In a recent seminar held in Lagos, Professor Adeola Okunola, a leading expert in business technology, urged local business owners to prioritize investments in technology to enhance their operational efficiency and competitiveness. The seminar, organized by the Nigerian Chamber of Commerce, attracted a diverse group of entrepreneurs and business leaders eager to learn about the latest technological trends and innovations.
Professor Okunola highlighted the rapid pace of technological advancement and its significant impact on various sectors, including retail, manufacturing, and services. He pointed out that businesses that fail to adapt to these changes risk falling behind their competitors. “Technology is no longer a luxury; it is a necessity for survival in today’s market,” he stated.
During his presentation, the professor outlined several key areas where technology can drive business growth. These include automation of processes, data analytics for informed decision-making, and the adoption of e-commerce platforms to reach a broader customer base. He emphasized that investing in these technologies not only improves efficiency but also enhances customer satisfaction and loyalty.
“Incorporating technology into your business model can streamline operations and reduce costs, allowing you to allocate resources more effectively,” Professor Okunola explained. He provided examples of successful companies that have embraced technology, noting how they have transformed their operations and achieved significant growth.
The professor also addressed the challenges that small and medium-sized enterprises (SMEs) face when considering technological investments. He acknowledged that the initial costs can be daunting, but he encouraged business owners to view technology as a long-term investment rather than an expense. “The return on investment can be substantial if you choose the right technologies that align with your business goals,” he advised.
In addition to financial considerations, Professor Okunola discussed the importance of training and upskilling employees to effectively utilize new technologies. He urged business owners to invest in their workforce to ensure that they are equipped to handle technological changes. “Your employees are your greatest asset. Investing in their skills will pay off in the long run,” he said.
The seminar also featured panel discussions with industry experts who shared insights on the latest technological trends and their implications for businesses. Topics included artificial intelligence, cloud computing, and cybersecurity, all of which are becoming increasingly relevant in the business landscape.
Participants expressed their appreciation for the insights shared during the seminar, with many stating that they felt more equipped to make informed decisions regarding technology investments. “This seminar has opened my eyes to the potential of technology in my business. I now understand that I need to take action to stay competitive,” said one attendee.
As the event concluded, Professor Okunola reiterated his call to action for business owners. He urged them to embrace technology not only as a means of improving their operations but also as a way to innovate and adapt to changing market demands. “The future of business is digital, and those who invest in technology today will be the leaders of tomorrow,” he concluded.
The Nigerian Chamber of Commerce plans to host more seminars in the future to continue educating business owners about the importance of technology in driving growth and innovation in the Nigerian economy.
