SOCIAL MEDIA ENTREPRENEURSHIP AS A TOOL FOR NATIONAL DEVELOPMENT: A CASE STUDY OF SELECTED BLOGGERS AND WEBMASTERS IN IKEJA, LAGOS


SOCIAL MEDIA ENTREPRENEURSHIP AS A TOOL FOR NATIONAL DEVELOPMENT: A CASE STUDY OF SELECTED BLOGGERS AND WEBMASTERS IN IKEJA, LAGOS  

TABLE OF CONTENT

Title Page………………..i

Certification……………ii

Dedication………………iii

Acknowledgment……….iv

Abstract…………………vi

Table of content………vii

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND TO THE STUDY

1.2    STATEMENT OF THE PROBLEM

 1.3    OBJECTIVES OF THE STUDY

1.4    RESEARCH QUESTIONS

1.5    HYPOTHESIS

1.6    SIGNIFICANCE OF THE STUDY

1.7    SCOPE/LIMITATIONS OF THE STUDY

LIMITATION OF STUDY

REFERENCES

CHAPTER TWO

LITERATURE REVIEW

2.1 INTRODUCTION

2.2 THEORETICAL FRAMEWORK

2.2.1 Schumpeter’s Theory

2.2.2 Inkele’s and Smith’s need to improve theory

2.2.3 Kirzner’s theory of “entrepreneurship alertness”

2.3 THE CONCEPT OF ENTREPRENEURSHIP

2.4 WHO IS AN ENTREPRENEUR?

2.5 TYPES OF ENTREPRENEURS

2.6 ROLES OF ENTREPRENEURS IN THE NIGERIAN

ECONOMY

2.7 PROBLEM OF NIGERIAN ENTREPRENEURS

2.8 PROSPECTS OF ENTREPRENEURS IN NIGERIA

2.9 THE CONCEPT OF SOCIAL MEDIA ENTREPRENEURSHIP

2.9.1 Social Media

REFERENCES

CHAPTER THREE

RESEARCH METHODOLOGY

3.0 INTRODUCTION

3.1    RESEARCH DESIGN

3.2    POPULATION OF THE STUDY AND METHOD OF POPULATION

DETERMINATION

3.3    SAMPLING PROCEDURE AND SAMPLE SIZE DETERMINATION

3.4    METHOD OF DATA COLLECTION AND DATA SOURCES

3.5    INSTRUMENT DEVELOPMENT

3.6    INSTRUMENT VALIDATION

3.7    INSTRUMENT RELIABILITY TEST

3.8    METHOD OF DATA ANALYSIS AND STATISTICAL TOOL

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS, AND INTERPRETATION

4.1 Data Presentation and Analysis

BIODATA OF RESPONDENTS

RESEARCH HYPOTHESIS

CHAPTER FIVE

FINDINGS, CONCLUSION, AND RECOMMENDATION

SUMMARY

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND TO THE STUDY

Nigeria is the most populous country in Africa and has the potential to be one of the prime drivers of development on the continent. Nevertheless, the country's development is constrained by the weak environment for broad-based economic growth. Achieving sustainable long-term change requires a significant strengthening of policy formulation and implementation processes. At its core, this involves the supply of, and demand for, improvements in the business environment.

Social media entrepreneurship is a new phenomenon that has changed how the business environment operates. Businesses are able to gain access to resources and online exposure that were otherwise not available to them. It has also helped businesses to increase their worthiness, cultivate strategic partnerships and increase their contact with customers and suppliers. It has become important for business owners and marketers to register their presence on social media which also works as a communication and marketing tool which significantly grows their businesses.

The entrepreneurs on social media have the ability to share their business ideas and encounters. This assists in creativity, open communication, and sharing of knowledge among users. Facebook, Skype, and discussion forums are examples of social media tools where large numbers of entrepreneurs participate (Tapscott and Williams, 2008). The sky is the limit with social media. Owing to the flexibility of social networking tools, businesses can realize different benefits. These according to Simon (2012) are greater access to different audiences, increased patronage, improved customer service, improved products and services, job creation, and adoption of favorable pricing practices. The 21st century has seen a shift in the way businesses operate. Smith and

