Role of internet in determining the success of business – Term Paper

Introduction

It isEntrepreneurship is a process which ensures a success of every business in their everyday activities.  an approach where an entrepreneur combine the necessary factors of production (labor, capital, entrepreneur) to achieve the set objectives of a firm. The Internet and other Internet related features such as ads, plugins, wiglets and other features play a significant role in determining the failure or success of entrepreneurial ideas and their appropriate implementation (Desai, 2008). The uses of internet have helped to lower the cost of starting businesses and acts as a best practice for benchmarking. Besides, it helps entrepreneurs to easily outsource labor, streamline logistics, and provides quick and immediate feedback about the demands of the products in the market as well as creating an avenue for marketing (Desai, 2008). Therefore, in the research proposal, the researcher aims at defining the role of the internet in determining the success of entrepreneurs. The literature review is provided to appreciate what others have done about the topic, and proper methodology is given to provide users with detailed information on how the researcher obtained data and carried out an analysis to arrive at a proper conclusion.

Research Objectives

• To determine the role of internet in determining entrepreneurial success.

• To define the methods used to ensure the success is attained without constraints.

Research questions

• What is the role of the internet in determining entrepreneurial success?

• What are some of the methods used to ensure these successes is attained without constraints?

Statement of the problem

Despite a growth in the use of Internet in various business aspects, a limited number of researchers have put emphasis on determining the role it plays in helping the entrepreneurs to combine the necessary factors of production to ensure business success. According to Richard Cantilion, (2000), it is entrepreneurial skills coupled with the internet use determines the economic conditions of a nation. It can thus be evident that internet can play some role in the determination of the economic trends of the society. 

Research Methodology

In the study, the research designs which comprise of quantitative and qualitative approaches are to be used. The data is to be obtained from both secondary and primary sources where a random sampling will be used to obtain 30 samples from the population of study. Besides, the analysis to provide the descriptive and summary statistics is to be done by the use of Stata software to aid in data analysis and interpretations (Ketchen & Bergh, 2006).

Literature Review

In the literature review, various theories and empirical studies from the previous research on entrepreneurship in connection to the internet are discussed. These include the economic theory, innovation theory of Schumpeter, and Hagen theory of entrepreneurship. Besides, it clarifies an historical background of entrepreneurship which discloses its features over the years to include innovation, functions of high achievement, teamwork, building an organization, enhancement of managerial skills and leadership, and indulgence in gap filling activity.

Research Constraints

The primary constraints of the research are as follows:

• Insufficient data from the entrepreneurs since most of the entrepreneurs consider their information very vital, private and confidential hence are not ready to disclose to anyone.

• There is a financial constraint since it involves travelling from one region to another and purchase of research materials which are expensive.

• The time frame for collecting data, sorting, and coding them in a manner ready for analysis was quite limited.

References

Desai, V. 2008. Fundamentals of Entrepreneurship and Small Business Management. Mumbai: Global Media.

Futter, V., Cion, J. A., Overton, G. W., American Bar Association, & American Society of Corporate Secretaries. 2002. Nonprofit governance and management. Chicago, IL: Section of Business Law, American Bar Association.

Ketchen, D. J., & Bergh, D. D. 2006. Research methodology in strategy and management. Amsterdam: Elsevier JAI.

Teagarden, M. B., Pashtenko, V. H., Ahmed, Z. U., Richard C., Abdul, R. C., Nor, H. A., Mohd, Z. A., … Academy for Global Business Advancement. 2009. Advances in global business research. Rockwall, TX: Academy for Global Business Advancement.