scholarly journals Developing a Digital Entrepreneurial Mindset for Data-Driven, Cloud-Enabled, and Platform-Centric Business Activities: Practical Implications and the Impact on Society

2020 ◽  
pp. 3-21
Author(s):  
Mariusz Soltanifar ◽  
Edin Smailhodžić
Keyword(s):  
Business Models ◽  
Digital Technologies ◽  
Data Driven ◽  
The Internet ◽  
Success Stories ◽  
Challenges And Opportunities ◽  
Definition Of ◽  
The Impact ◽  
The Internet Of Things ◽  
Practical Implications

AbstractThe term ‘digital’ concerns not only technology but also people. This chapter emphasises the necessity of adopting a digital entrepreneurial mindset when operating in a digitised world. The chapter proposes a definition of a digital entrepreneurial mindset that is rooted in cognitive psychology, organisation theory and entrepreneurship literature. We also focus on the five trends that are shaping the digital future: mobile computing, cloud computing, social media, the Internet of Things and Big Data. The chapter discusses the challenges and opportunities that pervasive digitalisation offers for designing new digital business models and changing interactions with customers. Discussing the success stories of Domino’s Tesco and Tate Art Galleries helps to examine data-driven, cloud-enabled, platform-centric business activities, for which developing a digital entrepreneurial mindset is the first step towards success in the digital age. Collectively, the aforementioned cases suggest that businesses that rely on a digital entrepreneurial mindset enjoy better financial performance. Both managers and employees in these companies have shown the inclination and ability to discover, evaluate and exploit opportunities emerging from digital technologies. This chapter also provides a practical guide for entrepreneurs on the steps they can take to encourage a digital entrepreneurial mindset throughout their entire organisations. Finally, we elaborate on the practical implications of adopting a digital entrepreneurial mindset and its impact on society.

scholarly journals Finance 4.0 as the Idea of Digital Transformation of the Financial Sector

2020 ◽  
Vol 20 (2) ◽  
pp. 134-148
Author(s):  
Vitaliy Ya. Pelykh
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Rapid Development ◽  
Digital Technologies ◽  
Financial Sector ◽  
Scientific Publications ◽  
Research Problems ◽  
Definition Of ◽  
Impact Of Technology ◽  
The Impact

Rapid development and introduction of digital technologies has a significant impact on all areas of the economy. Everywhere causing a revision of existing paradigms, ways of interacting systems and aspects of business models. The author’s analysis of scientific publications shows that the recent financial crises are based on high risks of the traditional banking model, which are transferred to depositors and taxpayers. These processes have served as a driver for changes in the financial sector, changing existing concepts and paradigms towards the implementation of new digital approaches. The author, based on the analysis of the impact of technology on financial services, proposed the concept of Finance 4.0 implies a deep integration of digital technologies in the financial sector, which will lead to an increase in the quality and availability of services, as well as the formation of new rules that ensure healthy competition between market participants. As a result, the need for changes in both the economy as a whole and its branches is determined. This creates a need to develop current digital business models and methods for developing digital financial services. The purpose of the work is to offer a reasonable definition of Finance 4.0, as well as to identify the current requirements necessary for the implementation of the developed solutions within the financial environment. Which requires solving a number of research problems: 1. No definition of Finance 4.0. 2. Aspects of Finance 4.0 Are not defined. 3. It is Necessary to define the role of business models in the field of financial technologies. The relevance of the research is due to the fact that existing approaches to designing business models of financial services do not take into account the specifics of the idea of Finance 4.0 and the primacy of trust, which sometimes leads to the implementation of unprofitable solutions in the financial sector.

scholarly journals Digital Technologies in the Process of Virtualization of Consumer Behaviour – Awareness of New Technologies

Management ◽  
2018 ◽  
Vol 22 (2) ◽  
pp. 187-203 ◽  
Author(s):  
Dominika Kaczorowska-Spychalska
Keyword(s):  
Artificial Intelligence ◽  
Internet Of Things ◽  
Consumer Behaviour ◽  
New Technologies ◽  
Digital Technologies ◽  
The Internet ◽  
Economic Dimension ◽  
Production Logistics ◽  
The Impact ◽  
The Internet Of Things

