THE EFFECT OF ENTREPRENEUR’S QUALIFICATION ON SMALL SCALE BUSINESS PERFORMANCE IN NIGERIA (A STUDY OF SELECTED MANUFACTURING COMPANIES IN RIVERS STATE).
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THE EFFECT OF ENTREPRENEUR’S QUALIFICATION ON
SMALL SCALE BUSINESS PERFORMANCE IN NIGERIA
(A STUDY OF SELECTED MANUFACTURING COMPANIES IN
RIVERS STATE).
ABSTRACT
The study
examines the effect of entrepreneurs’ qualification on small scale business
performance in Nigeria. The respects were 20 drawn four industrial sectors,
tailoring bakery, electronics and block mounding. The spearmen’s coefficient of
rank correlation was employed for the analysis of data in the study. The study
revealed that a significant relationship exist between the level of education
and entrepreneurial success in small scale business. Also, this is a
relationship between experience in related trade and entrepreneurial success.
It is concluded that small firms must face challenges of survival and growth.
However, previous experience in related trade of entrepreneurs will contribute
greatly to the growth and development of small scale enterprises.
TABLE OF CONTENTS
Title i
Dedication ii
Abstract iii
Acknowledgment iv
Certification v
Table of Contents vi
CHAPTER
ONE
1.1 Introduction/background
to the study 1
1.2 Statement
of the problem 5
1.3 Purpose
of the study 6
1.4 Research
questions 7
1.5 Research
hypothesis 8
1.6 Significance
of the study 8
1.7 Scope
of the study 10
1.8 Limitation
of study 10
1.9 Conceptual
definition 12
1.10 Organization
of the study 13
CHAPTER
TWO: LITERATURE REVIEW
2.1 concept
of entrepreneurship and small scale business 16
2.2 features
of small scale business 19
2.3 reason
people take the entrepreneurial challenge 23
2.4 importance of entrepreneurship to social
economic development 24
2.5 problems/constraints of small scale business 30
2.6 qualification to success in small scale
business 37
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research design 38
3.2 Sample procedure/size determination 39
3.3 Data collection method 41
3.4 Operational measures of the variables 43
3.5 Data analysis 44
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Questionnaire distribution and collection 45
4.2 Data presentation and analysis 46
4.3 Testing of hypothesis 48
CHAPTER FIVE: DISCUSSION,
CONCLUSION AND RECOMMENDATIONS
5.1 Discussion of findings 50
5.2 Conclusion 52
5.3 Recommendations 54
5.4 Biography 55
CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The
term entrepreneur has been defined by many scholars in different dimensions but
with the single trade of risks taker and organizer/decision maker or taker
running through of all them; and profit being ultimate aim and reward of their
adventure. However, what seems to be a problem about this understanding is
about what qualifies an entrepreneur operate a business and become successful.
Studies
conducted so far revealed certain qualifications that are necessary for entrepreneurs’
performance in small scale business organization. They include: risks bearing,
decidedness in decision making, energetic, individual responsibility,
anticipation of future possibilities, organization skills, self-directed,
self-nurturing and self-confidence, action oriented, ability oriented and
ability to deal with future.
While
there is a general consensus that the most unique aspect of entrepreneurs is
they should have the courage to begin a new enterprises, there is less than
unanimous agreement as to what factors are most important in their
qualification to determine their success or failure. However, one thing that
emerged from all these debates is that the generally accepted prerequisites to
success in any entrepreneurship are ability to source for genuine business
opportunity, managerial ability and adequate capital of importance as suggested
by McOliver (1998) is that the entrepreneur must be aware and have knowledge
about his macroeconomic environment and study it where necessary, be fully
acquainted with the parameters governing his performance, well-being and
direction; have knowledge about some basic facts such as inflation, monetary
and fiscal policies, type of inflation (cost her demand pull), deficiencies,
leaking example in the economy and frequent policy changes.
