TECHNOLOGICAL ORIENTATION AS A STRATEGY FOR ENTREPRENEURIAL and SMES ECONOMIC IMPACT
Abstract
Entrepreneurial Small and medium-scale initiatives which are often referred to as SMEs are important economic actors for growth of any country. Therefore policies, procedures and strategies must be formed to direct and improve organizational activities and performance of these enterprises for effective and efficient competition. This research aimed to critically look into technological orientation and its strategic role in the competitiveness of small and medium entrepreneurial initiatives in Agege, Alaba, Satellite Town, Trade fair complex, Lagos State. A multi-stage sampling technique involving purposive, stratified and simple random techniques were employed. An aggregate of 120 questionnaires were self-administered to randomly chosen entrepreneurs in selected area of Lagos State. Data were collected, collated and analyzed using simple percentages and Regression via the Statistical Package for Social Science (SPSS version 23) software. This study revealed that technological orientation strategically influences competitiveness of organizations significantly. Hence, the suggestions that companies ought to be technologically-inclined in markets alongside willingness to learn to perform and produce better products, thereby enabling the firm to have greater inventions. Likewise, entrepreneurial orientation is key to not only dominate huge market share but to also ensure qualitative accomplishments in its industry.
Keywords: Technological Orientation, Strategy, Entrepreneurial initiatives, Economic Impact, Lagos
CITATION: Ogbari, M. E., Chima, G. U. K., Olokundun, M. A., Olarewaju , F., & Kehinde, B. (2022). Technological orientation as a strategy for entrepreneurial and SMEs economic impact. The Strategic Journal of Business & Change Management, 9 (2), 1287 – 1300.
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DOI: http://dx.doi.org/10.61426/sjbcm.v9i2.2334
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