Page - 8 - in Digital Entrepreneurship - Impact on Business and Society

3. Augmented reality used to broaden entrepreneurs’ horizons 4. Cloud services 5. Borderless connections in exploiting emerging opportunities 6. The sale of digital products or services across electronic networks Fundamentally, many digital technologies provide possibilities for efficiency gains and customer intimacy. However, if people lack the right mindset to imple- ment change and the current organisational practices are flawed, digital transfor- mationwill simplymagnify the existing flaws. The following questions are applicable to entrepreneurs involved in anykind of data-driven, cloud-enabled, platform-centric business: 1. How does the transformation affect the structure and borders of the sector? 2. How are the value chain and its associated competitive activities influenced? 3. What new strategic decisions do companies have tomake to secure a compet- itive advantage? 4. Whatorganisational effectsdoes thenewproduct typehaveandwhat challenges are associatedwith the product? Rödl& Partner (n.d.) To illustrate theapplicationof suchquestions ina real-lifebusiness scenario, it is useful to consider Airbnb again. Airbnb recognised the right time to expand into other markets outside the USA. Accordingly, it acquired a German competitor, Acceleo, to successfully exploit anopportunity inEurope,which resulted inAirbnb opening its first European office inHamburg in 2011. Fig. 1 Number of guests stayingwith anAirbnbHost during the summer. Source Myler (2017) 8 M. Soltanifar and E. Smailhodžić