The Digital Turn of Businesses in the New Essay by Vincenzo Morabito
Vincenzo Morabito Essay
MILAN, Italy, July 22, 2021 (GLOBE NEWSWIRE) — Digital innovation has long been high on the political agenda and a subject of debate for many key sectors of the economy. But what could be the best approach? Professor Vincenzo Morabito answers this question in his new essay entitled “Digital Entrepreneurship, Management, Systems and Practice” (published by Cambridge University Press), coming out soon. “The idea” behind this book, explains Morabito to LaPresse, “is very simple: entrepreneurship is becoming more and more digital, and digitalisation is changing the way we do business. It is time to explain which trends should be followed and guide the new businesses.” This essay “responds to a need felt by both the younger generation and by those who want to change their life path thanks to digitalisation; it is a sort of guide and direction.”
While policy and decision-makers ask themselves how to include mobile devices, digital platforms, cloud, big data, cybersecurity and blockchain in their strategies, what is often missing is a broader awareness of the current mega-transition.
In the digital age, points out Morabito, professor at Bocconi University, entrepreneurship is now more demanded than ever. Nevertheless, it is not enough to hold online meetings, have paperless offices or be active on social media in order to be considered a digital entrepreneur. Instead, a systemic approach is needed.
The pandemic has accelerated the digitalisation process: “It was inevitable. But, of course, the pandemic has given an exponential acceleration. So today, more than ever, digitalisation is an unavoidable way of reinterpreting business models. It helps rethink business models: the traditional ones are still there, but they can be made more relevant.”
To do this, explains Morabito to LaPresse, “There are two ways: either we create completely digital businesses, with new jobs emerging thanks to digitalisation, or we reinterpret the existing models. Our country cannot be left out. It should stimulate the creation of global digital businesses: we need to encourage the creation of global businesses that will lead Italy worldwide, even in traditional sectors that are pillars of our country, such as fashion or tourism. This is the only way to make the Covid crisis an opportunity for rebirth.”
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