THE ROLE OF DIGITAL (SOCIAL) MEDIA IN THE MANAGEMENT OF INNOVATION PROJECTS AT THE COMPANY AND SELF-EMPLOYMENT LEVELS

Abstract

The study of the impact of digital social media on the development of entrepreneurial innovation projects of different levels is topical. The aim of the study was to create a conceptual approach to assessing the impact of digital social media on innovative business development, regardless of the legal form of organization. Therefore, a new concept of mediatization was identified in the course of the research, which describes the role of different digital media as part of the process of communicative construction of the economic, social and cultural environment. The research involved the methodology for data analysis from an empirical context. The start-up incubator — Neudali, Germany — was the practical background of the research. The research sample included all start-ups (innovative projects) that were launched in 2017-2020 (3,426 projects), regardless of whether they continue as start-ups or have already entered the serial production stage. The research objective was fulfilled through the methods and tools of economic and statistical analysis, forecasting and business simulation. Studies have confirmed that the legal form of organization does not affect the project’s success, but only the assessment of information effects (mediatization effect) does, which includes all forms of communication in social networks (R2=0.8 for companies and R2=0.6 for self-employed persons). In theoretical terms, this study has bridged the gap in the literature regarding the lack of research on the role of social media in the innovation potential of both companies and self-employed individuals. In practical terms, this research has implications for various stakeholders, primarily businesses, academics and consumers.