EVALUATING THE EFFICIENCY OF DIGITAL PLATFORM–DRIVEN ENTREPRENEURIAL ACTIVITIES IN THE MODERN BUSINESS ENVIRONMENT

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EVALUATING THE EFFICIENCY OF DIGITAL PLATFORM–DRIVEN ENTREPRENEURIAL ACTIVITIES IN THE MODERN BUSINESS ENVIRONMENT

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

The rapid advancement of information and communication technology (ICT) has significantly transformed the way businesses are created, managed, and expanded across the globe. In recent years, digital platforms such as social media networks, e-commerce websites, mobile applications, and online marketplaces have become vital tools for entrepreneurial activities. These platforms provide entrepreneurs with cost-effective means of reaching wider markets, engaging customers, promoting products and services, and conducting transactions with minimal physical infrastructure (Laudon & Traver, 2020).

In the modern business environment, entrepreneurship is increasingly driven by digital innovation. Digital platform–driven entrepreneurship refers to business activities that rely primarily on online platforms for value creation, customer interaction, marketing, and distribution. This model has lowered entry barriers for new ventures, particularly in developing economies, by reducing startup costs and improving access to information and financial services (OECD, 2021).

In Nigeria, the growth of internet penetration, smartphone usage, and mobile banking has accelerated the adoption of digital platforms among entrepreneurs. Many small and medium-scale enterprises (SMEs) now depend on platforms such as Instagram, Facebook, WhatsApp Business, Jumia, Konga, and fintech applications to conduct business operations. These digital tools have contributed to job creation, youth empowerment, and economic diversification, especially in the informal sector (Ayo, Oni, Adewoye, & Eweoya, 2016).

Despite the widespread adoption of digital platforms, concerns remain regarding their efficiency in enhancing entrepreneurial performance. Issues such as poor digital infrastructure, cybersecurity threats, limited digital literacy, unstable power supply, and regulatory challenges may limit the effectiveness of platform-driven business models. Therefore, it is important to evaluate how efficiently digital platforms support entrepreneurial activities in the contemporary business environment.

1.2 Statement of the Problem

Although digital platforms have become central to entrepreneurial activities, many entrepreneurs experience challenges that hinder optimal performance. While some businesses record increased sales, customer reach, and profitability through digital platforms, others struggle with low engagement, high operational costs, online fraud, and intense competition. This disparity raises questions about the actual efficiency of digital platform–driven entrepreneurship.

In Nigeria and other developing economies, inadequate internet connectivity, lack of technical skills, inconsistent government policies, and trust issues in online transactions further complicate digital business operations (Ndukwe & Eze, 2020). Additionally, the rapid evolution of digital technologies requires continuous learning and adaptation, which many small business owners find difficult.

Despite the growing body of literature on digital entrepreneurship, there is limited empirical evidence assessing the efficiency of digital platforms in supporting entrepreneurial activities within the modern business environment, particularly in the Nigerian context. This study seeks to fill this gap by systematically evaluating the efficiency of digital platform–driven entrepreneurial activities.

1.3 Objectives of the Study

The main objective of this study is to evaluate the efficiency of digital platform–driven entrepreneurial activities in the modern business environment.

The specific objectives are to:

examine the role of digital platforms in supporting entrepreneurial activities;

assess the extent to which digital platforms enhance business performance and growth;

identify the benefits of digital platform utilization for entrepreneurs;

examine the challenges associated with digital platform–driven entrepreneurship;

suggest strategies for improving the efficiency of digital platforms for entrepreneurial development.

1.4 Research Questions

The study seeks to provide answers to the following questions:

What roles do digital platforms play in entrepreneurial activities?

How do digital platforms influence the performance of entrepreneurs?

What benefits do entrepreneurs derive from using digital platforms?

What challenges hinder the efficiency of digital platform–driven entrepreneurship?

How can the efficiency of digital platforms in entrepreneurship be improved?

1.5 Significance of the Study

This study will be beneficial to entrepreneurs by providing insights into how digital platforms can be effectively utilized to enhance business performance. Policymakers and government agencies will benefit from the findings as they can guide the formulation of policies aimed at improving digital infrastructure and supporting entrepreneurship.

Academics and researchers will find the study useful as it contributes to existing literature on digital entrepreneurship and platform-based business models. Students of business administration, entrepreneurship, and information management will also benefit from the study as a reference material for academic research.

1.6 Scope of the Study

The study focuses on evaluating the efficiency of digital platform–driven entrepreneurial activities within the modern business environment. Emphasis is placed on entrepreneurs who rely on digital platforms for marketing, sales, customer interaction, and business operations. The study may be limited to selected small and medium-scale enterprises.

1.7 Definition of Key Terms

Digital Platforms: Online technologies and applications that facilitate business operations, communication, and transactions.

Entrepreneurial Activities: Business actions involving innovation, risk-taking, and value creation.

Efficiency: The ability to achieve maximum output with minimal resources.

Digital Entrepreneurship: Entrepreneurship that relies significantly on digital technologies and platforms.

Modern Business Environment: The contemporary commercial setting characterized by globalization and technological advancement.

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