Strategic appraisal of Interdependence of Digitalized Technologies in emerging Entreprenurial models
Abstract
The purpose of this paper is to investigate some consequences of the assumption that digitalization can be of benefit to small and medium sized enterprises (SMEs). In the digital economy SMEs are key players. For example there are 33 million small businesses in the U.S and 31 million SMEs in the EU. SMEs are important as the primary source of new job generation and disseminating new business practices, and they provide a substantial contribution to GDP. If the e-Economy is to make real progress, there must be active and substantial SME participation. This basic reality applies to SMEs across the world. The potential offered by e-business to SMEs is considerable through enhancement of productivity, reduced transaction costs, increased management efficiency, potential new markets and better penetration of the existing customer base. Majority of these entrepreneurial firms base their sustainable competitive advantage on optimizing core competencies through the introduction and wider application of digitalized technologies. From the entrepreneurial, and especially from the strategic point of view, the processes of creating new and reengineering existing entrepreneurial firm models should involve digitalization. In this paper, authors research and discuss three major different and competitive models focused primarily on achieving strategic goals and reengineering the current "classical entrepreneurial firm structure" into a "virtual entrepreneurial firm structure". Authors consider the improvement of sustainable competitive advantage through improvement of overall entrepreneurial firm performance by designing and implementing different complementary and profitable digitalized technologies. Finally, conclusions are drawn and recommendations are made from the researched digitalization models and findings.
Keywords: Digital economy, Digital entrepreneurship, Digital reengineering, Entrepreneurial firm models, SMEs, Digitalized technologies, Sustainable competitive advantage, Strategy
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Copyright (c) 2024 Maja Andjelkovic, Dejan Ilić, Milan Vemic
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