This encompasses the development, acceptance, and application of innovative digital technologies, strategies, and methodologies that bring about significant changes to established corporate procedures, offerings, services, organisational frameworks, and interactions within a given ecosystem. The process entails the deliberate use of digital tools and methodologies to create novel value propositions, optimise operational efficiency, and generate significant enhancements in customer experiences, market positioning, and competitive advantage. Digital innovation is distinguished by its capacity for disruption, frequently transforming sectors and markets through the questioning of established standards and the promotion of novel business models, sources of revenue, and market dynamics.
Published in Chapter:
Techvolutionaries Navigating the Technological Frontier in Ndola: Zambia's Entrepreneurial Landscape During the Fourth Industrial Revolution (4IR)
Copyright: © 2024
|Pages: 15
DOI: 10.4018/979-8-3693-1326-8.ch001
Abstract
The Fourth Industrial Revolution (4IR) is widely acknowledged to have significant implications for multiple sectors worldwide. This chapter provides insights from a study that aimed to investigate the usage of technology for business purposes and the level of awareness regarding the 4IR among business managers and entrepreneurs in Ndola, Zambia. In this chapter, the authors reveal that entrepreneurs and managers possess a substantial level of knowledge regarding the 4IR and demonstrate a comprehensive understanding of its implications for business. Moreover, they actively incorporate technological advancements into their business operations. The entrepreneurs and managers also possess the requisite resources inside their companies to facilitate the use of technology. The government's efforts in facilitating economic growth through technology adoption for businesses and disseminating information regarding the perceived advantages of the Fourth Industrial Revolution were perceived to be insufficient.