Impact of Digital Technology Adoption and Innovation Capability on Entrepreneurial Success

ABSTRACT: Entrepreneurial success in developing economies, especially in Nigeria and West Africa, is still impaired by the lack of adoption of digital technologies and developed innovation capabilities. This conceptual study explores how the adoption of digital technology and innovation capability impact the success of entrepreneurship through addressing research problem of how technology integration and innovation resources affect performance, competitiveness, and sustainability of entrepreneurial ventures. The primary objective is to gain knowledge on the working principle of digital tools, and novice practices that will advance the pace of business growth, responsiveness to markets and development in the long run. Following the conceptual research design, this study is developed on the systematic gathering of secondary data like scholarly journals, books, historical data, industry reports and newspapers to generalize the understanding of nexus of digital innovation and entrepreneurship. Major results include that the adoption of digital technology has extensive positive effects on the effectiveness of operation and market reach and the ability of innovation mediates the correlation by providing the sustainable competitive advantage and capability to find creative solutions to problems. Besides, the synergies of technology and invention install recharging and growth and scale capability and a customer-focused amongst SMEs. In the light of these findings, the paper proposes that the entrepreneurs must invest strategically in developing digital structures; enhance their innovation potential; and coordinate technology usage with innovation programmes. The point is that policymakers are encouraged to provide supportive systems that enhance the performance of the entrepreneurs. Twitter also contributes to the theory because this study relates Technology Acceptance Model (TAM) and Resource-Based View (RBV) perspectives to the real-life sustainable entrepreneurship considerations.

KEYWORDS: Digital Technology Adoption, Innovation Capability, Entrepreneurial Success, SMEs, Sustainable Growth.