The document is a case study analysis assignment for a Managerial Accounting & Finance course. It includes the student's name, ID number, intake details, course information, assignment title and details, and a contents page outlining the structure of the case study analysis. The student is required to analyze a case study on the topic of digital technology entrepreneurship. They must define key terms, explain the impact of new technologies on entrepreneurship, evaluate alternative forms of digital entrepreneurship, discuss implications for theory and practice, and conclude their analysis. The assignment is worth 20% of the student's grade and must be submitted to their lecturer by the specified due date.
The document is a case study analysis assignment for a Managerial Accounting & Finance course. It includes the student's name, ID number, intake details, course information, assignment title and details, and a contents page outlining the structure of the case study analysis. The student is required to analyze a case study on the topic of digital technology entrepreneurship. They must define key terms, explain the impact of new technologies on entrepreneurship, evaluate alternative forms of digital entrepreneurship, discuss implications for theory and practice, and conclude their analysis. The assignment is worth 20% of the student's grade and must be submitted to their lecturer by the specified due date.
The document is a case study analysis assignment for a Managerial Accounting & Finance course. It includes the student's name, ID number, intake details, course information, assignment title and details, and a contents page outlining the structure of the case study analysis. The student is required to analyze a case study on the topic of digital technology entrepreneurship. They must define key terms, explain the impact of new technologies on entrepreneurship, evaluate alternative forms of digital entrepreneurship, discuss implications for theory and practice, and conclude their analysis. The assignment is worth 20% of the student's grade and must be submitted to their lecturer by the specified due date.
The document is a case study analysis assignment for a Managerial Accounting & Finance course. It includes the student's name, ID number, intake details, course information, assignment title and details, and a contents page outlining the structure of the case study analysis. The student is required to analyze a case study on the topic of digital technology entrepreneurship. They must define key terms, explain the impact of new technologies on entrepreneurship, evaluate alternative forms of digital entrepreneurship, discuss implications for theory and practice, and conclude their analysis. The assignment is worth 20% of the student's grade and must be submitted to their lecturer by the specified due date.
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Kuala Lumpur Metropolitan Business School
Assignment 1 - Case Study Analysis
(Group/Individual) Name MOHD FASARUL BIN MD ISA ID 00000118232 Intake Course (subject) Managerial Accounting & Finance Course Code MBA7113 Assignment title Case Study (Essay) Lecturer Faizal Asfan Bin Mohamad Hand in date TBA Weightage 20 % Phone number
Declaration: I certify the content of the assignment to be my own and original work, that all sources have been accurately reported and acknowledged and that this document has not been previously submitted in its entirety or in part to any educational establishment. Signature: ________________________
(Please tear as proof of submission)
Name and ID: ____________________________________________ Assignment title: __________________________________________ Name and Signature of Lecturer: _____________________________
1 CONTENTS
1.0 SUMMARY OF THE ARTICLE......................................................................................3
The article was writing by Ferran Giones and Alexander Brem (2017) and the title is “Digital technology entrepreneurship: A definition and research agenda.” This article is focusing on the how people use technology to create new businesses and make money in the digital age. The author defines technology, digital technology, and digital entrepreneurship to promote discussion on digitization's impact on entrepreneurship and establish a future research agenda.
Technology entrepreneurship research has reached a consolidation stage, requiring revision and revisitation to address existing achievements and gaps. According to Tony Bailetti, technology entrepreneurship is defined as investing in projects involving specialised persons and diverse teams related to scientific and technological breakthroughs in order to create value for a corporation. Facebook's IPO garnered more than $16 billion, and the mobile and social media revolution altered the definition of technological entrepreneurship.
The study investigates the impact of digitization on technology entrepreneurship from three perspectives: technological opportunity, entrepreneurial process, and resource acquisition, with a focus on the entrepreneur-opportunity nexus. The technique of MacInnis (2011) is used in this study to explain technology entrepreneurship, distinguishing between distinct varieties and identifying consequences for researchers, entrepreneurs, and other stakeholders involved in its promotion.
