Cases on Digital Entrepreneurship: How Digital Technologies are Transforming the Entrepreneurial Process in Existing Businesses and Start-ups

Digital technologies are changing the creation of new ventures by providing new tools, platforms, and opportunities for entrepreneurs. Key skills for entrepreneurs in the digital age include digital literacy, adaptability, and creativity. Digitalization is changing product design and communication with customers, and small businesses in non-digital industries can overcome the digital divide by adopting digital technologies and strategies. This book provides real-world case studies and lessons learned from entrepreneurs to help students understand the changing landscape of entrepreneurship in the digital age.

Format: Hardback
Length: 288 pages
Publication date: 28 February 2023
Publisher: Edward Elgar Publishing Ltd

Digital technologies are revolutionizing the landscape of new venture creation, presenting both opportunities and challenges for entrepreneurs. In this digital age, entrepreneurs must possess a diverse range of critical skills to succeed. Firstly, they need to be adept at leveraging digital platforms and tools to reach and engage with customers, effectively marketing their products or services. Secondly, they must be skilled in data analysis and interpretation to gain insights into consumer behavior and tailor their strategies accordingly. Thirdly, they must be comfortable with ambiguity and change, as the digital world is constantly evolving, requiring quick adaptation and innovation.

Moreover, digitalization is reshaping product design and communication with customers. With the advent of digital technologies, entrepreneurs can create and deliver products and services in new and innovative ways, using technologies such as artificial intelligence, virtual reality, and blockchain. This allows for greater customization and personalization, enhancing customer satisfaction and loyalty. However, it also requires a deep understanding of customer needs and preferences, as well as the ability to adapt to changing market trends and demands.

Small businesses in non-digital industries face significant challenges in overcoming the digital divide. They may lack the resources and expertise to adopt digital technologies, which can limit their competitiveness and growth potential. However, there are several strategies that small businesses can employ to bridge the digital divide. Firstly, they can focus on identifying specific digital opportunities that align with their business goals and target audience. Secondly, they can seek out partnerships or collaborations with digital companies or experts to gain access to the necessary resources and expertise. Thirdly, they can invest in digital marketing and advertising campaigns to reach a wider audience and increase their visibility online.

In conclusion, digital technologies are transforming the creation of new ventures, and entrepreneurs must possess a diverse range of critical skills to succeed in this digital age. Digitalization is reshaping product design and communication with customers, and small businesses in non-digital industries can overcome the digital divide by identifying specific digital opportunities, seeking out partnerships, and investing in digital marketing and advertising campaigns. This book provides valuable insights and case studies from real entrepreneurs in various industries, countries, and types of business, helping teachers and students of entrepreneurship, innovation management, new venture creation, marketing, and strategy understand the changing landscape of entrepreneurship in the digital age.

Dimension: 234 x 156 (mm)
ISBN-13: 9781802203851