Digitalization, Digital Disruption & Digital Transformation:

Digitalization:

• is the process that optimizes value creation processes through the Internet and computers

Digital Transformation:

• describes the change brought about by using the emerging new technologies thus transforming the functionality and interactions of people, society, and organizations, thereby creating lasting, massive effects on the economic system, economic drivers, and even creative disruption & destruction.

The concept of disruption goes hand in hand with progressive digitization concurrently & simultaneously as disruptive digital business models threaten established companies in their core areas.

The implementation of the following principles increases the prospects of success for disruptive companies/economies. They are:

• low margin,
• asset-light,
• scalable,
• innovative, and
• compliance easy

In practice, these principles mean that the platform companies only need small margins, multiply and maximize profits through economies of scale along with an advantage of having a low fixed cost structure.

The above mentioned features are necessary (and must) to ensure flexibility and to improve through technical progress. This digital progress is the critical source of innovation for changing industries and markets to adapt to digital disruption & digital transformation.

Entre & IntraPreneurship:

Entrepreneurship:

Entrepreneurship generally falls into three broad categories:

• professional,
• behavioral, or
• start-up

While:

• the foundation-related framework is limited to the foundation of a new/evolving business,
• the professional type equates ‘entrepreneurship’ with the management of a company and an organization.

A business entrepreneur is the professional title of the entrepreneur who runs an organization as an independent entrepreneur.

An entrepreneur acts in the business markets intending to maximize profits at own risk/expense.

In the recent past, the entrepreneur has been increasingly in the focus of science and business. Research has set new priorities. Personality, general conditions, and characteristics associated with a successful entrepreneur have moved into focus now, with emerging technological advances. Two aspects have become highly relevant for an entrepreneur:

1. Will to succeed: A greater need for success drives entrepreneurs compared to the rest of the general population from within the crowd. Entrepreneurs are motivated to perform to be successful.
2. Risk appetite: Entrepreneurs show moderate risk appetite. Yet, they take calculated risks that give them a specific/certain chance of success.

Further aspects where the entrepreneur differs from regularly employed persons are the expectation of self-efficacy, the striving for independence, problem orientation, social adaptability, emotional and psychological stability, tolerance of uncertainty, dominance, and creativity.

Corporate Entrepreneurship is realized through various mechanisms which likely includes:

• the reorientation of proprietary capabilities and strategies,
• creating new internal ventures, and
• innovation within the organization.

The end goal can be the development of new markets and also retain the focus on existing markets.

Intrapreneurship:

Intrapreneurs are derived/considered as ‘entrepreneurs’ who drive innovation and business models.

Intrapreneurship describes the ability of a company to generate innovations, take risks, and assess them correctly, in order to meet the organization goals.

An intrapreneur is a person who takes responsibility for implementing new innovative ideas and their associated profitable realization.

Recent innovations and hence research projects intrapreneurship as a multidimensional, action-oriented concept with certain characteristic dimensions, which operates at the organizational frontier and breaks new ground in the areas of services, standards, technologies, orientations, and structures. These dimensions are as follows:

• Creation of new businesses
• Business Areas: are the essential features and components of intrapreneurship.
• Product and Service Innovation: refers to the development in the technological field of a company.
• new products and services: to be on par with the technological innovations on a timely basis.
• Self-renewal: refers to the transformation of the organization within its core ideas.
• Risk Appetite: Loss is an inherent risk feature and is a component of innovation, business creation, and proactive action.
• Proactivity: characterizes a pioneering role and initiative.
• Competitive Dominance: It characterizes that the organization measures itself against its competitors in the benchmark and thus dominates them.

Intrapreneurship is an essential factor for organizational growth due to the dimensions as mentioned above as it ensures that a company regularly adapts to new market conditions and thus stands out from the crowd/competition. Intrapreneurship majorly impacts an organization’s accountability, profitability and ability to survive.

Technological Advancements & Innovations are at flux and hence its implementation at various organizations are also in flux and hence at crisis. Traditional Organizations have become immune to continuous changes and are believed to be only implementing these genuine innovations and further developments with great efforts.

