Corporate Elderly Entrepreneurship in the Digital World

Corporate Elderly Entrepreneurship in the Digital World

DOI: 10.4018/978-1-6684-5295-0.ch094
(Individual Chapters)
No Current Special Offers


The purposes of this study are to address elderly entrepreneurship in the context of corporate entrepreneurship, to determine its dimensions, and to make suggestions with the results obtained. The systematic review method was adopted in the study. According to the findings, it has been determined that corporate elderly entrepreneurship includes innovative risk and opportunity management, innovative elderly initiative, innovative proactivity, competition management, and resource management. It is recommended to meet the needs arising due to the social, psychological, cognitive, physical, and health-related decline of elderly consumers through corporate social entrepreneurship. This type of entrepreneurship is an important approach added to the literature to meet the consumer needs that differ with the increasing elderly population. Providing the needs and satisfaction of the elderly is possible with corporate entrepreneurship. Determining the future needs of the elderly living in a nursing home or with their families requires management in innovation.
Chapter Preview


The world population is gradually increasing, and consumer needs, which vary according to the increasing population, also differ (Harris, 2020). Developing technology, new techniques, increase in the number of production and entrepreneurs have led to competitive price decreases in products and services (Kort, Taboubi, & Zaccour, 2020; Bojkovska et al., 2020). Increasing competition led to significant differences in quality and price in products and services (Choi, 2019). Thus, alternatives for products and services towards the satisfaction and need of consumers are increasing (Kim, Lee, & Lee, 2020; Jeeva & Kumar, 2020; Grant & Philipp, 2020). The increase in alternatives also differentiated entrepreneurial behaviors significantly due to the increase in the number of entrepreneurs in products and services (James et al., 2020; Raza, Muffatto, & Saeed, 2019).

Entrepreneurship behavior goes beyond the current needs of consumers and is directed towards future needs (Perry et al., 2017). Internet networks and technology increase the satisfaction level of consumers and enable the interaction of businesses with consumers in different geographies (Mayer & Leick, 2019; Yen, 2005; Evans et al., 2001; Hennig-Thurau et al., 2004; Liu et al., 2020). High-speed trains, air, and sea transportation are also improved, so consumers get the product they demand to purchase quickly. This rapid change and development increased the competition and differentiated the needs of the consumers. On the other hand, the increasing elderly population caused differentiation of the consumer mass (Gilly & Zeithaml, 1985; Wang, Hu, & Li, 2016).

The increase in the elderly population paved the way for new initiatives and businesses and individuals approach this population increase as an important opportunity (Backman, Karlsson, & Kekezi, 2019; Fritsch, Sorgner, & Wyrwich, 2019). Thus, elderly entrepreneurship has emerged. The foundations of elderly entrepreneurship arise from differences in the physical, social, cognitive, psychological, and health needs of older individuals (Maâoui, 2019). Initiatives linked to innovations in the field of geriatrics and gerontology can be given as examples (Schiavone, Dezi, & Leone, 2019). Innovative product and service requirements regarding aged care, treatment of aging diseases, aging-related declines can be satisfactory via entrepreneurs (Colovic, Lamotte, & Bayon, 2019; Backman, Karlsson, & Kekezi, 2019). Elderly people, who started to move away from social life, experience memory problems, are abandoned by their families, and need care because of social isolation (Tasheva et al., 2020; Clark et al., 2020; de Morais Fabrício, Chagas, & Diniz, 2020). The health problems posed by the aging process require the care of elderly individuals at home or in the hospital (Patty, Elkhuizen, & Huijsman, 2019; Paul et al., 2019; Adıgüzel & Acar-Tek, 2019). However, the execution of all these services can be more satisfying with innovative actions. In this case, elderly entrepreneurship is an important process that provides the satisfaction of elderly individuals with their consumption-based needs and requires innovative and creative processes and actions in products, services, and processes for future needs (Ting, 2008; Stough, 2016). The high-aged population of developed countries has the biggest share in the emergence of this type of entrepreneurship (Muramatsu & Akiyama, 2011; Park et al., 2014). On the other hand, the increase in the elderly population, especially in developing countries, raises the issue that policymakers should take some measures in terms of meeting consumer needs (Mitchell, 2016; Coole, 2012; McCracken, 1987; Piekut, 2020; Bai & Lei, 2020). For this reason, it has become necessary to address entrepreneurship in the context of aging and corporate entrepreneurship, which is the current subject of today.

The purpose of this study is to address elderly entrepreneurship in the context of corporate enterprise, to determine its dimensions, and to make suggestions with the results obtained. The study was carried out by a systematic literature review. The target audiences of the study are the fields of business, entrepreneurship, innovation, management, aging, gerontology, geriatrics, and gerontechnology.

Complete Chapter List

Search this Book: