Impact of ICT Usage on Entrepreneurss Innovations & Business Performance: A Review of Literature

Abstract

Introduction: Research attempts to develop a model investigating impact of Information and Communication Technology (ICT) usage on entrepreneurs’ innovations and business performance. Small and Medium Size Enterprises are major sources of employment and food production; therefore it plays a key role in Sri Lankan livelihood. Sector plays a major role for creation of employment opportunities, mobilizing domestic savings, poverty alleviation, income distribution, regional development, training of workers and entrepreneurs and creating economic environment which large industries flourish and contribute to export earnings. When considering the current statistics it shows that sector is not providing the expected results compared to developed countries. Thus there is a burning need to identify mechanism to improve SME performance in Sri Lanka. Methodology: Through a literature survey researcher tries to identify the concept entrepreneur, his relationship with innovation, relationships between ICT usage and entrepreneurs’ innovations, and the impact of these ICT enabled innovations on business performance. Further direct impact of ICT on business performance also will be investigated. Findings: Literature highlighted innovation as the key for entrepreneurs’ performance. Further it identified main four types of innovations namely product, process, market and organizational. Literature suggested relationship between ICT usage and business performance. Literature suggests ICT as an enabler for those four types of innovations. Further literature inspire researcher on researching impact of ICT enabled innovations for business performance.