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The Effects Of Entrepreneurial Characteristics On Business Performance
[A CASE STUDY OF APEX PAINT LTD]
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2.4 Originality of ideas
This will be discussed extensively under the “what†of entrepreneurship. This is also a very important characteristic of an entrepreneur. He must develop the ability to be original and innovative. When there is deviation in the sales level, he changes quickly to the customer`s demand. He is flexible enough to change his products or service. He comes up with ideas in developing new products, new market territories, new distribution channels. But an uncreative entrepreneur cannot withstand competition. Originality and idea is what make an entrepreneur to disturb market and challenge big established business (Basheer, 2005).
2.5 Leadership
After an entrepreneur established an organization, the organization cannot operate in isolation. Both skill and unskilled labor may be required to help entrepreneur in the organization to achieve the desired goals. Regardless of the peoples working in that organization, the entrepreneur has to motivate and control them and, make them to do what the employee may not ordinarily do, in order to achieve his objectives. At times entrepreneur has to use external forces and be rigid to his employee, but most of the time he has to be democratic and flexible in the use of reward punishment system as revealed by different situation (Basheer, 2005).
2.6 Future oriented
An entrepreneur is someone who is future oriented. He has foresight and is perceptive. He usually view project on a long term basis and hence takes decision as such. He is not interested in establishing an organization that will collapse in few years of operation. But establish an organization that will give him an everlasting support. Though, he may start from sole proprietorship his desire is for the business to grow and if possible, become limited company in future. The entire so called big establishment like united African company (UAC), lever brothers, John Holt, Nestle food, Beceham, Julius Barger, p.2, etc. is the invitation of single individual. An entrepreneur therefore makes a plan for a long time project and working towards goals that may be quite long in the future.
2.7 The Effect of Entrepreneurial Characteristic on Business Performance
A number of attributes have been suggested as predicators of central behaviors with some degree of consensus. There studies have tended to examine in some detail the synonyms and adjectives used to describe entrepreneurs since they tend to identify what makes an entrepreneurial personality characterized by certain traits. For instance, Rasheed (2002) suggested that the following are the most relevant: need for achievement, self-confidence and internal locus of control, need for independence and persistence. The opportunity, gathers the necessary resource, creates, and is ultimately responsible for the performance of the organization. However, the above definitions should not be taking to discount the importance of the traits and characteristics of the entrepreneur from the perspective of their propensity to act and the influence of the social, cultural, psychological, political and economic contextual factors.
For instance, such factors as the need for achievement (McClelland, 1965); risk taking propensity (Brockhaus, 1980); locus of control (Brockhaus,1982); desire for personal control of business (Sexton and Bowman, 1983); opportunity seeking, risk taking and innovation, demand for efficiency and product quality, persistence in searching for suitable technology, commitment, information seeking to enhance production efficiency, goal setting, systematic planning and monitoring, persuasion and networking with trade group and associations, support institutions and large – scale industries (McClelland,1969) and united nations center for transnational corporation (UNCTC), 1988) have been identified and examine as possible traits or characteristic associated with entrepreneurial behavior.
According to Rasheed (2002) Risk taking facilitate venturing into lucrative venture that enhance profitability while leadership enhances the effective management of a business enterprise and forecast, facilitate planning, originality facilitate creativity and strategy formulation which enhances a business enterprise to have a competitive edge.
