CHAPTER ONE:

1.1  Background To The Study

The concept “social media” is used to define group interactive communication”. The “group” in this definition represents “social” content of the definition. According Suomen Toivo–Think Tank (2012), social media constitute a kind of current information network and information technology in which interactive communication emanates in which the user produces the content of information and proceeded by the establishment and maintenance of interpersonal relationships. A social media services include content sharing, web communities, or an Internet forum (Sanastokeskus, 2010). According to Kaplan and Heinlein (2010), social media facilitates the generation and exchange of information of its content. Therefore the users are active in the formation and exchange of information rather than being passive (Sweeter and Laricsy, 2008).  The various types of social media include Facebook, Twitter, YouTube, Google+, MySpace, Skype, Instagram, Flipagram, what Sapp, 2go, and BBM.

 According to Suomen Toivo- Think Tank (2012), the advantages of social media consist of openness, collaboration, social networking and social interaction, participation. The research therefore seek to conduct an appraisal of “Assessing the effectiveness of social media entrepreneurship in our contemporary business society"

1.2  Statement of the Problem

The social provides a social platform for interactive communication and information exchanges and has exacted great influences among social groups and the society at large. Considering the huge traffic of people on the platform it has become an easy means to disseminate information to the public. However it is pertinent to note that the adverse effect of the social media is greatly destructive especially on the image and brand of product or service or on a firm, individual or group of individual. This because information on the social media is unregulated and could sometime be biased and presumptuous. Also the number of bloggers is uncontrolled and unregulated thereby posing great danger for the dissemination of wrong informations.The problem confronting the research is to proffer an appraisal of "Assessing the effectiveness of social media entrepreneurship in our contemporary business society"

1.3  Objectives of the Study

To determine the effectiveness of social media entrepreneurship in our contemporary business society"

“Social media” is used to define group interactive communication”. The “group” in this definition represents “social” content of the definition. According Suomen Toivo–Think Tank (2012), social media constitute a kind of current information network and information technology in which interactive communication emanates in which the user produces the content of information and proceeded by the establishment and maintenance of interpersonal relationships. A social media services include content sharing, web communities, or an Internet forum (Sanastokeskus, 2010). According to Kaplan and Heinlein (2010), social media facilitates the generation and exchange of information of its content. Therefore the users are active in the formation and exchange of information rather than being passive (Sweeter and Laricsy, 2008). 

The various types of social media include Facebook, Twitter, YouTube, Google+, MySpace, Skype, Instagram, Flipagram, what Sapp, 2go, and BBM. According to Suomen Toivo- Think Tank (2012), the advantages of social media consist of openness, collaboration, social networking and social interaction, participation.

1.4  Research Questions

What is social media entrepreneurship?

What is the effect of social media in contemporary society?

1.5  Significance of the Study

The research seek to "Assess the effectiveness of social media entrepreneurship in our contemporary business society"

A social media services include content sharing, web communities, or an Internet forum (Sanastokeskus, 2010). According to Kaplan and Heinlein (2010), social media facilitates the generation and exchange of information of its content. Therefore the users are active in the formation and exchange of information rather than being passive (Sweeter and Laricsy, 2008). 

The various types of social media include Facebook, Twitter, YouTube, Google+, MySpace, Skype, Instagram, Flipagram, what Sapp, 2go, and BBM.

 According to Suomen Toivo- Think Tank (2012), the advantages of social media consist of openness, collaboration, social networking and social

1.6  Research Hypothesis

Ho "The effectiveness of social media entrepreneurship in our contemporary business society is Low

Hi “The effectiveness of social media entrepreneurship in our contemporary business society is high

1.7  Scope of the Study

The study focuses on assessing the effectiveness of social media entrepreneurship in our contemporary business society

1.8  Limitations of the Study

Geographical constraint and logistics were encountered in the conduct of the research.

1.9  Definition of Terms

SOCIAL MEDIA DEFINED

The concept “social media” is used to define group interactive communication”. The “group” in this definition represents “social” content of the definition. According Suomen Toivo–Think Tank (2012), social media constitute a kind of current information network and information technology in which interactive communication emanates in which the user produces the content of information and proceeded by the establishment and maintenance of interpersonal relationships.

References

Afrobarometer (2015). “Nigerian Heads for Closest Election on Record, survey shows”.www.afrobarometer.org/files/documents/press_release/ng_r6_Pr_elections.pdf. Lagos: Afrobarometer. Retrieved by Wikipedia

.

Buildup Nigeria Poll (2015) “2015 Presidential Elections”. buildupnigeria.com/2014/10/16/buildup-nigeria-poll-2015-presidential-elections/. Buildupnigeria.com. 16 October, 2014. Retrieved by Wikipedia.

Collin, P., Rahilly, K., Richardson, I., and Third, A. (2011) The Benefits of Social Networking Services: A Literature Review. Melbourne: Cooperative Research Centre for Young People, Technology, and Wellbeing.

INEC (2015). “2015 Presidential Election March 28, 2015: Summary of Results”. Abuja: INEC.

Nigeria FM (2015) “NFR Poll: Buhari Open Wide Margin Lead against Jonathan, the Osibanjo Factor‟‟ www.nigerianff.com/nfr-pol-buhari-opens-wide-margin-lead-against-jonathan-the-osibanjo-factor-vote-now-nigerians-overseas-not-eligible-days/. Retrieved by Wikipedia.

Nigeria Eye (2015) “Nigerian eye Opinion Poll. Who Will Win the February 14 Presidential Elections?”www.nigerianeye.com/2015/01/nigeriaeye-opinion-poll-who-will-win.html.nigeriaeye 20 January, 2015. Retrieved by Wikipedia.

Policy and Legal Advocacy Centre (2012) Social Media and the 2011 Elections in Nigeria. PLAC.

Sahara Reporters (2015) “Nigerian Election Poll”. epoll.me/vote/AcRosLPAohI/Schara-reporter/if-the-2015-nigerian-presidential-election-were-held-today-with-president-jonathan-as-the-pdp-candidate-and-muhammadu-buhari-as-the-apc-candidate-who-do-you-think-would-win-why. Epoll.me. Retrieved by Wikipedia.

Suomen Toivo- Think Tank (2012). Social Media- The New Power of Political Influence. Helsinki: Centre for European Studies.