What is entrepreneur and entrepreneurship?
Entrepreneurs are the persons who have started their own new business or startup company, managing their own risks and getting the outputs. It means the process of establishing a new business or company by one or more persons. Being an entrepreneur is not an easy job, where most of the people in our society want to remain in their comfort zone. Entrepreneurship demands hardship, strategy, knowledge, thirst for success, passion and patience. Those who have these qualities can become successful in entrepreneurship.
An entrepreneur manages the whole business and it’s risks which is the most important responsibility of the business. For this he needs to do tasks like communicating with clients, doing presentations, making strategies, doing research, managing risks, executing the plans and sometimes even supporting clients after implementation and delivery which is a lot of things to do. So, the help of technology can make these easier for him.
Relationship between ICT and Entrepreneurship:
By the past few years with the process of digitization and development of the ICT sector it has become an important part of everything those are necessary for development. We can not think of a single day without ICT. It has made everything easy and comforting. After introducing ICT to business, it has enhanced opportunities and scopes in business for both individuals and organizations. ICT can help to increase productivity, reduce the wastage of time, make the cost less. It has also brought a big revolution on communication system which is a major part of business. Through the use of ICT people can communicate, do research and execute a sustainable plan to implement in their business which may help them to become a successful entrepreneur. ICT makes the business more profitable, efficient and effective. Once you introduce the technologies in your business, it will become the key of success. With the development of ICT sector around the world, to keep your place on the market technologies don’t have any alternative.
Importance of ICT in Entrepreneurship:
As we said earlier, most of the people don’t want to come out from their comfort zone. Also many people don’t afford to take risks by doing their own startup. But ICT can become a solution for them. ICT can help them to get to know about others’ experiences, their hurdles on success, the risks they faced, their strategies. At the same time ICT can become their solution by minimizing the cost, time or risk and maximizing the productivity. ICT helps to test different strategy making cases so that one can get to know about the risks and their managements even before starting the task. Again ICT can offer different skills, learning opportunities, plannings for business, consultations, database tools etc. ICT helps to create the scope for business not only on the real marketplace but also in online. At present there is a huge demand for e-commerce sites in the outer world. Day by day it is becoming one of the most favourite fields for the entrepreneurs to start for. And it has become possible only for the development of the ICT sector. It has reduced the importance and cost for physical infrastructure in business. Using ICT, some of the tasks for running a business like brand promotion, advertisements etc have become easier. It has also enhanced the advantages to increase revenue.
ICT helps the business and economy to grow by making easy the reach of different technologies such as internet, computer, laptop, mobile phone, broadband etc. We know, communication is the key to success for an entrepreneur. By making the reach of the communication devices and services easier, ICT has also made the success easier. So, it has no doubt that ICT can make you strong.
Disadvantages:
Every page from every book has two sides. Thus, with a great number of advantages and opportunities ICT has some disadvantages also on the field of entrepreneurship. In this era of ICT, people keep all their data and information encapsulated using technologies. But sometimes the security system can become vulnerable and others who have no rights can access them. Thus, one’s planning, data, information can get revealed to his rivals. With the increasing rate of using technology, the reduction of security is also creating problems. Over dependence on technologies can decrease the productivity and efficiency of people. If technologies take over the productivity, then it will become the boss. Here the main purpose of discussing the disadvantages is not to demotivate, rather motivating the safe use of ICT for business and startup.
Conclusion:
At present the world is witnessing the starting of an era where ICT will rule everywhere. Very soon, the world will enter into that information age when everything and everyone will depend on ICT. As discussed before ICT may have some disadvantages but proper and cautious use of it will bring only profit. With the rise of ICT people are having more and more interest in becoming an entrepreneur. So don’t make the ICT your weakness or cause of your inefficiency rather make it your best friend, your strength. Then success is undoubtedly yours. Thus we can say, the impact is higher than expected.