2.8 THEORETICAL FRAMEWORK
2.8.1 Entrepreneurship theories and Empirical research
Entrepreneurship theories and research remain important to the development of the entrepreneurship field. This research examines six entrepreneurship theories with underlying empirical studies. These are:
(1) Economic entrepreneurship theory
(2) Psychological entrepreneurship theory
(3) Sociological entrepreneurship theory
(4) Anthropological entrepreneurship theory
(5) Opportunity-Based entrepreneurship theory
(6) Resource-Based entrepreneurship theory.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTThe study examined the effect of entrepreneurial characteristics on business performance. The main objectives of the study were to find out the effect of entrepreneurial characteristic on business performance with the case study of APEX paint Ltd. The research also described the performance of the business based on the characteristics exhibited by the entrepreneurs. Quantitative research method was used in the study. The total population of the study is 290, while relevant data was gathe ... Continue reading---
QUESTIONNAIRE - [ Total Page(s): 3 ]QUESTIONNAIRETHE EFFECTS OF ENTREPRENEURIAL CHARACTERISTICS ON BUSINESS PERFORMANCE (Apex Paints Ltd)COLLEGE OF HUMANITIES MANAGEMENT AND SOCIAL SCIENCESDEPARTMENT OF BUSINESS AND ENTREPRENEURSHIPKWARA STATE UNIVERSITY, MALETE.Dear Sir/Ma, This questionnaire is designed to acquire information on the effect of entrepreneurial characteristics on business performance in Nigeria. In order to enable me carry out this research work. All information collected from you shall be treated with ... Continue reading---
TABLE OF CONTENTS - [ Total Page(s): 1 ]TABLE OF CONTENTSContentsCertification Declaration Dedication Acknowledgements Table of Contents List of Tables Abstract CHAPTER ONE INTRODUCTION 1.1Background of the Study 1.2 Statement of Research Problem 1.3 Research Aim and Objectives 1.4 Research Questions 1.5 Research Hypotheses 1.6 Significance of the Study 1.7 Limitation of the Study 1.8 Scope of the Study 1.9 Outline of Chapters 1.10 Operationalization 1.11 Definition of Terms CHAPTER TWO LITERATURE ... Continue reading---
CHAPTER ONE - [ Total Page(s): 3 ]CHAPTER ONEINTRODUCTION1.1 Background of the Study Starting from the time of report of the fascinating study of entrepreneurs by McClelland (1961) in which he came out with a list of nine characteristics of the entrepreneur, several other writers have equally illuminated the list of entrepreneur characteristics. McClelland (1961) listed the following characteristics of entrepreneur; need for achievement, desire for responsibility, preference for moderate risks, perception of probabil ... Continue reading---
CHAPTER THREE - [ Total Page(s): 4 ]CHAPTER THREERESEARCH METHODOLOGY3.1 Introduction This chapter describes the various methods and techniques used to collect and analyze the data gathered for the study to gain a deeper understanding of the topic under study. The data collection stage is important since the result of the analysis is dependent on the quality of the data obtained. Therefore, the method selected for data collection must be the most appropriate to assist in achieving the objectives of the study.3.2 R ... Continue reading---
CHAPTER FOUR - [ Total Page(s): 14 ]The F-Test (ANOVA)This is used to test the overall statically significant of the variables. It is meant to test the overall significance of the entire model as regards the dependent variable. It checks the joint variance of the explanatory variables. The level of significance to be used is 5%. Hence, if the probability is ≤ 0.05, the explanatory variables’ parameter estimates will be jointly statistically significant.a. Predictors: (Constant), market, innovationThe correlation betwe ... Continue reading---
CHAPTER FIVE - [ Total Page(s): 4 ]ï¶ Neo-classical Theory The neo-classical model emerged from the criticisms of the classical model and indicated that economic phenomena could be relegated to instances of pure exchange, reflect an optimal ratio, and transpire in an economic system that was basically closed. The economic system consisted of exchange participants, exchange occurrences, and the impact of results of the exchange on other market actors. The importance of exchange coupled with diminishing marginal utility c ... Continue reading---
REFRENCES - [ Total Page(s): 1 ]REFERENCESAfonja, B. (1999). Entrepreneurship Management, Lagos: Adoki Press (1st Edition).Basheer, O. (2005). Developing Small Scale Business Enterprise, Kano: Abubakar PressBurnett, C. (2000). Entrepreneurship, London: University Press.Brochlans, L. (1982). Managing Small Business Enterprise, Manchester: Paula Co. (1st Ed).Egbe, O. (2006). Entrepreneurship Development in Nigeria, Journal of Management. Retrieved on the 24/05/012 from http://www.wikibooks.com Litvaket and Mance, F. (1999). Mana ... Continue reading---
