The Role of Social Media in Entrepreneurship: a Conceptual Case Study

Authors

  • Iwona Lupa-Wójcik Uniwersytet Pedagogiczny im. Komisji Edukacji Narodowej w Krakowie Instytut Prawa i Ekonomii

DOI:

https://doi.org/10.24917/20833296.162.14

Keywords:

consumer decisions, economy, entrepreneurship, social media

Abstract

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.

Author Biography

Iwona Lupa-Wójcik, Uniwersytet Pedagogiczny im. Komisji Edukacji Narodowej w Krakowie Instytut Prawa i Ekonomii

Iwona Lupa-Wójcik, PhD in Economics in the discipline of management sciences, assistant professor at the Institute of Law and Economics, Pedagogical University of Krakow. She has many years of experience as an entrepreneur and entrepreneurial trainer. Her research interests include social media in marketing and management, entrepreneurship, strategic marketing management, as well as cooperation economics and sharing economy.

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Published

2020-12-25

How to Cite

Lupa-Wójcik, I. . (2020). The Role of Social Media in Entrepreneurship: a Conceptual Case Study. Entrepreneurship – Education, 16(2), 176–188. https://doi.org/10.24917/20833296.162.14