Assessment on Digital Economy Development as a Strategy for Employment Generation in Delta state

Assessment on Digital Economy Development as a Strategy for Employment Generation in Delta state

ABSTRACT

This study assessed on digital economy development as a strategy for employment generation in Delta state. Three research questions guided the study.  A descriptive survey design was adopted for the study. The population of the study comprised of all the workers in the 24 Ministries in Asaba, Delta State. Simple random sampling technique was used in drawing a sample of 10 Ministries from the 24 Ministries in Asaba Delta state. Moreso, simple random sampling technique was equally used to draw a sample of 10 workers from each of the 10 selected Ministries, making a total sample of 200 workers. The sample include all categories of workers in the ministries i.e senior and junior staff. The instrument used for data collection was a structured questionnaire titled “Assessment on Digital Economy Development as a Strategy for Employment Generation in Delta state.” The questionnaire consisted of two sections. Section A comprised personal data of the respondents while section B will comprise questionnaire items. The instrument was validated by two lecturers; one in School of Secondary Education (Business) and the other from Measurement and Evaluation Unit, Federal College of education (Technical Asaba. The corrections and suggestions made by the experts resulted to the final copies of the instrument by the approval of project supervisor. The researcher administered 200 copies of the questionnaire to Workers in Asaba by hand with the help of 2 trained research assistants and 197 were retrieved and analyzed. Data collected will be analyzed using frequency count, mean and standard deviation statistics. The decision rule is that any item with a mean score of 2.50 and above was regarded to be in agreement with the item statement whereas any mean score is less than or below 2.50 were deemed to be in disagreement with the item statement. It was found that there are components digital economy that can be used as a strategy for employment generation, digital economy to a high extent has adopted as a strategy for employment generation and there are factors affecting digital economy development as a strategy for employment generation in Delta state. It was recommended among others that  government ensure that different components of digital economy are integrated to create employment.

CHAPTER ONE

INTRODUCTION

Background to the Study

In the dynamic landscape of the global economy, the advent of the digital era has ushered in transformative changes, offering unprecedented opportunities and challenges. As nations strive to navigate this paradigm shift, the role of digital economy development has become increasingly crucial, not only for economic growth but also as a strategic driver for employment generation. Delta State, like many regions, grapples with the perennial challenge of unemployment, necessitating innovative approaches to foster sustainable economic growth. Recognizing the potential of the digital economy to reshape traditional industries, create new job opportunities, and enhance productivity, policymakers in Delta State have begun to prioritize digital transformation initiatives (Felix, 2021).

The term “digital economy” refers to the use of information technology to create, adapt, market and consume goods and services that are based on the use of information technology, in order to make money (Olaniyi, 2017). Digital economy is one collective term for all economic transactions that occur on the internet. It is also known as the Web Economy or the Internet Economy. With the advent of technology and the process of globalization, the digital and traditional economies are merging into one (Hills, 2018). Digital economy is defined as an economy that focuses on digital technologies, i.e. it is based on digital and computing technologies. It essentially covers all business, economic, social, cultural etc. activities that are supported by the web and other digital communication technologies. There are three main components of this economy, namely, e-business, e-business infrastructure and e-commerce. Digital Economy Digital economy refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web (Edmond, 2017). Digital economy refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web.  The digital economy is also sometimes called the Internet Economy, New Economy, or Web Economy.  Increasingly, the digital economy is intertwined with the traditional economy, making a clear delineation harder. The term ‘Digital Economy’ was first mentioned in Japan by a Japanese professor and research economist in the midst of Japan’s recession of the 1990s. In the west the term followed and was coined in Don Tapscott’s 1995 book: The  Digital  Economy:  Promise  and  Peril  in  the  Age  of  Networked Intelligence as cited in Robert (2018). This was among the first books to consider how the Internet would change the way we did business.

Digital economy is essentially any economic activity that occurs online. It’s really a data-driven economy informed by the ability to collect, use, and analyze massive amounts of machine-readable information to deliver more personalized and meaningful experiences (Ronald, 2020). The digital economy allows companies to create new business models and economic value in ways we couldn’t imagine 30 years ago. In fact, at least two-thirds of executives say that digital business initiatives play a significant role in achieving their top business objectives. The digital economy is an umbrella term that describes how traditional brick-and-mortar economic activities (production, distribution, trade) are being transformed by the Internet, World Wide Web, and blockchain technologies (Philipson, 2017). It can be used to as a strategy for employment.

Employment refers to the responsibilities and benefits associated with a job as agreed upon by an employer and employee at the time of hiring (Felix, 2019). These terms, which may also be referred to as conditions of employment, generally include job responsibilities, work hours, dress code, time off the job, and starting salary. They may also include benefits such as health insurance, life insurance, and retirement plans. Although terms of employment may be agreed upon verbally, employees and employers normally sign written contracts. But, if you are an at-will employee, your employer can change the terms of employment, including your salary, hours, and worksite, at any time. Employment refers to the relationship between an individual and an employer, where the individual performs work or services in exchange for compensation. Employment can take various forms, including full-time, part-time, temporary, or contract work. It is a fundamental aspect of the economic and social structure of societies, providing individuals with a means to earn a living and contribute to the production of goods and services.