Summary Digital resolution is currently one of the most important forces determining changes and their dynamics in the social, cultural and economic dimension. Digital technologies such as the Internet of Things and Artificial Intelligence will, according to Gartner’s Hype Cycle for Emerging Technologies 2017, play an increasingly important role while creating a new quality of the market space. Yet, these are multidimensional issues whose potential should be considered both, from the perspective of enterprises that create and/or adapt such technologies in their production, logistics or sale processes as well as in consumer perspective taking into account a degree of awareness, interest and fascination of potential buyers, users with such devices and solutions. This is determined by dualism of approach to digital technologies (economic approach vs. humanistic approach) and evaluation of their potential benefits and threats. It seems, however, that virtualization of consumer behaviour as a consequence of impact of technologies such as the Internet of Things and Artificial Intelligence, can at the same time be a significant driving force of further processes of digitalization, its dimensions and dynamics. The article attempts to identify the impact of digital technologies (IoT and AI) on attitudes, preferences and decisions of consumers and presented discussion was based on the results of own studies in the analysed area.

scholarly journals Unleashing the Creativity of Entrepreneurs with Digital Technologies

2020 ◽  
pp. 23-49
Author(s):  
Robert D. Hisrich ◽  
Mariusz Soltanifar
Keyword(s):  
Artificial Intelligence ◽  
Virtual Reality ◽  
Internet Of Things ◽  
Focus Groups ◽  
Digital Technologies ◽  
Digital Age ◽  
The Internet ◽  
Inventory Analysis ◽  
The Internet Of Things ◽  
Practical Implications

AbstractFor decades, creativity has been used to generate ideas among entrepreneurs and their teams. Although extensive research has been conducted on creativity, the majority of studies have focused on traditional ways of stimulating creativity, such as focus groups, the collective notebook method, brainstorming, brainwriting, reverse brainstorming and problem inventory analysis. However, the digital age appears to challenge much of this existing work on the nature of creativity. It is clear that online creativity and audiences are affecting the meaning, expression and impact of creativity. The traditional techniques of stimulating creativity have been replaced and aided by technology-driven innovations, such as artificial intelligence (AI), virtual reality (VR) and the Internet of things (IoT). This chapter explores ways to activate the creativity of entrepreneurs and their teams through the use of digital technologies. We believe that this chapter provides a rich source of examples on how technology is currently being used to support creativity by encouraging entrepreneurs and their teams to make connections, develop ideas, create meaning, collaborate and communicate. We present, in detail, three case studies and discuss practical implications for the future.

Innovation Platforms

2018 ◽  
pp. 96-112
Keyword(s):  
Business Model ◽  
Business Models ◽  
Service Innovation ◽  
General Definition ◽  
The Internet ◽  
Policy Makers ◽  
Research And Practice ◽  
Innovation Strategies ◽  
Definition Of ◽  
The Internet Of Things

This chapter reports on a study of the taxonomy of innovations for the internet of things (IoT) products and services. The analysis and discussion lead to a multidimensional framework of innovations, with a particular emphasis on a technology stack, business models, products, services, and platform innovations. The authors argue that a multi-sided platform might possibly be a successful business model for the adoption of IOT products and services. They develop IOT business-model pattern and the general definition of a IOT multi-sided platform. The research contains guidelines to help practitioners and policy makers develop platform-enabled IoT innovation strategies through the consideration of various levels of business models and MSP strategy. It offers a relevant source of ideas and guidance for anyone interested in research and practice related to rethinking IoT, product, and service innovation.

