World conference on entrepeneurship 2014
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Entrepreneurs use Twitter to develop weak ties outside their normal networks, which can provide new knowledge and opportunities. A study found entrepreneurs use Twitter for making time and scheduling assistance as well as social sharing. Developing effectual thinking allows entrepreneurs to better leverage unanticipated opportunities from their Twitter networks. Next steps include running workshops on effectual thinking and training start-ups to develop flexible strategies responsive to contingencies outside their control.
World conference on entrepeneurship 2014
- 1. How Twitter affects Entrepreneurs’ effectual thinking and behaviour Jane Leonard Cork Institute of Technology @cit_business Really Useful Training and Development @really_useful
- 2. Sarasvathy
- 3. Focus on Entrepreneurship in terms of decision making and knowledge structures
- 4. Twitter
- 6. Do Entrepreneurs use Twitter?
- 7. What I did Strong Ties Family, friends Weak Ties Not related or known to each other
- 10. Making time and scheduling
- 11. Social sharing
- 12. Why is this important
- 13. Next Steps • Run effectual workshops • Train start-ups in effectual thinking • Work with employees to develop effectual thinking
- 14. Thanks • Thanks to CIT for supporting research • Thanks to entrepreneurs for sharing their experiences
Editor's Notes
- #2: Entrepreneurs are they born or are they made
- #3: Sarasvathy’s research on expert entrepreneurs helped her to develop the concept of effectual thinking
- #4: The start-up phase of a new company is one of the most "uncertain" and unpredictable situations a business person can be in. For many start ups it is chaotic, frustrating exciting, surprising, and the future is unknown. Expert entrepreneurs figure out ways to persevere and deal with this uncertainty. Many do not attend business schools or develop business plans. Sarasvathy’s research suggests that they do not like market research
- #5: Titter is a micro blogging site that allows a many to many communication.
- #6: Many people think that Twitter is all about broadcast or one way messages. This has not been my experience in my interactions and in my research. Most people share valuable information or seek to help each other
- #8: I spoke to people who had different levels of experience in starting companies How they think and how they solve problems I listened and looked for the five principles of effectuation. I saw the impact of networks. The difference between and strong and weak ties
- #9: Twitter allows users to convert weak ties into strong ties as people build on the online relationship and develop an off line relationship.
- #10: Twitter allows the users to have experts or help on tap.
- #11: One of the main princples of effectual thinking is affordable loss. People decide how much time they can devote to this instead of something else.
- #13: Being an entrepreneur is hard, it is often a lonely role. Family friends and fools may not not really understand what we are trying to achieve. Any support from a variety of sources can make the difference.