THE RELEVANCE AND ANALYSIS OF BUSINESS ADMINISTRATION GRADUATE TO THE ECONOMIC DEVELOPMENT OF NIGERIA (A CASE STUDY OF IMT ENUGU)
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THE
RELEVANCE AND ANALYSIS OF BUSINESS ADMINISTRATION GRADUATE TO THE ECONOMIC
DEVELOPMENT OF NIGERIA
(A
CASE STUDY OF IMT ENUGU)
ABSTRACT
The objective of this work demonstrated
that business administration and management could develop business
administration graduates to become small entrepreneurship after graduating
although government previous perception of business administration and management
was low, it now reawaked interest in graduating self reliance after graduation
is in tandem with NEEDS, SEEDS and LEEDS policies.
The work however enumerates some source of
finance for a small scale business namely, private savings, friends and
relations. Local loan houses, the qualities of a successful entrepreneur
initiatives, organizing ability and steadfastness, viable business
opportunities for business graduates and the problems they have such as
inadequate financing, inability to cope with technological changes and poor
management skills it therefore, recommended that government should assist
business graduates, inadequate entrepreneur with micro credit facilities
publicizes viable business opportunities and train them. This research work
deals with the relevance and analysis of business administration graduates to
the economic development of Nigeria Using Institute Of Management and
Technology *IMT( Enugu State as its case study. The study aimed of knowing what
roles business administration and management graduates can play in ensuring
adequate economic development of Nigeria. The study was systematically
structured into five chapters, chapter one deals with the introduction of the
work, background of the study and son on. While chapter two deals extensively
with the review of related literature. Chapter three made an exposition of the
research methodology adopted in the study. Chapter four presented and also
analyzed the result with the use of table and simple percentage analysis where
as chapter five which is the last chapter of the study summarized, concludes as
well as recommendation of the study. The research work was confirmed to the
institute of management and technology (IMT) Enugu State.
TABLE OF CONTENTS
CHAPTER ONE
1.0
Introduction
1.1
Background of the
Study
1.2
Statement of the
study
1.3
Purpose of the
study
1.4
Research
Questions
1.5
Significance of the
Study
1.6
Scope of the
study
1.7
Limitation of
study
1.8
Definition of
Terms
CHAPTER TWO
REVIEW OF RELATED
LITERATURE
2.0
Introduction
2.1
The Concept of Business
Administration
2.2
Objective of Business
Administration
2.3
The relevance of business administration
Graduates to National
Economic Transformation
2.4
Viable business Opportunities for Prospective
Business
Administration
Graduates
2.5
An Entrepreneur
2.6
Business education
2.7
Problems Facing Business Graduates in
Business
Operation
2.8
Sources of Finance for Business
Administration
Graduates
2.9
Issues with Traditional Development Policies
References
CHAPTER THREE
3.0
Introduction
3.1
Research
Design
3.2
Area of the
Study
3.3
Population of the
Study
3.4
Sample and Sampling
Techniques
3.5
Instrument for Data
Collection
3.6
Validity of the
Instrument
3.7
Method of Data
Collection
3.8
Method of Data
Analysis
3.9
Questionnaire
Distribution and
Retrieval
CHAPTER FOUR
4.1
Introduction
4.2 Data
Analysis
4.3 Discussion of
Results
CHAPTER FIVE
5.0
Introduction
5.1 Summary of the
Study
5.2
Conclusion
5.3
Recommendations
Bibliography
Reference
CHAPTER ONE
1.0
INTRODUCTION
It is pertinent to
note that business administration is the process of managing every aspect of a
business in order for it to maintain its growth or stability. Depending on the
overall goal of the owner or owners. Business administration provides practical
knowledge, skill and techniques for its graduates at all levels of training.
According to the Nigeria National policy on education (1981:12), business
subjects at the secondary school level includes, accounts, commerce, business
methods, shorthand and type writing. At the tertiary educational level it
involves accounting, financial management, marketing, (distributive education),
secretarial studies (or office education) to mention just a few of them.
Graduates of business administration are expected to be relevant in business
and add value to the economic development of Nigeria they are expected to be
self reliant through job creation after graduation especially now that the
federal government has initiated various economic reform programs, namely,
Needs, Seeds, and Leeds at all levels of government ( federal, state and local)
tit run the economy away from a dual public sector to that of an active private
sector driven by the forces of supply and demand.
Previous negative
publication and government perception about business education had vernment
position. Is that functional education is the panacea to a virile
economy.
It is therefore, the
contention of this work that given the proper direction and encouragement by
the government, business graduates can turn the Nigeria economy around to
reflect the new government economics dreaming and visions encapsulated in
NEEDS, SEEDS and LEEDS, by investing substantially in small scale industry
(SSI), provision of employment opportunities to the unemployed youths and
training them to become self-reliance, providing essential service to the
public and assisting the government on proper formulation on functional
business education. This study will therefore look at the various ways by which
business administration graduates can add value to the economic development of
Nigeria.
