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VOL. 3, ISSUE 2 (2018)
The digital revolution: Entrepreneurial threats & prospects
Authors
Shalu Singh, Archana V
Abstract
Digitization is the global phenomena & is visible in every business. Today’s era is of digitization and it’s changing the business patterns. The customer wants fast and flawless experience, thanks to digitization which made customers life experience just a click away. Today we all use the benefits of the digitalization irrespective of any field and business. Tailored websites, global 24x7 accesses, e-marketing making an impact on consumer behaviors along with marketing trend. Information (Awareness) in the community has increased a lot over the years and everyone witnessing a multi option and multifold choice based decision making especially from new, young and tech savvy customers, who are exhibiting high risk attitude, ready to opt & try new options. Thus digitalization changes the game or even disrupts the game of entrepreneurs. It is important for the entrepreneur to visualize the opportunity and risk of digitization based on their business area, business model, strategy, customer segment, distribution channel, revenue methods. There is a definite need between information needed by corporate and research available on changing patterns of digitization with the globalization influence more than ever, in the startup ecosystem with technology penetration in everyone’s personal and social lives, cultural mix up at multi points driving new queries on what consumers are looking for. There is a cut throat completion in all the businesses and it’s getting challenging to survive and sustain the business, hence digitization has become the turnkey for majority of entrepreneurs. Digitization is becoming the lifeline of businesses as activities and workflows are getting automated thus making consumer jobs easy and hassle free, at the same time adding information overload to consumers who are yet to join digital revolution.
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Pages:1059-1060
How to cite this article:
Shalu Singh, Archana V "The digital revolution: Entrepreneurial threats & prospects". International Journal of Academic Research and Development, Vol 3, Issue 2, 2018, Pages 1059-1060
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