Page - 143 - in Digital Entrepreneurship - Impact on Business and Society

4 EntrepreneurialMindset for Digital Transformation To better cope with the new challenges related to various changes in the envi- ronment there is also a need for a new type ofmindset, theway how andwhywe thinkabout thingswedoandhowwe interpret theworld, andnewset of skills.The uncertainty around us creates high level of risks, but also great opportunities. Innovation starts with the rightmindset (Meyers 2016) and according toMcGrath andMacMillan (2000), uncertainty can be used for one’s benefit when a person employs and develops an entrepreneurial mindset. Furthermore, Morris and Kur- atko (2002)emphasise theneed for entrepreneurialmindset especially in thecurrent business environment and believe that for sustaining the competitiveness people must unlearn traditional management principles, be creative and innovative and have the ability to rapidly sense, act andmobilise. Thus, the entrepreneurialmindset can be understood as a person’s specific state ofmindwhichorientates towardsentrepreneurial activities andoutcomes (Financial Times 2019), often in the pursuit of opportunitywith scarce, uncontrolled resour- ces. For Senges (2007) people with an entrepreneurial mindset are those who passionately seek newopportunities and facilitate actions aimed at exploiting these opportunities and according to Koe et al. (2012, 198) entrepreneurial people recognise opportunities, take risks, seize opportunities, and ultimately feel satis- faction. In doing so, these opportunities exist for business ideas and individuals who are able to identify them and exploit the ideas through the creation of new businesses topursue their goals (Bygrave1997),Kuratko andHodgetts (2004) also interpret this as a dynamic process of vision, change and creation. Digital transformation is one of the major changes in current business envi- ronment that gives peoplewith entrepreneurialmindset the opportunity to enter the marketplace and provide innovative, often web- or data-based solutions, new products and services. Themovement being stimulatedby the fast paceof progress in the fields ofmobile technology, big data, predictive analytics, cloud infrastruc- ture, self-learning algorithms, personalisation and the growing dominance of information and communication technologies (Digital Transformation Initiative 2015)enablesalsonew,butdigitallymindedentrepreneurialplayers tostartup their companies and achieve great success, often relatively fast. However, not all the people with entrepreneurial mindset become successful entrepreneurs, but only those who are really able to launch, manage, grow and promote new business (Humbert and Drew 2010). According toMaltsev (2016), entrepreneurs create and develop their own business using their own expertise and abilities and their own or externally borrowed resources. In doing so, the entre- preneur has to fulfil a wide variety of roles and activities in the creative and development process—from establishing a business development concept to run- ning business processes (such as product manufacturing or customer service). While Coulter (2001) views entrepreneurship as a process in which a person or a group of people uses common efforts and measures to grow and pursues oppor- tunities and goals, to create value through innovation and originality and thereby 148 M. Kooskora