Tag Archives: Entrepreneurship

Dare to be Entrepreneurial: A Student’s Nightmare (Published)

In recent past, governments have focused on developing strategies to help curb the alarming rates of unemployment especially amongst graduates of tertiary institutions in Ghana. This is as a result of the failure of students to explore opportunities owing to the challenges associated with entrepreneurial activities. In addition, the lack of proper training and intervention strategies in influencing the intention levels of students also pose a colossal task in tackling the unemployment levels in the country. A sample size of 267 was selected using the stratified and convenience sampling method for the study. Data was analysed using Structural equation modelling. The findings reveal that all the three variables: entrepreneurial attitudes, perceived support and instrumental readiness influenced entrepreneurial intentions. The findings of the study imply that when entrepreneurial attitudes are favourable as well as capital, coupled with support from a student’s network, can influence entrepreneurial intentions. Recommendations for future research are also discussed.

Keywords: Attitudes Towards Entrepreneurship, Entrepreneurial Activity, Entrepreneurship, Start-Ups

The Valuation of Student Entrepreneurs and Their Business Plans Using Factor Analysis (Published)

This work analyzes investor assessment of students’ business plan, with the hope of boosting their confidence level as they venture into business. The main goal of this study is to prove if investor support programs can assist students to get requisite know-how in becoming entrepreneurs, such that they could be great business tycoons after school. Conscientiousness or due diligence in entrepreneurship could be an approach of a modern-day investor to increase the confidence level of entrepreneurs being groomed in universities by identifying entrepreneurial skills in students and mentoring them. This forms a part of the investors’ strategy to make use of internal resources and skills, as well as opportunities and risks created by its external environment in venturing into a business. The entrepreneur is usually seen as an innovator, a source of new ideas, resources and business dealings. Identifying business opportunities, self-confidence and seed capital were found to be the most important attributes in motivating students to start a new venture. The authors of this study performed this kind of research using Factor Analysis.

Keywords: Business Plan, Entrepreneurship, Investors, Students

Considering Primal Teacher Leadership through Quadrant Intelligent (Qi) Model for Teacher Education Content Validity in Ghana (Published)

Using the convenient sampling technique, 250 teachers from the GES (N=218) were used to assess Qi levels. The findings showed significant differences in Ideal Qi and Actual Qi scores, but showed no significant variations among groups [F(1, 218)=1.517, p=.219]. The significant difference was found among the intercept of gender and teaching experiences [F(1, 75)= .596, p= .957)] therefore the alternative hypothesis rejected. Recommendations include the adoption of Qi model by the GES/ Teacher Education Division in Pre-service and In-service training of teachers. Teacher performance assessment should include the assessment of Qi levels and should lead to certification and partly based on evidence of such C21st multiple intelligence. Again, Qi model should be given serious consideration in policy decisions and scholarship. The study contributes to a new paradigm in skills set for teacher education and professional development. These skills set includes but not limited to social, emotional, strategic, and entrepreneurial intelligences.

Keywords: Emotional Intelligence, Entrepreneurship, Primal Teacher Leadership (PTL), Quadrant Intelligence (QI) Model, Social Intelligence, Strategic Thinking

Analytical Review of Small and Medium Scale Enterprises in Nigeria (Published)

The primary purpose of business is the supply of goods and services to satisfy the societal needs. Wherever people live in conurbations, there is always the need for goods and services. These goods and services are supplied by institutions such as the family, the voluntary organization, the business firms, local, state and federal government. Also, the importance of credit facilities from both the bank and non-bank financial institutions cannot be overemphasized in enhancing the development of SMEs in the country. However, only the effect of initial capital (CAP) and non bank credit facilities (NBK) is significant and responsive towards the enhancement of performance of SMEs while credit facilities from banks are insignificant with respect to SMEs development. Lastly it concluded that government agencies such as the National Directorate of Employment should intensify efforts geared towards training programmes for SMEs.

