Entrepreneurship in the Digital Age
Entrepreneurship is not for the weak hearted. Entrepreneurship has always been a high-risk high rewards endeavour. In the VUCA world the game has gone up a few notches. What has made it even more exciting as well as challenging is the digital age. Businesses used to be very local. The radius of influence limited. Hence the risk and rewards too were in the known. However, in the digital word opportunities as well as risks and challenges have no boundaries. We can easily identify a market gap and launch a product that could be needed and delivered globally. We can identify a need miles away, research on the requirements, source partners or customers, study the process and begin delivering way faster than before.
We realised this in the covid and post covid era. The business which were digitally disconnected perished. Those that were digital endured, survived and even flourished. There were some who turned the darkest period for business into an opportunity. Those businesses that were in the digital world thrived and made a bounty. Some used the digital world to pivot and take advantage of the situation. Overnight they went from being ‘offline’ to ‘online’. These changes could have been temporary or even permanent. Many of them were forced to and realised the value of going digital. It opened up markets and opportunities. There have been so many stories of businesses in the digital world that did fabulously well. Further, there were those that were more traditional went hybrid – into the offline and online mode or even only online mode to cut down on the overhead costs during the challenging phases or even permanently. So many large corporations too realise that they could have teams operating digitally anywhere across the world as well as serve customers. The traditional thought processes that travel and physical meet up was drastically reduced to the bare minimum.
However, with advantages there were disadvantages too. Disruptions became easier and faster. Barriers of entry lowered. Cost of conquering a new market lowered. One could use the existing networks and platforms to quickly adapt to a new product, market and opportunity. We could not be complacent at any stage. We realised that our customer could easily be serviced by a competitor who was sitting miles away if we were not too proactive.
Hence entrepreneurship in digital age requires the following attributes:
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- Evaluate all aspects of your business that could take any advantage of the digital innovations – supply side, market, production, data management etc
- Continuously research and stay updated on the latest developments to stay ahead of the curve
- Never settle and be close to your customer – go that extra mile
- Upgrade your organisation to the core to be a digitally savvy one
Entrepreneurship in digital age needs to be on your toes, flexible, updated, proactive and never rested. Cause in every moment there is an opportunity, but in the same way there could be disruption.
Introducing MARC
In the intricate environment of human resource management, Marc Glocal appears as a reliable partner, offering tailored solutions for Employee Performance Management Systems.
About MARC
Marc Glocal is a renowned business consultancy firm that specialises in human resource management and organisational development. Marc Glocal’s team of experienced specialists enables businesses to maximise their staff’s potential and achieve long-term success.
Why Choose Marc Glocal?
Tailored Solutions: Marc Glocal knows that every organisation is unique. Its EPMS solutions are built to match the unique demands and goals of each organisation.
Expert Guidance: The consultancy business has a team of HR professionals with considerable expertise in creating and implementing successful Employee Performance Management Systems.
Holistic Approach: Marc Glocal offers a comprehensive strategy, ensuring that EPMS is smoothly integrated into the overall organisational architecture to maximise effect.
Continuous Support: Beyond deployment, Marc Glocal provides ongoing assistance, including coaching, training, and modifications, to ensure the EPMS’s continued effectiveness.
Conclusion
The Employee Performance Management System orchestrates an organisation’s performance by bringing together varying traits. Marc Glocal, with its dedication to quality and customised solutions, emerges as the driving force, propelling organisations to a peak of maximum performance, development, and success.
By Ashutosh Kharangate
Managing Director
