SOCIAL MEDIA ENTREPRENEURSHIP AND EMPLOYMENT CREATION(A STUDY OF LINDA IKEJI BLOG)

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

With the increase in the number of internet users, the use of social media has grown over the past decade. And the usage has progressively grown from individuals to businesses. Many organizations today proactively use social media as a vehicle to reach out to millions of prospective and repeat customers. Social media has revolutionized business the world over; albeit at different levels in different parts of the world. According to the latest statistics by the global web index, over 42% of the world’s population is connected to the internet and more than three billion users worldwide use social media. According to Facebook (2016), more than three million businesses are actively advertising on it and more than fifty million small businesses are using free pages on their platform. The number of Internet users in Nigeria grew by a 32.9 per cent to stand at 29.6 million, meaning more than half of the population has access to the Internet (Communications Authority, 2016). This has been made possible through mobile phone internet penetration (global web index, 2016). The 21st century has seen a shift in the way businesses market their products and services.

Businesses in the service industry, such as hospitality, tourism, banks and telecommunication that engage in constant communication with guests are drastically changing their marketing strategies by choosing this new age interactive media over traditional practices of marketing and public relations (Seth,2014). Social media sometimes referred to as social networking and Web 2.0 refers to collaboratively produced and shared media content and to network communities.

The users of social media have the ability of sharing their views and encounters. This assists in creativity, open communication and sharing of knowledge among users (Tapscott and Williams, 2008). Owing to of the flexibility of social networking tools, businesses can realize different benefits. These according to Smith and Taylor, (2004) are greater  access  to  different  audiences,  improved  customer  service,  improved  products  and  services  and adoption of favorable pricing practices (Jagongo and Kinyua, 2013). Social networking allows businesses to gain access to resources that might otherwise not be available to them. It can also aid the development of a firm’s worthiness, increase the customer and supplier contacts, and bring to light where resources and funding are available, promote innovation, and help in the cultivation of strategic partnerships (Zontanos and Anderson, 2004). In agreement with these sentiments are Jaokar, Jacobs, Moore and Ahvenainen (2009) who posit that the internet has brought about several new elements for instance; it has made consumers more accessible, it has emerged with a completely new set of communication tools that make the process of exchanging information much easier and faster, and it has compelled companies to rethink how they are communicating with their customers (Jagongo and Kinyua, 2013).

Entrepreneurs, marketers, and consumers are witnessing the appearance of virtual social media. Many businesses are now turning to social networks as a  worthwhile communication tool and,  if used adequately, they  can significantly improve their online presence, in the form of effective promotion. To achieve success with the online marketing,  the  marketers  need  to  have  a  presence  in  the  environment  that  their  customers  inhabit.  Mark Zukerberg, co-founder of Facebook supports this by saying that advertising is fast changing and businesses need to understand the usage of Internet technologies in order to remain relevant (Maymann, 2008). As there are low barriers to the use of social networking technologies, small businesses can make use of social media in the same ways that large corporate can, without the need for extensive resources.

1.2 STATEMENT OF PROBLEMS

Social media entrepreneurship is a very powerful thing. Social networking can be an excellent way to acquire new customers and retain existing ones. The real challenge lies in the way to engage with the audience on a personal level. Social networking sites can build online groups around various companies, where clients and prospective customers can interact with like-minded individuals. These groups provide valuable insights, plus useful feedback that help the marketers improve their products to suit the needs of their customers. This important feedback can assist in advancing their marketing efforts, and the general brand values their company projects. The use of social media as a marketing tool allows companies to mingle with fellow professionals in the field, conduct research, connect with the community, and get business opportunities. Social networking has led to the introduction of social media marketing and presented new ways of communicating to expanse audiences on various Internet platforms. Marketers can no longer rely on mass media channels alone to communicate with their consumers. They must adopt new strategies if they wish to succeed.

1.3 OBJECTIVES OF THE STUDY

The main objective of the study is to examine social media entrepreneurship as a tool for employment generation. The specific objectives are as follows:

1. To examines the relationship between social vision and employment generation.
2. To examine the relationship between Social network and employment generation

iii. To examine the relationship between Innovation and employment generation.

1.4 RESEARCH QUESTIONS

The following research question will guide the researcher:

1. To what extent does social vision associate with employment generation?
2. What is the relationship between Social network and employment generation?

iii. What is the extent to which Innovation influence employment generation?

1.5 SIGNIFICANCE OF THE STUDY

One of the main reasons this study is being conducted is because society’s expectation on social media entrepreneurship effort will be improved in gaining momentum and fast becoming a standard practice. However, in order for Social media entrepreneurship to be effective to bring value to the people (such as improving their employment opportunities), the society’ will have a deeper insight to the benefit of Social media entrepreneurship.

This study is also significant because it will be able to unveil the roles of social media entrepreneurship on employment p creation to the various employees, stakeholders, mangers, scholars etc.

1.6 SCOPE OF THE STUDY

The study examines the relationship between social media entrepreneurship and employment creation. The study limits scope to to Linda Ikeji Blog.

1.7 LIMITATIONS OF THE STUDY

The followings are limitations to the research work.

Finance: Accessing fund for the research work as difficult and this to a great extent limited the quality of research activity.

Time: The time allocated to the research work was not sufficient to give room for further intensive work on the field of study.

Organization Policy: Policies of some of the organizations visited limited the level of information received. The personnel of the firms were not willing to give information, stating that it was against the organization’s policy.

1.8 DEFINITION OF TERMS

There is need for every work in a research proposal and of course in any research report to be clear as to its meaning, since words have different meaning in different context.

Employment Creation: It is the process of providing new jobs, especially for people who are unemployed.

Employment:  The state of having paid work.

Media: It is is the collective communication outlets or tools that are used to store and deliver information or data.

Social Media: It is usually used to describe social networking sites such as: Facebook an online social networking site that allows users to create their personal profiles, share photos and videos, and communicate with other users.

Social:     Relating to society or its organization.