Brunel University MG5592: Social Media and Entrepreneurial Firms

This essay examines the crucial role of social media in entrepreneurial firms, focusing on how it enhances responsiveness, facilitates customer feedback, and boosts online presence. The essay analyzes journal articles to demonstrate social media's impact on marketing, brand awareness, and business development. It explores the use of platforms like Facebook, LinkedIn, and Instagram to improve customer engagement and gain insights into market trends. The study also highlights social media's contribution to networking, brand awareness, and sales growth. The conclusion emphasizes social media's significance in the modern entrepreneurial landscape, offering real-time performance analysis and competitive advantages. The essay underscores the importance of developing social media skills for entrepreneurs to maximize business opportunities and achieve success in a competitive market.

Entrepreneurship Written
Coursework

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
An entrepreneur is considered to be as the individual who tends to start the business and
is highly responsible for all the rewards and risks associated with the business venture. Sales,
distribution and marketing are considered to be as the crucial aspect which in turn has been
mainly controlled by entrepreneur. This study will mainly focus on effectively determining the
role of the social media related with the entrepreneurial firm.
MAIN BODY
Journal article: Entrepreneurial entry: The role of social media
Wang and et.al., (2020) stated that, most of the customers tend to recommend the brand
to the others if the customers have positive degree of experience on the social media. One of the
key significant role of the social media associated with the entrepreneurial firm is that, it is
considered to be prominent in effectively improving the responsiveness. Social media is
significant in providing ease associated with the business process. It is also relevant to provide
and receive the feedback. Social media is considered to be highly significant in effectively
giving the customers an accessible and convenient way to measure and effectively express what
they feel about the company. Use of significant social media platforms like Facebook, LinkedIn,
YouTube, Instagram, Twitter, etc. which is considered to be prominent in understanding the
viewpoint and complaint set of the customers. Olanrewaju and et.al., (2020) stated that, social
media is considered to be of utmost crucial importance for the growth of the business. It is of
crucial importance for the company to effectively keep up with the digital marketing strategies.
This is significant in keeping up with the key competitors within the business and helps in
improving the business performance as well as the efficiency. It is significant in boosting up the
online traffic and is relevant in increasing the sales of the business. It is a prominent tool to stay
ahead of the competitors and provide customers with the best possible set of products and
services. Datta, Adkins and Fitzsimmons, (2020) established the fact that, use of the social
media platform is considered to be crucial for the better networking opportunities. There seems
to exponential degree of growth associated with the use of social media within the
entrepreneurship firm. Entrepreneurship tends to significantly involve uncertainty and
innovation. However, the social aspects associated with the entrepreneurship is useful in
increasing the profitability and also leads to higher entrepreneurial success.

Olanrewaju and et.al., (2020) stated that, Social network theory is considered to be the
key prominent model through which it helps in studying how the organization, people and the
group interacts with one another within their own social network. Use of the social media is
considered to be significant in effectively gaining valuable set of social capital which is
beneficial for the growth and success of the business. This theory is considered to be significant
in effectively examining the individual pieces and tends to start with the large elements and tends
to work down towards small elements. This helps in gaining better set of perspective associated
with the human, social, financial, and technical set of capacity which also tends to contribute
towards the entrepreneurial capacity. This way it is prominent in improving the high degree of
performance and leads to better business efficiency.
ROSHANDEL-ARBATANI and et.al., (2019) established the fact that, Social media
tends to offer high degree of opportunity for the individual people through which it helps in
enlarging the exposure of the information. Using appropriate keywords and hashtags is highly
beneficial for the entrepreneurial firm to find the right customers. This eventually helps in
improving the customer base and leads to high degree of sales and profitability for the company.
Use of the social media is considered to be highly informative. It helps in generating wide degree
of information and also helps in giving better set of insight linked with the market. It is also
useful in evaluating and gain complete analysis regarding the activities performed by the
competitors. Social media is one of the key prominent measure through which it helps in
gradually evolving as the key integral aspect. This is significant in maximizing the online
presence of the entrepreneurial firm. The approach of the customers towards shopping as
drastically changed. Lackéus, (2017) determined the fact that, Customers prefer online platforms
to buy the specific goods and services of the company. This is mainly because it provides ease
for shopping and helps improve the business results and outcomes at a greater scale. The
significant degree of social media activities are performed using mobile devices. This must be
done by effectively complying the best possible social media strategy. Social media is prominent
in providing the real time performance analysis of the entrepreneurial firm. This is significant in
boosting up the brand awareness, brand loyalty and sales of the company. It helps in finding out
the right audience and also increase traffic on the site using search engine optimization. Social
media has been gradually evolved over a period of time. Incorporation of the social media helps
in interacting as well as adapting to the key changes which tends to influence the operations of

