As entrepreneurs, you either
embrace digital technology
or become victims. You need
both internal and external
technology to improve your
processes and to reach out to
customers. Technologies like
social media, e-commerce and
websites among others are
important tools in the Digital
age.
On November 14, 2023, the Makerere University Business School Entrepreneurship Innovation and Incubation Centre (MUBS EIIC) joined the rest of the world to celebrate the global entrepreneurship week, under the topic; the entrepreneur tool kit, learning how to survive in a digital world. The event took place at MUBS Main Campus Nakawa.
While giving his remarks, The Ag. Principal Prof. Moses Muhwezi challenged students to understand the issues of digitalization, be careful, be flexible and be ready for the impact of digitalization. Imagine internet as the goal way of life, the way you align with culture and interact, should be the same when it comes to the Internet.
We are shifting from the position which we are at to another position in life, it will not take long for institutions to be headed by artificial intelligence and not human beings so let us learn to be ready.
MUBS for being part of the rest of the world in celebrating Global Entrepreneurship week and challenged students to use social media handles to make money other than using it for gossiping and to also be aware of the challenges that come with digitalization. Set time a side to be off your phone and give your brain time to think.
Prof. Muhwezi also noted another challenge is that the public is not bothered to seek knowledge “everyday the world is evolving, you must keep your eyes beyond the horizon, there are so many programs that are free online and be given a certificate, be innovative and add that to your degree.
At the same event the Mr. Paul Wilson Junior, the Vice President of Innovation and Entrepreneurship Rusell Innovation Centre for Entrepreneurs who was the Guest speaker explained that every single business has systems or process and technology is making systems more efficient, impacting the marketing strategies, and being used to make money.
Mr. Wilson discussed about the key opportunities that come with including technology in business which include; simplified market research, trend analysis, nice identification and customer segmentation and problem solving .
Mr. Wilson highlighted digital tools that include networking and collaboration, strategic partnership, collaborative innovation. Companies that actively foster collaboration are five times more likely to be high performing.
He also encouraged entrepreneurs to be resilient in all stages of business.