1.1 BACKGROUND OF THE
STUDY
In the year 1873, (IMT) Institute of Management and Technology was established
by the ministry of education of the state. This institution is indeed a brain
work of the ministry of education who then saw the need for the institution to
exist in order to ensure that the children of the state must acquire basic
education to the graduate level. The process that led to the establishment of
this institution was very rigorous mainly due to its complication as there was
some internal factors that served as an impediment towards the establishment of
the school. The problem ranging from political crises, ideological diversity,
economic problems among others which would have prevented the realization of
this institution by the house of Assembly and the Ministry of education having
seen the need for education of their children agreed in 1972 that the
proceeding year shall witness that birth of the institution and for now come to
pass at the designated year 1973.
The institute of management and technology Enugu is consisted of many
departments ranging from, business administration, public administration,
marketing department, mass communication department, department of accountancy,
electrical engineering, agric engineering among many others.
The Institution is also hierarchically structured for effective execution of
its goals and objectives. The head of the Institution is the Rector followed by
the Deputy Rector, registrar, Deputy Registrar, Bursar, Chief Security, senate,
Heads of department and Lecturers among many others who work interrelated to
achieve the goals of the institution.
The school was formally situated at Abakiliki road Enugu state but has moved to
the permanent site at Independence Layout Enugu to continue its assignment.
The school has recorded several success which has boasted the image of the
institution. But recently, the institution experienced some set back over
managerial incompetence which the students revolted during in leadership of
Prof. Edwin Onyenege. But a new management crew has emerged to pilot the
affairs of the institution under the leadership of Mike Iruege and the peace of
the institution is seriously working hard to attain its pre-determined goals
and objectives.
1.2 STATEMENT OF THE
PROBLEM
In spite of the numerous courses undertaken by the business administration
graduates and the knowledge they acquire from it, yet they display low level of
business acumen in the business world. Obviously, business administration
graduates are expected to be self reliance through job creation after
graduation to turn the economy away from a docile public sector to that at an
active private sector driven by the forces of supply and demand realized. They
have mainly expected government to provide jobs for them.
Other factors that serve as problem are lack of adequate funds to start up a
business, poor economic environment poor attitude at business graduates towards
business operation, lack of motivation by government. Again the monotonous
nature of Nigeria business environments another factor wehich tends to dissuade
world, but making business environment predominantly for non graduates to
operate proudly.
1.3
PURPOSE OF THE STUDY
The purposes of the
study are:
a.
The primary purpose of this study is to examine the relevance of business
administration graduates to the economic development of Nigeria
b.
To know how business administration graduates can turn the economy around in
order to ensure economic development
c.
Finding out the principle guiding business graduates and economic development
of a nation.
d.
To evaluate the importance of business administration scholars in Nigeria.
e.
Providing adequate information
f.
To asses and evaluate why people should study business administration and
management
g.
To know the relationship between business administration students and economic
development
1.4 RESEARCH QUESTION
This
research seeks to know the various research question put forward.
a. Can
business administration graduates add importance to the economic development of
Nigeria?
b. Is a
business administration graduate competent enough to develop the economy of
Nigeria?
c. How do
business administration graduates operate in the business world?
d. Are
the special areas where business administration graduates can operate in
business?
e. Is government
given the necessary support for business administration graduates to succeed in
business world?
1.5 SIGNIFICANCE OF
THE STUDY
a.
it will increase and expand the knowledge of prospective
student of business administration on economic development.
b.
it will proffer solution thereby helping to solve problems
arising from business operation as well economic development of Nigeria.
c.
it will definitely serve as a reference point of
criticism for further research.
d.
it will suggest and also proffer solution which will
moderate and regulate business operation and economic development of Nigeria.
1.6 SCOPE OF THE
STUDY
The study was concentrated on the relevance and analysis of business
administration graduates to the economic development of Nigeria. The study will
also go further to deal with the concept of business administration objectives
of business administration, viable business opportunities for prospective
graduates, sources of finance for business administration graduates, problems
of business administration graduates to wards realizing the economic
development of Nigeria among many other areas that will be treated.
1.8 DEFINITION OF
TERMS
This
section seeks to know the key terms used in the study.
a.
Business this is defined as any undertaking in which one involves in order to
ear a living.
b. Graduate:
this is defined as a person who has passed through university or polytechnic or
any other higher institution of learning and has been approved by the institution
of being learned in a particular field of study
c. Business:
this is defined as any undertaking in which one involves in order to earn
living.
d. Business
Administration: consist of the performance or management of business
operations and thus the making or implementing of major decision.
e. Administration:
This is defined as the universal process of organizing people and resources
efficiently so as to direct activities towards common goal and objectives.
f. Economic
Development: this occurs when there are quantitative and qualitative
improvement in all or almost all sector of an economy and which can be
sustained.
g. Development:
Goulet (1998) is a normative experience. It involves for those who propose
it as for those to whom it is proposed, central value choices about the meeting
of life (p. 301).
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