Page - 5 - in Digital Entrepreneurship - Impact on Business and Society

mindset and analytic capabilities may be a crucial means of dealing with these challenges as an enabler of data processing. Entrepreneurs wishing to remain competitive in a digitised business environment need to overcome the challenges and grasp the opportunities of the changing digital market. This chapter discusses how companies can adopt a digital entrepreneurial mindset for data-driven, cloud-enabled, platform-centric business activities. 2 Conceptualising aDigital EntrepreneurialMindset There aremanydefinitions of ‘entrepreneur’.Manyof these explain the term in the contextof an individualwhodisplays entrepreneurial behaviour.Anentrepreneur is usually seenas someonewhoengages in theprocessofdiscovering, evaluatingand exploiting opportunities that lead to value creation (Shane and Venkataraman 2000). 2.1 WhatDoes ItMean to Be Entrepreneurial? Theconcept of beingentrepreneurial evolved simultaneouslywith thedevelopment of the concepts of beinganentrepreneur.However, thequestion remains as towhat it means to be entrepreneurial. Entrepreneurship literature emphasises proactive- ness, innovativeness and risk-takingas three standarddimensionsofentrepreneurial behaviour. As entrepreneurship is the discovery, evaluation and exploitation of opportunities, individuals vary in the extent towhich theyexhibit thesebehaviours. Being entrepreneurial is relevant to more than just start-ups; it is crucial for all organisations andbusinesses looking toprogress, regardlessof their existing sizeor intended development. Even though there aremany types (and sizes) of entrepre- neurial opportunities, this chapter argues that being entrepreneurial requires the creation of value and involves embracing the uncertainty that lies at the heart of discovery, evaluation and exploitation of opportunities (Soltanifar 2016). Being entrepreneurial is the defining characteristic of an entrepreneur whose dreams are greater than their resources (Pinchot 1985). Undoubtedly digitised environments opennewpossibilities and access to borderless resources.Consequently, following such a path requires amindset shift and the creation of a digital strategy. 2.2 How Is an EntrepreneurialMindsetDefined? Before presenting a definition of the digital entrepreneurialmindset, it is important to focusfirst on defining the entrepreneurialmindset itself.We start by examining the definition of amindset of an individual and then explain entrepreneurial digital mindsets. Developing aDigital EntrepreneurialMindset for Data-Driven… 5