ABSTRACT
This study aims at
looking into entrepreneurship development as a tool for wealth creation, which
will serve as a panacea to some social economic problems. Survey research
design was used for the study. The population is made up of entire final year
students of Distance Learning Institute (DLI). The questionnaires were issued
to one hundred and ten (110) respondents which formed the sample used. The sample was drawn using simple random
sampling technique. Data were analyzed using frequency tables and percentage
method while formulated hypotheses were tested using Chi-square (χ2) based on 0.05 probability
level of significance.
It was revealed
that the performance level of the Distance Learning Institute, Business
Administration final year students in entrepreneurship development is
drastically low resulting from lack of infrastructure and other deficiencies in
providing the necessary impetus for development. It also finds out that same
problems keep escalating despite various efforts by the government to review
policies and programmes in the past. The uniqueness of this study is providing
entrepreneurship development framework as an explanation of what and how it
should be rather than what it is. It also challenges policy makers on the need
to refocus their policies in problem solving rather than maintaining the status
quo.
TABLE
OF CONTENTS
Pages
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of content vi
Chapter
One: Introduction
1.1 Background to the Study 1
1.2 Statement of the Problem 2
1.3 Objectives of the Study 3
1.4 Research Question 4
1.5 Research Hypotheses 4
1.6 Significance of the Study 5
1.7 Scope of the Study 5
1.8 Definition of Terms 6
Chapter
Two: Literature Review
2.1 Entrepreneurship as a Concept 8
2.2 The Concept of Entrepreneurship,
Entrepreneur
and
Entrepreneurship Development 9
2.2.1 Attributes of an Entrepreneur 12
2.2.2 Functions of an Entrepreneur 16
2.2.3 Factors That Necessitates Entrepreneurship 24
2.3 Entrepreneurship and Education in Nigeria 28
2.3.1 Constraints of Entrepreneurship in Nigeria 30
2.4 Requisite Creativity and Problem Solving
Skills
For Entrepreneurship 31
2.5 Sources of Funds for an Entrepreneur 37
2.6 Entrepreneurship and National Development 43
2.7 Entrepreneurship and Wealth Creation 45
2.8 Challenges of Entrepreneurship in Nigeria 48
2.9 Conclusions 49
Chapter Three: Research Method
3.1 Research Design 50
3.2 Area of Study 50
3.3 Population and Sample of a Study 50
3.4 Sampling Procedure 50
3.5 Method of Data Collection 51
3.6 Coding Procedure 51
3.6 Research Instrument 51
3.6.1 Questionnaire 52
3.7 Validation of Instrument 52
3.8 Method of Data Analysis 52
Chapter Four: Data Analysis and Results
4.1 Analysis of Respondent’s Responses 61
4.2 Analysis of Respondent’s Bio-data 61
4.3 Analysis of Responses to Research Questions 65
4.4 testing of Hypothesis 74
Chapter Five: Summary, Conclusion and Recommendation
5.1 Summary of Findings 80
5.2 Conclusion 81
5.3 Recommendations 84
5.4 Suggestion for Further Studies 85
References 86
Appendix 1 87
Questionnaire
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Entrepreneurship
development by way of education has been receiving attention globally. Several
attempt have been made through researches, mounting of entrepreneurship courses,
programmes in both institutions of learning and entrepreneurship research
centers for the purpose of developing both entrepreneurship spirit and culture
(Akpomi 2009; Adejimola and Olufunmilayo 2009; Dickson 2008).
As
expressed by Kalirajan and Singh (2009) and MDG Report (2007), entrepreneurship
drive entails intensified effort to mobilize and enhance entrepreneurial
activity which will consequently benefit individuals, government, and the
society at large. The issue of poverty eradication has been a top priority of
many government and institutions especially in developing countries where
extreme poverty is conspicuous and became pandemic.
To
this end, Ewhrudjakpor (2008) asserted that poverty and unemployment are among
the major developmental problems that face every developing economy in the 21st
century. In Nigeria today, the increasing rate of poverty, unemployment,
corruption and so many other social problems has become worrisome to the
government and to every well meaning citizen. Therefore, the need for apparent
change is very desirable and necessary for the country to move forward and to
meet up with the global challenges. The integration of economies through
globalization process any government or state that hesitates or vacillates on
whether to imbibe the culture of change will certainly remain stagnant or
create standstill not only at the detriment of its country but to the larger
global community.
