Industry 4.0 Technology Adoption and Market Scalability of Small and Medium Enterprises in Southwest, Nigeria (Published)
The study examined the relationship between i4.0 technology adoption and market scalability of small and medium enterprises in Southwest, Nigeria. The objectives of the study are to; examine the level of awareness of small and medium entrepreneurs of i4.0 technology in Southwest, Nigeria, evaluate the challenges of adoption of i4.0 technology by small and medium entrepreneurs in Southwest, Nigeria, determine the facilities required for the adoption of i4.0 technology by small and medium entrepreneurs in Southwest, Nigeria. The study adopted the descriptive research design of the survey type. Multistage sampling techniques was used to select the samples of one thousand two hundred (1,200) respondents from the owners of MSMEs in Southwest, Nigeria. Structure questionnaire was used to collect data from the respondents. Data collected were analyzed using descriptive statistics, while regression analysis was used to test the hypotheses. Findings of the study revealed that, majority of the small and medium entrepreneurs do not awareness about i4.0 technology in Southwest, Nigeria, the challenges identified as the problem confronting the adoption of i4.0 technology in Southwest Nigeria, which are lack of expertise about i4.0 technology, financial challenges, unstable power supply. The study concluded that, there is significant relationship between i4.0 technology adoption and number of markets covered by small and medium enterprises in Southwest, Nigeria; Based on the findings of this study, it therefore recommended that, owners of MSMEs in Southwest, Nigeria should embrace the adoption of i4.0 technology to increase their profitability.
Keywords: Industry 4.0, Profitability, Small and Medium Enterprises, Technology, scalability
Impact of Virtual Office on Business Environment (Published)
This study focused on the impact of virtual office on business environment. A virtual office gives businesses a physical address and office-related services without the overhead of a long lease and administrative staff. For a better understanding of the impacts, the researcher established first the link between technology and office work. It was found that with the advent of technological advancement, office works required the use of updated technologies for the ultimate goals of being globally competitive. The reasons for adopting virtual offices include reduction of costs of production and services, improvement of performance, increased work productivity being up-to-date, and becoming at the competitive edge over other markets. Given the findings, it was concluded that adoption of virtual office work have a positive impact on performance and it creates employment opportunities rather than it eliminates. The challenges can be addressed by providing early notice about the change, the conduct of planning and training so that the personnel can successfully adapt to the change and displacement of workers will be prevented.
Keywords: Office, Technology, Work Environment, virtual, virtual office
Influence of Mobile Photography on Outdoor Commercial Photographers in Federal University of Technology, Akure, Nigeria (Published)
The influence of mobile photography in recent times is enormous as the number of persons with camera fitted smartphones increase. The World is engrossed in images from mobile photography through social media feeds. Many of these images may fall short of professional quality, due to limited skill of actors, nonetheless, they are increasing being deployed for visual communication. The business of commercial campus portrait photographers is threatened by these nascent mobile photographic developments. This study examined the impact of mobile photography and its corresponding social media usage on the business of commercial portrait photographers in Federal University of Technology, Akure (FUTA), using a descriptive research approach. 294 staff, 267 students and 13 photographers who were sampled randomly for the study were administered structured questionnaire. Their responses were analyzed using test of proportion and percentages. The results obtained reveal that many members of the university community use their smartphones for capturing images of self and of others. The results further reveal a decline in the demand for print copies of photographs. Consequently, these developments signify reduced patronage of campus commercial photographers, who made the confirmation from reduction in their engagements and earnings. Many of the photographers are already making adjustments in their service offerings, as recommended by this study, if the campus must remain a viable business environment for them.
Keywords: Akure, Federal University, Nigeria, Technology, mobile photography, outdoor commercial photographers
Review Of Operational Constraints Responsible For Benue Cement Company’s Inability to Achieve Strategic Business Mission and Objectives (Published)
This study is a critical review to determine the operational constraints responsible for Benue Cement Company Plc’s inability to achieve its strategic business mission/objectives, which led to its takeover by Dangote Cement Plc as its subsidiary plant. The research method adopted is an analytical, historical and descriptive survey analysis. Primary and secondary sources of data were used for the study. The instrument use for data collection was a five point Likert scale questionnaire designed to meet the research objectives for the study. 308 participants were used for the study. Analyses of data and result from literature and empirical reviews suggests that: BCC Plc had these operational constraints: low capacity utilization, weak liquidity, erratic public power supply, higher prices of petroleum products, re-capitalization, high operating and distribution cost; inability to meet customer demand ; production and distribution inefficiency, inadequate spare parts, raw materials scarcity, management inability to manage its business opportunities and threats, incessant plant breakdown, which resulted in occasional shift in brand preference . The research conclude that BCC Plc’s management lacked good sense of urgency in managing the company’s operations to survive, grow, remain competitive and profitable to achieve strategic business mission and objectives in its business operations.
Keywords: Benue Cement Company Plc, Capacity Utilization, Operations, Strategic Business Mission, Technology, theory of Constraints
New Trends in the Ahwiaa Wood Carving Industry in Ghana: Implications for Art Education and Socio-Economic Growth (Published)
Asantes in Ghana are noted for their expertise in variety of specialized visual arts such as wood carving. Ahwiaa wood carving industry has developed; though production techniques have remained stereotype. Tools have greatly remained simple, materials the same, variations in form have not changed much and conventional treatment has not promoted creativity and originality, yet some new trends, new approaches are noticeable today. At present, globalization, trade, education, religion, changes in societal values and cultural practices, political and economic challenges, technology, trade (commerce), knowledge explosion have generated new approaches in the Ahwiaa wood carving industry. Besides, no organized documentation has been done on the Ahwiaa wood carving industry, so that the researchers almost always have to rely on oral tradition as a source of information from wood carvers. The researchers employed the qualitative descriptive method to carry out the study. The data were collected using interviews and observation. The researchers found out that the tools used are simple tools made by the local blacksmith which are sharpened and maintained by oiling and storing after use. The main material is wood, formerly acquired by felling special trees from the forest. Today, the log for carving is bought from Timber contractors. The carving of an item follows specific processes, according to tradition. Women were prevented from carving in the past; today women are free to carve if they so wish. The researchers recommend that School of Business, departments of Sculpture and Integrated Rural Art and Industry at KNUST should organize workshops for carvers at Ahwiaa and introduce them to modern wood carving technologies, entrepreneurial skills and business strategies to equip them to promote tourism and socio-economic development of Ghana as well as their personal development
Keywords: Socio-economic development., Technology, Trade, Tradition, Visual Art, Wood Carving