Select Currency
Translate this page

AN APPRAISAL OF SUCCESS CRITERIA FOR ENTERPRENEURSHIP BUSINESS IN NIGERIA

Format: MS WORD  |  Chapter: 1-5  |  Pages: 66  |  3246 Users found this project useful  |  Price NGN5,000

  DOWNLOAD THE FULL PROJECT

AN APPRAISAL OF SUCCESS CRITERIA FOR ENTERPRENEURSHIP BUSINESS IN NIGERIA

 

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

The management school suggests that an entrepreneur is a person who organizes or manages a business undertaking, assuming the risk for the sake of profit (Webster, 1966). Within this perspective, it is believed that entrepreneurship can be developed through conscious learning. In most cases, failure in entrepreneurial activities is attributed to poor management tactics. It is therefore, averred that training in management functions can help reduce business failure substantially and make success of an enterprise. The leadership school of entrepreneurship sees an entrepreneur as someone who relies on those he believes can help him achieve his purposes and objectives. This school proposes that a successful entrepreneur must be a‘people manager’, an effective leader, a mentor who motivates, directs and leads others to accomplish set tasks. Kao (1989) postulates that the entrepreneur must be a leader, able to define a vision of what is possible, and attract people to rally around that vision and transform it into reality. The two major elements in this approachare: getting the task accomplished and responding to the needs of those involved in task accomplishment. 

Both personality- and human capital models are examples of character-based model. According to personality based model, entrepreneurs posses certain traits and these specific traits are expected to produce a strong impact on planning the business and on the choice of strategies and actions during the launching phase, which will in turn determine the entrepreneur's eventual success in the undertaking. In particular psychological but also economic research has analyzed in detail which personality characteristics are fundamental for entrepreneurial success. The following traits have been defined as useful in explaining the past success and in predicting the future development of a newly founded business: motivational traits, such as `need for achievement', `internal locus of control', and `need for autonomy', cognitive skills such as `problem-solving orientation', `tolerance of ambiguity', `creativity' and `risk-taking propensity', affective personality traits, such as `stress resistance', `emotional stability', and `level of arousal', and social skills, such as`interpersonal reactivity' and `assertiveness' (Caliendo and Kritikos, 2007).

Empirical research aiming to underpin the theoretical propositions ex-post has taken two directions: it has compared the parameter values of these variables, gathered with the help of psychologically validated questionnaires, either between entrepreneurs and employees, or between successful and unsuccessful entrepreneurs.Previous research has also pointed out the limits of this approach. On the one hand, the size of the firm in terms of number of employees has been described as indispensable for the application of the model.According to this argument, the fewer employees a business has, the greater the impact of the owner's personality on its success. On the other hand, there is no consensus on the impact of personality structure on entrepreneurial success. Muller (1999) suggests that these traits should be used to predict the development of an individual as entrepreneur. Given the numerous personality variables that might influence entrepreneurial success, a second expectation is that each individual variable will only be a weak predictor for entrepreneurial success (Rauch and Frese, 2000). Gartner (1988) believes that no correlations will be found between traits and the success of an entrepreneur at all. 

Human capital theories relate to entrepreneurial success in a similar way as personality structure: sufficient knowledge and working experience in the relevant fields enable business founders to choose more efficient approaches, for instance in organizing production processes, creating financial strategies, or analyzing markets for the new product. The human capital of the entrepreneur is the second part of the character-based approach after the entrepreneurial personality. Human capital theory is concerned with knowledge and experiences of small-scale businessowners. The general assumption is that the human capital of the founder improves small firm chances to survive (Bruederl, Preisendoerfer and Ziegler, 1992). Human capital acts as a resource. Human capital makes the founder more efficient in organizing processes or in attracting customers and investors. Different studies used various operationalizations of human capital. Bruederl et al. (1992) distinguished between general human capital years of schooling and years of work experience- and specific human capital- industry specific experience, self employment experience, leadership experience, and self-employed father and in general, trend indicated a small positive relationship between human capital and success.Human capital theory has an important implication: Since the theory is concerned with knowledge and capacities, the theory implies processes as well: human capital can be trained and improved. Additionally, if

human capital acts as a resource it might be interesting to evaluate human capital implications of employees in small scale enterprises as well. In manufacturing settings it was shown, that a human resource management (HRM) system was related to performance especially when it was combined with a quality manufacturing strategy (Youndt, Snell, Dean, &Lepak, 1996).Most theoretical studies analyzing the impacts of human capital on the success probability of a new venture are concerned with the general human capital (such as the years 10 of schooling or working experience),with various kinds of specific human capital (such as experience in leadership, in self-employment or in the industry chosen for the new venture), or with genetic or sociological relations (such as self-employed parents or friends). Research on the impact of general human capital by Backes-Gellner and Lazear (2003) has shown that it is important for later success if business founders have already developed a broader knowledge base rather than specialized knowledge of a certain topic. Relationships between the human capital approach and the success rates of entrepreneurs have been empirically tested as well. Chandler and Hanks (1994, 1996) showed that thereis a positive impact when entrepreneurs found new businesses in the same branch where they had gathered previous work experience. The same authors observed only a weak impact of general human capital on success rates in terms of years of schooling. An explanation of the latter is given by Lazear (2004), and by Wagner (2003), who found empirical support for Lazear's `jack-of-all-trades model' which is not necessarily correlated with years of schooling. Also, Dunn and Holtz-Eakin (2000) found a positive correlation between success rates of business founders and self-employed parents.

