Knowledge Is a Currency Of The Universe



The concept of entrepreneurship, despite the fact that a large number of authors tried to define it, does not have a single definition that defines it precisely, some rough definition could be:

Entrepreneurship is an economic process that stimulates and activates creativity, innovation, improves the work and life success of an individual with the achievement of monetary rewards, encourages the economic growth of society and ensures employment, the creation of new jobs and the general welfare of society.

Project management is one of the most frequently mentioned terms in modern economic practice, although it has been around for a long time, in practice it has only gained its deserved place in theory and application in the last few decades.

With the increase in interest in project management, the role of project managers has also increased. The knowledge that a good project manager needs is important to study and constantly upgrade, because the development of technology changes every day, therefore it is necessary to constantly upgrade knowledge and skills in project management. An essential item in the knowledge of a project manager is: how to divide a project into smaller parts for easier execution of the parts that make up the whole, human resource management, material resource management, time management, motivation of project participants, control of the work that has been done and that has yet to be done in according to the project, etc.

The results of each individual project depend on the way it is conducted and the method applied in the work. With this research, we will answer the question of what is the best possibility and method of application of project management in the introduction of digital innovations in the IZ startup. In this research, the subject of research will be the choice of project management model as well as the way of introducing digital innovations in the IT sector. The subject of the research is located in the field of managing entrepreneurial projects in a startup company.

We will set the basic hypothesis that entrepreneurial project management will directly influence the introduction of digital innovations in the IT company.

We will measure the positive impact of entrepreneurial management through the productivity of the execution of certain parts of the tasks, through the time cycle of the introduction of the innovation, entering the market as well as the growth of the company as a whole, the motivation of the participants in the project as well as their participation in the project.

We will also list several auxiliary hypotheses that will help us make a decision about the primary main hypothesis:

X11. The entrepreneurial way of managing the project leads to a shorter project duration, speeding up the process and lower project costs.

X12. The entrepreneurial way of managing the project leads to greater user satisfaction and increased traffic.

The goal of the research is to show how important and advanced the entrepreneurial way of managing projects and introducing innovations is.

In the paper we used the method of analysis and description, and in the paper we will compare the traditional way of managing projects with entrepreneurial management and show their results.

In the first part, we will present the theoretical part of the entrepreneurial way of managing projects as well as the digital transformation of companies in general, in the second part of the work, we will practically present the results of the research using an example. The third and final part will be dedicated to drawing conclusions and discussing the results obtained and the research problem itself.

1.2 Concept of project management

Project management is an area within organizational theory and practice that is constantly developing.

There are several definitions of project management, in short it can be said that they all have in common that it is applied knowledge, skills and tools on project activities to achieve the requirements that have been put before the project by the stakeholders.

Activities that make up only the essence are:

• Planning

• Organizing

• Project monitoring and control

• Motivating all project participants

We will start with the term project, which according to PMI (English Project Management Institute - PMI) is defined as a time span aimed at creating a unique product, service or some other specific result.

Traditionally, work in the organization was divided into processes and projects, we usually say that processes are activities that continuously and daily transform certain inputs into desired outputs. Project is used to describe activities that are not performed every day, but such activities are performed as needed.

The project has the following characteristics:

• It has a goal and a purpose

• It is performed by people

• Has limited resources

• It is planned, implemented and controlled

Project management is used to manage projects of various sizes and complexity. This is used for projects that are short-term and have clearly defined goals and objectives, as well as for long-term projects that have multiple phases and goals. Project management is used in various industries, including construction, IT, manufacturing, marketing, etc.

1.3 Types of project management

There are several types of project management, some of which are the most common:

1. Traditional project management (or phase project management) is used to plan, execute and control the project according to phases. Prthe object is divided into several phases, and each phase contains clearly defined goals and tasks.

2. Agile project management is used for projects that are flexible and require quick adaptation to changes. An agile approach implies an iterative approach, in which the project is realized in short cycles (iterations), and each cycle contains planning, execution and evaluation.

3. Lean project management is used for projects aimed at eliminating excess and improving efficiency. Lean project management is based on the methodology of the Lean concept, which is used to reduce costs, improve quality and increase productivity.

4. Project portfolio management is used to manage a set of projects that take place simultaneously. Project portfolio management is used to optimize resources and balance the goals and priorities of each project in the portfolio.

5. Program management is used to manage a set of projects that are connected and have common goals. Program management is used to coordinate the work of project teams and resources that are necessary for the realization of program goals.