the business. Olanrewaju and et.al., (2020) stated that, entrepreneur of the company must
significantly focus on effectively developing the social media skills such as analytical skills,
communication skills, creativity skills, efficiency skills, time management skills, flexibility
skills, project management skills and understanding trends skills, etc. in order to carry out the
business operations. This is significant in effectively increasing the key opportunities of the
business and also leads to growth within the business and leads to brand development.
The impact of social media
Journal article: The role of social media in entrepreneurial development-
In recent time, instead of gathering data from the most common or traditional methods,
people are like to collect key information about specific products, services or other things in
which they are highly interested by using the best and most popular social media sites or
channels, which is quite beneficial for them. According to Kane, (2017) social media can be
described as interactive computer medicated technologies that can facilitate sharing and
development of ideas, data, information and other forms of expression via networks or virtual
communities. It play significant role in development of several different companies and success
of entrepreneurial in systematic as well as effective manner. Just because of social media in
today’s period, business man or women has successfully reach at target market and communicate
with them by conducing ethical practices which in return build positive relationship between
brands and its target market that boost productivity and profitability as well even better than last
few years or months. Furthermore, social media play vita role in term of increasing ability of
entrepreneurial in context of expanding business within new and profitable market where
potential buyers are seeking to purchase quality goods and services from popular companies.
Lou and Yuan, (2019) discussed that social media play important and useful role in form
of creating effective and influencing marketing content which gain attention of new buyers and
help management to retain existing one for longer period of time. In world of marketing different
social media channels or sources are available which a company can use to promote its services
and products in systematic manner which can help in term of influencing his or her decision
making. Marketing team by positing ads and message could persuade a group of consumers to
purchase their goods which lead to improve sales and increase profits margin of a venture more
than other its rivals. Customers like to stay connect with different social media sites because they

can consider it as useful technology or element where any type of information has been
accessible either product or social.
Kim, Yoo and Yang, (2020) define that social media not only play role in term of gain
attention of new customers, it bring a lot of benefits like help to generate brand awareness which
is one of the most important roles that it can plays in regard to entrepreneurial development.
Brand awareness is the most challenging and crucial task for any organization in recent time
because it require hard work and extra efforts as compare to daily work which is not possible for
any brand either small or big who has operated in the worlds of business. But because of social
media, this act is quite easier for entrepreneur as help to generate awareness about goods and
ventures successfully. It is one of the best source of marketing through which this process is
accomplish and allow marketing team at a company to obtain desire outcomes. Social media
contributes to generate brand awareness in form of marketing and promoting overall business
operations at national or international level. This term can be considered as key for boosting
brand awareness which is possible when organizations or entrepreneurial successfully understand
its target market or consumers that is actually very important to do which turn into increase
customers base even better. Social media allows marketers to develop relevant and appropriate
content which should not all be profits focused and provide right type of consumer services
without making any kind of mistakes.
Szolnoki and et.al., (2018) stated that social media play vital role in term of gaining
attention of new buyers which is important and challenging work in recent time for marketing
team of entrepreneurial. Mostly it is very difficult task or act which requires extra attempts from
workers and organizational side. With social media channels such as Instagram, Facebook etc.
entrepreneurial can do similar thing but in cost and time effective manner. Furthermore, social
media is use to conduct marketing activities through which people could drive towards purchase
goods which in return increase sales even better. It play role in development of entrepreneurship
effective and make a businessman or owner capable to develop business even better and grow
successfully. It helps to manage internal activities and communication which turn into increase
productivity and improve performance. It can be said that this term is a database of human
capital that contributed in developing a social network with other entrepreneurial in ecosystem.
Shen and et.al., (2020) discussed that social media is one of the excellent and cost
effective marketing approaches or methods that help in development and excellent progress in

