Exploring technology adoption for business and awareness of the Fourth Industrial Revolution amongst business managers and entrepreneurs in Ndola, Zambia.

Abstract

The Fourth Industrial Revolution (4IR) is believed to have an impact on various sectors across the globe. The disruptive change of the 4IR has impacted business models and the way managers and entrepreneurs can conduct business practices through innovativeness. The study focused on Exploring technology adoption for business and awareness of the Fourth Industrial Revolution amongst business managers and entrepreneurs in Ndola, Zambia. The study adopted a qualitative research method, and the data collection was conducted through semi-structured online interviews. Purposive sampling was used for the selection of participants. The participants were recruited from The Patents and Companies Registration Agency (PACRA) database in Ndola, Zambia. Forty (40) companies spanning sectors such as Logistics, business consultancy, cosmetics, information technology services, secretarial services and tourism took part in the online interviews. The interview transcriptions were analysed using NVivo 12. The study revealed that entrepreneurs and managers are knowledgeable about the 4IR and understand its impact on business, they employ the use of technology in their business’s operations. Furthermore, the study’s findings revealed that entrepreneurs and managers have the necessary facilities in their organisations that support technology adoption. The research found that based on the perspective of small business managers and entrepreneurs who were participants of the research, there is not much that the government is doing to provide policies of economic growth through technology adoption for business and provision of information on the perceived benefits of the Fourth Industrial Revolution. The research recommends that there is a need for improvement in the government’s efforts to play a leading role in the sensitization of the Fourth Industrial Revolution in the country with a particular target towards entrepreneurs as they are drivers of the economy. There is a need for managers and entrepreneurs to play a proactive role in acquiring information on the benefits of the 4IR and prepare for adoption in business through education and training programmes.