Navigating the digital landscape: A conceptual framework for understanding digital entrepreneurship and business transformation

Abstract

Objective: The article aims to identify and characterise the most important aspects of the digital transformation of entrepreneurship and business as an essential trend in the modern economy and contemporary business. Research Design & Methods: The article is a typical narrative and critical literature review that collects, analyses, and critiques the literature on the subject. Findings: The article focuses on three issues. Firstly, the concept and scope of technology entrepreneurship and new technology-based firms are discussed while indicating selected entrepreneurial mechanisms that are specific to this phenomenon. The next part of the article examines the digital competencies that are essential for modern business, especially the digitisation of entrepreneurship and business. Thirdly, the article reveals digital transformation as a change agent in entrepreneurship; as a game-changer, especially in the post-pandemic period. Implications & Recommendations: The study is devoted to digital transformation, which has influenced present-day entrepreneurship and contemporary business in recent years. Undoubtedly, today, digital transformation is the challenge of the third decade of the twenty-first century, especially in the post-pandemic period. Contribution & Value Added: The article’s added value consists in the updated and synthetic presentation of business digitalisation’s most essential aspects and areas. The overview presents the current state of the art on digital transformation and its functions.

Keywords

• digitalisation
• digital transformation
• digital technologies
• digital skills
• digital literacy
• technology-based entrepreneurship