THE IMPACT OF DIGITAL TECHNOLOGIES ON BUSINESS MODELS
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- NGN 3000
THE IMPACT OF DIGITAL TECHNOLOGIES ON BUSINESS MODELS
This research aims to: (1) investigate how digital technologies are reshaping business models, (2) identify the most effective digital technologies for business model innovation, and (3) evaluate the impact of digital adoption on business sustainability. A survey design was employed to collect data from a wide range of businesses. Using Taro Yamane's formula, a sample size of 385 participants from start-ups in Lagos was established, ensuring comprehensive insights. The start-up sector was chosen due to its high adaptability to digital changes. The reliability coefficient score of the survey was 0.86. Findings reveal that digital technologies significantly enhance business model flexibility, customer reach, and operational efficiency. It is recommended that businesses continually assess and integrate new digital technologies, foster a culture of innovation, and develop strategic partnerships to sustain competitive advantage.
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