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Entrepreneurship has been positioned as a panacea to the economic development challenges facing Nigeria. Subsequent Nigerian governments have sought to foster a vibrant entrepreneurial class by investing in entrepreneurship education at the tertiary level. While that investment has yielded increased levels of entrepreneurial participation, it has had limited impact in terms of entrepreneurial business growth. Thus, there emerges a need to understand what factors influence entrepreneurial business growth in Nigeria and how successful Nigerian entrepreneurs learn to grow their businesses to inform future national human resource development (NHRD) policy. Consequently, this study explored how successful entrepreneurs in Nigeria learn to grow a business and identified what knowledge, skills, and abilities they used to facilitate business growth. In addition, the study explored the factors that Nigerian entrepreneurs thought influenced business growth. Using grounded theory as a research methodology, I conducted interviews with twenty successful Nigerian entrepreneurs to obtain data. The data indicated that successful Nigerian entrepreneurs are self-directed learners who engaged in a range of learning activities in which micro-learning processes incidentally occur. Further, participants identified eight task-related knowledge, skills, and abilities they relied on to succeed. They described five factors they believed influenced entrepreneurial business growth and noted that these factors influenced business growth in different ways. The data suggested that the human capital of the entrepreneur mediates the influence of the business environment on enterprise growth. Further, the data strongly indicated that the human capital of the entrepreneur, conceived as discrete task-related knowledge, skills, and abilities developed over time, was the most important factor that determined whether business growth occurred. Overall, the study advances our understanding of the role of learning in entrepreneurial growth in Nigeria and highlights the need to develop holistic NHRD policies that seek to develop the human capital of the entrepreneur, and the institutional environment to increase entrepreneurial success in Nigeria and engender economic development. The study offers recommendations for policy makers, educators in Nigerian Universities, entrepreneurs at large, and suggestions for future research.
Entrepreneurship has become a veritable tool for economic development. It plays a crucial role in creating jobs, reducing poverty, increasing competition and pomoting innovations. Nigeria is endowed with abundant human and material resources that can be used to build a strong, virile and prosperous economy. There are bountiful opportunities for entrepreneurship development especially through micro and small business activities. But unfortunately entrepreneurship development has been marred with series of problems. There are several factors militating against entrepreneurial activities which include lack of accessibility for finance for business start up, inadequate managerial and technical knowledge for sustaining the business, weak and inadequate infrastructural facilities, lack of government support and inconsistency of policies for entrepreneurial development. Therefore, the objective of this study is to identify and examine factors influencing entrepreneurship development at both individual and aggregate levels in Nigeria.
Chapters in this book contribute to our understanding of the theory, structure and practice of entrepreneurship in diverse African countries. Case studies examined include: African multinational banks and businesses, female entrepreneurs, culture and entrepreneurship, finance and entrepreneurship and SMEs.
Sustainable Entrepreneurship stands for a business driven concept of sustainability which focusses on increasing both social as well as business value - so called Shared Value. This book shows why and how this unique concept has the potential to become the most recognised strategic management approach in our times. It aims to point out the opportunities that arise from putting sustainable entrepreneurship into practice. At the same time, this book is a wake-up call for all those companies and decision makers who underestimated Sustainable Entrepreneurship before or who are simply not aware of its greater dimension. Well structured chapters from different academic and business perspectives clearly outline how Sustainable Entrepreneurship contributes to solving the world's most challenging problems, such as Climate Change, Finance Crisis and Political Uncertainty, as well as to ensuring business success. The book provides a framework of orientation where the journey might go: What can a successful concept of SE look like? What are the key drivers for its realisation? What is the role of business in shaping the future of our society? The book also presents best practices and provides unique learnings as well as business insights from the international Sustainable Entrepreneurship Award (www.se-award.org). The Sustainable Entrepreneurship Award (short SEA) is an award for companies today who are thinking about tomorrow by making sustainable business practices an integral part of their corporate culture. Companies that receive the SEA are being recognised for the vision they have shown in combining economic and sustainable responsibility.
This book outlines the unique challenges and opportunities of doing business in Africa, analysing how varying degrees of development across its countries affects entrepreneurship. Taking into account historical and cultural contexts, the authors approach the topic by evaluating the different possibilities of business opportunity in Africa. Insightful contributions explore an extensive range of African countries, discussing both formal and informal entrepreneurship, as well as the different factors that influence the growing economy of Africa. African Entrepreneurship will be of interest to anyone researching the potential of doing business in Africa, as well as entrepreneurs and policy-makers looking to expand their knowledge on how businesses are managed in this region.
This book presents the principles governing the entrepreneurial and innovation mindset and processes of people working in the small business sector and other organisations, based on research findings from real-life issues and challenges that face entrepreneurs on a daily basis. Entrepreneurship development forms the bedrock of business evolution and economic growth in many nations: indeed, without entrepreneurship, there can be no real economic development. This book provides students with an accessible introduction to innovation and entrepreneurship, examining the different forms of innovative and entrepreneurial practice including commercial and social enterprise. The book introduces some of the major business management issues faced by entrepreneurs and small business owners. It also introduces readers to such concepts as opportunity recognition and the ability to act upon opportunities and problem solving. Throughout, the book is founded on an evidence base drawn from the author's own years of teaching and research. An essential read for students of entrepreneurship and innovation at both undergraduate and postgraduate levels, Principles of Innovation, Entrepreneurship and Sustainability: An Evidence-Based Approach is an invaluable resource for anyone seeking to understand the realities of innovation and entrepreneurship in a more empirical context. Featuring a comprehensive range of case studies, reading lists, glossaries and discussion questions, this book provides students with all they need to develop their understanding of these exciting topics. The book is accompanied by digital learning resources including PowerPoint slides and test questions, complete with answers, for all chapters.