Change Management as a Tool for Widow Entrepreneurs’ Survival in a Knowledge-Based Economy
Keywords:
Change Management, Widows Entrepreneurs and Knowledge-Based Economy.Abstract
Over the years women are seen in Nigeria business ecosystem as an unequal gender with the cultural heritage of women are seen, not heard. Entrepreneurship is often considered as masculine connotations. Thus, Women entrepreneurs struggle with gender discrimination. However, their contributions to the economy have recently been realized. Widowhood in Southeast presents unique challenges for women due to cultural and social factors. These challenges negatively slack the profitability, growth and survival of widows-owned businesses. This study, was carried out in South-East of Nigeria, periscopes on Change Management as a Tool for Widow Entrepreneurs’ Survival in a Knowledge-Based economy. A questionnaire comprising 16 questions was used. Two specific purpose and research questions guided the study which adopted a phenomenological technique for qualitative analysis and a descriptive method for quantitative analysis. The population comprised 120 entrepreneurs who are widows and are indigenes in the South East. Sample size of 100 was adopted by employing the purposive sampling technique. Data were presented in tables and analyzed using percentage and mean. Findings showed that widow entrepreneurs face challenges such as paucity, cumbersome loan processes, family structure, stigmatization in a knowledge-based economy, where emphasis include essential skills, innovation, information and technologies (ICT). Change management strategies include change readiness, innovation, digital adoption, cultural shift. Conclusion draws that application of change management through technology implementation, process redesign, training and development contribute to the overall success, growth and sustainability of the widow entrepreneurs’ resilience and adaptability in the face of knowledge-based economy. It was recommended among others that Building a digital culture, improving access to education and economic opportunities, minimizing resistance to change, government provision of adequate infrastructure, assess loans, grants, enhancing agility that mirrors the technological demands of modern business environments to achieve business objectives, should be adopted
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