Abstract

Author:
Md Nafis Fuad, Avishek Nath, Tausif AL Haque, Sharmin Ara Chowdhury

Doi: 10.26480/bosoc.01.2024.22.26

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

This qualitative research delves into the intricate interplay between social networks, technology adoption, and entrepreneurial success. By conducting in-depth interviews and thematic analysis, this study aims to illuminate the mechanisms through which social networks influence the adoption of technology among entrepreneurs and subsequently contribute to their success. The findings underscore the significance of social capital, information sharing, and network structure in shaping entrepreneurial decisions and outcomes in the digital age. Entrepreneurs leverage their social networks as sources of information, resources, and collaboration opportunities, tapping into the collective intelligence and support of their peers, mentors, and industry contacts. Network diversity, centrality, and connectivity emerge as critical factors influencing entrepreneurial decisions and outcomes, enabling entrepreneurs to access valuable resources, forge strategic partnerships, and position themselves within entrepreneurial ecosystems. Moreover, the advent of digital platforms and online communities has transformed the dynamics of social networks, providing entrepreneurs with unprecedented opportunities for global connectivity and collaboration. However, challenges such as information overload, algorithmic biases, and privacy concerns underscore the need for strategic navigation of digital networking platforms. Implications for practice include promoting diversity and inclusivity within entrepreneurial ecosystems, fostering networking skills through entrepreneurship education programs, and encouraging proactive engagement with social networks among entrepreneurs. Furthermore, future research directions include longitudinal studies to explore the dynamics of social networks over time, comparative studies across different cultural contexts, and interdisciplinary research efforts to integrate insights from diverse fields. Overall, this study contributes to a deeper understanding of how social networks shape technology adoption and entrepreneurial success in the digital age, offering valuable insights for policymakers, educators, ecosystem enablers, and entrepreneurs themselves.