Emerging Technologies, Globalization and Strategic Business Management: Exploring the Trilogy for Developing Countries

Victor Oluwi ,Edward Perekebina Agbai ,Chima Nwosu

doi:10.7176/ejbm/13-13-01

Abstract

In this paper, we explored the trilogy of emerging technology, globalization, and strategic management with a focus on developing countries. The quantitative study deployed the quasi-experimental research design whereby a cross-sectional survey was conducted to collect data from respondents at a single point in time. The Population consists of individuals who are Nigerians living either in Nigeria or in the Diaspora. With a sample size of 385, the population size was determined using the z-score at 95% confidence level and a choice response of 50%. We adopted the conceptual framework of the Unified Theory of Acceptance and Use of Technology (UTAUT), a variant of The Technology Acceptance Model (TAM), in this study.This study is significant because of the need to understand the emerging trends in technology adoption and the role of globalization against a backdrop of a given economic environment. A cursory appraisal of the environment will show that strategic business management may, or may not, have played a role in moderating the patterns in the adoption of emerging technology. Exploring the trends, trilogy, and country conditions (for a developing economy) are the springboards for this study. Among others, the study found that females use emerging technologies more than males with clear gender differences in the salience of various factors that determine an individual’s technology adoption decisions in the workplace. Furthermore, it was observed that strategic management in the form of regulations and policies or incentives, can affect the impact of technology diffusion within an economy. Finally, the study recommends an expansion of the study to include topical aspect of emerging technology like Internet of Things, Artificial Intelligence and 5G devices. Keywords: Emerging technologies, globalization, strategic business management, developing countries DOI: 10.7176/EJBM/13-13-01 Publication date: July 31 st 2021

Highlights

The myriad of political, economic, social, and infrastructural challenges that currently afflict developing countries constitute a significant impediment to an optimal exploration, adoption, and exploitation of the benefits of emerging technologies, globalization, and contemporary strategic business management initiatives (Dahlman, Mealy, & Wermelinger, 2016)
The adoption and the seamless fusion of emerging technology, globalization, and strategic business management marked a significant phase in the evolution and advancement of modern strategic business management
A holistic strategy that aims to leverage the adoption of emerging technologies on the realized benefits of globalization and contemporary strategic business management initiatives and capabilities should be the strategy of choice

Summary

Introduction

The myriad of political, economic, social, and infrastructural challenges that currently afflict developing countries constitute a significant impediment to an optimal exploration, adoption, and exploitation of the benefits of emerging technologies, globalization, and contemporary strategic business management initiatives (Dahlman, Mealy, & Wermelinger, 2016). Organizations and business leaders in developing countries are aware of and grasp the concepts of emerging technology, globalization, and strategic business management initiatives, these concepts are, and in most cases, explored, adopted, and exploited as stand-alone or in silos. In contrast to the current traditional stand-alone or silo method of business management in most developing countries, contemporary and 21st century business practices demand seamless fusion and complementarity of emerging technologies, globalization, and strategic business management initiatives (Dent & Bozeman, 2014). While availing developing countries the opportunity to explore, adopt, and exploit emerging technologies, such holistic approach would further enhance and ensure the utilization rates of emerging technologies, organizational competitiveness, increased spate of innovation, shorter times to market, increased profitability, and an improved level of the socio-economic conditions in developing countries

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