AN EVALUATION OF MONETARY POLICIES IN NIGERIA
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ANALYSIS OF THE IMPACT OF
COURSE OF STUDY ON STUDENTS ATTITUDES TOWARDS ENTREPRENEURSHIP DEVELOPMENT IN
NIGERIA
CHAPTER ONE
1.0 INTRODUCTION
The rate of
unemployment among school graduates is quite alarming in Nigeria. As part of
measures to ameliorate the growing ugly situation, government at all levels
(federal, state and local) are putting in place measures to encourage
self-reliance, creativity and innovation drive through entrepreneurship
development in Nigeria.
To
understand entrepreneurship and development is to discover why Nigeria is
described as a developing economy. Developing economy explains the extent by
which men and women should contribute to develop workable ways or strategies in
order to achieve economic growth and development. It revitalizes the dominant
potentialities of every youth in providing job employment for others rather
than seeking out for employment. It also assists to underscore the
responsibilities of the government in fostering an environment of growth for
entrepreneurial initiatives. It further opens avenues for the government to
develop the right strategies especially in addressing poverty in the country
(Erlinda D, 2011).
1.1
BACKGROUND OF THE STUDY
It is
envisaged that government at all levels will have to put in place all necessary
infrastructures to promote the growth and development of small and medium scale
enterprises (SME) in the country to enable Nigeria attain the Millennium
Development Goals (MDGs) target set by the United Nations by the year 2012 and
Nigeria vision 20-20-20. A vibrant SMSE sector is critical in the realization
of MDGs objective.
Experts have
observed that Nigeria may not likely meet the MDGs target by reducing poverty
by 50% by the year 2015 considering the present status of SMSE operations in
Nigeria.
It is
universally accepted that Micro (Small) and Medium Scale Enterprises are the
engine of development of any nation. A nation’s rate of development is
determined by the number of SMEs in the country.
Statistical
studies have shown that 40 – 50% SMEs in most advanced countries of the world
are owned by graduates or those who passed through Colleges. Given this facts
in Nigeria, the opposite seems to be the case (Business Day Newspaper 9th Jan.,
2007, pg. 13).
Scholars
have divergent views on who is an entrepreneur and who is not. While the first
school of through is of the opinion the entrepreneurs can be made (taught
through formal classes) the other group however are of the opinion that
entrepreneurs are born (an inheritance). They argued further that entrepreneurs
possess special qualities and must have the right attitude and disposition
towards entrepreneurship.
This
development is likely to inculcate in students the right aptitude and attitudes
to starting their won business and by implicating making them a better
entrepreneur. Considering the fact that the key factors that give rise to
enterprise are personal, sociological and environmental factors. For quite some
time now by statistical analysis, over 3 millions Nigerians in a given year
become qualified to form the labour market largely from both Universities and
Polytechnics but, regrettably, not more than 10% of this population are likely
to gain employment to join the formal sector. The International Labour
Organization collaborated this very poor level graduates, employment yearly
(Bugaje, Hamalai & Indabawa, 2002).
Indeed, it
is obvious that with the level of development and attendant threats in Nigeria,
the possibility of government having the capability of leveraging poverty and
meeting the United Nation target on MDGs 2012 is remote.
Inspite of
the Federal Government of Nigeria’s effort towards setting up institutions such
as National Poverty Alleviation Programme (NAPEP), Small and Medium Scale
Enterprises Development Agency (SMEDAN), National Directorate of Employment
(NDE), National Economic Reconstruction Fund (NERFUND) and other relevant
programmes with other world bodies and NGOs, the piece of entrepreneurship
development is still low when compared with other developing countries with
developed nation taking the lead.
Thus, this
research work is an attempt to investigate the individual characteristics of
graduating students with a view to understand whether some students are more
likely to take to entrepreneurship than others irrespective of their course of
study. Attempt will be therefore be made to understand the possible influence
of a students course of study in their desire to start a business of their own.
1.2 STATEMENT OF THE PROBLEM
Substantially,
governments of Nigeria (federal, state and local) are making effort to promote
the development of small and medium scale enterprises and other related
programmes in support but then, much is still desired interms of commitment of funds,
mobilization, minimization of corruption and performance evaluation mechanisms
and above all leveraging on the macro environmental operations variables
(Mawoli, M.A. and Aliyu, A.N, 2010).
