Impact of Digital Entrepreneurship, Technologies on Business & Society

This report explores the impact of digital entrepreneurship on business and society, emphasizing the use of digital technology in management. It covers various tools and software that provide companies with the benefits of digital technology, discussing the relationship between digital technology and both old and new management theories, such as classical, quantitative and system theories. Various e-commerce business models like B2C and C2C are examined, highlighting the benefits of adopting digital technology and its impact on companies, including improved resource utilization, data-driven decision-making, and market expansion. The report also touches upon the increasing scope of digital technology, the importance of digital transformation, and the associated risks and opportunities.

DIGITAL BUSIENSS AND
NEW TECHNOLOGIES

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
TASK-1............................................................................................................................................4
TASK-2............................................................................................................................................6
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

Executive summary
The report covers the impact of Digital Entrepreneurship on the business and society and
has reflected on the the importance of using digital technology in its management. It has also
covered the tools and software which has help the company to get various benefits of the digital
technology. The relationship between digital technology and its relationship with he old and new
management theories has discussed and various e-commerce business models such as B2C and
C2C has been discussed which highlights the benefits of adopting digital technology and its
impact on the company.

INTRODUCTION
Entrepreneurship helps in creating employment opportunities for others and their
activities affects the economy of the country by introducing new products and methods. The
topic chosen for the report is Digital Entrepreneurship impact on business and society and
covers the importance of the topic, technological platforms and software,how it is effective
(Jafari-Sadeghi, and et.al, 2021).The study also highlights the relationship between digital
technologies and both old and new theories such as decision making theory, system theory on
business and management structures and practices. Along with this various e-commerce business
model such as B2C, C2C, C2B etc.
MAIN BODY
TASK-1
A) Digital entrepreneurship refers to the various business methods that the company
management uses in order to make various modifications in the theories and practices by the
application of updated technologies. It involves new processes in order to make business digital.
The entrepreneur needs to ficus on the their goals by creating strategy which helps in moving
towards its goals (Satalkina, and Steiner, 2020). The digital entrepreneurship is reshaping the
business and also various services such as artificial intelligence and also various technologies
that increases the scope of digital world. It has helped the companies to focus on leveraging the
digital technologies or various digital business models in order to exploit various opportunities.
With the application of the digital technology also have positive impact on the economy(Elia,
and et.al, 2020). While conducting their business , the company has to focus on the impact on
the society due to their actions and with the new technology they can use various resources
which ultimately have positive impact on the society as well.
B) In Today's era company used various advanced technologies in their management such as
Artificial intelligence, cloud technologies which has helped the companies to avail the benefit
which has impact on the business and society . With the updated technologies , the company can
collect the data using these technologies which helps to analyse the current market and also the
performance of the employees so that the company can develop strategies accordingly(Zhang,
and Lu, 2021). Whereas in the past, thee were no advanced technologies through which the

company can easily accomplish the business activities but today it is very important for the
companies in order to expand its market adopt latest technologies in their management.
C) For the entrepreneurs, it is very necessary to use the relevant technologies in order to exploit
the opportunities and succeed in the market. It will help in gaining competitive advantage and
expand its business globally.
 Cloud native technology: This type of technology offers scalability and speed through
which every business can conduct their activities in effective manner(Du,and et.al,
2020,). Various entrepreneurs focus on transforming their company into digital in which
the technology helps in transforming but in the cloud native platform services are
accelerated.
 Marketing tools : With the changes in the digital world various marketing techniques
have emerged and in order to be successful the entrepreneurs can apply the tools so that
they can reach their potential customers through social media, email campaigns etc.
These marketing tools helps the management to implement best practices by conducting
their business activities .
 Artificial intelligence engines: These engines help in identifying the impact of internal
and external factors on the business operations and also the customer trend through the
data collected which help the company to analyse the and make improvement after
analysing the data(Gkikas, and Theodoridis, 2019).
D) Software and tool that can be used by digital entrepreneurship are :
 Project management tools: In order to keep a track on the performance of the business ,
it is necessary for the company to use the platforms such as Trello and Wrike as these
tools gives transparency about the current position of the project in its life cycle and also
allow to trace the progress of the performance of the company.
 Collaboration and communication tools: If the employees are working in remote areas
it is very important to communicate among the team members , suppliers and partners.
With the help of effective tools, the company can coordinate with their
employees(Marion, and Fixson, 2021). The various communication tools can be Zoom
that allows the company and their team members to easily coordinate and attends meeting
and seminars.
E) Companies using digital technologies:

Every company operating in any sector uses latest technologies in their management in
order to exploit the opportunities and also to succeed in the market .With the help of these the
company collect the data and analyse their current position in the market which will help the
company to make strategies and improve its performance. With the use of effective tools the
company can reduce their extra costs which can be invested in further research and development
of the company. The companies like Tesco which has digitally transformed their business model
and invested more on their websites for better customer experiences and also to improve the
brand image of the company.
F) With the help of digital technology the company can make various changes in its business
management which help the company to enjoy various benefits which can affect its profitability.
With the help of digital transformation , it helps the company to collect the relevant data which
helps in evaluating its performance in the market and also understand the customer preferences.
Another benefit is that with the help of effective digital tools the company can make optimum
utilisation of resources which help the company to reduce the costs and make further investment
which benefit in future.
TASK-2
In the present situation, the scope of digital technology is increasing rapidly and further
continue to grow in future. Due to various changes in the environment and technological
changes , the company has also realised the need to move toward digital transformation as it help
in the growth of the business(Ting,and et.al, 2020) . With the help of this the fir can easily
manage their resources effectively and also with the application of effective tools they can easily
collect the data and analyse the market trends and frame strategies accordingly. It not only help
the organisation to expand its market but also help the company to better understand their
customer.
With the emergence of pandemic has forced the company to move towards adopting
various new technologies and software which has helped the company to make improvement that
was caused due to loss during pandemic and also its position in the market. But before
implementing such changes within the company it s very important company to know the
advantages of adopting such technology and then move towards digital transformation. The
digital entrepreneurship impacts the level of innovation system resulting in changes in the goals
and framework of the overall management of the company. It is observed that digital

technologies help in creasing opportunities for the company but on the other hand it also
involves higher risk associated with the business activities .
Basically the digital entrepreneurship is the various methods of business the the management
applies in order to changes the theories and practices of the company with the help of advanced
technologies . With the help of moving towards digital world the company can take crucial
decisions which can help in achieving the objectives of the company. The another benefit is that
if the company wants to expand its business in international markets , the company can sell their
products online and wit the effective tools the company can analyse their demand of the
customers of their products which help the company to plan their marketing strategies
accordingly. In the past , their was not that much effective technologies which the managers can
use and have to limit their operations in the resources than have. The management uses old
practices which resulted in much utilisation of there coses and resources which resulted in less
profits for the company as compare to present times.
The management theories is classified into classical, behavioural and modern theories of
management and states the evolution of these theories with the advancement of various factors .
 Classical management theory: The classical theory of management is the oldest form
of theories that focuses on operations and creation of the standards with the purpose of
increasing the output of the company. In this theory , the mangers use scientific
approaches in order to improve their operations(Günbayi, and Sorm, 2018). But with the
passage of time and introduction of various new technologies , this theory is not of much
importance and the manager use various methods and tools in order to improve the
efficiency of employees and of the company.
 Quantitative theory: This theory is part of modern management theory and is based on
using the effective tool in order to analyse the market trends with the effective data
collection tools which will result in measuring the performance of the
company(Anderson, and et.al , 2019). The theory states that with the helps of experts
advice the company can solve the issues and also help in better decision making.
 System theory: Employees are considered as the most valuable assets of the company
and also the various department such as HR, finance , marketing department etc. The
manages with the sue of effective tools evaluate the patterns and culture of the company
in order to apply the most appropriate approach for effective functioning of the

company(Han, and et.al, 2018). It will also help in effective communication among the
teams and also improve the work environment of the company. With the application of
digital technology the mangers can easily evaluate the capabilities of the employees and
make improvements in order to succeed in the market .
In order to acquire the maximum market share , and brand recognition, the company adopt
various digital marketing strategies which helps the company to promote its products and
services on the social media sites such as Facebook and Instagram so that more number of users
will come to know about the products and services the company is offering in order to increase
the profitability of the company .
E- commerce refers to the business model that enable the company to buy and sell their
products through internet. The business activities can be conducted over computers, smartphones
and use of other smart devices. With the help of e-commerce the company can excess to the
wider markets which also help in expanding its market in various different regions . With the
help of advanced technology , the scope of e0commerece is also increasing as it helps the
company to make effective market research with the use of effective tools.
With the application of e- commerce the companies sell there products online where they
offer their products through electronic commerce that help in reducing the costs of the company
which they can invest further in research and development process. Through e-commerce the
organization can increase the brand image of the company and can expand its business and
diversifying the sales of the company.
 Business to consumer(B2C): This method is used widely by the business as hey
sell the products to the end users. With the help of various website, customer can
view the products that is displayed on the website and can order the same(Boyce,
and Mano, 2018) . IN this process the website coordinate with the company and
then the respective company dispatched the products ordered by the customer. For
example: Amazon , Walmart etc.
 Consumer to consumer(C2C): With the help of website the consumers sell their
products online such as cars , property etc. The website on which it is displayed
may charge or may not charge the fee depending upon the policy of that
website()Bacile, and et.al, 2018. The other consumer can simply view the
advertisement on the website and make their choices accordingly.

CONCLUSION
From the above report it can be concluded that with the change in the advancement of
technology , it is important for the company to adopt those changes which help in improving the
efficiency of the operations of the company and also with the bets data collection method will
help to evaluate the market trends and performance of the company and on the basis of that they
can create strategies which help in long term sustainability in the market and also helps in
expanding its business in international market.

REFERENCES
Books and journals
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recovery. Journal of Interactive Marketing. 44. pp.60-81.
Boyce, W.S. and Mano, H., 2018. An inquiry into the supplier selection decision from the
business-to-consumer (B2C) perspective. Journal of Business & Industrial Marketing.
Du,and et.al, 2020, December. A Cloud-Native Based Access and Mobility Management
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Marion, T.J. and Fixson, S.K., 2021. The transformation of the innovation process: How digital
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Ting,and et.al, 2020. Digital technology and COVID-19. Nature medicine. 26(4). pp.459-461.
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