HOW CAN ENTREPRENEURS USE LATEST TECHNOLOGY IN ORDER TO ACCELERATE HUMAN ACHIEVEMENT AT WORK AND DRIVE BUSINESS PROCESS IMPROVEMENTS?

Maria Georgiana Ponea (), Ioana Antoaneta PONEA (radu) () and Lucian Gheorghe Nastase ()
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Maria Georgiana Ponea: ”Valahia” University of Targoviste, Romania
Ioana Antoaneta PONEA (radu): ”Valahia” University of Targoviste, Romania
Lucian Gheorghe Nastase: ”Valahia” University of Targoviste, Romania

Contemporary Economy Journal, 2020, vol. 5, issue 2, 187-191

Abstract: In today’s highly competitive environment, entrepreneurs must consider their productivity levels, in other words they will need to refer to how well their company converts the input (such as capital, materials, machines and labor) into output or goods and services. Improving productivity remains an ongoing activity. Analyzing their space and resources, improving their plant layout and eliminating processes that add no value are critical factors to success. An effective management will always count on the utilization of the latest technology, that will consequently help improve the operations. Having the end goal of fulfilling the objectives of the organization, the entrepreneurial spirit means more than wanting to start your own business, it means holding values like innovation, creativity and passion on a higher level than predictability, profit and stability. In the present article, we are going to have a look at the latest technologies trends for 2020, such as Artificial Intelligence (AI), Machine Learning (MI), Robotic Process Automation or RPA, Cybersecurity or Blockchain. Web-based technologies enable the entrepreneur to dramatically improve the way he or she runs the business, keeping an increased focus on expanding the market share, pursue the cost reduction aggressively, especially under crisis or greater efficiency, as well as preventing customer-service problems.

Keywords: Entrepreneur; Effective Management; Objectives; Strategies; Automation; Process Improvement; Operational processes (search for similar items in EconPapers)
JEL-codes: M10 (search for similar items in EconPapers)
Date: 2020
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