term of entrepreneurial. It is effective in term of developing and building brand awareness, but
also in form of retaining existing customers who can support and give contribution in
development and success of a company which is actually very essential in competitive world.
Moreover, entrepreneurial could use it in form of building consumer relation tool where
marketing team can take feedbacks and reviews from target market. They can ask questions and
communicate with them for gathering more info about his or her needs and preferences which
could help in development in term of gaining attention, retaining consumers and drive them
towards conduct word of mouth promotion which is really an amazing role that social media can
play. By taking feedbacks marketing team can assure people about firm concern towards its
buyers health and needs as well as valuable opinions.
CONCLUSION
It has been concluded that, Social media is an accessible and convenient way to measure
the performance of the company. Entrepreneurship significantly involves uncertainty and
innovation. Social network theory is prominent which helps in studying how the organization,
people and the group interact with one another within their own social network. Social media is
is useful because it provides real time performance analysis for the entrepreneurial firm.
Furthermore, from above discussion it has been summarized social media is playing vital role in
growth and success of entrepreneurial ecosystem as well as business as it help to gain
competitive advantages and increase profitability even better. It has been identified that by using
Facebook, Instagram and other social media channels companies successfully conduct marketing
efforts which bring a lot of benefits in return.

REFERENCES
Books and Journals
Almotairy, B., Abdullah, M. and Abbasi, R., 2020. The impact of social media adoption on
entrepreneurial ecosystem. Emerging Extended Reality Technologies for Industry 4.0:
Early Experiences with Conception, Design, Implementation, Evaluation and Deployment.
p.63.
Datta, K.S., Adkins, O. and Fitzsimmons, J.R., 2020. Entrepreneurship and social media
influencers in an Islamic context. In Understanding Social Media and
Entrepreneurship (pp. 121-139). Springer, Cham.
Kane, G.C., 2017. The evolutionary implications of social media for organizational knowledge
management. Information and organization. 27(1). pp.37-46.
Kim, B., Yoo, M. and Yang, W., 2020. Online engagement among restaurant customers: The
importance of enhancing flow for social media users. Journal of Hospitality & Tourism
Research. 44(2). pp.252-277.
Lackéus, M., 2017. Can scientific social media disrupt entrepreneurship research. Internal
working paper Chalmers University of Technology, Sweden.
Lou, C. and Yuan, S., 2019. Influencer marketing: how message value and credibility affect
consumer trust of branded content on social media. Journal of Interactive
Advertising. 19(1). pp.58-73.
Oladipo, O.G., Onaolapo, A.B. and Ekpenyong, U.E., 2020. The Role of Social Media in
Entrepreneurial Development: The Nigerian Perspective. Covenant Journal of
Entrepreneurship. 4(1).
Olanrewaju, A.S.T and et.al., 2020. Social media and entrepreneurship research: A literature
review. International Journal of Information Management.50. pp.90-110.
ROSHANDEL-ARBATANI, T.A.H.E.R and et.al., 2019. Modelling media entrepreneurship in
social media: SEM and MLP-ANN Approach. AD-minister, (34), pp.35-57.
Shen, C.W and et.al., 2020. Social media marketing of IT service companies: analysis using a
concept-linking mining approach. Industrial Marketing Management. 90. pp.593-604.
Szolnoki, G and et.al., 2018. Using social media for consumer interaction: An international
comparison of winery adoption and activity. Wine Economics and Policy. 7(2). pp.109-119.
Wang, W and et.al., 2020. Entrepreneurial entry: The role of social media. Technological
Forecasting and Social Change.161. p.120337.