Employment is a relationship between two parties regulating the provision of paid labour services (Fashola, 2017). Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contract.

On the other hand, different components of digital economy can be used to create employment. Digital economy can be divided into three key components: e-business, e-business infrastructure, and e-commerce. E-business refers to the use of electronic means to conduct business transactions, such as online banking, online shopping, and online bill payment. E-business infrastructure refers to the hardware, software, and telecommunications networks that enable e-business. E-commerce refers to the buying and selling of goods and services over the internet (Roy, 2017). The digital economy consists of various components, key among which include government; policy and regulation; internet, the world wide web (WWW) and electricity infrastructure; telecommunication industry; digital service providers; e-business and e-commerce industry; information and knowledge management systems; intellectual property rights; human capital and knowledge workers; research and development; and emerging technologies (Tenun, 2019).

However, the adoption of digital economy is influenced by various factors. Obed (2020) identified common challenges faced and lessons learned from applying these assessments in different contexts. These challenges include prioritizing digital diagnosis objectives, addressing inequality and poverty issues, securing participation and partnership of stakeholders, addressing implementation challenges, and integrating digital transformation strategy into a country development strategy. Other challenges include harnessing digital innovation and entrepreneurship, mobilizing local demand for the new technologies, engaging business in digital diagnosis, and adopting multi-disciplinary and whole-of-society approaches. Hence the need to assess digital economy development as a strategy for employment generation in Delta state.

Statement of the Problem

Growing rate of unemployment in Nigeria and Delta State in particular has become an issue of concern to educators and stakeholders alike. Different strategies have been adopted by different state governments to address this menace.

Delta State, like many other regions, faces persistent challenges in the employment sector. Traditional industries may not provide sufficient opportunities for the growing population, necessitating the exploration of alternative avenues. The digital economy offers a promising solution, yet its integration and impact on employment in Delta State remain unclear. Hence the need to assess digital economy development as a strategy for employment generation in Delta state.

Research Questions

The following questions were raised to guide the study:

1. What are the components digital economy that can be used as a strategy for employment generation in Delta state?
2. To what extent is digital economy adopted as a strategy for employment generation in Delta state.
3. What are the factors affecting digital economy development as a strategy for employment generation in Delta state?

Purpose of the Study

The main purpose of this study is to assess digital economy development as a strategy for employment generation in Delta state. Specifically, the study seeks to:

1. Identify the components digital economy that can be used as a strategy for employment generation in Delta state.
2. Examine the extent of adoption of digital economy as a strategy for employment generation in Delta state.
3. Factors affecting digital economy development as a strategy for employment generation in Delta state.

Significance of the Study

The study on assessing digital economy development as a strategy for the employment generation in Delta State holds significant implications for various stakeholders, including students, employers of labour, government, and further researchers.

The findings of the study can provide insights into the potential career opportunities in the digital economy for students. This information can guide their educational and career choices, helping them align their skills with the demands of the evolving job market. Students can identify the specific digital skills that are in demand, enabling them to focus on acquiring relevant competencies that enhance their employability in the digital sector. The study may highlight opportunities for students to engage in digital entrepreneurship, encouraging innovation and the creation of new businesses.

Employers can use the study to understand the evolving needs of the labor market in Delta State. This insight can inform their workforce planning strategies, ensuring that they have the right talent with the necessary digital skills. Employers can identify the specific digital skills that are crucial for their industry, helping them tailor their recruitment and training programs to meet these requirements. This study can guide employers in adopting innovative practices that enhance their competitiveness.

The study’s findings can inform policymakers about the effectiveness of current initiatives related to digital economy development and employment. This information can aid in the formulation of policies that support and accelerate the growth of the digital economy. Governments can use the study to make informed decisions about investments in infrastructure, education, and technology that will promote digital economy development and create employment opportunities. Focusing on the digital economy can contribute to broader social and economic development goals, such as poverty reduction, increased productivity, and enhanced quality of life.

The study can serve as a foundation for further research in the field, allowing researchers to build upon existing knowledge and explore more specific aspects of digital economy development and employment strategies. Researchers can use the findings as a benchmark for comparative studies in other regions, enabling a better understanding of the factors that contribute to successful digital economy development and employment strategies.

Limitation of the Study

The study cannot be used to generalize to the entire nation because it was limited to assessment on digital economy development as a strategy for employment generation in Delta state. The small sample size of the study and use of only one college of education are sources of limitation to this study.

Scope of the Study

This study focused on assessment on digital economy development as a strategy for employment generation in Delta state. With components, extent of adoption and challenges as variables of interest.

Pages:  57

Category: Project

Format:  Word & PDF               

Chapters: 1-5                                          

Source: Imsuinfo

Material contains Table of Content, Abstract and References.