Factors influencing social media adoption in vietnamese mses

VIETNAM NATIONAL UNIVERSITY, HANOI VIETNAM JAPAN UNIVERSITY NGUYEN TRONG TUNG FACTORS INFLUENCING SOCIAL MEDIA ADOPTION IN VIETNAMESE MSES MASTER'S THESIS BUSINESS ADMINISTRATION Hanoi, 2018 VIETNAM NATIONAL UNIVERSITY, HANOI VIETNAM JAPAN UNIVERSITY NGUYEN TRONG TUNG FACTORS INFLUENCING SOCIAL MEDIA ADOPTION IN VIETNAMESE MSES MASTER’S THESIS MAJOR: BUSINESS ADMINISTRATION CODE: 60340102 RESEARCH SUPERVISORS: DR PHAM THI LIEN ASSOC PROF DR KODO YOKOZAWA Hanoi, 2018 TABLE OF CONTENTS CHAPTER INTRODUCTION 1.1 Research background 1.2 Research context 1.3 Micro small sized enterprises in Vietnam 1.4 Research objective and research questions CHAPTER LITERATURE REVIEW 2.1 Social media 2.2 Social media for SMEs 2.2.1 The benefits of social media in corporate context 2.2.2 The challenges of social media in corporate context 2.3 TAM theory and social media adoption 10 2.4 Factors influencing social media adoption in business context 11 2.4.1 Employees‘ social media knowledge 12 2.4.2 Perceived of usefulness 13 2.4.3 External pressure from competitors 14 2.5 Gap analysis 14 CHAPTER RESEARCH MODEL 16 3.1 Hypotheses 16 3.2 Proposed research model 17 CHAPTER METHODOLOGY 18 4.1 Sample criteria 18 4.2 Variable measurement 19 4.3 Research data collection process 22 CHAPTER DATA ANALYSIS, RESULTS AND DISCUSSION 24 5.1 Sample Characteristics 24 5.1.1 Social media Adoption Distribution 24 5.1.2 Gender Distribution 24 5.1.3 Sector Distribution 25 5.1.4 Social Media Platform 26 5.1.5 Frequency of social media use 26 5.1.6 Personnel working on social media 27 5.2 Data Analysis 27 5.3 Results and discussion 35 CHAPTER LIMITATION AND FUTURE RESEARCH 38 CHAPTER CONCLUSION AND IMPLICATION 40 REFERENCES 42 APPENDIX .51 LIST OF TABLES Table 1.1: Micro, small and medium sized enterprises in Vietnam Applied since 11/3/2018……………………………………………………………………………3 Table 4.1: Description item list………………………………………… .…… 20 Table 5.1 a: Reliability statistics Analysis………………………… .………….27 Table 5.1 b: Items statistics……………………………………………… ………28 Table 5.2: The Rotated Component Matrix……………………………………… 30 Table 5.3: The Component Matrix…… ………………………………………….31 Table 5.4: Model summary………………………………… ……………………32 Table 5.5: ANOVA facts…………………………………… ………………… 32 Table 5.6: Coefficients…………………………………………………………… 33 LIST OF FIGURES Figure 5.1: Social media Adoption Distribution……… …………………………23 Figure 5.2: Gender Distribution…………………………… …………………….24 Figure 5.3: Sector Distribution……………………………… ………………… 24 Figure 5.4: Social media platform………………………………………………….25 Figure 5.5: Frequency of social media use…………………………………………25 Figure 5.6: Personnel working on social media………… ……………………….26 ACRONYMS TABLE Abbreviation Full term/Meaning ANT Actor Network Theory CEOs Chief Executive Officers EC E-Commerce EFA Explanation Factor Analysis e.g for example GDP Gross Domestic Product i.e that is to say IT Information Technology MSEs Micro, Small-Sized Enterprises MSMEs Micro, Small, Medium-Sized Enterprises No Number NQ-CP Vietnamese government‘s resolution (followed by number) PB Perceived of Benefit PC Perceived of Credibility PE Perceived of Enjoyment PEU Perceived Ease of Use PP Perceived of Playfulness PU Perceived of Usefulness SMEs Small and Medium Sized Enterprises SPSS Statistical Product and Services Solutions software from IBM Inc TAM Technology Acceptance Model TOE Technology; Organisation and Environment UTAUT Unified Theory of Acceptance and Use of Technology VND Vietnamdong ABSTRACT Social media has been a phenomenon in cyber world and plays an essential role for companies all over the business world Understanding the factors influencing social media adoption, managers are capable to make timely good decisions, thereby, reducing the cost of marketing, optimize staffing and personnel, save time, therefore, generate and accelerate competitive advantages The competitive advantages gained through using social media are particularly important for small and medium-sized enterprises which are financially constrained and have limited commercial experience This research examines factors influencing social media adoption within Vietnamese business context The findings indicate that, perceived of usefulness and external pressure from competitors significantly predict social media adoption within Vietnamese MSEs More specifically, the two factors have positive relationship to social media adoption in Vietnamese micro and small sized enterprises Keywords: Social media, social media adoption, perceived of usefulness, External pressure from competitors, Employees‘ knowledge, Micro, Small-Sized Enterprises, E-Commerce CHAPTER INTRODUCTION 1.1 Research background Edosomwan, Prakasan, Kouame, Watson & Seymour (2011) suggests that social media is a special phenomenon that changes the way people receive information, interact with individuals as well as transform the business environment Popular features of social media include interactive, user-generated content, collaborative, sharing, social networking and rapid information diffusion (Kaplan & Haenlein, 2010) Social media offer plenty of services along with various types: social networks (e.g Facebook, Instagram, Pinterest, recruitment network of