It
is one thing to indulge in entrepreneurship and it is another thing to create
wealth. Wealth creation from entrepreneurship entails proper coordination,
strategy and implementation of appropriate policy. Other factors include
infrastructures, awareness and education. It is pertinent to note that
education can be a means to an end. It can simply be a tool for securing
employment and emancipation of people through the provision and acquiring of
necessary knowledge and skills to make lives more flourishing (Akingbola, 2008).
The
rest of this study would investigate the need and importance of entrepreneurship
development on wealth creation.
1.2 STATEMENT OF THE PROBLEMS
The
problem of this study includes:
·
Poor perception of entrepreneurship
amongst students;
·
Inability to appropriately classify the
characteristics and functions of an entrepreneur;
·
Constraints against effective wealth
creation from entrepreneurial drive of students owing to some militating
factors;
·
Poor implementation of government policies
on entrepreneurship;
·
Business environments that is not
conducive for entrepreneurship.
1.3 OBJECTIVES OF THE STUDY
In the light of the above problem, it
is therefore pertinent to offer some intension geared towards redressing and
enhancing entrepreneurship development; as a tool for wealth creation. The
following would therefore serve as specific objectives of the study:
·
To examine how students perceive the
characteristics and function of entrepreneurship.
·
To investigate the factors militating
against effective wealth creation and entrepreneurial activities with emphasis
on government policies.
1.4 RESEARCH QUESTIONS
·
How is entrepreneurship perceived amongst
students?
·
What are the characteristics and functions
of an entrepreneur?
·
What are the factors militating against
effective wealth creation from entrepreneurial drive of students?
·
To what extent are government’s policies
on entrepreneurship implemented to the letter?
·
Are there conducive environment for
entrepreneurship?
1.5
RESEARCH HYPOTHESES
Hypothesis I
Ho: There is no significant
relationship between entrepreneurship development and efficiency of
infrastructure.
HI: There is
a significant relationship between entrepreneurship development and efficiency
of infrastructure.
Hypothesis II
Ho: There is no significant
relationship between entrepreneurial drive of students and wealth creation.
HI: There is
a significant relationship between entrepreneurial drive of students and wealth
creation.
1.6
SIGNIFICANCE OF THE STUDY
Taking
into cognizance the rate of poverty occasioned by the rate of unemployment,
high level of illiteracy, corruption and poor infrastructures, the study will
have the following significance:
The study presents sufficient
challenges to academic to increase their research interest in the field of
knowledge.
The study will help in revealing the
various constraints in entrepreneurship development and on how best to work and
apply worked out strategies to better the state of the Nigerian youths to a
more befitting and admirable condition.
The study will aim at enabling the
government to prioritize and review the standard for guiding against the impact
of poverty, unemployment, high level of illiteracy, corruption and bad
governance amongst the Nigerian youths.
1.7 SCOPE OF THE STUDY
The
research study is focused on entrepreneurship development as a tool for wealth
creation. The study is limited to final year students of the Faculty of
Business Administration, Distance Learning Institute (DLI), University of
Lagos.
1.8 DEFINITION OF TERMS
Unemployment:
This
occurs when people are without a job and has actively looked for work for a
long time and finds it impossible to get one.
Entrepreneur:
This is a person who has possession of a new enterprise, venture or idea and
assumes significant accountability for the inherent risks and the outcome
Wealth: This is the abundance of valuable
resources or material possessions or the control of such assets.
Wealth
creation: It is the combination of materials, labour, land, and
technology in such a way as to capture a profit (excess above the cost of
production).
Creativity: This refers to the phenomenon whereby
something new is created which has some kind of value.
Infrastructure:
The technical structures that support entrepreneurship and wealth creation,
such as roads, water
supply, sewers,
power grids, telecommunications,
and so forth.
Poverty:
This
is the lack of basic human
needs, such as clean water,
nutrition, health care,
education, clothing and shelter, because of
the inability to afford them
Gross
Domestic Product (GDP): A measure of a country's overall
economic output. It is the market value of all final goods and services made
within the borders of a country in a year.
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