Impact of Technological Change On Small and Medium Enterprises Performance in Lagos State

Stella Toyosi Durowoju

doi:10.25167/ees.2017.44.7

Published: 2020-11-25

Vol. 17 No. 4 (44) (2017)

Impact of Technological Change On Small and Medium Enterprises Performance in Lagos State

Stella Toyosi Durowoju

Economic and Environmental Studies

Section: Articles

https://doi.org/10.25167/ees.2017.44.7

Abstract

Organizations are restructuring, re-engineering and rethinking how they do business in an effort to keep
pace with changes in technology and other economic conditions in the world. The goal of technological change
under study is the ability of SMEs to accept new innovative methods that will lead to higher performance of humans
and machines for increased productivity. Descriptive survey research with the sample population of 153
respondents made up of managers and owners of small and medium enterprises within the Lagos metropolis was
used for this study. The major statistical technique used was a linear regression technique. The hypothesis tested
found that technological change has effect on organizational performance of small and medium enterprise within
the Lagos metropolis. The coefficient of determination (R2 = 0.566) showed that 56.6% of the success recorded in
the SMEs performance is accounted for by technological change. This result is statistically significant because the
p-value of the result (0.000) is less than 0.05 level of significance used for the study. This indicates that technological
change has a positive and significant impact on SMEs performance in Lagos State. In order to achieve success in
change management through technology; human resources, culture and innovation must be recognized and
respected. This will enhance SMEs performance both in the short and long run. It will also prevent unnecessary
resistance of employees to change through deviant workplace behaviour.

Keywords:

Technological change, Change management, SMEs, Innovation, Performance

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Durowoju, S. T. (2020). Impact of Technological Change On Small and Medium Enterprises Performance in Lagos State. Economic and Environmental Studies, 17(4 (44), 743–756. https://doi.org/10.25167/ees.2017.44.7

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