Advanced Research in Economics and Business Strategy Journal

A Conceptual Framework For Integrating Digital Transformation, Innovation, And Sustainability For Sme Growth In Nigeria

Auteurs : Gumel Babandi Ibrahim .

Résumé

This study aims to examine how Nigerian SMEs might strategically incorporate innovation, sustainability, and digital transformation to attain sustained success. Given the 80% failure rate of SMEs in Nigeria within five years, they must skillfully navigate a swiftly changing digital environment necessitated by the growing imperative to implement sustainable practices. The aim is to create an extensive theoretical framework called the Digital-Driven Sustainable Innovation (DDSI) framework, which will offer policymakers and SME leaders significant insights. Thirty SME owners and managers took part in focus groups and in-depth interviews as part of a multicase qualitative study. Thematic analysis revealed patterns and correlations that shed light on how SMEs could take advantage of this triple nexus. A comprehensive theoretical framework known as the Digital-Driven Sustainable Innovation (DDSI) framework has been developed to offer policymakers and SME leaders in Nigeria valuable insights for effectively navigating a rapidly evolving digital landscape, necessitated by the imperative to adopt sustainable practices that will facilitate the long-term growth of SMEs. The study will be a tool for business solutions that will increase the growth of SMEs and lower their failure rates, which will ultimately provide a way to raise the employment rate in the Nigerian economy. The study, which was the result of the self-compassion of successful SMEs in Nigeria's most developed cities, can be considered a novel study that can be repeated in other cities due to the high percentage of SME failure in the country.

Mots clés

SMEs ; Digital Transformation ; Innovation ; Nigeria ; Sustainability