Nigeria
still falls far short of the economic and social progress required to impact
the well being of average Nigerian given that over half of the population lives
on less than one dollar a day (Otah, Erlinda, 2011). Nigeria is also one of the
top three countries in the world that has the largest population of poor
people. Nigeria remains off-track on achieving the Millennium Development Goals
(MDGs) including the goal of having the number of people who live in extreme
poverty. The enormity of the challenge is corroborated by Nigeria’s low score
on the Human Development Index (HDI), an index that means the average
achievement of a country in terms of the welfare and quality of life of its
people. It was reported that Nigeria is one that has the highest infant
mortality rate in Africa and indeed worse than those of Ghana, Burkina Faso and
Benin.
In
education, the quality of schooling is adversely affected by large class sizes,
lack of teaching materials and equipment, and lack of qualified teachers, etc.
Doing business in Nigeria is hampered by poor access to infrastructure and
insecurity of lives and property, political instability in some quarters. The
supply of electricity is often unreliable thereby distorting business climate.
According to World Bank / IFC business ranking 2008, Nigeria ranked an
aggregate 125 out of the 183 economies assessed (Erlinda D. 2011).
1.3 OBJECTIVES OF THE STUDY
The research
work is designed to achieve the following specific objectives:
i) To reveal the impact of course of study
on students attitudes towards entrepreneurship development.
ii) To identify the reasons for the slow pace
of entrepreneurship growth and development in Nigeria.
iii) To identify the environmental factors
influencing individual entrepreneurial spirit.
iv) To reveal the extent to which government
is contributing to entrepreneurship development.
v) To identify the roles of entrepreneurship
towards the development of Nigerian economy.
1.4 SIGNIFICANCE OF THE STUDY
This
research work serves as a partial fulfillment of the requirements for the Award
of Higher National Diploma in Marketing by Kaduna Polytechnic.
Secondly,
the research study would serve as a reference library to so many students of
marketing in their quest for further investigation on the subject matter.
Thirdly, the
study reveals the inherent prepositions or benefits of being self employed as
against being an employee throughout one’s life.
This is so
because the concept ideally promotes creativity and drivers of innovation thereby
bringing to bear informed decisions and generation of great investment
potentials.
Fourthly,
the general public stands to benefit from the study as an emerging field but
critical to socio-economic development of any nation and host of others.
1.5 RESEARCH QUESTIONS
The
following research questions would be used to achieving the stated objectives:
i) What are the factors responsible for the
slow pace of entrepreneurship development in Nigeria?
ii) What are the likely impact of course of
study on students attitude towards their individual entrepreneurial
disposition?
iii) What are the environmental factors
influencing individual entrepreneurial spirit?
iv) To what extent is the government
contributing towards entrepreneurship development?
v) What is the role of entrepreneurship
toward the development of Nigerian economy?
1.6 STATEMENT OF HYPOTHESIS
The
following research hypothesis was used in achieving the stated objectives:
H1: An individual student’s course of study has
significant positive impact on a students’ tendency to be an entrepreneur.
H0: An individual course of study has no significant
impact on a student’s choice f being an entrepreneur?
1.7 DELIMITATION / SCOPE OF THE STUDY
The study
focuses on the analysis of the impact of course of study on student’s attitudes
towards entrepreneurship development with special reference to all graduating
students (HND II) of all the five (5) academic colleges (CBMS, CASSS, CBS, COE
and CST) of Kaduna Polytechnic for 2012. The study covers the indepth analysis
of the target student’s psycho-variables, personality and background of
individual to determine their disposition for self employment irrespective of
their course of study.
1.8 DEFINITION OF TERMS
This is all
about defining some of the concepts within the confines of the subject matter:
i. Entrepreneurship: Entrepreneurship is
the process of ideation, conceptualization, enterprise creation,
commercialization and business growth.
ii. Development: It is the process of
unfolding and realization of man’s creative potential that enables him to
improve his material conditions and living through the use of resources
available to him.
iii. Economic Growth: It shows or it’s the
ability of the country to satisfy the needs and wants of their people.
iv. Value Creation: This is the process of
making products and providing services that customers find consistently useful
and profitable to providers
v. An Entrepreneur: The individual who
possess the drive, ambition, foresight and imagination to break through
traditional barriers, overcome social inertia, and transform theory into
practice
vi. Entrepreneurship Development: A process of
advancing or improving the entrepreneurial ability of an individual by means of
the re-orientation and reorganization of the entire economic and social systems
vii. Creativity: The ability to process
information in such a way that the result is new, original and meaningful.
viii.
