Impact of Technological Change On Small and Medium Enterprises Performance in Lagos State

Abstract

Organizations are restructuring, re-engineering and rethinking how they do business in an effort to keeppace with changes in technology and other economic conditions in the world. The goal of technological changeunder study is the ability of SMEs to accept new innovative methods that will lead to higher performance of humansand machines for increased productivity. Descriptive survey research with the sample population of 153respondents made up of managers and owners of small and medium enterprises within the Lagos metropolis wasused for this study. The major statistical technique used was a linear regression technique. The hypothesis testedfound that technological change has effect on organizational performance of small and medium enterprise withinthe Lagos metropolis. The coefficient of determination (R2 = 0.566) showed that 56.6% of the success recorded inthe SMEs performance is accounted for by technological change. This result is statistically significant because thep-value of the result (0.000) is less than 0.05 level of significance used for the study. This indicates that technologicalchange has a positive and significant impact on SMEs performance in Lagos State. In order to achieve success inchange management through technology; human resources, culture and innovation must be recognized andrespected. This will enhance SMEs performance both in the short and long run. It will also prevent unnecessaryresistance of employees to change through deviant workplace behaviour.