McOliver
saw the entrepreneur through the eyes of either being the Chief Executive or
President of the organization. He is of the opinion that he should be seen as
organizational leader, which he should be able to impose the function of:
Attaining
present result based on previous decisions and planning for the future, based
on present circumstances; maintaining and developing the organized capability,
which makes achievement possible; coordinating the specialist functions that
should enable his firm to perform the technical task in marketing, R&D,
manufacturing, finance control, and personnel, especially in the face of
changing technology and dynamic industry trend.
To
be able to perform these functions, he opined that the entrepreneur must
possess certain skills. These include conceptual skills and technical skills,
which will transform the entrepreneur into a taskmaster, mediator, and
motivator. It requires that he have appropriate and adequate background to be
able to acquire the ability in the diction and the motivation of people and at
the same time engage successfully in the elevation of their performance.
Making
it a compulsion for him to be people oriented and at same time productivity
oriented, and in addition being able to integrate functions and mediate
conflict bound to occur in an environment, which beclouded with differing
perceptions and values and provincialism of technical specialism. To integrate
indicating a capacity to combine the economic, human and technical and moral
aspects of the organization activity and selling the organization as it were to
its immediate and distant communities.
In
the light of the foregoing statement, the study will examine the effect of
entrepreneurs’ qualifications on small scale business performance in Nigeria.
Entrepreneurs in bakery, tailoring, printing and block molding business will be
of immediate interest in the study.
1.2 STATEMENT OF THE PROBLEMS
Entrepreneurship
can be seen as the willingness and the ability of an individual to seek out an
investment opportunity, establish an enterprise based on this and run it
successfully. It is actually concerned with crating opportunity and meeting the
needs of individuals, and it is a process of identifying gaps in one’s
immediate environment (community and society at large) and bringing together
resources in an innovative way to fill these gaps.
Scholars
are saying that the success of these survival strategies to grow and develop
the small businesses may prove abortive due to:
The
current uncertain business environment via: the macroeconomic issues, political
issues, the policy process issues and consumer confidence issues; also, lack of
learning system that disallowed and disempowered entrepreneurs from
consistently spotting opportunities and extract value in a short period of time
and thus losing focus on long term strategy; inability to overcome challenges
of extreme uncertainty; highly dissatisfaction gaps and lack of previous
knowledge of the business he is embarking upon could also pose another great
deal of problem.
In
the light of the above, the problem, which attracts our attention, is the type
of entrepreneur’s qualification that could improve small scale business
performance in Nigeria.
1.3 PURPOSE OF THE STUDY
The
objective of this study is to identify some variables that are relevant to
supply of capital, managerial ability and genuine business opportunity, and to
measure the extent to which these variables are likely to contribute to the
entrepreneurs qualification in the small scale business enterprises such as:
bakery, tailoring, printing and block molding in determining their success or
failure in entrepreneurship. Given this objective, the purpose of this are
stated as follows:
1. To
determine the relevance and appropriateness of entrepreneur’s qualification to
improving small scale business performance.
2. To
analyze the factors affecting the growth and development of small scale
business in the Nigeria uncertain business environment.
3. To
show the basis of success of highly qualified entrepreneurs in the uncertain
environment of the Nigeria economy.
4. To
suggest measures that will improve small scale business performance to gain
competitive advantage in the marketplace especially in the area of qualitative
customer services.
1.4 RESEARCH QUESTIONS
The
following research questions will be necessary for the research endeavours
1. Determine
the factors that qualify entrepreneur’s small scale business performance?
2. Indicate
the relationship between entrepreneur’s qualification and entrepreneurial
success in small scale business?
3. Are
the basic qualification an entrepreneur should possess if he has to perform
well?
4. Assess
the effects of entrepreneur’s qualification into effective performance and ineffective
performance?
1.5 RESEARCH HYPOTHESIS
H01:
There is no relationship between Entrepreneurial success and type of product
handled.
H02:
There is no relationship between experience in related trade and
entrepreneurial success.
1.6 SIGNIFICANCE OF THE STUDY
The
significance of the study derives from the following: it would provide useful
information to the various organizations on how to effectively utilize entrepreneur’s
knowledge to realize improve productivity performance; promote quality, customer
satisfaction, and customer value and customer loyalty. The outcome of this
would without doubt bring about competitive advantage to the realization of the
organization’s set objectives b it small scale or large scale business
organization.
