Analysis of Digital Economy - Research Paper Example

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 This paper discusses the characteristics of the digital economy, as well as definitions of an entrepreneur and entrepreneurship. The paper focuses on the growth of e-commerce, the internet and the new frameworks under which firms will attain success. …
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Analysis of Digital Economy
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Download file to see previous pages In the digital economy, digital networking, as well as communication networks provide a global platform, which allows people and institutions to establish strategies, interrelate and collaborate in searching for information.
In the popular Blown to Bits, Wurster and Evans assert that the sudden increase of the digital economy or e-business bears massive challenges to long-established institutions that run well. Therefore, if the digital economy poses such substantive dangers to established businesses, then it is a wonder how much more threats the digital economy poses to the future of the entrepreneur. Currently, there is relatively little research on the effects of the digital economy with regard to the field of entrepreneurship. On the other hand, there are insignificant quantities of research on the role played by the conventional entrepreneur in the establishment, as well as the growth of the digital economy. On one hand, one cannot deny the lure of popular press that draws attention to the phenomenal success of a number of entrepreneurs like Amazon.com’s Jeff Bezos. The quantity of millionaires in many fields and projects grows at unbelievable rates. However, most of these persons only possess technical skills, but just happened to be in the right place at an opportune time, rather than the standard entrepreneur who is intensely devoted to the growth of a business.
The Internet, has, on the other hand, set up a level playing field as a famous cartoonist put it, through the Internet; no one knows one is a dog. Simply put, this means that even small businesses that struggle to even raise registration fees can also place themselves in a spectrum that is populated by the major players of the industry. A recent literature review for the year 2002 on the subject of entrepreneurship and e-business realized only six academic articles.   ...Download file to see next pagesRead More
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