The globalisation process in the world has increased international competition thereby resulted in more companies competing in more markets internationally. This situation has equally exposed the manufacturing small and medium enterprises (SMEs) everywhere to stiffer international competition. This has then necessitated the need for greater demand for high quality products and services, together with fast response time, reliable deliveries and new product functions. Competitiveness has now become important within this framework of global competition; hence SMEs must be ready to improve on their products and processes, and implement necessary changes in their organisational and marketing strategies. Ability to achieve these changes requires innovative capabilities. This book, therefore, examines the process of new technology acquisition by manufacturing SMEs in Nigeria with the view of suggesting proper policy for making this sub-sector of the economy innovative and competitive. The results should be useful to students, academics, and policy makers in the fields of technology management and small business development.