Competitiveness of Entrepreneurs

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CHAPTER 1

INTRODUCTION

According to Boyd and Ellison (2008), we define social network sites as web-based services that allow individuals to (1) construct a public or semi-public profile within a bounded system, (2) articulate a list of other users with whom they share a connection, and (3) view and traverse their list of connections and those made by others within the system. The nature and nomenclature of these connections may vary from site to site. Social networking site (SNS) connects and presents people based on information gathered about them, as stored in their user profiles. These user profiles determine the way in which users are able to present themselves to others. The most important distinguishing factor between the various sites is the range of profile information that they store and can perform operations on. People are making full use of these social networking sites for personal and professional use, communications, new business developments and contacts, dating and meeting offline without the three dimensional interpersonal communication. They make use of an easy and efficient way to build and manage their offline social networks online. Communities can be better informed more quickly through online social networking, and become more engaged and involved with one another in an era when social capital is on the decline. The development of this new social and business infrastructure has motivated more people to join up with a specific aim in mind. (Murchu et al., 2004) A good social network is considered as a helpful resource for the companies. In entrepreneurship, social networking is considered as an important tool for business enhancement (Lechner Dowling, 2003). The strong argument is that network connections and structure facilitate the flow of information and create the mutual trust and cooperation (Kwanghui and Brain, 2010). Zafar, Yasin, and Ijaz (2011) stressed that it is believed that social...
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