LinkedIn), form of micro blogs (e.g Twitter, Tumblr), form of rating and reviewing websites (e.g Trip Advisor), form of video sharing websites (e.g YouTube, Dailymotion, Vimeo, Clip.vn), and many more Social media enables consumers find desired products, exchange friends, share articles, customers interact with enterprises, manufacturers have more sales and marketing channels, effectively take care customer after sale Thanks to social networking, businesses can find out how their customers comment about their products and services, learn how to connect more closely with their potential customers and partners Bases on social media‘s special features, tools and technic (e.g interactions, comments, feedback, sharing, live-streaming, create event), enterprises have more tools and options to reach customers, and on the other hand, the role of customers is enhanced According to Reyneke, Pitt, & Berthon (2011), the benefits of social media in e-commerce are enormous Enterprises can easily find important data about their customers, the instant feedbacks about products and / or services they provide and even examine competitors ‗data Along with the advantages, the challenges for those who adopt and use social media in their business are worth considering 1.2 Research context Hermann (1996) argues that the biggest difference between large businesses and small ones is in their size Accordingly, although the size of small and medium enterprises is modest, their role to the whole economy is significant According to the survey of Asia Pacific Foundation of Canada (2017), Micro, Small, MediumSized Enterprises (MSMEs) account for 40 % of Vietnamese gross domestic product (GDP) as well as employ 77 percent of the labour force As an emerging economy with an average 6.2 percent projected GDP growth over the next five years (World bank overview from Vietnam, 2017), MSMEs are critical to Vietnam‘s economic prosperity There have been several factors supporting the growth of Vietnam Micro, Small-Sized Enterprises (MSEs) Vietnam is a country with a young population with 70 percent of the national population is under 35 years of age The development record of Vietnamese economy over the past 30 years is remarkable and Vietnam‘s medium term economic outlook remains positive (World bank overview from Vietnam, 2017) Moreover, according to the Vietnamese government‘s resolution number 35/NQ-CP on supporting and developing enterprises - Outlook 2020 (2016), Vietnamese government set target that the whole country with have at least million well operating enterprises One of the other factors supporting online business is the rapid increase of technology and internet in Vietnam By middle of the year 2017, Vietnam has around the number of 50 million active internet users, accounting for over 53% of the national population (Ministry of Information and Communications report, 2017) About the current use of social networking in Vietnam, according to data from the Vietnam Department of Radio and Television and Electronic Information: By the end of 2017, Vietnam has 367 social networks licensed by the Ministry of Information and Communications Meanwhile, Facebook and Google respectively have 53 million and 33 million active accounts in Vietnam Facebook and Google have advertising revenue of about $ 250 million/year, accounting for more than 70% of the online advertising market in Vietnam‖ (Vietnam Department of Radio and Television and Electronic Information Report, 2017) The survey of Asia Pacific Foundation of Canada (2017) indicates three important findings Firstly, the most commonly applied technologies in Vietnamese MSMEs are Internet and mobile applications Secondly, social media adoption is widely applied in the enterprise environment, especially micro and small enterprises Thirdly, the most frequently chosen social media platforms are instant messaging applications and the social networking named Facebook A recent study conducted in Vietnamese business environment shows that MSMEs lead by entrepreneurs at the aged of 34 and under are likely to adopt new technology and be innovative (Asia Pacific Foundation of Canada, 2017) 1.3 Micro small sized enterprises in Vietnam Under the Government of Vietnam‘s Decree No 39/2018/ND-CP, Vietnamese micro, small and medium-sized enterprises are understood as following: Enterprises have registered in accordance with the law, divided into three levels: Micro, Small, medium by size of total capital (Table 1.1) Table 1.1: Micro, small and medium sized enterprises in Vietnam Applied since 11/3/2018 Scale Micro-Sized Small-Sized Medium-Sized Enterprise Enterprise Enterprise Total Number Total Number Total Number revenue of of capital of Area I capital workers < or = 10 Agriculture - billion forestry, VND fishery, total less in workers workers or < or = < or = < 50 100 or 200 billion billion VND in VND = < or = 200 in industry, revenue total total construction or revenue revenue area < or = or or billion < or = < 20 100 billion billion VND in VND capital capital VND in capital II Trade < or = 10 10 and services billion area or 100 300 billion billion total VND in VND revenue total total or revenue revenue < or = or or billion < or = < 50 100 billion billion VND in VND capital