Theoretical models for enhancing operational efficiency through technology in Nigerian businesses

Theoretical models for enhancing operational efficiency through technology in Nigerian businesses

August 2024 | Anwuli Nkemchor Obiki-Osafiele, Christianah Pelumi Efunniyi, Angela Omozele Abhulimen, Olajide Soji Osundare, Edith Ebele Agu, Ibrahim Adedeji Adeniran
The concept paper explores how technological advancements can be strategically employed to enhance operational efficiency in Nigerian businesses. It outlines key objectives, theoretical frameworks, and expected outcomes, emphasizing the potential for technology to drive productivity and economic growth. The paper identifies and evaluates various theoretical models, such as the Technology Acceptance Model (TAM), Diffusion of Innovations Theory, and Resource-Based View (RBV), to guide the integration of technology into business operations. It highlights the importance of operational efficiency for competitiveness and sustainable growth, and discusses specific technological tools like ERP software, CRM systems, and cloud computing. The paper addresses challenges such as infrastructure, funding, skills gap, and resistance to change, proposing strategies like investing in digital infrastructure and fostering public-private partnerships. Expected outcomes include increased productivity, improved customer satisfaction, and higher profitability. The paper provides a comprehensive framework for understanding and implementing technology-driven operational improvements, calling for collaborative efforts between government, industry stakeholders, and businesses to create an enabling environment for technology adoption and operational excellence.The concept paper explores how technological advancements can be strategically employed to enhance operational efficiency in Nigerian businesses. It outlines key objectives, theoretical frameworks, and expected outcomes, emphasizing the potential for technology to drive productivity and economic growth. The paper identifies and evaluates various theoretical models, such as the Technology Acceptance Model (TAM), Diffusion of Innovations Theory, and Resource-Based View (RBV), to guide the integration of technology into business operations. It highlights the importance of operational efficiency for competitiveness and sustainable growth, and discusses specific technological tools like ERP software, CRM systems, and cloud computing. The paper addresses challenges such as infrastructure, funding, skills gap, and resistance to change, proposing strategies like investing in digital infrastructure and fostering public-private partnerships. Expected outcomes include increased productivity, improved customer satisfaction, and higher profitability. The paper provides a comprehensive framework for understanding and implementing technology-driven operational improvements, calling for collaborative efforts between government, industry stakeholders, and businesses to create an enabling environment for technology adoption and operational excellence.
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