Digital Entrepreneurship Strategies
08.06.2024Digital entrepreneurship involves the creation of internet-powered business models. It’s not tied to an area of operation and makes use of laptops, smartphones and the internet to sell products and services, like electronic books. Its growth has reduced the size of the world and opened up new business opportunities. It has also made it easier for traditional companies to move into digital technology to keep their existing customers and expand beyond their physical locations.
Digital entrepreneurs require a variety of strategies to establish and sustain an internet-powered company. These strategies include scalable business models as well as strategic networking and partnerships. They also include effective communication and perceptive management. Digital entrepreneurs must also possess an unwavering outlook and be able to tackle roadblocks.
In the process of creating and deploying a scalable digital artifact the digital entrepreneur needs to be able identify the value proposition that is valid (VP). Typically, this means the recognition and use of disruptive value propositions that can transform business practices into digital business models or generate new ones completely. Netflix, Airbnb, and Uber are examples of digital entrepreneurs that have adopted this strategy.
Case study research is an effective method to study digital entrepreneurialism. This is because it allows the contextual investigation of real-world phenomena and can aid in answering the ‘What’ and ‘How’ questions.