1.4 Entrepreneurial project management

Entrepreneurial project management is a project management approach used in entrepreneurship, i.e. when new companies or new products or services are developed and launched. The goal of this approach is to ensure the success of a new enterprise or project through planning, execution and project control. It is also the process of adhering to a specific plan and strategy used to achieve the goals set for a specific project or organization. This includes planning, scheduling, managing, controlling, and reviewing projects, as well as coordinating time, money, and human resource requirements. Objectives may include achieving a specific goal, improving performance, saving money, or reducing risk.

Entrepreneurial project management differs from traditional project management in that it focuses on opportunity identification, product and service development, community engagement, and risk management. The approach is often used in combination with methodologies such as Design Thinking, Lean Startup, and Customer Development.

Entrepreneurial project management is also used to manage the different phases of a project, from ideation to commercialization. In the initial phase, entrepreneurial project management is used to identify and develop ideas, while in the later phases it is used to plan, execute and control the project.

Digitization of business is a process that involves the use of technology to improve business processes. In the broadest sense, the digitalization of business includes the application of the latest technologies, such as computers, the Internet and mobile devices, for the simplification, automation and digitization of business processes.

The advantages of business digitization are numerous. The first advantage is cost reduction as digital tools are used to automate processes, which means that employees do not have to deal with routine tasks as much. Digitization of business also enables easier learning and greater productivity, as well as better manageability and collaboration, facilitates communication and enables better system integration. This also includes possibilities such as easier access to information, easier adaptation to new conditions and requirements, improvement of user experience and faster response to demand.

1.5 Digital innovations

Digital innovations have become crucial for business growth and transformation in today's digital world. They enable companies to create new values, improve user experience and achieve competitive advantages. However, for the successful application of digital innovations, companies must understand how digital technologies can be applied in their business and how they can be integrated into existing processes.

One of the key aspects of digital innovation is the development of new business models. According to Aagaard, "digital technologies enable companies to create new business models based on new ways of creating and providing value". This includes the application of technologies such as artificial intelligence and Blockchain to create new products and services, and to improve existing processes.

Another important aspect of digital innovation is improving the user experience. According to Wirtz, "digital innovation can help companies improve the customer experience through personalization, simplicity and speed." This includes the application of technologies such as artificial intelligence and analytics to adapt products and services to the individual needs of users, and to improve support and assistance services.

In addition, digital innovations are key to creating new sales and marketing channels. According to Lubiano and Esteves (2017), "digital technologies enable companies to reach new customers through various channels, including social media, mobile applications and e-commerce". This includes the application of technologies such as digital marketing, social media and analytics to improve the effectiveness of marketing campaigns and increase audience reach.

Finally, digital innovation is key to achieving competitive advantage and long-term success. According to Sumathi et al. (2022), "companies that successfully apply digital innovations can achieve greater efficiency, increase revenues and create new opportunities for growth and development". This includes continuously monitoring and adopting new technologies and business models to ensure competitiveness and success in today's digital world.

1.6 Artificial intelligence (English AI – Artificial intelligence)

Artificial intelligence, hereafter AI is the name for computer algorithms that can learn and change. This term has often been seen in movies, but this technology is not yet at the level that is often shown in the media, where software can be changed and used through many applications and has human-like intelligence. In reality, AI refers to very specific algorithms that focus on specific tasks. Those tasks, i.e. According to B. Armstrong ( ), the areas of work are divided into:

• Machine perception: the ability for computers to perceive and understand what is happening around them in the environment.

• Natural language processing: continuation of speech recognition. It differs in that, in addition to recognizing speech, AI in this case tries to understand it more deeply and looks for things like meaning, semantics and context.

• Affective computing: refers to the ability of algorithms to understand emotions, and consists of two parts. The first is the recognition of human emotions, which it does according to facial expressions or words.

• Automated planning: the ability of algorithms to plan and propose specific and directed actions.

• Machine learning: the largest and most important area of AI in practice. It refers to algorithms that learn from data in the same way that children learn from data, by watching others use and work with that data. By means of this, they build their understanding of them. Although these items sound promising, we can expect problems and setbacks in the further development and use of AI, but not interruptions in its development. Today's era of technology development and high-performance computers represents a great basis for further development and practical application of this technology.

Today, leading technology companies rely heavily on not only AI, but all systems mentioned so far, such as IOT (Internet of things). Using them, they create powerful tools for business development and thus achieve progress that promises even greater future development and progress. This also applies to innovations in technology, but also to business methods.

Machine learning uses the example we will use in this paper and an algorithm to learn human habits and repetitive actions that the algorithm can repeat.

No comments:

Post a Comment

Popular Posts