Understanding Social Media and Entrepreneurship: The Business of Hashtags, Likes, Tweets and Stories (Exploring Diversity in Entrepreneurship)

Social media offers an opportunity for people to enlarge their exposure to information; information about important changes and trends in technology, markets, government policies, or society in general that can facilitate entrepreneurship, business development, and more. Despite the widespread cultural and social effects of social media in the way people communicate and interact, little research has addressed the role of social media in entrepreneurship. This book fills this gap by exploring the influence and consequences social media has on entrepreneurship at the individual level, group level, venture (firm) level and societal level. Specific social media platforms (e.g., Facebook, Twitter, Instagram, etc.) will be explored as well as topics such as gender, education and socioemotional wealth. Acknowledgment......Page 5 Contents......Page 6 List of Figures......Page 8 List of Tables......Page 9 About the Contributing Authors and Editors......Page 10 Part I: Social Media in Entrepreneurship Research: Where Are We?......Page 16 1.1 Introduction......Page 17 1.2 What Is Social Media?......Page 19 1.3 Social Media, Businesses, and Entrepreneurship......Page 20 1.4 The Structure of This Volume......Page 22 References......Page 24 2.1 Introduction......Page 28 2.2 Social Media......Page 30 2.3 Entrepreneurship and Business Models......Page 31 2.4 Opportunities for New Ventures......Page 32 2.5 Evaluation Process......Page 35 References......Page 38 Chapter 3: Social Media and Entrepreneurship: Exploring the Role of Digital Source Selection and Information Literacy......Page 42 3.1 Introduction......Page 43 3.2 Social Media and Entrepreneurship......Page 45 3.3 Information Literacy......Page 47 3.4 The Study......Page 48 3.4.2 Sample Characteristics......Page 50 3.5.1 Measurement Model......Page 51 3.5.3 Mediation Test......Page 53 3.6 Discussion......Page 54 References......Page 56 Part II: Social Media in Entrepreneurship Research: Where Have We Been?......Page 60 4.1 Introduction......Page 61 4.2 Social Media Research: An Overview......Page 63 4.2.1 Quadrant 1: Antecedents of Individual Participation on Social Media (Q1)......Page 64 4.2.2 Quadrant 2: Consequences to Individuals (Q2)......Page 65 4.2.3 Quadrant 3: Antecedents of Firm’s Participation on Social Media (Q3)......Page 66 4.2.4 Quadrant 4: Consequences to Firms (Q4)......Page 67 4.3 Social Media Research in Entrepreneurship......Page 69 4.4 Effectuation Theory......Page 70 4.4.1 Opportunity Recognition via Social Media......Page 71 4.4.2 The Moderating Role of an Affordable Loss......Page 72 4.4.3 The Moderating Roles of Effectual Logic: Who I Am......Page 73 4.5 Discussions and Conclusions......Page 74 References......Page 75 Chapter 5: Exploring the Gendered Nature of Digital Social Networks......Page 80 5.1 Introduction......Page 81 5.2 Social Media’s Social Network Sites (SNS)......Page 82 5.3 The Scholarly Examination of SNS......Page 84 5.4 Gender and Entrepreneurs’ Offline Network Connections......Page 85 5.5 SNS Affordances......Page 86 5.6 SNS Affordances and Entrepreneur Network Connections......Page 87 5.7.1 SNS Profile......Page 89 5.7.3 Social Grooming......Page 91 5.8 The Audience (and Context Collapse)......Page 92 5.9 Gender, Entrepreneur Networks, and Trolling on Social Media......Page 95 5.10 Promising Areas for Future Research......Page 96 References......Page 98 Chapter 6: How Is Social Media Adopted by Entrepreneurial Teams?......Page 103 6.2 Understanding Entrepreneurial Teams......Page 104 6.3 Social Media......Page 107 6.4 Methodology......Page 110 6.5 Data Analysis......Page 112 6.5.2 Role of Content (Creating and Marketing)......Page 113 6.5.3 Technology Acceptance and Team Dynamics......Page 114 6.5.5 Market Access and