International Webinar 2023 - The Role of Digital Based Innovative to Improve Competitiveness – Part 12

Academics from Indonesia explain how to become digital entrepreneurs in an international webinar. The only difference between a standard entrepreneur and a digital entrepreneur is where the business is run. Some businesses operate entirely out of the box, like your local farmers market. Most businesses take a hybrid approach, such as dine-in restaurants that also offer take-out menus online. However, digital entrepreneurs only rely on online trading.


Some examples of digital businesses include publishing ebooks or podcasts, offering online classes, creating downloadable products such as games or software, designing websites, or selling products without a physical storefront.


Having an entrepreneurial mindset can often be the difference between long-term success and struggling to turn your idea into a reality. An entrepreneurial mindset is an attitude that prioritizes long-term planning, enabling you to overcome any obstacles and challenges that come with starting a business. It means having an open mind, using critical thinking, and being tough in times of trouble. It means looking for solutions, not problems.


Digital experience platforms are a new product category capable of bringing together some of the most vital capabilities in the digital world, enabling organizations to build the foundation for their digital transformation. However, for these platforms to truly excel, they must include three main characteristics: Comprehensiveness, or support for the entire customer journey; Structured modifications, or extensive integrative functionality; Built-in integration, or the framework that fosters future innovation.


The impact of technology on our daily lives has grown exponentially over the last decade. Be it laptops or cell phones, technology helps us connect with the world around us and acts as a portal to vast amounts of easily accessible knowledge. However, many new entrepreneurs don't make the most of technology to push themselves to new heights.


A business model is a high-level plan for operating a business profitably in a particular market. The main component of the business model is the value proposition. It is a description of the goods or services that the company offers and why they are desired by the customer or client, ideally stated in a way that differentiates the product or service from that of its competitors.


The new company's business model should also include projected start-up costs and sources of financing, a target customer base for the business, a marketing strategy, an overview of the competition, and projected revenues and expenses. The plan may also define opportunities where the business can partner with other established companies. For example, a business model for an advertising business might identify the benefits of setting up referrals to and from a printing company.


Successful businesses have a business model that allows them to meet client needs at competitive prices and at a sustainable cost. Over time, many businesses revise their business models from time to time to reflect changing business environments and market demands.


When evaluating a company as a possible investment, investors should find out exactly how the company is making money. This means looking through the company's business model. Admittedly, a business model may not tell you everything about a company's prospects. But investors who understand the business model can understand financial data better.


The above material was presented by presenters from Indonesia in an international webinar held by STEKOM University in collaboration with Universities from Pakistan, Malaysia, and various other parties. The name of the presenter is Achmad Zaenuri who is a lecturer at STEKOM University and is the head of the entrepreneurship study program.


This international webinar activity is part of the implementation of STEKOM University's commitment to increase various international activities. This was done in order to realize the vision to become an international-class university. Various international activities carried out by STEKOM University continue from year to year. There are international activities that are sustainable and there are also some international activities that are not sustainable. All types of international activities are accommodated and regulated by the International department of STEKOM University.