at any time.

Mobile banking security risks: Using 3rd party applications instead of client apps offered by banks, automatic log-in or “remember-me”, storing account details in phone.

L-commerce: Location based,finding nearest ATM or FedEX drop box.

Web 1.0, 2.0 3.0: Web 2.0: Information sharing, interoperability, user-centered design, and collaboration on WWW. Web 3.0, semantic web, the computer is generating new information rather than humans. Evaluation of 3D web, tailor made, contextual or personalized search.

AJAX: Group of interrelated web development techniques used on the client-side to create asynchronous web apps.

Artificial Intelligence (AI): Intelligence of machines and the branch of computer science that aims to create it.

IT Strategic Planning: Organized planning of IT resources done at various levels of organization. Tools are;

  • Business Service Management
  • Business System Planning Model
  • Balanced Score Card
  • Critical Success Factors
  • Scenario Planning

Outsourcing: The process of contracting a business function to so else.

Offshoring: Relocation by a company of a business process from one country to another.

Interorganizational systems: B2B trading systems, B2B support systems, Global systems, EFT, Groupware, Shared dbs

Enterprise Information Systems: That provides a technology platform to enable organizations to integrate and coordinate their business processes.

ERP: Software that integrates the planning, mgmt., and use of all resources in the entire enterprise. Ex: Supports initial sup chain, CRM, knowledge mgmt. systems, business process management(involves the understanding and realignment of processes in the organization, including reengineering and managing the flow of activities and tasks), BI.

ERP Implementation Issues: ERP Vendor and product selection, matching commercial sw with organizational processes, installing ERP commercial sw, complexity of the sw, value generated from ERP systems, integration issues.

SCM: Efficient management of the supply chain end2end processes that start with the design of the product or service and end when it is sold, consumed, or sued by the end consumer.

CRM:Widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. To have order tracking, product configuration and customization, security/trust, online training and education for loyality value-added services.

Planning>Choosing supplier>Delivery or logistic>Defect and excess

On-demand: Hosted by a vendor on the vendor’s premise, in contrast to the traditional practice of buying the software and using it on-premise.

Knowledge management system cycle: Knowledge>Create>Capture>Refine>Store>Manage>Disseminate>Knowledge

Knowledge management: Process that helps organizations identify, select, organize, disseminate, and transfer important information and expertise that are part of the organization’s memory and that typically reside within the organization in an unstructured manner.

Agile Dev: Sw development methologies based on iterative and incremental development, where requirements and solutions evolve through collaboration between self organizing cross functional teams.

VPN: Connects remote sites or users together privately “virtual” connections routed through the internet from the company’s private network to the remote site or employee.

SDLC: Process of creating or altering information systems and the models an methodologies that people use to develop these systems. (Analysis>Design>Testing>Operations&Maintenance)

WLAN: Type of local area network that uses high-frequency radio waves rather than wires to communicate between computers or devices.

Types of networks: LAN(Local area network), WLAN(Wireless LAN), WAN(Wide area network), PAN(Personal area network)

İnternet güvenliğinde dünyanın en büyük firmaları listesinde ilk 10’a giren ABD merkezli Comodo, Türkiye pazarına girdi! Lise öğreniminin ardından Antakya’dan İngiltere’ye göç eden Melih Abdulheyoğlu’nun kurduğu ve halen CEO’luğunu yaptığı şirket, dünyada anti-virüste 10., SSL (güvenlik/gizilik protokolü) alanında ise 3. büyük pazar payına sahip.

ABD’de yaşayan Türk girişimciler Cemil Özyurt ve Ömer Güneş’in girişimiyle Türkiye’de ofis açan Comodo’nun CEO’su Abdulheyoğlu, “Türkiye’deki amacım, sadece ürünlerimi pazarlamak değil. Bütün derdim ABD’den Türkiye’ye teknoloji transferini gerçekleştirmek” dedi. Türkiye’de güvenlik alanında Amerikalı ve Rus teknoloji firmalarının da bulunduğunu hatırlatan Abdulhayaloğlu, “Fakat çoğunluğu ürünleri getirip Türkiye’de satıyor, parasını kazanıp ülkesine geri götürüyor. Bizim hedefimiz burada teknoloji üretimini gerçekleştirmek ve Türkiye’den dünyaya satabilmek’’ diye konuştu. Continue reading

Dad: I want u 2 marry a girl of my choice.
Son: No
Dad: The girl is Bill Gates’ daughter.
Son: Then ok
Dad goes 2 Bill Gates..
Dad: I want ur daughter 2 marry my son.
Bill Gates: No
Dad: My son is d CEO of the World Bank.
Bill Gates: Then ok
Dad goes 2 the President of the World Bank..
Dad: Apoint my son as the CEO of ur bank.
President: No!!
Dad: He is the son-in-law of Bill Gates.
President: Then ok!
This is BUSINESS..!