DIGITALIZATION AND ENTREPRENEURSHIP – IMPACT ON THE ECONOMY AND SOCIETY
DOI:
https://doi.org/10.35120/sciencej0503343jKeywords:
digitalization, entrepreneurship, sustainable growth and development, economy, societyAbstract
In a world emerging from the devastating COVID-19 pandemic, where everything has become increasingly volatile and change appears to be the only constant—occurring, it seems, more rapidly and intensely than ever before—the development and implementation of new technologies and digital transformation have become key drivers of economic growth and the development of society as a whole. Within this process of digital transformation, entrepreneurship represents a driving force of economic growth and societal development, acting as a catalyst for innovation, job creation, and social transformation. As the lifeblood of market dynamics, entrepreneurs inject vitality into the economy by introducing groundbreaking products and services, stimulating competition, and increasing efficiency. Their ventures contribute to gross domestic product, expand employment opportunities, and foster resilience during periods of economic crisis. We are witnessing how the process of digitalization affects the effectiveness and efficiency of companies’ operations, leading to the development of new products and services in the market, the transformation of business models and other elements of business operations, as well as improvements in work processes and production systems. Taken together, these developments shape the overall market performance and competitiveness of enterprises. However, it must be borne in mind that the mere implementation of new technologies and the digitalization of business operations, without an adequate understanding of these technologies and proper employee training in their application, as well as without socially responsible conduct on the part of enterprises themselves, cannot lead to sustainable business practices or contribute to the overall progress of the economy and society. By properly recognizing the significance and challenges of digitalization, considering both its positive and negative aspects, learning from past experience, and maintaining a strong commitment to the continuous improvement of employees’ knowledge, skills, and competencies—without which no meaningful change would be possible—entrepreneurship and digitalization can make a significant contribution to improving the quality of life, while simultaneously fostering the advancement and development of the economy and society as a whole.
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