There is an obvious departure from the traditional status of business to the transitional status. The Traditional or Classic status of business presupposes that we need land, labour, capital and entrepreneurial ability to create any form of utility. The transitional status which is a derivative of the 21st century advancement in knowledge suggests otherwise. You will agree with me that we don't necessarily need these four factors to start a business. It is amazing that a person in this age and time can compress these four factors into a laptop.
