This paper explores how digitalization and development of critical literacies influence changes in entrepreneurs' information-seeking behavior, and how such changes in behavior directly influence the resource acquisition, bundling, and leveraging process, contributing to the development of personal and business competencies and growth. Building on the logic of resource-orchestration theory, this paper presents a systematic literature review covering 39 studies published between 1990 and 2020 that summarizes the current state and trends at the intersection of digitalization, the entrepreneurs' critical literacies, and information-seeking behavior. The review results reveal three main streams of research including (i) digitalization and entrepreneurs' ICT adoption, (ii) entrepreneurs and critical literacies, and (iii) entrepreneurs' information-seeking behavior. Based on the review results that reflect a fragmented status quo of entrepreneurship research, we develop a holistic framework and outline future research directions for entrepreneurship. This research expands the traditional boundaries of entrepreneurship research by considering the implications of entrepreneurs' critical literacies and their information behavior on resource orchestration process. The findings provide practical implications indicating the need to address the key challenges of entrepreneurs in a fast-changing and interconnected business environment.
Internet-based applications, such as social media -offer potentially effective and efficient vehicles to access, use and distribute information as well as means to network with other actors. However, for realizing this potential, critical competencies are information and digital literacy. In this chapter we discuss the importance of information literacy (IL) in the context of social media. Information literacy is defined as cognitive skills necessary for using and evaluating information in an educated and effective way. IL is a necessary competence for entrepreneurs in general and specifically for entrepreneurs relying entirely or partially on social media in their entrepreneurial activities. We argue that access and use of information is an important way for entrepreneurs to reduce uncertainty in their entrepreneurial action. Information literacy and information source selection are important to practicing entrepreneurs as most need to access information in order to run their business; information from policy makers, financing institutions, tax authorities and legal counsel to name a few. This information is today inherently provided in digital format.In this chapter our focus is on digital information and specifically digital source selection and information literacy. We have studied 145 Finnish entrepreneurs and analyzed their information literacy in relation to digital source selection. Results show that while information literacy impact digital information source selection, that relationship is influenced by source accessibility and the task complexity. Interestingly, and somewhat unexpectedly the study revealed that source selection is directly influenced by the opinions of peers or social norms.
Research BackgroundThe widespread of digitalization, especially for online search engines, has a significant impact on how entrepreneurs access information (Muhamad et al., 2018). Business owners use the Internet and digital devices to seek, retrieve, learn, share, and use the information for conducting day-to-day business activities. Despite the popularity of digital information sources, current
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 decisionmaking 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.
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