Expansion......Page 115 6.5.7 Recognising the Power of Social Media and Business Repositioning......Page 116 6.5.9 Technical Complexity......Page 117 6.5.11 Consistently Producing Content Is a Tough Strategy......Page 118 6.5.13 Choosing Influencer Marketing......Page 119 6.5.15 More Conversions/Sales......Page 120 6.5.17 Build Engagement......Page 121 6.6 Conclusion......Page 122 References......Page 123 Part III: Social Media in Entrepreneurship Research: Where Do We Go Internationally?......Page 128 7.1 Introduction......Page 129 7.2 Entrepreneurship in the United Arab Emirates......Page 130 7.3.1 Social Media Usage......Page 133 7.3.2 Social Media and Entrepreneurship......Page 134 7.3.3 The Rise of Instagram Influencers......Page 135 7.5.1 Regulatory Framework......Page 136 7.5.2 Normative Framework......Page 138 7.5.3 Cognitive Framework......Page 139 7.6 Discussion......Page 141 References......Page 143 8.1 Introduction......Page 148 8.2 Social Media in the Business Promotion of Small Entrepreneurial Firms......Page 152 8.3 Operating in the International Business Environment......Page 153 8.4 Empirical Evidence: Case Study of Five Internationalizing Small Entrepreneurial Firms......Page 154 8.5.1 Kyrö Distillery......Page 156 8.5.2 Goodio......Page 158 8.5.3 Supermood......Page 159 8.5.4 Népra......Page 161 8.5.5 Vimma......Page 162 8.6 Aggregate Findings......Page 164 8.7 Conclusions......Page 167 Appendix: Data Analysis (cf. Fig. 8.2)......Page 169 References......Page 171 Part IV: Social Media in Entrepreneurship Research: Where Could We Go?......Page 176 Chapter 9: The Devil on the Entrepreneur’s Shoulder: Analyzing the Relationship Between Moral Disengagement, Founders’ Motives, and Unethical Behavior of Entrepreneurs on Social Media......Page 177 9.1 Introduction......Page 178 9.2.1 The Dark Side of Social Media......Page 180 9.2.2 Moral Disengagement and Unethical Decision-Making......Page 181 9.3 Development of Hypotheses......Page 182 9.4.2.1 Unethical Behavior of Entrepreneurs on Social Media......Page 185 9.4.2.3 Attention to Economic Goals and Attention to Ethical Responsibilities......Page 186 9.5 Results......Page 187 9.5.1 Additional Analyses......Page 188 9.6.1 Theoretical Contributions......Page 190 9.6.2 Practical Implications......Page 191 9.6.3 Limitations and Further Research......Page 192 Appendix A......Page 193 References......Page 194 Chapter 10: In Pursuit of Socioemotional Wealth: The Affordances of Social Media in Family Firms......Page 199 10.2 The Use of Social Media in Pursuit of Socioemotional Wealth......Page 200 10.3 An Affordance Lens on the Use of Social Media to Achieve Socioemotional Objectives......Page 201 10.3.1 Visibility......Page 202 10.3.1.2 Metaknowledge as a Mode of Facilitating Opportunity Recognition and Firm Longevity......Page 203 10.3.1.3 Organizational Activity Streams as a Means of Exercising Family Influence......Page 204 10.3.2 Persistence......Page 205 10.3.2.1 Sustaining Knowledge Over Time to Build Binding Social Ties......Page 206 10.3.2.2 Robustness of Communication as a Means of Facilitating Knowledge Sharing and Strategic Renewal......Page 207 10.3.2.3 Content Growth as a Means of Building Legitimacy......Page 208 10.3.3.1 Regulating Personal Expressions for Building a Favorable Corporate Image......Page 209 10.3.3.2 Targeting Content to Improve Social Ties and Ensure Continuity of the Family Firm......Page 210 10.3.3.3 Improving Information Quality to Enable New Knowledge Creation and Long-Term Sustainability......Page 211 10.3.4.1 Supporting Social Connections to Facilitate Family Identification and Emotional Attachment......Page 212 10.3.4.2 Access to Relevant Information to Foster Adaptation and Sustainability......Page 213 10.3.4.3 Enabling Emergent Connections to Ensure Survivability......Page 214 10.4 Conclusion......Page 215 References......Page 216 Index......Page 223