The Role of Social Media in Entrepreneurship: a Conceptual Case Study
DOI:
https://doi.org/10.24917/20833296.162.14Keywords:
consumer decisions, economy, entrepreneurship, social mediaAbstract
The growing importance of social media in entrepreneurship has been observed for a long time already. Their impact is multidimensional and applies to all sectors: private, public and non-governmental. This article focuses on selected entrepreneurship aspects, and it aims to determine the role of social media in entrepreneurship based on selected issues with particular reference to the functioning of enterprises and influencing consumer behaviour. The author has considered the impact of social media on businesses and consumer behaviour. It was determined how social media enable enterprises to interact with consumers and affect demand and supply, including the phenomenon of prosumption. Thus, it can be assumed that social media influence economic equilibrium. Besides, social media allow the optimisation of operating costs and enable more efficient use of resources. They also have a real impact on consumer decisions. As a research method, an in-depth analysis of secondary data available in the literature was used. The article includes theoretical discussion supported by the research of other writers in the literature relating to the issue analysed. The analysis has shown the significant role of social media in the business entrepreneurship economy.
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