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The Effects Of Entrepreneurial Characteristics On Business Performance
[A CASE STUDY OF APEX PAINT LTD]
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2.9 The Practical Approaches to Entrepreneurship Development
ï¶ Ethnicity Entrepreneurial Approaches
Ethnic of community entrepreneurship is about immigrant entrepreneurs in a particular country (Darren etal, 2009). Its involves the sojourner in a foreign land. Thus, It could be seen as an approach of sojourners to entrepreneurship. A sojourner could be defined as a stranger who spends many years of his/her lifetime in a foreign land or country without being assimilated by it. Hence, they are called immigrant entrepreneurs. Basheer (2005) argued that one of the reasons why ethnicity entrepreneurs seem to be effective is that the emigrants come with education and experience from various backgrounds and these proved to be strength and advantage to ethnicity entrepreneurial approach.
In line with above, it is clear that the important of ethnicity entrepreneurship approach cannot be undermined for instance, in USA, small ethnic firms account for over 15% of all business generating over $591 billion (US) annually and absorb over 5 million workers (Burnett 2006). In the UK, the percentage of ethnic entrepreneurial firms is smaller but still substantial at 7% (220, 000 business) (Bytes tart. Co. uk small Business portal, 2005), Edge etal, (2000) reported that a similar situation exist an Australia with a total ethnic presence of nearly 23% which is higher that the USA. Canada, UK, Switzerland, France or Germany.
Another important of ethnicity approach is that it has economic effect. This economic effect involves the willingness to suffer short – term deprivation in order to fasten the long – term objectives of returning the country of origin. For instance, it is noted that immigrants or sojourners work long hours, send their savings home and encourage thrift which made them to have little money or time to spend on consumption. In the case of working for a longer hour, study has indicated that immigrant`s entrepreneurs survived and prospered in the foreign land by means of self – exploitation by extending their working hours. This is clearly in total disagreement with that of settlers and natives who generally do not think of living elsewhere in their future and couple with this, is the fact immigrants always make use of their family labor since it involves family members who provide cheap labor support.
ï¶ Socio – Cultural Approach
There is no doubt that experts and scholars in the field of entrepreneurship development have emphasized the important of socio – cultural environment and background of the people in the development of entrepreneurship and as well as in small business development (Edge, 2006).
Rasheed (2001) referred to culture as the beliefs values and practice of the people in a small society. Similarly, Arowomole (2000) defines culture as people belief, practices, attitude and values, Mohd (2005) also define culture as consisting of people`s belief and values. Therefore, culture deal with the practices, belief, attitude and values of the people within a given society.
Rajesh (2006) reported that various authors have indicated many ways by which deferent societies with different interests, attitudes, system of satisfaction and like, operated to produce various kinds of business and entrepreneurs with various patterns of entrepreneurial behaviors.
Socio – cultural approach involves the total use of cultural influence to develop entrepreneurship. The value based entrepreneurial culture refers to the sum of total dynamic and innovative ways and means in which entrepreneurs respond to changes in the environment. It further refers to the spirit of openness, conformity, trust, authenticity, proactively, creativity, innovation, collaboration, experimentation and conformity. Afonja (1999) in consonance with this suggested that entrepreneurial culture which is a product is the set of values, attitudes and beliefs which is supporting the exercise in the community of independent entrepreneurial behavior in a business context.
These values form an entrepreneurial and cooperative culture where entrepreneur work effective and efficiently in order to contribute to the economic development. The Socio – cultural components of the general environment includes; demographic factors, general behavior, attitudes and as well as the beliefs of the people in the society. This therefore indicates that social cultural changes and trends influence entrepreneurship development.
ï¶ Location Approach
Arguably, the most important factor of entrepreneurship and small business development is the strategic location of the business which could include the nearness to raw material, accessibility to business premises, good road network, and business of the area in term of business activities etc. Edge (2005) defined location as the choice mode of entering business. Thus, the study views location in terms of location type which could be local or international location. Also, Tonge (2009) defined location as choice of where a business is to be located which could be small, medium and large cities or urban or rural locations. This definition is in line with Esteban yancy and Christian (2010) who refers to location as a choice of locating your business either in the rural or urban centre which is also link with the type of product or service the firm tend to offered.
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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---
