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Entrepreneurship and How to Shift From Innovation to Implementation Especially With the Coming of the Digital Age Free essay! Download now

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Entrepreneurship and How to Shift From Innovation to Implementation Especially With the Coming of the Digital Age

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Downloads to date: N/A | Words: 5712 | Submitted: 12-Jan-2015
Spelling accuracy: 99.1% | Number of pages: 21 | Filetype: Word .doc


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Entrepreneurship and How to Shift From Innovation to Implementation Especially With the Coming of the Digital Age essay previewEntrepreneurship and How to Shift From Innovation to Implementation Especially With the Coming of the Digital Age essay previewEntrepreneurship and How to Shift From Innovation to Implementation Especially With the Coming of the Digital Age essay preview

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effects of modern technology on enterpreneurship

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Entrepreneurship and How to Shift From Innovation to Implementation Especially With the Coming of the Digital Age
Introduction
Entrepreneurship has been part of human development since prehistoric times. All the current achievements made by human beings are directly because of putting an innovative idea into a product or a service. The sustained innovativeness has given rise to the most complex and yet very sophisticated aspect, technology (Baron 3). Specifically, the digitalization of almost every aspect of life. This has resulted to changes that have not only affected social life of humans but also the approach to doing business and productivity in general (Zhou 3). The effects of digital technology on the business world cannot be ignored, as all business processes must have a digital component (Zahra 3). This has resulted to the business world becoming a form of technology as numerous organizations operate on the platform of technology. Therefore analysing the impact of technology in the business world is necessary. To be able to examine this issue, this paper focuses on the approach of converting innovative ideas into products or services with referenced to the effect of digital technology
Background information
The up-crop of digital civilization has resulted to business organizations undergoing mobile and social revolution. This has resulted to digitalization of business enterprises as well as digitalization of organizational culture (Gartner, Carter, and Reynolds 100). This has resulted to numerous changes that make most people and businesses to interact via the internet. In fact, the concept of going online is uncommon since people are always online. However, there have emerged new challenges due to the limited planning in the current error that is ruled by the internet. Businesses and individuals have developed a close dependence on the internet to an extend that its influence in the business world has overpowered the oil industry (Adner & Levinthal 43). It is the driving form of any business initiative in the 21st century.
Digital technology has also influenced the approach to business leadership. Leadership aspects such as clarity of intent, empathy, risk management and trust have become more important in business leadership in the 21st century (Zahra 2). Another important development in organizations that has been influences by digital technology is organizational structure, in this context, more and more organizations are adopting horizontal organizational structure with high levels of decentralization. Generally, technology has reduced the gap between staff and management in an organization.
Furthermore, the expectations of employees and customers have also shifted in the current business world. Generally, organizations are expected to be innovative in order to remain competitive. To be specific, the advent of technology has resulted to two types of organizations, those that are focused on cost effectiveness and those that are innovative ...

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