The rapid advances in technology and information offer greater opportunities for today’s firms to create, develop and sustain innovative business models. The ultimate goal is to transform these innovations into greater profitability and market share. First, technology and innovation are no longer the privilege of big firms in specialized sectors. Realizing the increasing importance of innovation, firms in all kinds of industries and sizes, ranging from banking to manufacturing, and start-ups and SMEs, are exploring technology-led growth as a promising means of competitive advantage. Second, good and services are no longer exchanged only between firms and customers. Contemporary technologies enable customers to provide goods and services among themselves, creating what we know as the sharing economy. Third, current information technologies have shifted from a static relationship with the firms to dynamic digital relationships, from information storage to industry disruption.
The innovation challenges faced by today’s firms can be grouped into three main areas: technology innovation and entrepreneurship, sharing economy and industry disruption, and digital strategies in business enterprises. The recent technological developments call for rigorous research to better understand the nature of these challenges and to help design better business models. Research on innovation and technology under the lenses of digitization and entrepreneurship will inevitably grow as part of main stream information systems.
There are three main research focuses in this area:
- Technology Innovation and Entrepreneurship
- Sharing Economy and Industry Disruption
- Digital Strategies in Business Enterprises