CHAPTER
TWO
LITERATURE
REVIEW
2.1
Introduction
This aspect of the
research work examines
available literature on the subject matter - literature on entrepreneurship
will be reviewed. Also included is the concept of entrepreneurship, theories of
entrepreneurship and empirical analysis of entrepreneurship in Nigeria and
other countries of the world.
2.2
Conceptual Framework
The term ‘entrepreneurship’ has been
used in a business context for well over two centuries, the meaning has
however, changed considerably over the years Morris et al, (1996). Definitions
have varied based on the idea that the entrepreneur performs one economic
function or the other, depending on the school of thought.
According to Gibb (1993)
entrepreneurship is the process of seeking investment opportunities without
regard to the resources at ones disposal. Ige (2007) sees entrepreneurship as a
pre disposition towards the establishment and operation of business venture by
any individual, either alone or along with others, including government for the
sake of making profit or social surplus in order to accumulate wealth. Given
the extent of literature and various definitions, this research study adopts
the definition of entrepreneurship as the ability and willingness of an
individual to identify business opportunities and gather all the necessary
resources to pursue them, with a view to providing benefits for one and for
others.
Meredith,
Nelson and Neck (1991) define entrepreneurs as people who have the ability to
see and evaluate business opportunities, gather necessary resources in order to
take advantage of them and initiate appropriate actions to ensure success. This
definition is suggestive of entrepreneurs as self-employed persons. In this
context any self employed person is an entrepreneur. This is based on the
understanding that the ability and willingness of an individual to identify and
exploit opportunities will translate into self-employment.
Therefore, in the context of this
study, an entrepreneur is any individual who tirelessly identifies and exploits
business opportunities in the environment.
2.3
Empirical Review
2.3.1 Entrepreneurship Development Programme In
Nigeria
Entrepreneurship
Development Programme is increasingly recognized as important driver of
economic growth, generating employment, fostering innovation and poverty
reduction through the empowerment of young men and women (UNCTAD, 2010). Poor
entrepreneurship development has also been identified as an immediate reason
why businesses in developing countries fail to start or progress.
Structural
training as described by Abiodun (1999) is a systematic development of
knowledge, skills and attributes required by an individual to perform
adequately on a given task or job. Aina (1992) defined structural training as
an activity where an expert and learner work together to effectively transfer
knowledge and skills from the expert to the learner (to enhance learner’s knowledge,
skills and attributes) so that the learner can better perform a current or
specific task of job. On the other hand, institutional or capacity building is
a course of action designed to enable an individual to realize his potentials
for growth (Atiomo, 2008). Capacity building relates to the future activity
rather than present or current jobs. This suggests a broader view of knowledge
and skills acquisition than training. It is concerned more with individual’s
potentials than with immediate skills.
Two
approaches have been used for entrepreneurship development in Nigeria. One of
the approaches is concerned with provision of generous credit facilities for
small-scale industrialists. The scheme, which was formally launched at the
beginning of the third National plan period (1975-1980), aimed at providing
entrepreneurs with seed capital. The second approach is concerned with
provision of training. This led to the establishment of the first training
centre, known as Industrial Development Centre (IDC) in Owerri, in 1972. Other
IDCs were established in different parts of the country. These two elements
(training and funding) are the twin components of Nigerian EDP initiative.
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