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Digital Entrepreneurship - Impact on Business and Society
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demand for apparel is a constant.”He adds, “stores inmalls are also closing, not because people stopped buying clothes, but because people are purchasing them throughonlineplatforms such asAliexpress.com.” John elaborates by saying, “one day,my family and I had gathered for a familymeeting, wherewe concluded that theLebanese economic situation hadbeen declining, negatively impacting our real estate business.” Thus, leaving their real estate business on hold, John and his family decided to come up with a new business venture. John suggested e-commerce, and the family board agreed. 2. Personal Connections/Family asOpportunities: Personal connections can be considered as part of social capital and can serve digital entrepreneurs during their journey. John ardently emphasizes the role of his personal connections in the process of setting up his business.He says, “had it not been formypersonal connections, Iwouldn’t have the number of vendors thatmy business has, norwould I have been able to equip relatively fastWi-Fi toLebMall as quickly as I did, through the help of my connections. It would’ve takenme a year.”His family’s reputationplayedanessential role inbuilding thoseconnections and on capitalizing on old connections. Therefore, John’s privileged position pro- vided him with sufïŹcient preceding social and ïŹnancial resources that overcome knowledge limitations to develop his entrepreneurial ideas. Familycanbe regardedas a sourceofboth social andïŹnancial capital.The level of trust among family members, as well as their moral and ïŹnancial support, beneïŹts digital entrepreneurs. Familywealth provides advantages in the launch of any typeofbusiness.For instance, Johnattributes the launchofLebMall.comtohis family’s tremendous supportwithïŹnancial resources. Johnmentions that the basis of his family profession is real estate.His family enterprise provided the necessary capital to launch LebMall.com; hence, he did not need to search for funding. He says, “if itweren’t formy family’s enterprise, LebMallwould’ve shut downby the end of the ïŹrst day.” 3. Weak Institutional Infrastructure as a Challenge: Johnemphasized theweak institutional infrastructure ofLebanon,which leaves the digital entrepreneur unprotected. In Lebanon, there isn’t a law or database that protects e-commerce. John says, “for example, if I losemy password, there is no backup.”Nobodycancomplain about themishapsor errors that occur in theonline world in Lebanon. Additionally, there is a lack of protection for consumers in e-commerce.He says, “if you receive a broken ormalfunctioning product, there is nothing you can do about it.” As a result of the absence of law for digital entrepreneurship, there isn’t a syndicate for e-commerce inLebanon. This absence indicates that there are no forces that can instill pressure on the government for the declarationof the rightsofdigital entrepreneurs, suchasprotection lawsor services. The founder was not hesitant to express the challenges he had faced along his process of launching LebMall. He states that these challenges range from cultural 292 G. Samara and J. Terzian
zurĂŒck zum  Buch Digital Entrepreneurship - Impact on Business and Society"
Digital Entrepreneurship Impact on Business and Society
Titel
Digital Entrepreneurship
Untertitel
Impact on Business and Society
Autoren
Mariusz Soltanifar
Mathew Hughes
Lutz Göcke
Verlag
Springer Verlag
Ort
Cham
Datum
2021
Sprache
englisch
Lizenz
CC BY 4.0
ISBN
978-3-030-53914-6
Abmessungen
16.0 x 24.0 cm
Seiten
340
Schlagwörter
Entrepreneurship, IT in Business, Innovation/Technology Management, Business and Management, Open Access, Digital transformation and entrepreneurship, ICT based business models
Kategorie
International
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