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digital business

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1 results

1 - Digital Entrepreneurship and Digital Business
from Part I - Strategy and Management
Vincenzo Morabito, Università Commerciale Luigi Bocconi, Milan
Book:

Digital Entrepreneurship

Published online:

16 December 2021

Print publication:

06 January 2022, pp 5-27
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Summary

The role of this chapter is to introduce the reader to the digital entrepreneurial world where businesses exploit modern technologies in order to gain a strategic advantage over their competitors when entering the market. By distinguishing among the different types of online business – SMEs, start-ups or spin-offs – this chapter introduces the concept of open innovation that lies at the heart of every digital entrepreneur. Furthermore, this chapter delineates the series of steps that an entrepreneur should understand and follow to successfully establish an online business and outlines the risks and challenges to be aware of along the entrepreneurial journey. The last section of this chapter features two digital start-up success stories that leveraged the dynamics of digital technologies and achieved great growth rates as well as high revenues.