The Role of the Internet of Things in the Improvement and Expansion of Business

2018 ◽  
Vol 30 (3) ◽  
pp. 24-44 ◽  
Author(s):  
Hodjat Hamidi ◽  
Maryam Jahanshahifard
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
Present Report ◽  
The Internet ◽  
General Logic ◽  
In The Beginning ◽  
Almost All ◽  
The Impact ◽  
Near Future ◽  
The Internet Of Things

The Internet of Things (IOT) has been examined in several perspectives based on the goals and visions of the present report. First, in this report based on previous studies, the general framework of business models in the Internet of Things has been analyzed, and then the suggested framework is presented. In the following, the business models of the Internet of Things and the impact of Internet of Things on the existing business models are studied. Thus, first of all, recognizing the elements of business models related to the Internet of Things is essential which has been addressed in the report. The results of different studies led to recognition of almost all business models in this field and to stating the most important components of the business models affected by the Internet of Things. The authors are still in the beginning of the process of Internet of Things. Most of the companies are willing to offer and sell the connected products and in near future, the majority of organizations will adopt more complex and ecosystem models. The purpose of this report is to offers social and business ideas to innovators so they can improve business models using the Internet of Things. This report examines the business models and proposed existing frameworks along with the economic energy of Internet of Things according to the successful projects in this scope, and offers the general logic for services or products that can be used as the basis of specific elements and patterns of business models of IOT.

scholarly journals Tangibly understanding intangible complexities: Designing for distributed autonomous organizations

2019 ◽  
Vol 6 (1) ◽  
pp. 47-63 ◽  
Author(s):  
Bettina Nissen ◽  
Ella Tallyn ◽  
Kate Symons
Keyword(s):  
Distributed Systems ◽  
Interaction Design ◽  
Digital Technologies ◽  
Interactive Systems ◽  
Collaborative Practice ◽  
The Internet ◽  
The Face ◽  
Future Technologies ◽  
The Internet Of Things

Abstract New digital technologies such as Blockchain and smart contracting are rapidly changing the face of value exchange, and present new opportunities and challenges for designers. Designers and data specialists are at the forefront of exploring new ways of exchanging value, using Blockchain, cryptocurrencies, smart contracting and the direct exchanges between things made possible by the Internet of Things (Tallyn et al. 2018; Pschetz et al. 2019). For researchers and designers in areas of Human Computer Interaction (HCI) and Interaction Design to better understand and explore the implications of these emerging and future technologies as Distributed Autonomous Organisations (DAOs) we delivered a workshop at the ACM conference Designing Interactive Systems (DIS) in Edinburgh in 2017 (Nissen et al. 2017). The workshop aimed to use the lens of DAOs to introduce the principle that products and services may soon be owned and managed collectively and not by one person or authority, thus challenging traditional concepts of ownership and power. This workshop builds on established HCI research exploring the role of technology in financial interactions and designing for the rapidly changing world of technology and value exchange (Kaye et al. 2014; Malmborg et al. 2015; Millen et al. 2015; Vines et al. 2014). Beyond this, the HCI community has started to explore these technologies beyond issues of finance, money and collaborative practice, focusing on the implications of these emerging but rapidly ascending distributed systems in more applied contexts (Elsden et al. 2018a). By bringing together designers and researchers with different experiences and knowledge of distributed systems, the aim of this workshop was two-fold. First, to further understand, develop and critique these new forms of distributed power and ownership and second, to practically explore how to design interactive products and services that enable, challenge or disrupt existing and emerging models.

A four-step blueprint for digital reinvention

2016 ◽  
Vol 44 (4) ◽  
pp. 18-25 ◽  
Author(s):  
Saul J. Berman ◽  
Peter J. Korsten ◽  
Anthony Marshall
Keyword(s):  
Internet Of Things ◽  
Design Methodology ◽  
The Internet ◽  
Content Type ◽  
New Ways Of Working ◽  
Partner Relationships ◽  
Strategic Focus ◽  
The Internet Of Things ◽  
Practical Implications ◽  
Customer Need

Purpose Digital reinvention helps organizations create unique, compelling experiences for their customers, partners, employees and other stakeholders. Design/methodology/approach Digital reinvention combines the capabilities of multiple technologies, including cloud, cognitive, mobile and the Internet of Things (IoT) to rethink customer and partner relationships from a perspective of fundamental customer need, use or aspiration. Findings The most successful digitally reinvented businesses establish a platform of engagement for their customers, with the business acting as enabler, conduit and partner Practical implications For successful digital reinvention, organizations need to pursue a new strategic focus, build new expertise and establish new ways of working. Originality/value The article offers a blueprint for digital reinvention that involves rethinking customer and partner relationships from a perspective of fundamental customer need, use or aspiration.

