The Role of Social Media and Innovation in Mexican Industrial Entrepreneurship

Abstract

The main goal of this work is to provide insights on the combined influence of social media and innovation on industrial entrepreneurship in Mexico. To do this, we study the meaning of social networks and innovation in products and processes and their joint impact on industrial entrepreneurship by developing a structural equation model (sem) that shows the relationships between these three variables, using a hypothesis-based approach that demonstrates their close relationship in the creation of social value. The indices of goodness and fit were used to evaluate the sem, showing satisfactory results. One of the key findings of this study is the use of social networks, such as Facebook, WhatsApp, Instagram, and Twitter, among others, as digital marketing tools that allow increasing market share and achieving return on investment by diversifying products and services and signaling new business opportunities.