Use Of Smartphone On Promotion Of Small Scale Business Among Young Entrepreneur

Project and Seminar Material for Entrepreneurship

Use Of Smartphone On Promotion Of Small Scale Business Among Young Entrepreneur


Abstract


This study was carried out to examine the use of smartphone on promotion of small scale business among young entrepreneur using some selected small scale businesses in Lagos State as a case study. The study was carried out to identify different mobile phone uses relevant to SMEs, identify the key success factors for SMEs, determine the effect of the smart phone use in the successful performance of the SMEs and determine if there is a significant relationship between smart phone use and the successful performance indicators for SMEs. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of employees of some selected small scale businesses in Lagos State. In determining the sample size, the researcher conveniently selected 53 respondents and 50 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and mean scores. While the hypotheses were tested using Chi-square statistical tool. The result of the findings reveals the different smart phone uses that are useful to SMEs includes: Voice calls, SMS/MMS, Internet Banking and Mobile Banking. The study also revealed that there is a significant relationship between smart phone use and the successful performance of SME. Therefore, it is recommended that in order for business people to survive in this rapidly advance new technological world which uses mobile online revolution, businesses need to be innovative by bringing up their popular digital channels in store to help enhancing their customer experience and also creating a dynamic, exciting and vibrant environment that will keep customer returning through their “door”. To mention but a few.


Table of Content


  • Title Page
  • Certification
  • Dedication
  • Acknowledgement
  • Table of Content
  • List of Tables
  • Abstract

Chapter One:

Introduction

  • 1.1 Background of the Study
  • 1.2 Statement of the Problem
  • 1.3 Objective of the Study
  • 1.4 Research Questions
  • 1.5 Research Hypothesis
  • 1.6 Significance of the Study
  • 1.7 Scope of the Study
  • 1.8 Limitation of the Study
  • 1.9 Definition of Terms
  • 1.10 Organisations of the Study

Chapter Two:

Review of Literature

  • 2.1 Conceptual Framework
  • 2.2 Theoretical Framework
  • 2.3 Empirical Review

Chapter Three:

Research Methodology

  • 3.1 Research Design
  • 3.2 Population of the Study
  • 3.3 Sample Size Determination
  • 3.4 Sample Size Selection Technique and Procedure
  • 3.5 Research Instrument and Administration
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Validity of the Study
  • 3.9 Reliability of the Study
  • 3.10 Ethical Consideration

Chapter Four:

Data Presentation and Analysis

  • 4.1 Data Presentation
  • 4.2 Analysis of Data
  • 4.3 Answering Research Questions
  • 4.4 Test of Hypotheses

Chapter Five:

Summary, Conclusion and Recommendation

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • APPENDIX
  • QUESTIONNAIRE

Chapter One


Introduction

1.1 Background of the Study

The global business environment is tremendously changing exhibiting immense dynamisms, which are driven by the increasingly changing innovations in the area of Information and Communication Technologies (ICT). The innovations have continued to permanently alter the rules of the game and expectations of the new digitized highly inter-linked economies operating in a rather global village. As Cassidy (2002) rightly points out, the notions of trans- boundary trade as practised traditionally have undergone dramatic changes to appreciate and embrace, though at times reluctantly, the rising number of trade-related activities and financial transactions, which occur purely and significantly through the Internet and technologically enhanced tools for information and communication.

In the modern information and communication age, smart phone use is one of the most rapidly growing areas raising a lot of concern from different quotas. Smart phone applications are one of the significant components of the ever-changing Information and Communication Technologies, which have played a key role in transforming the manner in which business is done in the current globalised and fiercely competitive business environment. Their impact in the lens of client coverage and the general outlook of businesses cannot be underestimated. Further, the mode, nature and quality of service delivery and the entire process as a key part of the success story of businesses is immensely affected by the level of adoption of the information and communication technologies as enhanced through mobile phone use.

The role of ICTs and specifically the applications supported by smart phone in advancing the development of national economic activities through enhanced efficiency and productivity and increased market access, is both irreversible and undisputed. It is within this vein of understanding that adequate and significant strategic intent has to be keenly focused to enable the access to the new opportunities offered by the transformations in the Information and Communication Technologies, not only by the larger enterprises within the national economies but also by the SMEs (SMEs). This indeed is important in enabling the enterprises to compete effectively and favourably with the developed and larger corporations within the national economies (Tomecko and Dondo, 1992).