Keywords: Enterprise, Entrepreneurship, Environment, Growth, SMEs

Comparative Analysis of Opinions of Enterprise Managers and Business Students on Youth Entrepreneurship Development in Enterprises in the Context of Eritrea (Published)

The development of youth entrepreneurship has been forwarded as a very attractive alternative both to help the growing number of unemployed youth and to harness the potentials of the youth in an effort to bolster the economy of a country. This study has attempted to explore the level of importance of various factors for youth entrepreneurship development in enterprises in the context of Eritrea by seeking the opinions of private and public manufacturing enterprise managers and senior students in a business college. A total number of 150 managers and students were asked to rate 56 factors that are expected to influence or affect youth entrepreneurship development in enterprises. Respondents were asked to rate each factor, presented in the form of 5-points likert-scale. The ratings of the factors of importance for youth entrepreneurship development in enterprises by the three groups of respondents have a moderate degree of correspondence (as measured by the Spearman’s rho). Among the factors considered for youth entrepreneurship development in enterprises, prioritized factors by private enterprise managers are related with provision of more supportive environment for youth. Public enterprise managers have prioritized factors that target for the development of enterprise such as technology transfer and education while students have prioritized factors related with ambition, individual initiative and hard work In general, private enterprise managers were found to rate the factors higher compared to either public enterprise managers or the student group. The study has shown that the three groups of respondents have somewhat different opinions on how youth entrepreneurship in enterprises can be developed. This suggests the need to take into account the viewpoints of various relevant stakeholders when such programs of youth entrepreneurship development are envisioned.    

Keywords: Business Students, Entrepreneurship, Eritrea, Managers, Youth

Repeatable Scalable Business Models: Can Innovation Drive an Entrepreneurs Un-Validated Business Model (Published)

Can the level of innovation use drive un-validated business models across regions? To what extent does industrial sector attractiveness drive firm’s success across regions at the time of start-up? This study examines the role of innovation on start-up success in six regions of the world (namely Sub Saharan Africa, the Middle East and North Africa, Latin America, South East Asia Pacific, the European Union and the United States representing North America) using macroeconomic variables. While there have been studies using firm level data, results from such studies are not suitable for national policy decisions. The need to drive a regional innovation policy also begs for an answer, therefore providing room for this study. Results using dynamic panel estimation show that innovation counts in the early infancy stage of new business life cycle. The results are robust even after controlling for time fixed effects and the study present variance-covariance estimation robust standard errors.

Keywords: Entrepreneurship, Industrial Economics, Innovation and Un-Validated Business Models

The Role of Entrepreneurial Studies on Student Job Placement in Ghana: A Case Study Of Some Selected Tertiary Institutions in the Brong Ahafo Region (Published)

Entrepreneurship is a key driver of every economy. Wealth and a high majority jobs are created by small businesses started by entrepreneurially minded individuals, many of whom go on to create big businesses. People expose to entrepreneurship frequently express that they have more opportunity to exercise creative freedoms, higher self-esteem, and an overall greater sense of control over their own lives. Hence the study into the role of entrepreneurial study on student job placement in Ghana. The study was exploratory in nature. Population for the study was 10,000. Convenient sampling was used in selecting the sample. A sample size of three hundred and seventy (370) was used. The major instrument for data collection was questionnaire. It was found that entrepreneur studies had develop an entrepreneurial mind-set and enterprising skills include, building up a wide understanding of entrepreneurship and its application to a diversity of settings “Develop capabilities and confidence in students to start, operate and grow an enterprise effectively. Also, it was found that entrepreneurial education provides capacity for job placement. It was discloses that some student want to be an entrepreneur because they have seen that a family member is succeeding. It was recommended that Universities should continue to organize seminars on entrepreneurship for student. Moreover, Student should learn to do away with the habit of not being creative and innovative in nature.

Keywords: Entrepreneurial Capacity, Entrepreneurial Studies, Entrepreneurship, Job Placement

The Regent Business Schools New Entrepreneurial Centre: Towards Transforming South Africa’s Past and Reformulating the Present (Published)

The paper looks at entrepreneurship in terms of its importance to South Africa. In this regard it discusses the importance of initiatives like the Regent Business Schools proposed new Entrepreneurial Centre which will be opened in the latter part of 2016. A brief historical perspective is undertaken in this regard, in order to firstly situate the thrust, importance and necessity of the entrepreneurship and entrepreneurial dynamic, as it relates to a democratic South Africa. This is undertaken within the context of development and leadership in South Africa. The importance of entrepreneurship cannot be under estimated, in terms of development and economic growth in South Africa for purposes of stimulating much needed small business development and, the empowerment of the masses of people neglected by the administrative government systems by both, the apartheid and democratic government, post 1994. In undertaking the discussion in this paper, the issues towards transforming South Africa’s past and transforming the present assumes significance, in terms of the transformation agenda of the state. In addition the paper very briefly discusses development theories, and calls for a reformulation of these theories in order, to engineer sustained and coordinated development within developing countries. The paper outlines the strategic plan for the Regent Business Schools Centre for Entrepreneurship and its modalities for engagement for purposes of consolidating this important and necessary initiative. By the same token, the paper discusses very briefly the problems that higher education confronts in respect to access into higher education in South Africa and, therefore, posits that entrepreneurial training and development can assist in solving some problems that the country confronts, in terms of access to higher education and entrepreneurial development.    