capital VND VND capital less or < or = < or = 50 < or in in = in = < or = 100 or in = in Source: thukyluat.vn (2018) 1.4 Research objective and research questions The objective of my research is to study factors influencing social media adoption for business purposes in Vietnamese MSEs as well as to explore the relationship between some factors to the decision to adopt social media within Vietnamese MSEs The research focuses on answering the following question: ―Which factors REFERENCES Aiken, 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Micro enterprises: Employ less than 10 persons, annual turnover or total capital does not exceed billion VND with companies in the field of Agriculture - Forestry, Fishery, Industry and Construction area Employ less than 10 persons and annual turnover does not exceed 10 billion VND or total capital does not exceed billion VND with companies in the field of Trade and Services area 51 - Small enterprises: Employ less than 100 persons and annual turnover does not exceed 50 billion VND or total capital does not exceed 20 billion VND with companies in the field of Agriculture - Forestry, Fishery, Industry and Construction area Employ less than 50 persons and annual turnover does not exceed 100 billion VND or total capital does not exceed 50 billion VND with companies in the field of Trade and Services area Personal Information Age Gender: Education Background Male Female Information related to enterprise characteristic How long have you been established? A Under year B From to years C Over years Does your company use social media? A Yes B No If your company uses social media, please kindly notify A The company has a specialized department responsible for social media B The company has employee(s) from other divisions and he/she/they is/are responsible for social media How many employees are working in your company? If your company uses social media, how often you update information on your home page? 52 A At any time needed to update new product or interact with customers B Daily update C Weekly update D Every weeks E Once a month or longer If your company uses social media, which platform of social media is preferred? A Facebook B Twitter C Google + D Pinteres E Others What industry are you in? A Fashion, household goods, daily necessities B IT C Communication and Services D Food E Education, counseling F Travel and services G Others 53 Strongly Agree Agree Neutral Disagree Please kindly rate the degree of your agreement Strongly disagree Employees’ social media knowledge Information on "Employees‘ social media knowledge‖ Can you describe the social media capabilities of employees in your company? Kindly indicate your level of agreement (1=―strongly disagree‖ 5= ―strongly agree‖) My employees know how to use most common social media tools My employees know how to use advanced features and quickly keep up with changes from social media service providers My employees have a high level of knowledge and the ability to learn and use other social networks as needed Perceived of Usefulness Kindly describe your understanding about benefits and usefuness of using social media Please indicate your level of agreement (1=―strongly disagree‖ 5= ―strongly agree‖) Social media helps us increase sale revenue Social media makes it easy to carry out events, campaigns and crisis management Social media helps optimize the use of personnel in the enterprise 54 Social media helps interact with customers quickly, effectively so that companies can maintain present customers and find new customers Social media helps create simple and saving-cost internal communication channels External pressure from competitors This is a survey of ―level of competition in your company industry." Kindly indicate your level of agreement (1= ―strongly disagree‖ 5= ―strongly agree‖) Enterprises are doing business in the field of fierce competition Customers can easily find similar company‘s products and services through social media Rival companies are actively using social media Social media adoption Please kindly provide information regarding the decision to use social media in your business? Please indicate your level of agreement (1= ―strongly disagree‖ 5= ―strongly agree‖) I made the decision to adopt social media on my own and based on my intuition I will continue to choose social media because I am fully aware of the benefits and challenges from using it I will prioritize social media adoption as this 55 platform provides more useful tools than the potential risks I would consider using additional social media platforms as needed Thank you for your supporting! 56 ... social media adoption by Vietnamese MSEs This thesis extends the theories on the research topic of factors influencing social media adoption in business context by identifying major factors influencing. .. revealed several factors influencing the adoption and use of social media in corporate context Góngora (2016) explores factors influencing the adoption of social media in Spanish SMEs and finds groups... the intentions of technology adoption 2.4 Factors influencing social media adoption in business context There have been a number of research articles focusing on social media adoption within enterprises