IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 7 NO. 1 2022
DOI: https://doi.org/10.56201/wjeds.v7.no1.2022.pg70.86

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Disruptive Technology and Entrepreneurship Innovation in Emerging Economies: The Nigerian Experience

Odey, Ferdinand Ite (Ph.D), Ebri, Eno Willie (Ph.D)

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Abstract

Technology has, in the last two decades in particular, witnessed rapid advancement, with ground-breaking and disruptive innovations which continue to challenge and transform the ‘traditional’ ways of doing things. This study explored the nexus between disruptive technology and entrepreneurship innovation in emerging economies using Nigeria as a case study. The classical ordinary least squares regression technique was used for data analysis. It was revealed from the findings that new market disruption has a significant positive impact on entrepreneurship innovation in Calabar Metropolis of Cross River State, while the low-end disruption has no significant effect on entrepreneurship innovation. It was recommended that new market disruptive innovation should be design in such a way that entrepreneurial innovation will be radically oriented rather than incremental in nature so as to apply to product, service and business-model opportunities in used by entrepreneurs. Low-end disruptive innovation should be model by management of firms to target overshot customers with lower-cost business models. Government should implement policies that have an overwhelming influence in shaping the opportunities that entrepreneur’s target. Regulation created to respect the forces of innovation can create an environment ripe for yielding disruptive change. With the advent of innovation, entrepreneurs must partner with upcoming innovations so as to explore the technological and growth opportunities therefrom and give customers better and more innovative product offerings. Entrepreneurs and other business owners should employ the use of new technology as this enhances productivity and reduces the cost of production.

keywords:

Disruptive technology, Entrepreneurship, Entrepreneurship innovation, Emerging economies, Nigeria

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