While traditional companies want to maintain the status quo with the global economy changes due to new, disruptive business models, the platform economy is still considered to be the central business model of the digital economy. The Platform Economy model makes use of digital progress to network people, resources, and organizations, thus generating value addition to all those entities involved.

In the Platform Model, the best possible control of interactions between external suppliers and demanders are the success factors rather than Ownership and efficient management of many production factors from the traditional business models. Evolving Platforms quickly determine their markets in which they appear and tend (to manage) to shift the creation of value completely.

The future is all about the Platform:

How can traditionally conservative companies transition from their existing pipeline models to the platform economy?

One of the possible answers to this is the intrapreneur’s type of employee which reflects the entrepreneurial idea of innovation, the mindset, and the desire to change within an organization. The intrapreneur enacts an entrepreneur within his company and is proactively looking for an opportunity to open up new business areas and release future potential.

Conclusion:

Intrapreneurship is an essential factor for organizational growth as it ensures that a company regularly adapts to new market conditions and thus stands out from the competition. Intrapreneurship significantly impacts an organization’s profitability and ability to survive.

As a part of digital transformation and being technology innovators making use of learning experience platforms at mPowerO, we are well versed on understanding traditional business models across industries and that can be reshaped into platform business models to facilitate accelerated growth, in order to adapt with digital innovation.

Our aim is to facilitate in co-developing the business platform concept together with our clients while we help structure the technology framework that will enable the digital platform to go live in the shortest possible time, hence providing an end-to-end solution that encompasses business and technology, making mPowerO a pioneer and a one-stop shop for our clients’ platform transformation journey.

The digital revolution has brought new network-based value chains and “coopetitive” business models. Traditional, linear value chains with their competitive business models – otherwise known as product-based business models – are striving to/have been replaced by platform-based business models as platform-based businesses are winning & hence thriving with more enhanced visibility and profits.

As the transformation to digitalization continues to evolve, now are exciting times for businesses who want the opportunity to get us there collectively through the implementation of SDGs and allowing us to guide platform privacy, security, and ethical standards.

The platform revolution has opened up myriad new opportunities/challenges in meeting global sustainability goals.

An LXP such as mPowerO, can help you in an end-to-end training development solution, from identifying the right skills to building them while providing an impactful learning experience, across various verticals & industry sectors, for organizations, in order to achieve sustainable growth.

For instance, as the distributed workforce do not have time to learn, they need an OJT platform that is mobile-friendly as they are always on-the-go, to remain on par with the competition and technological evolution.

Upskilling Frontline workforce with Learning Experiential Platforms (LXP) driven by the latest advanced technologies is crucial to get the most out of this valuable resource. By creating a culture of continuous, interactive learning/training through on-the-job training for the frontline staff via m-Learning with LXP tool from mPowerO, a frontline workforce enablement solution, can help train the frontline and take them to the desired next level, to achieve desired goals.

mPowerO platform can assist in managing the complete lifecycle of a frontline, from onboarding to moving them up the career ladder by empowering them with the right skills and knowledge, with an improved performance.

OJT with the right mix of the latest technology via an automated skilling platform creates uninterrupted learning/training and seamlessness in a hybrid work model/environment, thus promoting impactful learning experiences.

An LXP can be a definitive helping hand in providing impactful personalized learning/training experiences in order for the employees to be successful and also the organization.

An LXP powered by the latest AI could further keep up the Frontline workforce up-to-date through micro-learning content merged with AI content recommendations along with an advanced data analytics platform to showcase the outcomes for better learning/training outcomes and learning/training experiences.

For upskilling Your Frontline workforce, mPowerO provides continuous support and is an end-to-end offering to Online Learning Platforms/Solutions, Digital Publishing Solutions, Upskilling/ReSkilling and Skilling training opportunities for medium to large companies.

mPowerO has evolved from being an Online Learning Solution (LMS) to serving as LXP in order to accommodate larger targeted audiences for educational/publishing and skilling requirements of various medium to large organizations/enterprises.

Talk to our expert team members for a deeper understanding and more related information.

Reach out via email at info@mpowero.com or visit us at https://www.mpowero.com/ for more information.

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