Effectual Entrepreneur and the Use of Social Media for Opportunity Recognition
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Social media have been perceived as the variety of online communication platforms that stimulate interaction in virtual communities. Existing studies have been found in manifesting the benefits of using social media for business-related purposes. Despite the emerging acceptance of these online communication platforms, few studies have explored social media in the context of entrepreneurship. This chapter, therefore, aims at providing an extended discussion of an entrepreneur’s use of social media, through the lens of the effectuation theory. We argue and propose that effectual entrepreneurs could benefit from using social media as it would influence the level of opportunity recognition. In addition, we discuss the contingent relationship between social media usage and various effectual attributes—affordable loss, entrepreneurial passion, and entrepreneurial self-efficacy—toward opportunity recognition. The conceptual framework from this chapter can be used as a foundation for future social media studies in the context of entrepreneurship.
KeywordsCommunication platforms Effectuation Social media Opportunity recognition
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