What Role Does Innovation Play in Entrepreneurship Amidst Technological Change?
Innovation is the cornerstone of successful entrepreneurship, especially in an environment characterized by rapid technological change. Entrepreneurs must be willing to experiment with new technologies and innovate continuously. This involves not just adopting new tools, but also rethinking existing processes and business models. For instance, the advent of Internet of Things (IoT) has enabled businesses to collect real-time data and make data-driven decisions, significantly enhancing operational efficiency.