Social Media: Exploring Entrepreneurial Opportunities

Abstract

The main purpose of this chapter is to review entrepreneurial opportunities presented by the social media. Although it grew over time and became a part of a business strategy, social media is still used mostly for communication purposes. Other areas of business transactions can gain from the social media as well. Creating value for customers, changing business models, and the environment in which a company operates are among those areas that are being overlooked by entrepreneurs. Businesses might see only the most visible part of the social media – online presence and marketing communication. However, there is more to social media than just online communication.