Digital innovation and entrepreneurship: a review of challenges in competitive markets
Abstract This article presents a narrative review of seven selected studies investigating the impact of digital innovation on entrepreneurship and its outcomes within diverse sociopolitical contexts. Results show that improved innovation output scores and the ability to absorb innovative models are...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2023-08-01
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| Series: | Journal of Innovation and Entrepreneurship |
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| Online Access: | https://doi.org/10.1186/s13731-023-00320-0 |
| _version_ | 1827707582807015424 |
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| author | Christoph Kreiterling |
| author_facet | Christoph Kreiterling |
| author_sort | Christoph Kreiterling |
| collection | DOAJ |
| description | Abstract This article presents a narrative review of seven selected studies investigating the impact of digital innovation on entrepreneurship and its outcomes within diverse sociopolitical contexts. Results show that improved innovation output scores and the ability to absorb innovative models are associated with higher GDP growth rates. Technological changes account for 35–40% of the dynamics, while regional factors account for 40%. Internet usage has led to decreased operational costs, increased sales, and better customer interaction for 88% of companies, enabling 83% to expand their markets and 78% to engage more effectively with suppliers. Digitalization fosters entrepreneurship expansion into new markets, creating a positive feedback loop between the two variables. Additionally, the study found that government roles have a more significant influence on entrepreneurship sustainability compared to electronic readiness. Digital technologies have been shown to enhance firm productivity, particularly in manufacturing and intensive industries. |
| first_indexed | 2024-03-10T16:49:39Z |
| format | Article |
| id | doaj.art-41829840c22f4d1fbf0065c59dd3e1d7 |
| institution | Directory Open Access Journal |
| issn | 2192-5372 |
| language | English |
| last_indexed | 2024-03-10T16:49:39Z |
| publishDate | 2023-08-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Journal of Innovation and Entrepreneurship |
| spelling | doaj.art-41829840c22f4d1fbf0065c59dd3e1d72023-11-20T11:20:55ZengSpringerOpenJournal of Innovation and Entrepreneurship2192-53722023-08-0112111310.1186/s13731-023-00320-0Digital innovation and entrepreneurship: a review of challenges in competitive marketsChristoph Kreiterling0BaFin, Federal German Financial Supervisory AuthorityAbstract This article presents a narrative review of seven selected studies investigating the impact of digital innovation on entrepreneurship and its outcomes within diverse sociopolitical contexts. Results show that improved innovation output scores and the ability to absorb innovative models are associated with higher GDP growth rates. Technological changes account for 35–40% of the dynamics, while regional factors account for 40%. Internet usage has led to decreased operational costs, increased sales, and better customer interaction for 88% of companies, enabling 83% to expand their markets and 78% to engage more effectively with suppliers. Digitalization fosters entrepreneurship expansion into new markets, creating a positive feedback loop between the two variables. Additionally, the study found that government roles have a more significant influence on entrepreneurship sustainability compared to electronic readiness. Digital technologies have been shown to enhance firm productivity, particularly in manufacturing and intensive industries.https://doi.org/10.1186/s13731-023-00320-0Digital innovationEntrepreneurshipDigitalizationRegulationInnovation |
| spellingShingle | Christoph Kreiterling Digital innovation and entrepreneurship: a review of challenges in competitive markets Journal of Innovation and Entrepreneurship Digital innovation Entrepreneurship Digitalization Regulation Innovation |
| title | Digital innovation and entrepreneurship: a review of challenges in competitive markets |
| title_full | Digital innovation and entrepreneurship: a review of challenges in competitive markets |
| title_fullStr | Digital innovation and entrepreneurship: a review of challenges in competitive markets |
| title_full_unstemmed | Digital innovation and entrepreneurship: a review of challenges in competitive markets |
| title_short | Digital innovation and entrepreneurship: a review of challenges in competitive markets |
| title_sort | digital innovation and entrepreneurship a review of challenges in competitive markets |
| topic | Digital innovation Entrepreneurship Digitalization Regulation Innovation |
| url | https://doi.org/10.1186/s13731-023-00320-0 |
| work_keys_str_mv | AT christophkreiterling digitalinnovationandentrepreneurshipareviewofchallengesincompetitivemarkets |