Electric Cars & Hyper Automation: An Entrepreneurial Exploration

This essay examines the entrepreneurial opportunities presented by two key emerging technologies: electric cars and hyper-automation. It begins by outlining the strengths and weaknesses of each technology, noting the potential of electric cars to replace internal combustion engines and the ability of hyper-automation to optimize workflows. The essay then discusses the application of Max Weber's social change theory to facilitate the adoption of these technologies. It also introduces a hypothetical new automotive venture, “Alset Automotive Industry,” which aims to integrate both technologies into its car designs. The essay references academic works to support its analysis of entrepreneurship and social change.

Entrepreneurship
Introduction
•In very short span of time the technology has
exploded vastly in the market and has created
the multiple opportunities for the businesses.
•Electric cars and hyper automation are two
most well known emerging technologies in
the current market. Strengths and weaknesses of Electric cars technology
Strengths
• the electric car technology uses the chargeable battery
which eliminates the usage of the gas or fuel.
Weaknesses
•The lack of trained and educated workforce is major
weakness as the people are not well- versed with such new
technology.
Business idea
By utilizing the opportunities of
electric car technology and hyper
automation technology the new
automotive venture is developed. The
name of the new venture is “Alset
Automotive industry”. The new
venture has produced new cars that
contain characteristics of two new
emerging technology that is hyper
automation and electric car
technology.
Overview of two key emerging technology
Electric cars
The electric car technology is one of the technology in
which the there is the replacement of the internal
combustion engines with the electric motors. The
electric car technology utilizes large traction battery
and machine pack that power the electric engines.
Hyper automation
The word hyper-automation was first derived in 2019
by the IT research and advisory film Gartner. Hyper-
automation is a advanced technology that focus on the
level of the automation in an organisation at the global
context.
Strengths and weaknesses of Hyper- Automation
technology
Strengths
• it optimizes the workflow in the businesses as it ensures
that allocation of the iterative tasks is accomplished
systematically and expeditiously.
Weaknesses
• the hyper- automation has completely decreased the
importance and value of the human hands and efforts.
Max Weber- Social change theory
In order to have effective social
change with the two emerging
technologies i.e. electric cars and
hyper-automation the social change
theory of the Max Weber's is
crucial. As for the effective social
change there is the rise of capitalism
and rationale view with the
economy.
Opportunities of electric car
technology in developing
business models
•Transportation
•Construction
•Households
Opportunities of hyper-
automation technology in
developing business models
•Hotels and Restaurants
•Hospitals
•Education
References
•Aldrich, H., 2017. Learning together: National differences in entrepreneurship
research. The Blackwell handbook of entrepreneurship, pp.5-25.
•Winter, I.C., 2021. The radical homeowner: housing tenure and social change.
Routledge.