Entrepreneurial Projects in the Digital World: Evaluation of Successful and Unsuccessful Projects

Abstract

Technology has made everything just one click away for consumers. If we look at the past 30 years, many people have benefited from the digitization of various industries, using technology to their advantage. However, this progress has also come at the expense of several projects and industries that lacked the strategic agility to keep up with digital innovation, leading to their downfall. This study aims to provide current and aspiring entrepreneurs with data to help them decide whether to venture into digital entrepreneurship. Through a literature review methodology, we examine numerous projects that have thrived due to technological advancements and have found innovative ways to dominate local and global markets. Additionally, we explore how digital shopping and e-commerce have become the norm. We will also analyze cases that failed to keep up with technological advancements, leading to their decline and eventual disappearance. The study found that digital entrepreneurship is a very lucrative market, if entrepreneurs perform due diligence and stay ahead of upcoming trends. The findings suggest that digital entrepreneurship is not just here to stay but is set to take over, given its convenience. However, this shift comes at the expense of some sociocultural benefits associated with traditional business practices.