By
highlighting the limitations of entrepreneurship to promote productivity
performance of small scale business, the study will provide useful information
to manufacturers or marketers (both public and private) on how to use business
strategy to attain set goals.
The
study will not only provide useful information to companies on how to improve
productivity performance but also induce loyalty against the government
regulatory authority if they have to stay in business and enhance improved
performance. As a result, it will charge “thrives” firms have their successes
underpinned by unceasing environment scan; tracking shifting dissatisfaction
gap, unlearning; and leaning investment; values, strategy and short term
opportunities; obsessive questing across eh value chain; human resources and
strategy fit; flexible organizational structure and generally more open
internal communication philosophy and the leadership style that focuses on the
long term and values while capturing short term opportunity.
The
study will serve academic purpose as it will serve a data bank to those who
will carry out related studies in future, and moreover can serve the basis for
further studies.
1.7 SCOPE OF THE STUDY
The
study focuses on the effects of entrepreneur’s qualification on small scale
business performance. Tailoring, block molding, bakery and printing are
selected for the study. But to be comprehensive, it covers the objectives; the
entrepreneurial challenges/strategies to small scale business performance.
1.8 LIMITATION OF THE STUDY
There
are some limitations to this study.
Firstly,
some of the individuals approached for information decline to complete the
copies of questionnaire or be interviewed. Further the problem of secrecy in
official quarters and security implications of divulging sensitive information
may pose some difficulties in extracting honest and appropriate information
form the firms enlisted for this study. This will limit the information
available for the study.
Secondly,
the study would have been more extensive if the medium scale enterprises and
perhaps large enterprise were included. However, constraints of time and budget
may also be indicated as problems. But the researcher may perhaps not afford
the cost entailed; hence the restrictions to only one type of entrepreneurship
where our choice of sample and representation will be possible.
Finally,
the study is going on a time when other academic work place much demand on the
researcher. This development is posing a lot of problems to the successful
completion of this study. In spite of these limitations, it is hoped that our
determination to succeed would make the study relevant, not only for the
expansion of the frontiers of knowledge but for policy formulation and
implementation.
1.9 CONCEPTUAL DEFINITIONS
Five
terms need to be defined in order to eliminate possible confusion;
entrepreneur, entrepreneurship, entrepreneurs qualification, success and
failure.
An
entrepreneur is an individual who establishes and manages a business for the
principal purpose of profit and growth. He is characterized principally by
innovative behaviour and will employ strategic management practices in the
business.
Broadly
defined, entrepreneurship is the appropriation and management of human and
material resources with the goal of creating, developing and implementing
solutions responding to the needs of people.
Entrepreneur’s
qualifications are the prerequisites such as a genuine business opportunity,
managerial ability and adequate capital the entrepreneur should have to succeed
in any business notwithstanding the nature of the business environment, that
age of the business and his initial capital.
A
successful entrepreneur is one who has doubled his turnover and/or asset size
since the inception of his business, notwithstanding the age of his business
and his initial capital.
Similarly,
a business is considered a failure if it has not achieved this feat.
1.10 ORGANIZATIONAL OF THE STUDY
The
project will be organized into five chapters.
Chapter
one background of the study. This includes a general introduction, statement of
problem, objectives of study, research questions, research hypothesis,
significance of the study, scope of the study, and limitation of the study.
Chapter
two review of relevant literature. This chapter is devoted to an extensive
review of the relevant literature on the subject matter of study.
Chapter
three the research methodology. The methods, techniques and procedures followed
in collecting and analysis the data will be explained in this chapter through;
research design, sample procedure/sample size determination, data collection
methods, operational measures of the variables and decision rule.
Chapter
four, data presentation and analysis. In this chapter, the researcher will
present and analyze the data collection from the respondents.
Chapter
five, conclusion. This chapter will deal with the summary of findings, some
selected recommendation and conclusion of the study.
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