421
Journal of Management Sciences - Volume 9, Issue 2 2022
By Olubiyi, T. O
10.20547/jms.2014.2209202
Keywords: Competitive advantage, innovation, knowledge, market share, pandemic, profitability, resources, SME's.
The coronavirus pandemic has resulted in an extraordinary shock to businesses with unfavorable effects for current production capacity. At the same time, technology has increasingly been advocated as a crucial method for minimizing economic losses from the pandemic. Small and medium-sized enterprises survival and lack of longevity continue to spark public debate, scholarly interest, concerns and attention. Inadequate technology capability is one of the key problems to which this may be attributed. The relationship between Technological capability (TC) and firm performance was examined amongst selected small and medium-sized enterprises in Lagos State. This paper conducted a survey research approach, using a sample size of 742 consisting of owner/managers of selected SMEs in Lagos State. Data were gathered using a standardized questionnaire that was adopted and validated for the research. The Cronbach's alpha coefficient for the questionnaire items varies from 0.77 to 0.88. The response rate to the questionnaire was 94.5%. The collected data was analyzed using descriptive and inferential statistics (Pearson product moment correlation and regression analysis). The analysis of the data revealed that technology capability had a significant relationship with small business performance. This paper concluded that, technology capability is a resource that improves small business performance, with theoretical and practical implications for firms. It is recommended that the management of SMEs in Lagos State utilize technological capacity as a business resource since it may be beneficial for innovations or product developments.
Submission Date: 6 Jun, 2022 Reviews Completed: 15 Sep, 2022Acceptance Date: 30 Sep, 2022 Publication Date: 6 Oct, 2022