It is undeniable that the SMEs play a significant role in the Kenyan economy. Eight years ago, an economic survey indicated that the SMEs had contributed at least 30% of the new job opportunities established in the year 2005. In spite of this evident significance of the SMEs, statistics in the past have also indicated that in every five SMEs, three fail within the beginning few months of their operation. Several reasons have in the previous studies been attributable to such failure as exemplified in Longenecker, et al., (2006), with the most prominent reason being poor management of the enterprisers. Generally, poor management of the SMEs affect their operational effectiveness and efficiencies, which creates a setback to achieving their deserved success. In addition, Bokea, Dondo and Mutiso (1999) identified infrastructure as a major constraint in the path towards the development of the SMEs. Specifically, infrastructure in this context includes but not limited to the provision of telecommunication equipment, which is a conspicuous part of the information and communication technologies.

Premised on the fact that SMEs face a myriad of challenges, which to a large extent precipitate into their ultimate failure, adoption and subsequent utilization of Information and Communication Technologies, with specific reference to the smart phone use, would be a stepping stone towards recording a success story in their operations (Bowen, et al., 2009). To say the least, smart phone use would significantly enhance the competitive strength of the SMEs and offer access to new profitable and better promising opportunities. Furthermore, improved operational efficiency would also be a positive outcome of the successful adoption of the technologies by the SMEs. The flow and integration of trade and commerce within the area of operation of the SMEs would also be enhanced with the successful adoption of these technologies.

Given the large number of the SMEs investing in Nigeria, the level of competition is significantly high. Consequently, the SMEs within this region are at a critical point in time with regard to the process of adopting Information and Communication Technologies and specifically the use of mobile phone as a device for enhancing their competitiveness in their respective industries and lines of business. Given this background, the researcher considered the region as an effective and better placed site for any study involving SMEs as is the case in this study.


1.2 Statement of the Problem

Encouraging the growth and development and performance of the local SMEs is a welcome idea for the varied stakeholders in the sector including the government. As Mead (1998) notes, this is premised on the fact that the SMEs can be significantly helpful in the fight against poverty, which is a key phenomenon for most developing economies to which Nigeria is part. This is particularly through increasing the level of household income and creation of new job opportunities. However, as businesses worldwide continue to embrace and enhance their reliance on the capabilities facilitated by information and communication technologies to receive, process and disseminate information, SMEs are yet to reap these benefits evenly (Jamal, 2005). Specifically, there has been continuous evolution of smart phone uses which if well considered would have a significant positive impact on the performance of the SMEs. Consequently, the businesses would be opened up to new and better opportunities in the market in their quest to beat the rising competition in the business platform. It is within this understanding that this study sought to unravel the role of smart phone use in the performance of SMEs. Specifically, the research aimed at identifying the key success factors for SMEs, the major challenges and opportunities for the SMEs and how the SMEs can leverage on the smaret phone uses to enhance their competitiveness in their respective lines of operation. The findings of the research provide important insights to the SMEs to embrace the technologically enabled services embedded in smart phones.


1.3 Objectives of the Study

The primary objective of this research was to determine the use of smartphone on promotion of small scale business among young entrepreneur. In order to build to this primary research objective, the research also aimed at achieving the following secondary objectives;

  1. To identify different mobile phone uses relevant to SMEs.
  2. To identify the key success factors for SMEs.
  3. To determine the effect of the smart phone use in the successful performance of the SMEs.
  4. To determine if there is a significant relationship between smart phone use and the successful performance indicators for SMEs.

1.4 Research Question

The study will be guided by the following questions;

  1. What are the key success factors for SMEs?
  2. What are the different smart phone uses that are useful to SMEs?
    1. Voice calls,
    2. SMS/MMS,
    3. Internet Banking,
    4. Mobile Banking
  3. What are the roles that the identified smart phone uses play in the performance or success of the SMEs?
    1. Effective management
    2. Effective marketing
    3. CR management
  4. Is there a significant relationship between smart phone use and the successful performance of SME?

1.5 Research Hypothesis

  • Ho: The use of smartphones cannot contribute to the success of SMEs.
  • Ha: The use of smartphones can contribute to the success of SMEs.

1.6 Significance of the Study

The significance of this research spill over to different stakeholders in the area of business and commerce including the government, policy makers and decision makers in the SMEs. It is commonplace for governments through its state agencies to put in place policies that are aimed at enhancing and encouraging the growth and development of local SMEs. This is because of the tested positive contribution of SMEs in economic development and poverty reduction through creation of employment opportunities and hence increasing income of households. Based on this understanding, the findings of this research will go a long way in providing insights on how the government together with its relevant policy makers would encourage and enhance the performance of SMEs.