Taylor (2004) reveals that companies are presently experiencing several new unanticipated events and the development of the Internet as a communication channel is almost certainly one of the most influential factors. The internet has brought about several new elements – it has made consumers more accessible, it has emerged with a completely new set of communication tools that make the process of exchanging information much easier and faster, and it has compelled companies to rethink how they are communicating with their customers (Jaokar, Jacobs, Moore and Ahvenainen, 2009). Entrepreneurs, marketers, and consumers are witnessing the appearance of virtual social media. As of January 2012, there were more than 800 million active Facebook users, with over 250 million of them logging in every day. In addition, the average Facebook user has 130 friends and likes 80 pages but this figure is expected to expand with time. Additionally, over 3.5 billion pieces of content such as blog posts, weblinks, and news stories are shared on this social network (Digital Buzz, 2012). The Internet and online social networks allow individuals to connect with one another. It is important for entrepreneurs and marketers to grasp how the Internet functions and the expectations of its users.

Mangold and Faulds (2009) recognize that social media allows an enterprise to connect with both existing and potential customers as the number of businesses that fully operate online only continues to increase all over the world. This has greatly reduced unemployment thereby contributing to economic growth all over the world. Social networking has led to the introduction of social media entrepreneurship and presented new ways of communicating to expanse audiences on various Internet platforms. Different kinds of organizations render various services through social media all over the world e.g. health, news, sports, education, etc. (Kotler and Armstrong, 2011).

1.2   STATEMENT OF THE PROBLEM

There are many reasons why individuals become entrepreneurs; it could be to earn money, to make a difference to community/environment or simply passionate about it, or to fulfill a lifelong dream. Whatever the reason may be, it is not a joke or a simple task in just becoming an entrepreneur or to start a business, the individual needs lots of resources such as capital, labor, technology/ technical know-how, and many other things. Location of this business and visibility and increased patronage is another factor to consider. Entrepreneurs extensively use social networks to obtain access to a large population of people all over the world through the internet and also use contacts in decision-making and sharing ideas. Social media Entrepreneurs operate their business online, this has greatly reduced unemployment all over the world (Greve and Salaff 2003). However, the researcher is examining social media entrepreneurship as a tool for national development.

 1.3  OBJECTIVES OF THE STUDY

The following are the objectives of this study:

To examine social media entrepreneurship as a tool for national development. To examine the advantage so social media entrepreneurship. To identify the factors militating against social media entrepreneurship.

1.4   RESEARCH QUESTIONS

Can social media entrepreneurship be used as a tool for national development? What is the advantage so social media entrepreneurship? What are the factors militating against social media entrepreneurship?

1.5   HYPOTHESIS

HO: Social media entrepreneurship cannot be used as a tool for national development

HA: Social media entrepreneurship can be used as a tool for national development

1.6   SIGNIFICANCE OF THE STUDY

The following are the significance of this study:

The results of this study will throw light on approaches to social media entrepreneurship and how it can be used as a tool for national development. This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently if applied will go to an extent to provide a new explanation to the topic.

1.7   SCOPE/LIMITATIONS OF THE STUDY

This study on social media entrepreneurship as a tool for national development will cover the activities of the entrepreneurs on social media and the profitability with a view of determining its effect on national development.

LIMITATION OF STUDY

Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature, or information and in the process of data collection (internet, questionnaire, and interview).

Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted to the research work.

REFERENCES

Kotler, P. and Armstrong, G. (14th ed.) (2011). Principles of Marketing. Pearson Prentice Hall.

Greve, A. & Salaff, J.W. (2003). Social Networks and Entrepreneurship. Entrepreneurship: Theory & Practice28(1), 1-22.

Mangold, W. G, and Faulds, D. J. (2009). Social Media: The New Hybrid Element of the Promotion Mix. Business Horizons 52: 357-365.

Simon, A. (2012). Management of the Innovation Process in Small Companies in Finland. IEEE Transactions on Engineering Management 36(10), 120-126.

Jaokar, M., Lewis, P. & Thornhill, A. (2009). Research Methods for Business Students. Fourth. ed: Pearson Education.

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SOCIAL MEDIA ENTREPRENEURSHIP AS A TOOL FOR NATIONAL DEVELOPMENT: A CASE STUDY OF SELECTED BLOGGERS AND WEBMASTERS IN IKEJA, LAGOS



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