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The Digital Entrepreneurs: Complexity In The 21st Century

907 Words4 Pages

The digital age is altering business paradigms (Mckinsey, 2015). The VUCA-volatility, uncertainty, complexity and ambiguity (Stiehm & Townsend, 2002) world has impacted organisations at large. Digitization and disruption are inevitable and integral to the evolving corporate landscape. The digital onslaught has brought about mammoth disruptions to business models, nature of work (Bersin, 2016; Schwab, 2016) as well as workforce across organizations and industries which is poised to have a significant impact on the employment landscape in the coming years. Mintzberg (2009) has pointed to the need to rethink organisations for our times, more as communities of human beings than as individual human resources. Not only is knowledge at the core, but …show more content…

Termed as ‘The New Digital Age’, Schmidt & Cohen (2013) portray how the internet is set to transform individuals, organisations and the society at large. Not only is technology playing an increasing part in the way that we live our lives, the latest generation to have entered the workforce (often labelled Generation Y,the Millennials, or the Digital Natives) are living their lives in a very different way from before, and displaying a different attitude to leadership. Significantly, the digital workplace today is networked and networks enhance new possibilities for widely distributed leadership across the organization, enhancing responsiveness and …show more content…

Traditionally, Digital refers to something using digits, particularly binary digits (Wikipedia) which originated with Leibniz’s work on the binary number system in 1703 and extended by Boole (1854), Shannon (1938) and Stibitz (1940). Though the term digitalization is not yet commonly found in English dictionaries and is in use mainly in Europe (Khan, 2016). The Marriam Webster dictionary simply puts digital as showing the time with numbers instead of with hour and minute hands, of or relating to information that is stored in the form of the numbers 0 and 1, using or characterized by computer technology. The Oxford dictionary indicates involving or relating to the use of computer technology: the digital revolution. Wikipedia extends this by defining digital transformation as the changes associated with the application of digital technology in all aspects of human society. In contrast, Mckinsey(2015) believes that digital should be seen less as a thing and more a way of doing things, essentially around creating value at the new frontiers of the business world, generating value in the processes that execute a vision of customer experiences and building foundational capabilities that support the entire structure. Although there are

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