Keywords: Business, Economy, Education, Entrepreneurship, Reformulating, Transforming

Enabling and Stimulating Entrepreneurship Education in Higheer Education Institutions: Catalyst for Venturesome Youths and Sustainable Development in Nigeria (Published)

Entrepreneurship is increasingly being recognized as a significant conduct for bringing about a transformation to sustainable products and processes, with numerous high-profile thinkers advocating entrepreneurship as a panacea for many social and environmental concerns. Yet, despite the promise entrepreneurship holds for fostering sustainable development, there remains considerable uncertainty regarding the nature of entrepreneurship’s role in the area, and the academic discourse on sustainable development within the mainstream entrepreneurship literature has to date been sparse. While entrepreneurs have long been recognized as a vehicle for exploiting emerging opportunities associated with societal need, we have little understanding of how entrepreneurs will discover and develop those opportunities that lie beyond the pull of existing markets. Thus, while the case for entrepreneurship as a panacea for transitioning towards sustainable development society-wide is valid, there exists  major gaps in our knowledge of whether and how this process will actually unfold. This paper focuses on: (i) Factors that challenge the teaching of entrepreneurship education within the Higher Education Institutions to engender sustainable development and venturesome youths; (ii) Strategies to employ in addressing these challenges. Factors that Challenge the Teaching of Entrepreneurship Education in Higher Education Institutions; (iii) Imperatives and outcomes of entrepreneurship education and the state of entrepreneurship education in Higher Education Institutions

Keywords: Entrepreneurship, Entrepreneurship education, Higher Education Institution, Venturesome Youths Sustainable Development

Skills in Basic Science and Technology for Local Technology and Entrepreneurship in Nigeria (Published)

With the broad search for skills to drive the home grown local technology in developing countries like Nigeria, Nigerian Educational Research and Development Council (NERDC) in the new Curriculum for Basic Science and Technology, encourages teachers to lead their students to identify entrepreneurial skills in Basic Sciences. This study is one of the efforts to determine such skills in Basic Sciences and Technology for Local technology and entrepreneurship. The research took place in one of the biggest cities in a flourishing State in Nigeria with 120 students (30 each), randomly selected from four secondary schools. The validated prime instrument for the descriptive survey design was questionnaire. The data was analyzed using inferential statistics. The researcher made recommendations that could answer the usual local and global question of “Where next is technology driving the local entrepreneurial?”

Keywords: Basic Science, Entrepreneurship, Skills, Sustainable Development, Technology, local technology

The Relationship between Entrepreneurship Education and Students’ Entrepreneurial Intentions in Ogun State-Owned Universities, Nigeria (Published)

The alarming rate of unemployment in Nigeria has become a major national problem. To abate this problem, the Federal Ministry of Education made Entrepreneurship Education compulsory for all students of higher institutions in the country. This study therefore investigates the relationship between students’ exposure to Entrepreneurship Education and their career entrepreneurial intentions in Ogun State-owned universities. Six hypotheses were generated for the study. The population comprises all final year undergraduates, with a sample of six hundred and nine. Three research instruments were used. The data collected were analysed using descriptive statistics, Pearson Product-Moment Correlation Coefficient, T-test and ANOVA. Findings revealed that Entrepreneurship Education significantly influences students’ Entrepreneurial intentions. It was recommended among others that Entrepreneurship Education should be practical-oriented so as to have greater participations in classroom interactions which would further enhance motivation.

Keywords: Entrepreneur, Entrepreneurial Intentions, Entrepreneurship, Entrepreneurship education, Motivation

The Effect of Women-Owned Business on Entrepreurship and Small Business Management: The Case of ‘Happy Family’ (Published)

The paper examines the issue of entrepreneurship and small business focusing on women-owned businesses. It explores the relevant academic literature, addresses succinct research questions which will be answered after having examined one of the top US women-owned companies, Happy Family. The purpose of the paper is to evaluate how Happy Family may serve as a model for successful women entrepreneurship. Through the information derived from this research specific questions that arose from the literature review are answered. Findings indicate that indeed Happy Family, as a women-owned small business, has some basic unique features, such as decent background, limited access to capital and family related incentives. On the other hand, high level of education and entrepreneurial character skills are met in women who start a small company and lead it to full success. Some current challenges can be summarized into increasing competition as long as a company grows and continuous pursuit of initial mission.

