ENTREPRENEURSHIP EFFECTIVENESS IN SMALL SCALE INDUSTRIES (A CASE STUDY OF MACON’S BAKERY INDUSTRY ENUGU)
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ENTREPRENEURSHIP
EFFECTIVENESS IN SMALL SCALE INDUSTRIES
(A
CASE STUDY OF MACON’S BAKERY INDUSTRY ENUGU)
ABSTRACT
The
role of small scale industries to any economy is indispensable recently. His
emphasis has been on measures to accelerate their expansion and growth. To give
this effort proper direction, it is identifiable that the key ingredient in
translating this dream into reality is effective
entrepreneurship. The research is able to
reveal the characteristic nature of small scale industries, how small scale
industries are financed and some of them are from personal savings and from
relatives, the causes of failure of small scale industries covered also
the importance and the needed factors to be considered before setting the
industries. In this regard, the study laid much
emphasis on the whole idea of entrepreneurship effectiveness in small scale
industries. The solution and recommendations are subsequently based on the
observation and research findings for effective entrepreneurship on small scale
industries.
TABLE
OF CONTENTS
Abstract
Table
of
Contents
CHAPTER
ONE
INTRODUCTION
1.1 Background
of the study
1.2 Statement
of the
Problem
1.3 Purpose
of the Study
1.4 Research
Questions
1.5 Significant
of the
study
1.6 Scope
of the study
1.7 Limitation
of the Study
1.8 Definition
of Terms
CHAPTER
TWO
LITERATURE
REVIEW
2.1
Characteristics of small scale
industries
2.2
The importance of small scale industries
2.3
Causes of Failure in Small Scale Industries
2.4
Factors to be Considered in Sitting small scale
industries
2.5
Method of Financing Small Scale Industries
2.6
Problems of Small Scale Business
2.7
Problems of Staff
Training
2.8
Marketing
Problems
CHAPTER
THREE
RESEARCH
DESIGN AND METHODOLOGY
3.1
Research Design
3.2
Area of Study
3.3
Population of the study
3.4
Sample and Sampling Procedures
3.5
Instruments of Data
Collection
3.6
Validity of
Instrument
3.7
Reliability of Instrument
3.8
Method of Data Collection
3.9
Method of Data Analysis
CHAPTER
FOUR
DATA
PRESENTATION AND ANALYSIS
4.1
Presentation and
Analysis
4.2
Summary of Findings
(Result)
CHAPTER
FIVE
DISCUSSIONS,
RECOMMENDATIONS AND CONCLUSIONS
5.1
Discussion of Findings (Results)
5.2
Implications of the Research Findings
5.3
Conclusions
5.4
Suggestions for Further Studies
Bibliography
Appendix
CHAPTER
ONE
1.0
INTRODUCTION
The roles played by small scale industries in the growth of any economy cannot
be over emphasized. This has been the singular reason why both government
groups and individuals in business always place greater emphasis. on the unique
human activity. This also accounts for its dominating prominence in government
policy statement. Much multinational or even supranational business today
stated as small scale business. This therefore implies that small scale is the
beginning of every big business.
The present day America is the richest country in the world judging by the
economy. The history of industrialization in this God’s own country has shown
the absolute importance of small scale industries in the economy and scheme of
things. careful study and investigation has released that in America, only 1/10
of 10% of the total number of firms in the economy employ more than 2,500
workers. It is also further show that 89% of the total firms in the economy
employ less than 100 employees, and 65% having less than 20 employees in their
payroll.
As a standard of judgment using number of employees, this has a least proved
that in spite of here economic glory, America is not land of giant
corporations. Many countries of today like, South Korea, Taiwan, Honkong and
Singapore are making enormous successes in the world export industrial market
as a result of emphasis on small scale industries.
As a way out, the efforts of every segment of Nigerian government for small
scale industries enhancement cannot therefore be surprising thus, our part
administrators, national planners and development project imitators cannot
excuse their lack of careful planning in this regard, therefore, following the
result of these falterers in our national development economy and planning
strategy, the continue ineffectiveness of our small scale industries have
promote the reason for this work. The research work therefore is an attempt to
looking into a key and embodying factor in small scale industrial
effectiveness.
Entrepreneurship effectiveness in small scale industries the scope of the
project would be limited to a case study of Macon’s Bakery industry in Enugu
state capital. The general opinion reveled that in spite of its key roles and
functions in the success of any ventures or business adequate entrepreneurial
impact has neither been felt nor matched the search for small-scale industries
enhancement and growth.
Investors have not shown commendable interest to accept entrepreneurial role,
and this has led to a low venturing rate in spite of all this, there are still
multifarious prospective areas in the manufacturing, merchandising and service
sectors of the economy that exist, this was actualized through the various
efforts made by the government, private individuals, industrial and financial
institutions and others commercial agencies towards including small scale
enterprise. For effectiveness, there is need to make adequate appraisal of
entrepreneurial role towards funding of the enterprises to actual managing.
These measures will ensure that the entrepreneurs achieve the reward profits.
As we said earlier, small is the beginning of large scale, the effort on small
scale enterprises were stepping-stones to large-scale corporation.
Prosperous individual like Ekenedirichukwu, Ifesinachi, Dantal, Hamza
Adebowale, Samusie and a host of others started as a small scale business. It
is a waste of time for one to keep waiting for large capital to accumulate
before establishment thus the statement “from grass to
grace”.
Taking the manpower and development needs of this country into consideration,
any capital savings must be reinvested for further capital formation in the
best way for multiplier effect on the economy towards. Small-scale enterprises
promotion. In effect, our dreams will come true and fruitful if the necessary
linkage between small-scale enterprise and small- scale entrepreneurship is
created.
