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Smart Entrepreneurship: Opportunity For Development Of The Furniture Industry In The North-East Region Of Romania

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  • GUSUL Procopie-Florin

    ("Ștefan cel Mare" University of Suceava, Romania)

Abstract

Augmented reality (AR) allows for further development of the physical world by adding real-time virtual digital information. This gives entrepreneurs and especially retailers unprecedented options to attract customers. Having the power to put (virtual) products into the hands of customers creates interesting opportunities for users in order to prefer a particular brand, service or product. Although it is expected that the AR solutions market to grow exponentially in the coming years and several companies have already tried to expand their business by using this type of smart technology, this issue is less known in Romania, much less in regions which are less economically developed and, specifically with regards to the entrepreneurial environment. This paper debates and demonstrates that AR technology applied by a smart entrepreneur can direct customer behaviour in the purchasing process and produce favourable outcomes such as product knowledge, positive attitudes, and stronger buying intentions. This paper specifically addresses how an AR-type solution widely used by a multinational company such as IKEA may become an opportunity to develop entrepreneurship in the North-East region of Romania, having as starting point the Strategy for Research and Regional Innovation through Intelligent Specialization (RIS3) North-East which evokes the furniture industry as a priority for the region, corroborated with the statistical data presenting relevant information on primary production in the wood industry.

Suggested Citation

  • GUSUL Procopie-Florin, 2019. "Smart Entrepreneurship: Opportunity For Development Of The Furniture Industry In The North-East Region Of Romania," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 71(2), pages 77-91, September.
    • Handle: RePEc:blg:reveco:v:71:y:2019:i:2:p:77-91
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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/71206gusul.pdf
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    smart city; augmented reality; intelligent specialization; entrepreneurship; furniture industry;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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