Entrepreneurship

Identify a new business, not an industry but a company, that would not have been possible or likely to be
in business a decade ago. Describe the business in one paragraph.
Describe how this business is taking advantage of changes in the external business environments
described in Chapter 1 in a second paragraph. More than one environment may apply.
Incorporate APA Style in-text citations and correctly formatted references to properly document your
resource.

Entrepreneurship

With the development of technology and information, Instagram continues to be an integral aspect of human life as well as the business world. Kevin Systrom launched the application in 2010, enhancing the quality of life for humans by enabling creativity and improving connections and communications across the world. It functions as a smartphone application, and is used for social media, and also utilized to share photos and videos. When comparing the past and the today, it’s clear that Instagram has more positive effects than harm as it has improved the way the society is becoming more entrepreneurial on a daily basis. For instance, businesses use the platform to market their products and services, and quickly reaching an even larger number of people. It aids users in finding easily accessible information about brands, companies and products to make purchases. This is why Instagram has become a crucial platform for people as well as the business world.

Instagram has transformed into the business world , being a brand new platform for advertising. Its advantages lie in its rapid characteristics and high market coverage for business prospects(Zigu 2013). Instagram has proven to be a quicker method of promoting constant advertisements and generating new trends and convincing people to purchase products. The speed of promoting companies via Instagram is an added benefit, as it increases revenues and also brings economic benefits to the influencers’ community. With the help of Instagram influencers have contributed to the GDP of all countries by providing brands with low-cost and efficient marketing across specific segments (Konstantopoulou and co. (2018,).