2.0 EXPLAINATION
“This revolution has not only changed how organizations connect with customers, but it has also transformed the meaning of technology entrepreneurship”
Technology Entrepreneurship is an important area of study in management sciences, bridging the
gap between entrepreneurship theory and management theory. It entails the foundation and evolution of new enterprises, as well as the creation and exploration of new prospects. The advancement of science and technological innovation has a substantial influence on this process, making it critical to comprehend and investigate.
Technology entrepreneurship is a global phenomenon that involves invention, creativity, and
competitiveness. Because the Internet spawned various technologies, it is difficult for inventors
3 to build something that is not already being produced internationally. Technology entrepreneurs confront enormous challenges in shifting from innovation to market development since they must regularly release their goods, making them visible to the international marketplace and other entrepreneurs, in order to rapidly increase their consumers and markets.
Through innovations, Schumpeter highlights the importance of entrepreneurs in rethinking value
generation patterns. Globalization, knowledge, and the growing importance of innovation in national innovation systems have resulted in the formation of new entrepreneurial ecosystems. Dorf and Byers describe technological entrepreneurship as recognizing high-potential capitalization, controlling growth, and taking big risks.
Technological entrepreneurship entails putting together resources, technological systems, and
tactics in order to seek possibilities. It consists of nine major components: new enterprises, communities, universities, businesses, capital, markets, business sectors, government, professionals, advisers, and incubators. The most significant component is the entrepreneur, who possesses technical abilities and competencies. A management attitude, an awareness of company evolution, and strategic thinking are required for successful new businesses. Entrepreneurs are motivated by independence, opportunity exploitation, and value creation.
The information technology business relies on entrepreneurial networks to accelerate the earliest phases of the startup life cycle. Universities are critical in terms of producing a qualified workforce and serving as nodes in networks connecting firms, incubators, research institutes, clusters, and technology parks. Collaboration between these groups promotes innovation, knowledge transfer, and the development of human resources. Technological parks, incubators, accelerators, and hubs foster collaborative settings by facilitating interaction among communities, resources, ideas, and technology.
For founders and investors, technological entrepreneurship offers both great returns and significant dangers. Validating prospects and company concepts is one of the challenges. The purpose is to produce economic value by utilizing or developing new technologies. Acquiring the ability to spot business possibilities is essential for a successful endeavor.
Entrepreneurs need to be proactive, understanding the business environment and entrepreneurial
ecosystem components to develop strategies to minimize risks and maximize competitive
4 advantage. They need to formulate proactive strategies and deployment plans to make startups competitive or increase existing ones. The relationship between entrepreneurs and the entrepreneurial ecosystem is crucial for opportunities identification, knowledge acquisition, and future business value conceptualization.
Schumpeter defines entrepreneurs as people who engage in new activities and initiatives with the goal of creating a new global order while destroying the old one. Entrepreneurship entails identifying, developing, and capitalizing on possibilities to generate value through new products, services, processes, and organizations. Entrepreneurs identify business possibilities and adapt to changes and demands. In the entrepreneurial ecosystem, Davidson proposes three major streams of thought: objective, subjective, and creative. These tactics assist businesses in identifying, capitalizing on, and responding to environmental opportunities.
AI, advanced materials, cloud technology, autonomous vehicles, synthetic biology, virtual reality, robotics, blockchain, 3D printing, and IoT are examples of emerging technologies that can significantly contribute to addressing societal needs and challenges, potentially accelerating the 2030 Agenda's implementation for humanity.
Through digitalization and automation, frontier technologies are driving global structural shifts, with young people becoming early adopters. They are, nevertheless, disproportionately affected by bad effects connected with young people's usage of digital items. Many young people are dubbed "digital natives," while many in underdeveloped nations lack access to and literacy in the digital world. The digital gap disproportionately impacts women and youth in poor nations, with 2 billion people lacking internet access and 9 out of 10 youth residing in Africa, Asia, or the Pacific. This is a crucial gap since individuals without digital access or literacy are unable to participate in digital entrepreneurship. Emerging technologies have the potential to exacerbate the digital divide and inequities, requiring universal and equitable digital access. Governments should prioritize growing connection while addressing possible negative consequences such as disproportionate impact on lower-skilled jobs and dangers to young people's privacy and mental well-being.
