EFFECT OF TECHNOLOGY CHANGE AND COMPETITIVE ADVANTAGE: A STUDY OF SELECTED SERVICE ORGANIZATIONS IN LAGOS STATE

Abstract

In every part of the world business organizations rival one another for competitive positioning. Technology change is ever present in all spheres of human endeavor including in businesses. The speed at which the need for technology change arises in the business environment has made technology change management a key success factor for all firms. Technology change management has become a matter of life and death for businesses because those who fail to predict change and act appropriately usually lose market share and may face threats of extinction; hence, organizational efficiency, profitability, growth, and survival depend on change management. As identified in this paper, the major types of change that ravage the service sector in Lagos state is technology change. The purpose of this research is to assess whether technology change is a predictor of competitive advantage. Using a survey research design, and a self-developed questionnaire on a five-point Likert scale, responses were obtained from 187 respondents from the three service organizations selected for the purpose of this research. The data obtained was used to answer the research question formulated to assess the extent to which technology change impact on competitive advantage of business organizations. Using Statistical Package for Social Sciences (SPSS) to test the null hypotheses, the researcher found that technological change impact competitive advantage significantly. It concludes that for any organization to achieve success, paying attention to key drivers of technology change and being proactive about responding to the technology change drivers in a timely manner are prerequisites for organizational survival and competitive advantage.