How Digital Transformation Improves Perceptions of Oil and Gas Industry

2020 ◽  
Vol 72 (12) ◽  
pp. 33-33
Author(s):  
Chris Carpenter
Keyword(s):  
Digital Technology ◽  
Public Perception ◽  
Business Models ◽  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Production Optimization ◽  
Petroleum Engineering ◽  
Co2 Injection ◽  
The Impact

The final afternoon of the 2020 ATCE saw a wide-ranging virtual special session that covered an important but often overlooked facet of the unfolding digitalization revolution. While the rising wave of digital technology usually has been associated with production optimization and cost savings, panelists emphasized that it can also positively influence the global perception of the industry and enhance the lives of its employees. Chaired by Weatherford’s Dimitrios Pirovolou and moderated by John Clegg, J.M. Clegg Ltd., the session, “The Impact of Digital Technologies on Upstream Operations To Improve Stakeholder Perception, Business Models, and Work-Life Balance,” highlighted expertise taken from professionals across the industry. Panelists included petroleum engineering professor Linda Battalora and graduate research assistant Kirt McKenna, both from the Colorado School of Mines; former SPE President Darcy Spady of Carbon Connect International; and Dirk McDermott of Altira Group, an industry-centered venture-capital company. Battalora described the complex ways in which digital technology and the goal of sustainability might interact, highlighting recent SPE and other industry initiatives such as the GAIA Sustainability Program and reviewing the United Nations Sustainable Development Goals (SDGs). McKenna, representing the perspective of the Millennial generation, described the importance of “agile development,” in which the industry uses new techniques not only to improve production but also to manage its employees in a way that heightens engagement while reducing greenhouse-gas emissions. Addressing the fact that greater commitment will be required to remove the “tougher two-thirds” of the world’s hydrocarbons that remain unexploited, Spady explained that digital sophistication will allow heightened productivity for professionals without a sacrifice in quality of life. Finally, McDermott stressed the importance of acknowledging that the industry often has not rewarded shareholders adequately, but pointed to growing digital components of oil and gas portfolios as an encouraging sign. After the initial presentations, Clegg moderated a discussion of questions sourced from the virtual audience. While the questions spanned a range of concerns, three central themes included the pursuit of sustainability, with an emphasis on carbon capture; the shape that future work environments might take; and how digital technologies power industry innovation and thus affect public perception. In addressing the first of these, Battalora identified major projects involving society-wide stakeholder involvement in pursuit of a regenerative “circular economy” model, such as Scotland’s Zero Waste Plan, while McKenna cited the positives of CO2-injection approaches, which he said would involve “partnering with the world” to achieve both economic and sustainability goals. While recognizing the importance of the UN SDGs in providing a global template for sustainability, McDermott said that the industry must address the fact that many investors fear rigid guidelines, which to them can represent limitations for growth or worse.

Heavy Lifters, India: Towards a Circular Economy Era

2021 ◽  
pp. 097226292110435
Author(s):  
Anupama Prashar
Keyword(s):  
Operations Management ◽  
Circular Economy ◽  
Business Models ◽  
Total Cost Of Ownership ◽  
Total Cost ◽  
Planning And Control ◽  
Cost Of Ownership ◽  
Challenges And Opportunities ◽  
And Control ◽  
The Impact

The case helps students to understand the emerging concept of linear and circular economies. It facilitates to examine the implications of circular business models such as remanufacturing on operations management decisions. It also introduces them to the concept of total cost of ownership and impact of remanufacturing on reducing total cost of ownership. The cases help students to evaluate the challenges and opportunities of remanufacturing business in emerging economy like India. This case is among the first few cases on the application of circular economy principles in context of heavy-duty and off-road sector and the impact of these principles on product design and production planning and control decisions.

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