5 3.0 NEW FORMS OF TECHNOLOGY ENTREPRENEURSHIP
Entrepreneurship is a dynamic process that entails taking chances, being innovative, growing businesses, hiring the appropriate people, managing money, and taking personal risks. It entails someone who is continuously looking for change, responding to it, and turning it into possibilities. Entrepreneurs are creative individuals who inject fresh combinations of ideas and resources into the economy, dynamically shaking it out of its equilibrium condition. They are either on the lookout for or uncover opportunities, making decisions regarding an unknown future. Entrepreneurs are experienced people who make decisions on their own and manage resources. They also have particular personality attributes, such as being a charismatic leader.
One of new form in technology entrepreneurship is knowledge-based innovation. Knowledge-
based innovation is often the center of attention and receives ample funding in the world of entrepreneurship. It is commonly what people refer to when discussing innovation. However, not all knowledge-based innovations hold significant importance; some are actually quite trivial. Nonetheless, among the innovations that have made history, knowledge-based ones rank highly. It is important to note that the knowledge driving these innovations is not limited to scientific or technical knowledge. Social innovations, which are also rooted in knowledge, can have an equal or even greater impact. What sets knowledge-based innovation apart from all other types is its unique characteristics, including the time it takes to develop, the rate at which it succeeds or fails, its predictability, and the challenges it presents to entrepreneurs. Similar to popular celebrities, knowledge-based innovation can be temperamental, unpredictable, and difficult to manage.
Hence, innovativeness is critical for the success and effectiveness of modern enterprises, allowing them to gain a competitive edge through beneficial consequences such as enhanced quality, cost reduction, customer loyalty, internationalization, and management process modernization. Small and medium-sized firms (SMEs), as defined by staff count, revenue, and asset size, play an important role in creating innovativeness.
When discussing the distinctive characteristics of companies within this particular sector, several authors emphasize their notable potential for innovation. This potential is justified by qualitative features such as a high level of entrepreneurial spirit and adaptability, prompt decision-making, close and direct relationships with the surrounding environment, and a limited formalization of
6 operations. However, various studies suggest that the level of innovativeness in small and medium-sized enterprises (SMEs) is lower compared to larger enterprises. Furthermore, the engagement in innovation and the implementation of innovative solutions tend to decrease as the size of the company decreases. One significant weakness that small businesses face in this regard is a significant lack of resources, both financial and non-financial, in comparison to larger enterprises. This shortage restricts the scope of operations, the level of marketing, research and development, investment activities, and ultimately, the level of innovation.
Technology entrepreneurship seeks to boost the innovativeness of small and medium-sized
businesses by converting research and potential from scientific and research institutes into goods and services. Intellectual entrepreneurship, academic entrepreneurship, technology transfer and commercialization, and knowledge management provide as theoretical basis for this notion.
With produced goods and services, technology entrepreneurship supports SMEs, increasing competitiveness and market expansion. However, a lack of resources stifles creativity. They use financial and non-financial assistance from the corporate environment to engage in knowledge transfer and innovative technologies. This strategy is built on a company's favourable potential.
4.0 EVALUATE THREE (3) ALTERNATIVE FORMS OF TECHNOLOGY AND
DIGITAL ENTREPRENEURSHIP
According to Ferreira and colleagues (2016) and Beckman and colleagues (2012), technology entrepreneurship is a wide concept that blends entrepreneurship and technology-based innovation, coinciding with Bailetti's (2012) approach and trying to capitalise on opportunities in science and engineering.