1.1
BACKGROUND OF THE STUDY
The idea has been that the glory of any economy, whether industrialized or
underdeveloped depend very much on how well organized and managed the small
scale industries are given. This fact, most of the developed countries of the
world are champions of small-scale industries.
In the real sense, the central objectives of the small-scale enterprise are to
make profits for the owner or manager/entrepreneur for expansion purpose. As a
result, there should be equilibrium between the goals of the managers and those
of the worker to achieve desired psychological, economy and entrepreneurial
effectiveness. Therefore, profit is a reward for an effective entrepreneurship.
It is a foundation to small- scale industrial development, which is
consequently and acid text for entrepreneurship effectiveness.
Therefore, government being very keen, has to establish the peace of industrial
funding and management to attain the much needed entrepreneur effectiveness.
Other programmes aimed at promoting entrepreneurial development and enterprises
in small- scale should be considered by the government.
Furthermore, entrepreneurship effectiveness is a primary function of ventural
personal evaluation to determine entrepreneurial qualities, taking decision
creativeness ingenuity, innovative mind and skill minimizes the risk and
optimizes reward. It is there based on the above establishment
facts of entrepreneurial and small business circumstances that the project
writers intend to build some of the assumption underlying the project topic.
The
Historical Background of Down Function Group of Company Nigeria Limited
Down function which was sited at 8 Nza street Independence layout Enugu
established in 1970 for the purpose of public relation services. This involves
such things as advertising and promotional services, that is they help firms
and organizations. They were into consultation with people who could represent
what they actually want to portray as per calendar advertisement and business
advice and services. Through the years it becomes important and necessary that
they should engage into management consultancy, which deals with fundamentals
management concerns as business policy and management of organizations. The
reasons for diversion is to enable graduates of management who needs some years
of practical training and managerial leadership to properly mature and
graduates into management consulting profession. When
it became known of their consulting services that is towards management
upliftment, they now started practicing as management consultants tendering
independent advice and existence to their clients. But them, there was no code
of conduct bye-lack to regulate the moral and ethical standard of individual
consultants.
In view of this, the firm continued on consultancy services till date at list
to make sure that management in their management problems could reach out for
their services. once they play the role of improving the quality and enhancing
the duty of the management consulting, research and training and also for the
performance of this duty providing management advices and consultancy services
to organization both large, medium and small as well as achieve their
objectives.
1.2
STATEMENT OF THE PROBLEM
Despite
all efforts made by individuals, groups and government to ensuring greater
effectiveness in the operation, funding and management of small scale business,
the overall successes recorded by some of these small scale business operators
are still nothing to write home about on the average, only very few usually see
the light of the day soon after coming on streams.
This proper performance has been attributed to a lot of problems encountered by
small-scale business such as problems include:
1. Inadequate
funding: this refers to the degree of sponsorship, funding and support which
the prospective or financially buoyant businessmen renders to willing young
graduates who which to go on their own if adequate fund is rendered to an
individual who is willing The venture rate on small scale industries will be
determined.
2. Inadequate
managerial ability: this involves lack of management planning i.e improper
planning carried out by the entrepreneurs. This examines all the major causes
of success and failures of most small-scale entrepreneurs. It also determines
the level of educational and business awareness of prospective entrepreneurs
and also the degree of feasibility studies carried out.
3. Liquidation
is a stated problem: it is true that the establishment is easy to operate, so
it is easy to go out of operation small scale business is often operated with
limited capital that is why in most of our various industries liquidation is
certain to occur.
4. The
inappropriate technology: the technical know how applied by small-scale
business operators is antiquated. There is no adequate control technique. like
in accounting, organizational performance review and functional feed-back
mechanisms they the focus of this write up therefore is to asses the degree of
sponsorship or availability of funds for small business units and to ascertain
the pilot role of government and its numerous agencies towards development of
small scale business. And to evolve and recommend measures aimed at ensuring
effective entrepreneurship in small-scale industries.
1.3
PURPOSE OF THE Study
1.
To identify means of acquiring metal capital for the business.
2.
To examine the major factors militating against small business.
3.
To know the sources of government findings available to the organization.
4.
To investigate the financial benefits from any organization financial
institutions.
1.4
RESEARCH QUESTIONS
1.
How do you help to acquire initial capital?
2.
what are the major factors for the incessant failure of small business.
3.
What are the sources of government funding available to the organization?
4.
Have you benefited from any organization or private financial institution?
1.5
SIGNIFICANT OF THE STUDY
Entrepreneurship
effectiveness in small-scale industries is not merely a matter of enterprises
underlying interest is to improve industries performances and the role of
small-scale industries. It cannot be argued that the significance of this study
is for academic requirements, But must be borne in mind that learning
institution are established to produce capable entrepreneurs for the efficiency
of small scale industries.
At the end of this work a significant effort will be highlight the ideal
circumstance for entrepreneurial effectiveness. The organizational risk bearest
as well as risqué management would be opportune to avoid themselves of such the
prospective enterprises could make themselves available with materials that
could broaden enlightens on entrepreneurial risk path.
Truly the awareness this work is bond to create would no doubt stimulate self
employment among our young and potential graduates, induce small scale
entrepreneurial growth as well as promote the productive capacity of our
economy.
Therefore, this study the economic and business of our people, it is
significantly an enlightenment into a small business and potentials of
entrepreneurial personality for effectiveness.
1.6
SCOPE OF THE STUDY
While
writing the project efforts are being make to ensure that all necessary
material will be used for successful research task.
Again struck care will be taken, based on the limited information and available
data to this discourse entrepreneurship effectiveness in small scale industries
a case study of Macon’s Bakery Industry Enugu.
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