Page - 144 - in Digital Entrepreneurship - Impact on Business and Society

fulfil their desires andneeds thenaccording toTimmons (1994)anentrepreneur can be considered a person who has the ability to create and construct a vision from virtually nothing and tomake it work for his own benefit. Although becoming a digital entrepreneur seems to be easier than so-called traditional entrepreneur andmaybeveryattractiveopportunity formany, it requires certain characteristics that all peoplewith entrepreneurialmindsetmaynot possess. Evenwhen each entrepreneur is unique there are several common features that can be highlighted. Among these, Costin (2012, 14) has listed intelligence, indepen- dence, highmotivation, energy, initiative, innovation orientation, creativity, desire for success, originality, optimism, self-confidence, dedication, ambition, persever- ance, activity, good leadership and leadership qualities, and the willingness and courage to take risks. However, entrepreneurs with right entrepreneurial mindset and required leadership skills andcharacteristicshavebetter chance to succeed than thosewithout, whether in digital or non-digital businesses. Moreover, entrepreneurs are increasingly confronted with different precarious situations, while also experiencing a great deal of time stress, fatigue and strong emotions. Even in these intensive circumstances, they are more susceptible to mistakes, both in their decision-making process and in their judgment and rea- soning (Baron 1998). This, in turn, may culminate in ethically questionable or unethical behaviour (Rutherford et al. 2009). According to Shane (2003), such tensionswhenentrepreneursaremore likely toexhibit unethical behaviouraremost likely to arise during the foundation or start-up phase of companies, because starting entrepreneurs do not yet have the necessary social connections and feel pressure to prove and establish themselves as successful entrepreneurs. Payne and Joyner (2006) believe that the propensity to face ethical dilemmas may also stem from the need to balance one’s own values, customer needs, employee expectations, and responsibilities towards stakeholders, including shareholders. Likewise, (especially start-up) entrepreneurs can be self-centred and inclined to self-interest (Baron1998),with adegreeof self-justificationdue to their strong passion and high commitment to their business idea. Being a digital entre- preneur requires strong leadership, focus and discipline, moreover the only way businesses can succeed at digital transformation is to create digital entrepreneurs, people who have the necessary skills andmindset. Furthermore,theconceptsofrightprinciples,values,ethicsandresponsibilityhave becomeevenmore importantwith the fast emergingdigital transformation (seealso Kooskora2013;BBVA2012).Duringthetimeofgreatchangesit isutmostimportant todefinewhat is right andwrong, goodandbad, acceptable andnot acceptable and bothintheoryandinpractice,generallyandinspecificcircumstances.Forthatpeople needclearguidelines,thatcanbehelpfulindealingwithethicalissuessuchasfairness, safety, transparency(Kooskora2012)andtheupholdingoffundamentalrightsrelated to digitalisation.Moreover, especially the digital leaderswho aremakingdecisions having great impact onmany around themhave to consider and stand for the right values that areoftenat riskandknowwhatmustbedone topreserve them.With the helpof digital ethics,wecanensure that humanbeings, not technology, remainour primaryconsiderationduring thisdigital age. The Role of an Entrepreneurial Mindset… 149