Gord Gillies, left, Robert Fooks of McLeod Regulation and MRU’s Simon Raby talk about digital transformation.
Nov. 22, 2022
Mount Royal College’s Development Compass, with help from McLeod Regulation LLP, has revealed findings throughout Innovation Week from a survey with Alberta entrepreneurs.
‘Thriving within the Age of Digital Transformation’ explores the position of digital expertise adoption within the progress and improvement of entrepreneurial ventures. The examine assesses the adoption price of digital applied sciences utilizing an additive measure. The extra digital applied sciences adopted by a given entrepreneurial enterprise, the extra ‘digitally mature’ they’re thought of to be. The report examines the affect of digitalization on progress and innovation, digitalization tradition, the tempo of digitalization, the consequences of COVID-19, and digitalization boundaries and alternatives.
“Adopting digital applied sciences enhances the competitiveness, productiveness and efficiency of entrepreneurial ventures. Digital transformation helps ventures attain scale, attaining quicker, extra sustainable progress, and improved profitability via elevated repeatability and reliability. Digital applied sciences additionally assist entrepreneurial ventures acquire entry to the expertise, markets and capital required to compete with their bigger counterparts”, stated Simon Raby, Ph.D, Affiliate Professor in Entrepreneurship and Principal Investigator for the examine.
Robert Fooks, Companion at McLeod Regulation stated “These findings emerge from a bigger examine we have now performed on the strategic actions Alberta entrepreneurs are prioritizing to innovate and develop. We acknowledge that digital applied sciences present appreciable alternative to entrepreneurs scaling up their companies, whereas recognizing the necessity to successfully handle cybersecurity dangers”
Rishi Chakraborty, Companion at McLeod Regulation stated “Information breaches are fast-moving disaster conditions. The excellent news is that even when an information incident happens, this doesn’t essentially need to lead to a catastrophic final result. Whereas every breach is exclusive and requires recommendation particular to the state of affairs, we define some normal greatest practices that, if carried out, will assist.
The examine reveals the chance for Alberta entrepreneurs in the event that they take a strategic strategy to the adoption of digital applied sciences. With the provision of expertise and ample financing serving as key boundaries to additional adoption, the report recommends larger consideration be positioned on packages that focus on funding, coaching and upskilling, mentorship and constructing the mandatory infrastructure for digital expertise adoption.
Fooks and Raby not too long ago explored this subject in a Trending section for World Information, with Raby moderating a panel titled Streamlining your online business with new applied sciences on the Calgary Chamber of Commerce’s Small Enterprise Summit 2022.
The total report titled Thriving within the Age of Digital Transformation: Digital Expertise Methods for Entrepreneurial Ventures may be downloaded right here.
Development Compass is a strategic initiative of Mount Royal College’s Institute for Innovation and Entrepreneurship.
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