Entrepreneur Literature Review

LITERATURE REVIEW

This chapter presents a literature review and hypotheses development. It will begin with the review of literature related to the main concepts employed in this study, including which are entrepreneurship, social media, using social media in customer relationship management, and using social media in networking. In addition, the reviewa number of key theories, including the resource-based view theory, the upper echelon theory, the corporate strategy and organizational isomorphism theory, will be reviewed. Then, the detailed investigation of the relationships between the concepts will be presented in the hypothesis development section.

2.1 Entrepreneurship

The word entrepreneur originated in France as early as the 16th

However, in every year, many more new businesses either face with success or failure, once they found that the invesment is not the one major factor, but competence of each entrepreneur and style matters instead. Boyatzis (1982) stated that a competence is an underlying characteristic of a person which consists of an effective mix of motives, traits, skills, aspects of one’s self-image or social role, or body of knowledge used by an individual. Given the complexity of today’s business environment in the new media age, one of the important competencies of the entrepreneur is technology skill. Scholars have previously suggested that the one particularly skill that entrepreneurs need to progress the business with would be the technology skill. Danneels (2002) indicated that for an innovative product to be successful, the product innovation for a company must link technological skills, such as technology competence and process know-how, with customer competence such as knowledge of customer

Schaupp and Belanger (2014) mentioned the importance of social media in business that the companies are implementing social media for marketing, advertising, employee recruitment, and overall communications with employees, clients, and partners. Large global organizations’ recruiting operations use social media to advertise positions (Doherty, 2010) and screen applicants (Slovensky & Ross, 2012). Marketing and advertising are the most widely recognized tools used as social media for all organizations, both large and small (Askool & Nakata, 2011). Schaupp and Belanger (2014) suggested that each business can communicate and share the useful information between each organization through social media. Furthermore, Vongkaewpothong (2010) argued that in Thailand social media is now in the internet consumption era of both broadband internet wire and wireless, including the mobile internet which made the internet user number around the world to be more than 1,900 million3.2 billion (according to http://www.itu.int/net/pressoffice/press_releases/2015/17.aspx#.VWSF32Bjq-Q) people. The result is that businesses presently need to adjust and change their business strategy for the business by using the social media to enhance the potential of the business