2.7 Conceptual Framework of passion 22
– 23
2.8 Types of Passion 23
– 24
2.9 Impact of Passion 24
– 25
2.10 Conceptual Framework of creativity 25 – 28
2.11 How
Creativity can be Enhanced 28
– 29
2.12
Stock Market Operations 29
– 30
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Introduction 31
3.2 Research Design 31
3.3 Study Population 31 – 32
3.4 Sampling Size 32 –
33
3.5 Sampling Technique 33
3.6 Data Collection Instrument 33 –
34
3.7 Validity and Reliability of the Research
Instrument 34 – 35
3.8 Method of Data Presentation and Analysis 35
3.9 Limitation of
the Methodology 35
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1 Introduction
36
4.2 Questionnaire
Presentation and Analysis 36 – 42
4.3 Test of Hypotheses 43
– 47
CHAPTER FIVE
CONCLUSION
5.1 Introduction 48
5.2 Summary 48
5.3 Findings 48
- 49
5.4 Conclusion 49
– 50
5.5 Recommendations 50
References 51 – 53
Bibliography 54 – 58
Appendix 59 – 61
CHAPTER ONE
INTRODUCTION
Entrepreneurship has
to do with the conceptual approach of doing new things within a new philosophy
of value, of purpose, of utility and of quality and use, which satisfies needs.
It is the practice of starting new organizations, particularly new businesses
generally in response to identified opportunities. It also involves the
recognition of opportunities (needs, wants, problems and challenges) and the
use of resources to implement innovative ideas.
Entrepreneurship is often a difficult undertaking as a vast
majority of new businesses fail. Entrepreneurship ranges in scale from solo projects
(involving the entrepreneur only part time) to major undertakings creating many
job opportunities. Entrepreneurial activities are substantially different
depending on the type of organization that is being started. Furthermore entrepreneurship
is about taking Risk - Risks which could be measured statistically, that which
is ambiguous and true uncertainty i.e impossible to estimate or predict
statistically. The act of entrepreneurship is often associated with true
uncertainty, particularly when it involves bringing something really novel to
the world whose market never exists. Thus,
lots of benefits can be derived from entrepreneurial activities which include
self employment, employment for others, development of more land, income generation
and increased economic growth, healthy competition, availability of more goods
and services, development of new markets, promotion of the use of modern
technology, reduction of informal economy, development of entrepreneurial qualities
and attitudes among potential entrepreneurs.
An entrepreneur is deemed as once who exhibits a kind of behavior
which includes taking initiative, organizing a;1d re-orga~1izing of social and economic
mechanism Tor the purpose of turning resources and situations to practical
profitable ends, and acceptance of risk of failure. He could also be perceived
as being mercurial, which is being prone to insights, brain storms, deceptions,
ingeniousness and resourcefulness. He could also be cunning, opportunistic,
creative and unsentimental. He is not solely an inventor or a promoter; rather
he needs to" be capable of innovations of taking and managing risk of hard
and concentrated work and of decisive and durable achievement. Entrepreneurs are not immune to challenges.
They include decision on the type of product and service, sourcing for finance,
the mechanics of starting a company, effective staff selection, monitoring high
level of morale in business, expansion and diversification amongst others.
Passion is the energy that comes from bringing more of you into
what you do. Passion is being what you are. It's taking off the mask and doing
what comes naturally. It's following the flow of what one is drawn to, what
energizes one and what makes one come alive. Passionate people are ones who
fill a conversation with a burst of new energy, they are motivated to wake up
everyday and put 200% into whatever they do and they typically measure success
in different ways. Thus; if one has passion for a given goal, no matter what
that goal is, he will likely accomplish it. If one wants to succeed, he needs
to be passionate about his goals
Creativity is a mental process involving the generation of new
ideas or concepts or new associations of the creative mind between existing
ideas and concepts. Creativity is manifested in the production of a creative
work that is both original and useful. It results in producing or bringing
about something partly or wholly new, investing an existing objective with new
properties or characteristics, imagining new possibilities that were not
conceived of, before, seeing or performing something in a manner· different
from what was thought possible or normal previously. Creativity can also be
perceived as finding new solutions to old problems either by encouraging people
to work in different ways or through the use of new technologies and new
processes. It, also means finding entirely new products, ne\v routes to market
and new markets altogether. It involves vision, ambition and challenge. It's
driven by wanting to be the best and not being satisfied with the second best.
