Impact of Social Media on the Success of Technological Entrepreneurial Ventures

Abstract

Business methods and practices have changed due to advancement in technology. The tools of technology have brought a paradigm shift in the business techniques. Social media has now become a significant factor for the entrepreneurs for entrepreneurial growth and development. The study discusses the impact of Social Media on the success of technological entrepreneurial ventures in Pakistan. Entrepreneurial success is dependent on uniqueness, innovation and adoption of new methods for survival. Social media is a powerful medium which influences the business and lives these days. Survey based study is carried out to collect the data from entrepreneurial ventures through in-person filled questionnaires to infer the results of research. The sample of research includes the entrepreneurial ventures of software industry in Pakistan. The research studies the impact of social media practices of marketing, branding, networking and communication on the entrepreneurial success. Statistical analysis of correlation and regression is performed on the data to study the association between success and social media. The results show that strong impact of social media is found on the success of entrepreneurial ventures. The strongest significant relationship is found between social media communication and networking with the technological entrepreneurial growth and success. The study reflects the importance of social media in business growth. Social media is an effective and efficient tool for the promotion and success of business. Social media acts the basic strategic factor of entrepreneurship. Social media can help in the value creation and innovation process of entrepreneurial ventures.