Information And Communication Technologies Report

Running head: INTRODUCTION TO BUSINESS
INTRODUCTION TO BUSINESS
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INTRODUCTION TO BUSINESS1
Development of digitization and advancements in information and communication
technologies (ICT) is modifying the global business landscape by transforming business
practices and creating avenues for novel types of entrepreneurial activities (Sachs, 2015). This
type of entrepreneurial practice is known as digital entrepreneurship which is viewed as new
business creation opening generated by ICTs related to internet, mobile technology and digital
platforms. The complex role of globalization has been creating major transformations in process
through which companies are organizing production, trade goods, capital investment and
development of new products and practices (Ngoasong, 2015). The following essay will analyse
ways in which digital entrepreneurs are seizing global business avenues through technological
innovations. Furthermore, it will shed light on the complex role of globalization. It will further
evaluate skills and business structure suitable for influencing technology innovations and
whether digital entrepreneurship meets any of United Nation’s sustainability development goals.
Discussion
With globalization, companies are not able to maintain their stability in the industry.
Thus, they either need to innovate or will lag behind the ones who are accepting technological
innovations. By undergoing the new reality, companies across sectors are gradually identifying
the need to offer employees the liberty of distinguishing relevant opportunities and pursue them
for entrepreneurial action to develop product as well as service innovations as well as to
strategically alter their organizing explanations (Ono, Lida & Yamazaki,2017). Globalization has
resulted in a saturation of markets in all sectors. Such saturation tends to pose considerable
obstacle to entry for new businesses, while putting significant level of pressure on established
organizations in order to remain competitive. However, entrepreneurs can optimize all aspect of
business owing to cloud computing, Artificial Intelligence and predictive analytics. According to

INTRODUCTION TO BUSINESS2
Ngoasong (2015), the globalization of economies has amplified the importance of
entrepreneurial activities for developing economies. Furthermore, demographic changes along
with liberalization of national economies along with technological developments have combined
in order to increase the demands for greater social awareness within businesses. Contradictory
statements have revealed that globalization has resulted in a shift from an industrial to an
entrepreneurial model of production.
In the view of Ono, Lida and Yamazaki (2017), globalization is explained as a degree of
shock in the delivery of unskilled labour to the global business environment with a decline of
political risks linked to foreign direct investment and extensive use of ICT. On the contrary,
accepting globalization comprehensively has become a necessity in order to respond at global
level from the initiation in order to obtain the benefits of a broader audience and to execute rapid
growth. However, in the view of Giones and Brem (2017), thinking globally poses challenges
with extensive degree of political uncertainty. While executing operations across the world,
entrepreneurs have to manage curveballs which the political sector is likely to throw related to
changes in governments, new regulations and additional factors which are not under the
regulation of entrepreneur.
With global scenario, globalisation along with rapid growth of information technology
sector, companies are seeking prospects for expansion. For creating an innovative organizational
setting for companies in global business context, it is assumed that companies have minimum set
of creative competencies in order to facilitate technological innovations for conducting its
business as well as generate novel concepts. As per Ono, Lida and Yamazaki (2017), in many
situations, service innovation possibly will enable technological innovation or new service
characteristics rather than altering the method implemented in order to deliver the service. By