By identifying different smartphone uses useful to SMEs in enhancing their successful performance, the research will significantly contribute to the performance of the SMEs by providing important information for decision making purposes by the SMEs’ decision makers. Further, the insights provided through the research will help in the integration of different market participants for instance producers (SMEs) and consumers (customers) by enhancing their interactions within the market context. To this end, the findings are helpful in improving the market efficiency to the advantage of both SMEs and their consumers. Last but not least, the research provides firsthand information and identifies different important areas to be exploited further through future research. Therefore, the research acts as the building block for future research in the different fields related and connected thereto.


1.7 Scope of the Study

This research was carried out within the intents of determining the use of smartphone on promotion of small scale business among young entrepreneur, with a view of determining different areas of improvement for the effective use of these smartphone uses by the SMEs. In order to effectively focus the research, different critical activities and the key success factors for SMEs were identified in the research. In addition, different smartphone uses useful to SMEs were also identified during the research, which provided a leeway for linking the smartphone uses and the key success factors and the critical activities of SMEs hence, determining their role in the successful performance of the SMEs. The research built on the existing literature both empirical and theoretical studies on the role of smartphones uses in the performance of SMEs. The research only identified the different areas that need to be improved to enhance the effective use of mobile phone uses by the SMEs. Therefore, proposing or determining the ways of improving the identified areas was outside the scope of this research. Geographically, this study will be delimited to some selected small scale businesses in Lagos State.


1.8. Limitation of the Study

The research exhibited some limitations, which are inherent to normal research of this kind. First, being a primary research it relied significantly on the information provided by the respondents. In this case, the accuracy and reliability of the findings of the research highly depended on the accuracy and reliability of the submissions from the respondents, which are prone to other distortive factors both internal and external to the respondents. In addition, the research made use of data from a sample of elements from the population, hence prone to the limitations of sampling. Furthermore, the research as per its scope only identified the different areas of improvement for the effective use of smartphone, but did not go further into providing details both empirical and theoretical of how the identified areas could be improved by the stakeholders involved. In addition, the research focused on the SMEs offering financial services and the findings were generalized to the other SMEs. The applicability and accuracy of the findings of the proposed research to the SMEs in the other sectors is therefore not guaranteed.


1.9 Definition of Terms

SMEs

Small and medium-sized enterprises or small and medium-sized businesses are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation “SME” is used by international organizations such as the World Bank, the European Union, the United Nations, and the World Trade Organization.

Smartphone

A mobile phone that performs many of the functions of a computer, typically having a touchscreen interface, internet access, and an operating system capable of running downloaded apps.


1.10 Organization of the Study

The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, and selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter(chapter five) contains the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on the use of smartphone on promotion of small scale business among young entrepreneur using some selected small scale businesses in Lagos State as a case study. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was to examine the use of smartphone on promotion of small scale business among young entrepreneur using some selected small scale businesses in Lagos State as a case study. The study was specifically carried out to identify different mobile phone uses relevant to SMEs, identify the key success factors for SMEs, determine the effect of the smart phone use in the successful performance of the SMEs and determine if there is a significant relationship between smart phone use and the successful performance indicators for SMEs.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 50 responses were validated from the enrolled employees of some selected small scale businesses in Lagos State.


5.3 Conclusions

Based on the findings of this study, the researcher concluded that;

  1. The key success factors for SMEs includes: strategic planning, management capacity, entrepreneurship and innovation, human resources,and financing.
  2. The different smart phone uses that are useful to SMEs includes: Voice calls, SMS/MMS, Internet Banking and Mobile Banking.
  3. The roles that the identified smart phone uses play in the performance or success of the SMEs includes: Effective management, Effective marketing and CR management.
  4. There is a significant relationship between smart phone use and the successful performance of SME.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

  1. In order for business people to survive in this rapidly advance new technological world which uses mobile online revolution, businesses need to be innovative by bringing up their popular digital channels in store to help enhancing their customer experience and also creating a dynamic, exciting and vibrant environment that will keep customer returning through their “door”.
  2. Government can, perhaps in collaboration with network providers, subsidize small business owners with regards to costs associated with the use of mobile technology. If these subsidies are given to established small businesses, they would be a good alternative to “funding or cash” injections that are generally given to start-ups whose future may be highly uncertain.
  3. It is recommended that other business that do not use mobile phones should start to equally benefit from it.

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