Achieving Incremental Innovation In It Through Business Information Utilization In Small And Medium Enterprises In Nigeria 1

Achieving Incremental Innovation In It Through Business Information Utilization In Small And Medium Enterprises In Nigeria 1

Author by Dr. Evans C Otuza

Journal/Publisher: International Conference On Intelligent Computing And Emerging Technology (icet)

Volume/Edition: 2

Language: English

Pages: 49 - 55

Abstract

SMEs are heterogeneous population of firms whose contributions to private sector participation and economic development are wide which include but not limited to new products and services, improved designs and processes and adoption of new technologies. However, the picture is different in Nigeria where SMEs have been noted to perform below expectation over the years due to enormous challenges ranging from poor level of financial
assistance, lack of infrastructural facilities, lack of competitive intelligence skill among workers, unfavorable environment and government policies among others. The paper attempts to bridge the gap between the current situation and the ideal through identification of strategies to enhance competitiveness among SMEs using appropriate technologies and business information, some of the strategies include: clustering, big data networking, economic globalization, specialization in a market niche to compensate for some of the disadvantages of small scale. Also, while there are more challenges to contend with by SMEs in Nigeria, the benefits in terms of access to new markets and knowledge can be enormous. Special attention is given to the role
of information in business and in achieving competitiveness in SMEs while considering specific contexts outside Nigeria as a basis for adjudging the strength and weakness of Nigerian SMEs. The paper concludes with salient recommendations to pertinent issues beclouding the firms’ performance and productivity level in Nigeria.

Keywords— : clustering, business information, big data Intelligence, big data, SMEs, Competitive Intelligence


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