Influence of Technological Revolution in the Sphere of Digital Technologies on the Modern Entrepreneurship

Abstract

Purpose: The purpose of the article is to determine the influence of technological revolution on modern entrepreneurship, which implements various strategies of using digital technologies and to determine the most preferable strategies. Design/methodology/approach: Based on statistical information on usage of digital technologies in entrepreneurship, which was provided in open access by the National Research University “Higher School of Economics”, the structure of entrepreneurship within the offered authors’ classification according to the criterion of implemented strategies of using digital technologies in Finland, France, the Czech Republic, Sweden, the UK, and Russia in 2018 is offered. The authors also determine the consequences (with the help of analysis of variation) of selecting the strategy of using digital technologies for development of entrepreneurship, connected to efficiency, export activities, and provision of competitiveness. Findings: The authors determine that activity and directions of usage of digital technologies in entrepreneurship in the conditions of technological revolution depend on a range of external (demand, infrastructure, state regulation, and competition) and internal (inclination for innovations) factors. In modern economic systems in entrepreneurship, four main strategies of usage of digital technologies are implemented: strategy of ignoring (refusal from using digital technologies), strategy of formal participation in technological revolution (usage of the Internet for certain business operations), strategy of expanded participation in technological revolution (usage of the Internet for purchases and sales), and strategy of leading technological revolution (usage of the Internet and the leading digital technologies). Originality/value: It is proved that the most preferable strategies are strategies of leading technological revolution and expanded participation in technological revolution, as they allow increasing export and increasing competitiveness and efficiency of entrepreneurship. Contrary to this, separation from technological revolution (implementing the strategy of ignoring or strategy of formal usage of the Internet) leads to reduction of competitiveness and efficiency and to reduction of export. It is concluded that technological revolution in the sphere of digital technologies creates new opportunities for development of entrepreneurship, which have to be used.