Page - 278 - in Digital Entrepreneurship - Impact on Business and Society

corporate digital entrepreneurship can thrive therefore becomes a double-edged sword.Ononehand,digital entrepreneursmayhaveeasyaccess to familywealth to pursue their entrepreneurial endeavors, but on the other hand they may be faced with family seniors that are reluctant to fund such unknown and uncertain entre- preneurial paths. The fourthaspectof theVIS taxonomyincludes the formationofknowledgeand skillwithin an institutional context and how labor is organized. Labor relations are essential to optimizing human capital and predict whether or not employees in organizations will have the necessary knowledge and skills to engage in strategic activities.More fragmented labormarkets result in higher employee turnover rate and flexibility, thus making labor less efficient and effective and shifting the organizing principle to political and/or family connection-based foundations (Aguilera and Jackson 2014). Furthermore, technical knowledge is considered as human capital resource. Particularly in the developing context, acquiring knowl- edge on digital selling tools and technologies is necessary in developing an online presence and effective communication withWeb site developers, industry profes- sionals, and tech-supportproviders.The levelof technical knowledgeand resources acquired can be contingent on the availability of a qualifiedworkforce capable of providing digital businesseswith the required human capital support. Furthermore, the level of knowledge capital within a nation determines how productively orga- nizations engage with employees. For instance, the availability of knowledge capital in companies allows organizations to invest infirm-specific skills (Jackson and Deeg 2008), while scarcity in knowledge capital may reduce incentives to invest in specific sectors or competencies. In this context, the scarcity of certified and highly skilled ICT specialistsmight be attributed to the high cost of recruiting and retaining them. Subsequently, the availability of employees with adequate experience and exposure to ICT skills required to successfully undertake e-commerce projects indicates the formation of entrepreneurial prospects. This means that entrepreneurs indevelopingcountriesmight have to incur the additional cost of recruiting expert-level employees. The low level of ICT awareness among staffmembers refers to the low level of awareness of e-commerce potential, which could be due to the lack of long-term strategic planning. Moreover, small busi- nesses may not benefit from ICTs due to their lack of knowledge, skills, and resourcesnecessary to excel in theworldof digital entrepreneurship.The adequacy of ICT skills such as the number of local content creators and communication and software engineers is an important factor in the level of adoption of technology in entrepreneurship. Furthermore, the adequacy of technical support also plays a role in determining the level of technological incorporation. From a cultural perspective, in developing countries, societal perspectives on gender play an important role in the credibility and validation of women’s resources, which create disadvantages to their entrepreneurial success. Even in the digital workspace and in terms of professional qualification, women face sexism andhostility.There isadisadvantagedstereotypeabout femininityandbeliefsabout technological competence (Kelan 2009). Other views on race and social class demonstratehowinadvancedWesterncountries,whiteelite anduppermiddle-class Challenges andOpportunities for Digital Entrepreneurship… 287