The Impact of Digitalisation and Entrepreneurial Networks on Business Strategy Development-a Media Richness Theory Approach

Conference paper (2022)

Authors

Thao Orrensalo Åbo Akademi University
Maedeh Ghorbanian Zolbin Åbo Akademi University
S. Nikou Stockholm University
Affiliation
External organisation
More Info
expand_more

Published Date

2022

Language

English

Reuse Rights

Other than for strictly personal use, it is not permitted to download, forward or distribute the text or part of it, without the consent of the author(s) and/or copyright holder(s), unless the work is under an open content license such as Creative Commons.

Affiliation

External organisation

Abstract

In the digital-based economy, digitalisation, entrepreneurial networks, and business strategy are three important interdependent components of entrepreneurship process. Accurate, reliable, and timely information is also vital to effective decision-making of the entrepreneurs. Often, owing to limitations in their resources and capabilities, entrepreneurs rely on their entrepreneurial networks to satisfy their information need. The core objective of this paper is to examine the use of information in business strategy development and assess the role of entrepreneurial networks as information sources. The theoretical lens used in this narrative literature review is media richness theory. The findings of this paper show that entrepreneurial networks significantly influence entrepreneurial success and survival, and that access to accurate and timely information enhances business strategy development.