Impact of technological change on small and medium enterprises performance in Lagos State

Organizations are restructuring, re-engineering and rethinking how they do business in an effort to keep pace with changes in technology and other economic conditions in the world. The goal of technological change under study is the ability of SMEs to accept new innovative methods that will lead to higher performance of humans and machines for increased productivity. Descriptive survey research with the sample population of 153 respondents made up of managers and owners of small and medium enterprises within the Lagos metropolis was used for this study. The major statistical technique used was a linear regression technique. The hypothesis tested found that technological change has effect on organizational performance of small and medium enterprise within the Lagos metropolis. The coefficient of determination (R2 = 0.566) showed that 56.6% of the success recorded in the SMEs performance is accounted for by technological change. This result is statistically significant because the p-value of the result (0.000) is less than 0.05 level of significance used for the study. This indicates that technological change has a positive and significant impact on SMEs performance in Lagos State. In order to achieve success in change management through technology; human resources, culture and innovation must be recognized and respected. This will enhance SMEs performance both in the short and long run. It will also prevent unnecessary resistance of employees to change through deviant workplace behaviour.