1.2 STATEMENT OF PROBLEM
Stockbrokers have the
passion of trading on stocks. They buy and sell shares on the floor of the
Nigerian stock Exchange. But there are other creative processes that can be
explored by them as entrepreneurs. These include margin trading, estate
administration and divestment in properties amongst others. A stock broker's
identification with existing processes is inhibitive to exploration of other
creative processes. It is therefore imperative to evaluate the extent a stock broker's
strong identification with business processes can affect the creation of new
ones.
The
pertinence of effective innovative processes cannot be overemphasized. Yet,
stock brokers find it difficult to explore such innovative processes due to the
passion they have for existing processes. Thus, it is essential to identify and
discuss various elements of entrepreneurial passion disturbing the level of
creativity in stock management.
Innovation connotes the ability of an entrepreneur to turn
existing processes into productive and profitable ones. There are a number of
innovative processes that can be experimented by stockbrokers. But due to their
emotional attachment to existing processes, they are oblivious of the fact that
other innovative processes exist, let alone explore them. The problem of
identifying the types of innovative processes that can be explored by
stockbrokers for enhanced performance is an intriguing one that must be
explored.
A stock broker's emotional attachment can shorten or obstruct his
drive and inspiration· to create new products, services and processes because
his emotional attachment is usually exhibited towards already created products,
services and processes there by preventing his attainment of a greater height
of new entrepreneurial skills. Thus, it is germane to investigate how and the
extent a stock broker's emotional attachment can obstruct entrepreneurship
development.
Stockbrokers, as
entrepreneurs need to continuously create effective products, services and
processes. They are equally perceived as entrepreneurs who are highly committed
to their business processes which could have a debilitating impact on
innovative processes. He could find it dif1icult to let go or discard
such processes even if they become obsolete. Hence, it is pertinent to identify
the extent a stock broker's commitment to his already existing processes can
affect his ability to develop innovative processes that are productive.
1.3 OBJECTIVES OF THE
STUDY
1.
Determining the extent to which an entrepreneur's identification
influences creative processes.
2.
Identifying whether a significant -relationship exists between an
entrepreneur's emotional attachment and creative processes
3.
Unraveling the extent an entrepreneur's commitment influences
innovative processes.
4.
Identifying the list of creative processes that can be explored by
entrepreneurs (stockbrokers) .
5.
Investigating the extent to which an entrepreneur's commitment
affects creative processes.
6.
Identifying the elements of entrepreneurship passion that inhibits
the development creative processes.
1.4 SIGNIFICANCE OF THE
STUDY
The significance of the
study will be viewed from two different perspectives namely - practical and
Academic
Practical
Significance
The
study will help in broadening the understanding of the following:
1.
It will reveal the impact of an entrepreneur's commitment on
creative processes.
2.
It will also unfold the list of creative processes that can be
explored by entrepreneurs (stock brokers).
3.
It will equally uncover the influence of an entrepreneur's
emotional attachment on creative processes.
4.
It will disclose the effect of an entrepreneur's identification on
creative processes.
Academic
Significance
This
study will prove to be significant in the academic area:
1.
It will help in contributing to enrichment of the literature on
entrepreneurship passion and creative capabilities.
2.
The study will also serve as body -reserve knowledge to be
referred to by researchers
1.5 RESEARCH QUESTIONS
The
research questions relevant to the study of which answers are to be provided
are listed below:
1.
Can a significant relationship be established between an
entrepreneur's commitment and innovative processes?
2.
Is there a link between an entrepreneur's emotional attachment and
creative processes?
3.
What impact does an entrepreneur's identification with existing
business processes have on creative processes?
1.6 RESEARCH HYPOTHESIS
The research
hypotheses of this project are statement of facts which relates to the problem
areas. They are as follows:
Ho: There is no positive relationship between an
entrepreneur's commitment and innovative business processes
HA:
There is a positive relationship between
an entrepreneur's commitment and innovative business processes
Ho:
There is no positive relationship between an
entrepreneur's emotional attachment and creative business processes.
HA: There is a positive relationship between an entrepreneur's
emotional attachment and creative business processes.
