In the early 20th Century, Max Weber in his ‘Social Stratification theory‘ advocated on the access to Production rather than Ownership of the Capital. Today, Information and Communication Technologies (ICT) helps to access Production so that an individual can accomplish Interaction and produce Information or create an Innovative Product and promote it to impact millions of households.
One of the key terms: The Digital Divide refers to the disparities among people – such as those living in developed and developing world – concerning access to and the use of ICT particularly computer hardware, software, and the Internet.
Online Marketing also referred to popularly as ‘Digital Marketing‘ is any form of marketing product or service that involves electronic devices. Being a major component of marketing, it utilizes the internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services.
Traditional Marketing is slowly dying. There is no effective way to measure home many people looked at your billboard or how many people looked at your flyer instead of recycling it. Traditional marketing activities come with a large price tag. Billboards, TV ads, and radio commercials are certainly not cheap.
With digital marketing, you are provided with solid, reliable reports that show you the exact results of how many people opened your email or clicked a specific link, for example. Another main benefit is to use an individual’s interests and preferences to tailor the marketing message they receive. Personalization and target segmentation are the biggest assets of online marketing.
Innovation & Creativity:
Innovation – as the name suggests – is “a new idea, creative thoughts, new imaginations in the form of device or method”. Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market.
It is proven that Innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments, and society. An innovation is something original and more effective and, as a consequence, new, that “breaks into” the market or society.
Entrepreneurship is the Creation and Extraction of VALUE. It is the process of designing, launching, and running a new business, which is often initially a small business, or as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit.
In the early-19th-century French economist, Jean-Baptiste Say provided a broad definition of entrepreneurship, saying that it “shifts economic resources out of an area of lower and into an area of higher productivity and greater yield”. Entrepreneurs create something new, something different—they change or transmute values.
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