The role of social network for entrepreneurship success : a proposed model

– A thorough understanding of the entrepreneurial process and attributes of followers in a social network is very important for entrepreneurship success. Many scholars increasingly acknowledged that entrepreneurial activity is embedded in network relationships that direct resource flows to entrepreneurs who are somehow connected. Many literatures indicate that the resources which entrepreneurs may access through their personal networks, allows them to identify opportunities, mobilize resources, and build legitimacy for their firms. Thus, the present study aims to propose a model for entrepreneurship that aligns with the role of social networks, knowledge management and innovation. The model proposed will integrates both process issues and level issues in explaining differential effectiveness in launching, managing, and exiting a new firm. The present study is significant in contributing to the new body of knowledge in the area of entrepreneurship, social network and competency theory. Furthermore the new model proposed will practically assist a new start-up business to strategize.