The Most Promising CEOs of 2019

Sustaining
Entrepreneurial Spirit
in the Modern Era
Businesses operate, survive and progress in a highly
dynamic economy, where change is the rule, not
the exception. The change may be slow, sudden or
almost extensive. One of the important forces of change is
the change in technology. Most of these changes are used to
enhance human capabilities to accomplish meaningful
work. These changes are sometimes thriving on the
entrepreneur. A successful entrepreneur works to visualize
these future changes rather than waiting for it and create a
more desirable environment in the organization.
Technological breakthroughs do occur and it takes courage
for an entrepreneur to accept the change and its
implication. Technology breakthroughs like computers,
color television sets, electronic sets, fuel-efficient vehicles,
etc. have encouraged entrepreneurs to manufacture these
products. Thus changes in technology from time to time
pose several alternatives before the entrepreneur. This is an
ongoing process in which the entrepreneur sets goals and
strategies to meet changes in technology. But for strategies
like marketing, human resource, supply chain, financial
and legal strategies, etc. connection with people is
important. Entrepreneurs define the formal relationships
among people and specify both their roles and
responsibilities. Because the end product is an integrated
system of people & technology and to administer these
systems, entrepreneur is required.
Technology is helping us solve problems where human
power alone is not enough. Different types of businesses
require different technologies, but again, it is impossible to
solve all integration needs with a single technology. This
article will help you understand, that technology is only the
part of the original solution and how in different sectors the
entrepreneur's surrounding really matters.
Ÿ Accounting
Technology allows us to complete tasks faster. It replaces
the tiresome tasks of manually storing, compiling, sorting,
etc. and the ability to use data with a simple digital
solution. For example, Sales ledger in the early days was
time-consuming, expensive and all paper-based process.
Technology helped increase productivity with the
development of spreadsheet software like Microsoft
Excel. Employees today are far better at finding what they
need when they need it. Though only this will not achieve
the outcome. Here, let's take a clear look at how the
entrepreneur's spirit is really helping to achieve the desired
goal.
Technology is good for bringing the change not forcing it.
It cannot make employees more efficient. Yes, the right
technology can help to make the work easier, but if an
employee is truly falling behind or is just inefficient, all the
technology in the world will not solve this situation. The
34 |June 2019
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