Abstract:
Information and Communication Technology (ICT) is regarded as an important
aspect for both businesses and individuals alike. When it comes to businesses, the
use of ICT is generally accepted to bring about enhanced performance and
competitiveness through various means such as reduction of costs, an increase in
efficiency and production. While knowledge of the use of ICT is necessary for
businesses, it is equally important to understand the factors that would contribute to
or affect such adoption by businesses as well. This study aims to analyse the several
models that have been formulated over the years for the Adoption of ICT and
summarize its applications, weaknesses, and strengths in explaining ICT Adoption.
This literature review hopes to explore the most prominent theories: The Diffusion
of Innovation Model, Technology, Organization and Environment (TOE)
Framework, and the Iacovou et al. Model in an attempt to close the knowledge gap
that exists concerning the Adoption of ICT by the Small and Medium Scale (SME)
sector and its implications.
