The strategic Role of Information Communication Technology on Business Development: Nigerian Perspective
The strategic Role of Information Communication Technology on Business Development: Nigerian Perspective

Summary/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 on business development (R2 = 0.183, Adjusted R2 = 0.149, P=0.000). The results also indicated a moderate positive relationship between E-commerce (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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