Keywords: Entrepreneurship, Small Business Management, Women-owned Business

Assessing the Impact of Incubation Programme to Small and Medium Enterprises Development in the Western Cape Province of South Africa (Published)

This paper sought to determine the impact of incubation programme to Small and Medium size Enterprises (SMEs) development in the Western Cape Province, South Africa. The study utilised a quantitative method approach to collect data by way of closed and open handed questionnaires. The Statistical Package for the Social Sciences (SPSS) software was utilised to analyse the data. The findings indicated that incubated SMEs had about; one to ten employees (85.7%) in the programme during the course of investigation. While those who had about eleven to fifty employees represented (14.3%) as this indicates slight improvement for economic participation and job creation in the Cape Metropolitan District. A majority of the respondents (53.6%) who participated in the study strongly agreed that businesses in the incubation program has a great potential to create more jobs opportunities. In addition, the results also indicate that respondents (60.7%) joined the incubation programme to obtain a multiple of skills such as networking, finance and growth. Recommendations to improve the current standard of incubated entrepreneurs in the study setting were made

Keywords: Business Incubators, Entrepreneurship, Incubation Programme, Small and Medium Size Enterprises

Entrepreneurship Education for Self Reliance and Economic Development in Nigeria (Published)

The Nigeria government introduced entrepreneurship education as a pathway to stimulate self- sufficiency, self-sustainability and self-support culture in students. The aim is to ensure graduates take advantages of personal resourcefulness to be self-employed. This is because entrepreneurship concerns the persistent pursuit of opportunities to create wealth through innovative creation of a product or service that meets customer’s needs using scare resources in a way that results in a growth enterprise which satisfies the expectation of stakeholders whose roles sustain the business. Against this backdrop, therefore, the paper examines the concepts of entrepreneurship, entrepreneurship education and self-reliance. The paper equally examines the role of entrepreneurship education in self-reliance and economic development and highlighted the challenges for entrepreneurship education in Nigeria such as inadequate funding, lack of materials, entrepreneurship teachers among others. Finally, it recommends that the government should strive to release up to 26% of their annual budget for education as suggested by UNESCO.

Keywords: Entrepreneurship, Entrepreneurship education, self-Reliance and Economic Development

Entrepreneurial Orientation and Business Performance of Handicraft Industry: A Study of Nepalese Handicraft Enterprises (Published)

This paper represents the role of Entrepreneurial Orientation in business performance of handicraft enterprises in Nepal. The study is conducted among the members of Federation of Handicraft Associations of Nepal. Guided by the post-positivistic paradigm, this study examines the effect of five EO dimensions on handicraft business performance. Simple random sample is employed among 397 population and 196 respondents are asked to respond to the survey questionnaire. Out of 178 responded people, only 161 were found usable. The business performance is measured through the three dimensions, namely efficiency, growth, and profit. The descriptive statistics, correlation and regression analysis are used to analyze the data and to infer results. However, business status, respondents’ qualification, national coverage, employment generation, and gender equality seemed good but fertile areas of business were found only in tourist areas of Nepal. The findings of correlation and regression represent that autonomy, risk-taking, and pro-activeness and competitive aggressiveness were positively correlated with business performance. However, innovativeness had no correlation with business performance of handicraft enterprises in Nepal. Further, autonomy and competitive aggressiveness dimensions of entrepreneurial orientation were found only the contributors in handicraft business. The empirical findings of this study recommended that the companies should pay proper attention to expand their business in other States of Nepal as well because Nepal has also other potential areas of tourism. The study also found that the handicraft business is well operated in State 3 and 4 where Kathmandu and Pokhara are situated though they are prominent areas of tourism in Nepal.

Keywords: Entrepreneurial Orientation, Entrepreneurship, Handicraft Business Performance

Social Innovation Strategies and the Performance of Social Enterprises in Nairobi City County, Kenya (Published)

Current trends have shown that social entrepreneurship is identified as the Key driver of the third sector as well as the public and private sector. Social enterprises play a critical role in social-economic development. Social innovation is one of the most important aspects of social entrepreneurship as it enhances the degree to which an enterprise effectively responds to emerging opportunities and challenges in the market. The field of social innovation turns critical societal problems into opportunities by actively involving the community actors. This paper is an analysis of how social innovations influence social enterprises in Nairobi County of Kenya. Cross -sectional design is used. The target population comprises all the registered social enterprises in Nairobi County. A simple random sampling technique was used to draw a sample of 107 registered social enterprises in the County. A self-administered questionnaire was used as the main data collection instruments. A pilot study was conducted to test validity and reliability of the questionnaire. Data was then analyzed both descriptively and using inferential statistics. One-way analysis of variance was used to test the hypotheses. Both Pearson’s product moment correlation and Chi-square were also used to test for significant associations between social innovations and performance of Social enterprises.