Ho: There is no positive relationship between an entrepreneur’s
identification with existing business process and innovative processes.
HA: There is a positive relationship between an entrepreneur's
identification with existing business process and innovative processes.
1.7 METHODOLOGY
The population of study is all the entrepreneurs in stock broking firms in Nigeria.
But due to the extensiveness of the population and what it takes in terms of
cost and time to cover the population, the survey population will be limited to
126 entrepreneurs from selected stock broking firms.
It will employ primary source of data collection through the use
of questionnaire.
This will consist of 13 questions related to the objectives and
hypotheses of the research work and will be administered on the 126
entrepreneurs. It will help elicit accurate response from the respondents. The
data analysis will involve the use of percentages, tables and Pearson Product
Moment Correlation Coefficient.
1.8 LIMITATION OF THE WORK
The
following are the hindrances that were encountered in the course of carrying
out the research:
1.
Uncooperative attitude of some “interviewees and other corporate
official who are in position to supply the researcher with relevant data ,and
information.
2.
Delay in filling of the questionnaires by the respondents.
1.9 OUTLINE OF CHAPTERS
To
achieve the above mentioned objectives, this research has to be divided into
five chapters which consist of the following:
Chapter one: Introduction of the research work which includes objectives of the
study, its statement of problems, significance of the study. Research questions
and hypothesis are also not exempted.
Chapter two: It will contain the literature review of what some authors and
writers have written about the theme of this work. The documents to be reviewed
include journals, periodicals, reviews, abstracts and other research topics.
Chapter three: This section will consist of the research methodology of the
project. It will include the population of study, sampling design, nature and
sources of data questionnaire design and methods of data analysis.
Chapter Four: The presentation, analysis and interpretation of collected data
will be carried out here with the aid of tables, percentages and Pearson
Product Moment Correlation Coefficient statistical tool.
Chapter Five: The section will summarize the entire project and the
findings will be stated. The recommendations which include the proffered
solution to the problems will also be given.
1.10
DEFINITION OF TERMS
The following are the
terms that will 'be often used during the research
1.
Entrepreneur: An individual who combines resources, labour, materials and other
assets; also introduces changes, innovations and new orders for a profitable
and rewarding end.
2.
Entrepreneurship: Willingness and the ability of an individual to seek out
investment opportunities, establish an enterprise based on this and run it
successfully.
3.
Entrepreneurship passion: It is the energy that comes from within that enables an
entrepreneur to achieve his designated goals. It's taking off the mask and
doing what comes naturally. It's following the flow of what one is drawn to,
what energizes one and what makes one come alive.
4. Creativity: It is the ability
to produce work that is both novel] (i.e. original, unexpected) and appropriate
(i.e. useful adaptive concerning task constraints)
5.
Creative processes: New processes explored by entrepreneurs by which production of
goods and services are achieved. It involves bringing into being an absolutely
new process of getting things done in the business such as would yield desired
goals and objectives.
6.
Innovative processes: This is an improvement of existing processes utilized by an
enterprise by which production of goods and services are attained.
1.11 OPERATIONALIZING
THE RESEARCH TOPIC
The topic of the research
project "Impact of entrepreneurship passion on creative capabilities of
stock operations" has the dependent variable as entrepreneurship passion
and the independent variable as creative capabilities.
The
dependent variable "entrepreneurship passion" is operationalized as
entrepreneur's emotional attachment, commitment and identification.
The
independent variable "Creative capabilities" is operationalized as
creative processes and innovative process
The
above is expressed mathematically as shown below:
y=
f(X), where Y is entrepreneurship passion and X is creative capabilities y= (y1,
Y2, Y3, Y4···· Yu)
Where Y1= entrepreneur's emotional attachment
Y2=
entrepreneur's commitment
Y3= entrepreneur's identification
X= (X1, X2, X3, X4
.... Xu)
Where X1= creative process
X2=
innovative processes
Thus,
YI= f(XI, X2, X3, X4)
Y2= f(XI, X2,
X3, X4)
YJ= f(XI, X2, X3, X4)
Y4 = f(XI, X2, X3, X4)
In summary, the research project focuses on
linking an entrepreneur's emotional attachment, commitment and identification
with creative processes, and innovative
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