MODERN TECHNOLOGY IMPROVES THE BUSINESS PERFORMANCE: A SURVEY OF HOTEL BUSINESS IN KARACHI, PAKISTAN

The part which entrepreneurs play in the economic growth of any country needs no explanation. Having started new businesses by utilizing their skills and knowledge, they give creation to new ideas in the market and reach the right decisions that serve as vehicles of prosperity and enhancement of the business. The global quest for achieving permanence in economic development and acceleration of social progress has found a new light in entrepreneurial activities. A lot of proponents such as burgeoning urbanization and industrialization, coupled with the prevalence of social legislation as well as general awareness and entrepreneurial education on formal grounds have set the stage for the ever-increasing omnipresence of novel entrepreneurial ventures in various economies across the globe. This study emphasizes for the use of modern technologies for an entrepreneurial business, which is a key factor for its success of an entrepreneurial business. Employing a well-developed and verified scale, data collection from 100 respondents was done on a cluster sampling basis. Research questionnaires distributed to owners of hotel management in district central of Karachi, Pakistan. Descriptive statistics applied on the relevant variables such as replacement of modern tools with old one and performance of modern tools and machines, and getting the competitive advantage. This research article aims at contributing to the existing academic literature present on the importance of use of modern technologies to run the hotel business in Karachi, Pakistan. This study shall assist government regulators in making informed decisions while addressing the need and significance of modern technologies for Pakistani entrepreneurs, which shall lead to more effective and well-planned initiatives, which can help not only to improve the performance of entrepreneurial ventures but also to curb and eventually eliminate poverty from Pakistan.