Technology Adoption and Business Growth in the United States
DOI:
https://doi.org/10.47672/ijbs.2121Abstract
Purpose: The aim of the study was to assess the technology adoption and business growth in the United States.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: The study found that firms that actively embrace new technologies tend to experience significant improvements in productivity, efficiency, and innovation, leading to overall business growth. Technologies such as cloud computing, data analytics, artificial intelligence, and automation have been particularly instrumental in driving this growth by streamlining processes, reducing costs, and enabling better decision-making. Moreover, businesses that successfully integrate these technologies into their operations often gain a competitive advantage in their respective industries, attracting more customers and expanding their market share. Overall, the evidence suggests that technology adoption plays a crucial role in fostering business growth and sustainability in today's digital age.
Implications to Theory, Practice and Policy: diffusion of innovation theory, resource-based view (RBV) theory and technology acceptance model may be used to anchor future studies on assessing the technology adoption and business growth in the United States. Businesses should invest in tailored technology solutions that address their specific operational needs. Policymakers should offer financial incentives such as grants, subsidies, and tax breaks to encourage businesses, especially SMEs, to adopt new technologies.
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