Innovation: Originality. The ability of an entrepreneur to develop new
products, new technology, new distribution outlets and supply modification for
enhanced services.
ix. Marketing: As a social and management
process by which individuals and groups obtain what they need and want through
creating, offering and exchanging products of value with others.
x. Marketing Mix: This refers to all
elements of an organization strategies, tactics, programmes and techniques
which are designed in relation to available resources to meet marketing
objectives and ultimately the needs and wants of the customers.
xi. Advertising: It is a non-personal form of
communication, involving persuasion and promotion of ideas, goods or services
through paid media under identified sponsorship.
xii. Public Relations: It is a non-personal
stimulation of demand for a product, service or business unit by planting
commercially significant news about it in the media, without paid
sponsorship
TABLE OF
CONTENTS
Title Page
- - -
- - -
- - -
Declaration
- - -
- - -
- - -
Approval -
- - -
- - -
- -
Dedication - -
- - -
- - -
Acknowledgement -
- - -
- - -
Abstract -
- - -
- - -
- -
Table of
Contents - -
- - -
- -
CHAPTER ONE:
1.0 Introduction -
- - -
- - -
1.1 Background of the study -
- - -
-
1.2 Statement of the problem -
- - -
-
1.3 Objectives of the study -
- - -
-
1.4 Significance of the study -
- - -
-
1.5 Research questions -
- - -
- -
1.6 Statement of hypothesis -
- - -
-
1.7 Delimitation / scope of the study - -
- -
1.8 Definition of terms -
- - -
- -
CHAPTER TWO:
LITERATURE REVIEW
2.0 Introduction -
- - -
- - -
2.1 Historical perspective of research
area - -
-
2.2 Conceptual definition of
entrepreneurship - -
2.3 Concept of entrepreneurship and
entrepreneur -
2.4 The process of entrepreneurship - -
- -
2.5 Concept of development -
- - -
-
2.6 Meaning of entrepreneurship development
- -
2.7 Factors influencing entrepreneurship
development in the 21st century -
- - -
2.8 Characteristics and skills of an
entrepreneur -
2.8.1
Entrepreneurial characteristics - -
- -
2.8.2
Entrepreneurial skills - -
- - -
-
2.8.3 What
is entrepreneurial spirit - -
- -
2.9 Dynamics of the brain as the seat of
entrepreneurial empowerment - - -
2.10 Functions of entrepreneurship -
- - -
2.11 Benefits of entrepreneurship -
- - -
2.12 Factors determining the extent of
entrepreneurship
2.13 Factors influencing the development of the
individual entrepreneur - - - -
- - -
2.14 The role of marketing in entrepreneurship
development in Nigeria - - - -
- -
- -
2.15 Challenges of entrepreneurship development
in Nigeria
2.16 The role of entrepreneurship in the
development of enterprises - -
- - -
2.17 The role of government towards entrepreneurship
development in Nigeria - - -
2.18 The role of entrepreneurship in economic
development
CHAPTER
THREE: RESEARCH METHODOLOGY
3.0 Introduction -
- - -
- - -
3.1 Area of study -
- - -
- - -
3.2 Research design - -
- - -
- -
3.3 Justification for its adoption -
- - -
3.4 Population of the study -
- - -
-
3.5 Sample size and sampling techniques - -
-
3.6 Justification for sampling section -
- - -
3.7 Methods of data collection - -
- - -
3.8 Instruments used in data collection -
- -
3.9 Method used in presentation and analysis of
data collected (Data analysis techniques)
- - -
- -
3.10 Limitations -
- - -
- - -
CHAPTER
FOUR: PRESENTATION AND ANALYSIS OF DATA
4.0 Introduction -
- - -
- - -
4.1 Respondents characteristics and
classification -
4.2 Presentation and analysis of data -
- -
4.3 Answer to research questions and or test
hypothesis
CHAPTER
FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.0 Introduction -
- - -
- - -
5.1 Summary
- - -
- - -
- -
5.2 Conclusion - -
- - -
- -
5.3 Recommendations -
- - -
- -
Bibliography
Appendixes
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