Technology entrepreneurship study frequently focuses on new entrants in high-tech companies,
but it has also focused on university spin-off commercialization activities. This viewpoint is frequently described as a technology-push situation, in which entrepreneurs find uses and markets for difficult technologies. However, technological digitization has an impact on the total entrepreneurship process and on entrepreneurial processes in general.
Alternative forms of technology and digital entrepreneurship depicts the many forms of technology entrepreneurship, which frequently focuses on the technology-based service rather
7 than the underlying technology underpinning it. It is more similar to recombinant innovation or demand-driven methods to technical innovation, and it is more similar to notions in information systems such as artefacts, platforms, and information infrastructure.
According to the report, understanding how organizations may profit from lean startup practises or activate global niches for their goods might help them be more productive. These businesses may have unique entrepreneurial goals, such as tackling social issues or establishing a reputable institution. The entrepreneur's social identity influences their ambitions and exit strategies. Digital entrepreneurs hope to sell their businesses to larger corporations, transferring their user base and technological advantages.
5.0 IMPLICATIONS FOR DIGITAL TECHNOLOGY ENTREPRENEURSHIP
THEORY AND PRACTICE
Instead of a clear separation between digital and technology entrepreneurship, the digital transformation of input technologies has widened the range of technology entrepreneurs, widening the term of "technology" to include both scientific advances and smartphone applications. Digital technology entrepreneurship combines components of technology and digital entrepreneurship, with a focus on recognising and exploiting opportunities via digital artefacts. Entrepreneurs create businesses based on technologies and services, expanding on Bailetti's (2012) concept.
Digital technology entrepreneurship combines components of technology and digital
entrepreneurship, with a focus on recognising and capitalising on opportunities via digital artefacts. It entails establishing businesses based on technologies and services. The use of digital technologies Engineers, scientists, and entrepreneurs face issues in the dynamics of digital platforms and infrastructures. They strategically blend product expertise with consumer information. Introducing new entrepreneurship words could assist researchers in better understanding entrepreneurs' motives, starting behaviours, and financing preferences. While not directly applicable to entrepreneurs, it may assist them in making a conscious decision regarding their technology entrepreneur type.
The integration of digital technologies in entrepreneurship presents numerous opportunities for
researchers, entrepreneurs, and policymakers.
8 Researches
In traditional technological entrepreneurship, entrepreneurs must decide whether to license or
commercialize their technology. Platforms, network effects, and dominant designs define product boundaries and scalability for digital technology entrepreneurs, who are entrenched in linked networks. This provides chances to update technology entrepreneurship growth trends to incorporate digital technology entrepreneurs. The co-evolution of digital technology entrepreneurship and infrastructure governance, as well as the influence of regulation on entrepreneurial activity, should be studied.
Entrepreneurs
Digital aspects in technology entrepreneurship provide a brighter future for entrepreneurs by
enabling born-global methods and enabling both lean and global firms. Digitization enables rapid product growth and the development of early prototypes for reward crowdfunding campaigns, dissolving conventional barriers. The capacity to build and innovate business models is critical for successfully navigating the numerous potential futures in technological entrepreneurship.
Entrepreneurship in digital technology includes both positive and bad characteristics. Fast growth and forward leaps might put ambitious entrepreneurs in developing ecosystems at greater risk of failure. New entrants into the IoT ecosystem, for example, encounter difficulty owing to a lack of structure and stable standards. Digital artifacts, on the other hand, can speed learning and growth.
6.0 CONCLUSION
Although the digital revolution has had a tremendous impact on entrepreneurship around the world, the discipline of technology entrepreneurship study has struggled to keep up. This article suggests three phenomena, each with its own roots and emergent dynamics: technology entrepreneurship, digital technology entrepreneurship, and digital entrepreneurship. Because these occurrences are distinctive, they provide several research opportunities.
(2151 words)
9 REFERENCES
Schumpeter, J. A. (1976). Capitalism, Socialism and Democracy, New York, Harper and Row Shane, S. & Venkataraman S. (2004), Guest editors introduction to the special issue on technology entrepreneurship, Research policy, 32, 181-4
