The strategic Role of Information Communication Technology on Business Development: Nigerian Perspective
Keywords:
ICT, Business Development, Social Media, E-commerce, Productivity.Abstract
There has been series of debate in recent times as
to whether the adoption of Information
Communication Technology (ICT) improves or
worsens the development of a country. Based on
these contentions, this study therefore assessed
the strategic role of information communication
technology (ICT) on the development of
businesses in Nigeria. Stratified sampling
technique was used to select a sample of three
hundred and fifty three (353) respondents from a
working population of three thousand (3,000)
employees. Primary data was collected through
the use of structured questionnaire. The data
obtained were analysed using descriptive and
inferential statistics. Findings from the study
revealed that there is a significant effect of ICT onÂ
business development (R2 = 0.183, Adjusted R2 =
0.149, P=0.000). The results also indicated a
moderate positive relationship between Ecommerce
(r = 0.462, P<0.01), and Social media
(r = 0.382, P<0.01) on business development. The
study concluded that the adoption of ICT by
business owners can lead to expansion of the
geographical scope of potential markets, as well
as reduction in transaction cost, thereby
improving productivity. It was recommended that
organizational management should considered
ICT as tool to increase the level of profitability,
gaining entrance to speedy flow of information
and shape inter-organizational coordination.
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