Keywords: Entrepreneurship, Innovation, Performance, Social Enterprise, Social Innovation

Curriculum Structure and the Cameroonian Labour and Industrial Market (Published)

Education in Cameroon has come under serious criticisms for failing to deliver in accordance with its promises as stipulated in the education law. With the improving situation of democracy and freedom in Cameroon entrepreneurship becomes a major prerequisite for the rapid economic development of the nation. It is for this reason that these researchers elected to carry out a study on curriculum structure and the Cameroonian labour and industrial market. The curriculum of the English speaking educational subsystem was evaluated. The study revealed that the present curriculum no longer meets the demands of the society. A curriculum revision was recommended

Keywords: Curriculum Structure, Education Law, Entrepreneurship, Industrial Market, Labour Market

The Role of University Managerial Staff In The Process Of Implementing the Concept of Entrepreneurship and Innovation by Jordanian Universities (Published)

The purpose of this paper is to explore the dimensions of the university managerial staff role in the process of implementing the concept of entrepreneurship and innovation by Jordanian universities. A questionnaire was used as a tool for data collection where 320 questionnaires were distributed to a random sample from seven Jordanian universities managerial staff. The collected data were refined and statistically analyzed. The obtained results clearly denote that the three independent variables (university managerial staff capacities, the university supporting policy and the nature of the general environment) all together have positive impacts on both dependent variables (the university general performance and the expansion of education and professional opportunity for university entrepreneurship graduates, with a correlation coefficient values of 0.908 and 0.890 respectively at 0.01 level of significant.

Keywords: Entrepreneurship, Innovation, Managerial Staff, entrepreneur graduate and general performance.

Inequality, Poverty among Nigeria Women and Youth and the Challenges of Inclusive Growth in Post 2015 Millennium Development Goals (MDG) (Published)

By all standards, economic growth is expected to reduce poverty, rather poverty in Nigeria has remained high as 112m people representing 67 percent of the population are in abject poverty while GDP rates fell to 7.68 per cent in 2011 from 8.60 in 2010. Income inequality was 0.3594(2010) and -25.9 in 2011(BOS,2012). If Millennium Development Goals (MDG) could affect poverty level in India and China, why has Nigeria’s poverty level remained high? The study hence, examined the challenges of inequality and poverty reduction among Nigerian women and youth with focus on inclusive growth in post 2015 MDG. Content analysis of secondary literature was undertaken to address the problem of the study. Findings indicated that poverty in Nigeria is not affected due to misdirection of programmes from rural to urban areas, inadequate funding, lack of control, transparency and accountability and inadequate coverage of the poor. The study suggested that entrepreneurial training programmes and capability creation, combined with an all inclusive effort aimed at providing education and health facility, integrated growth, income distribution, and financing land ownership are highly required. Conclusively, poverty in Nigeria can be substantively reduced if an all inclusive approach is adopted covering entrepreneurial training backed with monitoring and accommodation of large coverage of the poor in the programme in post 2015 MDG plans.

Keywords: Entrepreneurship, Inclusive Growth, Inequality, Poverty

Attitudes of Undergraduate Students towards Self-Employment in Ethiopian Public Universities (Published)

With the rapid population growth and expansion of higher learning institutions unemployment of university graduates is a major socio- economic problem in Ethiopia. The main purpose of this paper is therefore, to investigate the attitude of Ethiopia public university undergraduate graduating class students towards self-employment. The population was composed of graduating class students of one government universities in Ethiopia. The data was collected through questionnaire from randomly selected 80 students of Assosa University. The data obtained through questionnaire was statistically analyzed through statistical package for social science (SPSS) version 20. The research result reveals that significant number of graduating class students’ job preference right after graduation was government or private employment and majority of students do not have short- term self-employment plan in the foreseeable future after graduation. Therefore, it’s advised that universities entrepreneurship course should focus practically on development of competencies related to entrepreneurship and cultural awareness.

Keywords: Entrepreneurship, Public University, Self-employment

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