According to goal setting theory, high and specific targets are main motivators in working organizational settings and predictor to performance (Locke and Latham, 1990). The theory also applies to small- scale enterprises (Baum, 1995; Frese, Krauss, and Friedrich, 1999). A recent focus in leadership theory is on visionary (orcharismatic, transformational) leadership. Collins and Porras (1994) indicated that visionary companies have a stronger organizational culture and they are more successful than non-visionary companies. Baum, Locke and Kirkpatrick (1998) found direct and indirect causal effects of vision attribute, vision content, and vision communication on small venture performance. In entrepreneurial companies, visions might be more important than in bigger organizations because of the relative close contact between entrepreneur and employee (Baum et al., 1998). Thus, goals and visions have an effect on the performance of small companies. 

A general interdisciplinary model for entrepreneurial success is the Giessen- Amsterdam model of entrepreneurial success. The model shows that all of the influences of personality, human capital, and environment on success have to be mediated by strategies and tactics of actions. This concept is in stark contrast to the theoretical stance of the ecological approach which assumes that essentially a random process of actions is shaped and selected by the environment, including the function of the environment to produce certain failure and success rates. The research therefore seek to provide an appraisal of success criteria for entrepreneurship business in Nigeria.

1.2 STATEMENT OF THE PROBLEM

The growing importance of entrepreneurship interms of constituting  a sector of employment generation and economic building necessitates that entrepreneurial businesses should have the capacity to grow , make profit and contribute to the nations economic development. Entrepreneurship is The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses.In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace .

However evidence shows that many entrepreneurs  lack the  capacity, trait, and resources to manage their busineese to grow, make profit and contribute

To nations building. As such many entrepreneurial businesses have started and later folded up. Therefore the problem confronting this research is to provide an appraisal  of success criteria for entrepreneurship   business in Nigeria.

 With a case study of juli supermarket lagos

1.3     RESEARCH  QUESTION

1   What is the nature of entrepreneurship business

1       What are the success criteria for entrepreneurship business

2       What is the nature and success criteria of juli supermarket lagos

1.4    SIGNIFICANCE OF THE STUDY

The study  shallprofer success criteria for entrepreneurship business and shall also serve a useful information for new and ongoing

Entrepreneurship businesses.

1.5   RESEARCH HYPOTHESIS

 1    Ho   The performance of juli supermarket is low

       H1   The performance of juli supermarket is   high

2     Ho    Success criteria iinjuli supermarket is low

       Hi     Success criteria iinjuli supermarket is high

3     Ho    Impact of the success criteria in juli supermarket is low

     Hi     Impact of the success criteria in juli supermarket is  high

1.6  SCOPE OF THE STUDY

The study focuses on the appraisal of success criteria for entrepreneurship business in Nigeria with a case study of juli supermarket lagos

1.7  DEFINITION OF TERMS

ENTREPRENUERSHIP BUSINESS DEFINED

Entrepreneurship is The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses.In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace

A General Model of Entrepreneurial Success

A general interdisciplinary model for entrepreneurial success is the Giessen- Amsterdam model of entrepreneurial success. The model shows that all of the influences of personality, human capital, and environment on success have to be mediated by strategies and tactics of actions. This concept is in stark contrast to the theoretical stance of the ecological approach which assumes that essentially a random process of actions is shaped and selected by the environment, including the function of the environment to produce certain failure and success rates.

Human Capital Model

Human capital theories relate to entrepreneurial success in a similar way as personality structure: sufficient knowledge and working experience in the relevant fields enable business founders to choose more efficient approaches, for instance in organizing production processes, creating financial strategies, or analyzing markets for the new product. The human capital of the entrepreneur is the second part of the character-based approach after the entrepreneurial personality.

Human capital theory is concerned with knowledge and experiences of small-scale business owners. The general assumption is that the human capital of the founder improves small firm chances to survive (Bruederl, Preisendoerfer and Ziegler, 1992). Human capital acts as a resource. Human capital makes the founder more efficient in organizing processes or in attracting customers and investors. Different studies used variousoperationalizations of human capital. Bruederl et al. (1992) distinguished between general human capital -years of schooling and years of work experience- and specific human capital- industry specific experience, self employment experience, leadership experience, and self-employed father and in general, trend indicated a small positive relationship between human capital and success.

Personality Based Model

Both personality- and human capital models are examples of character-based model. According to personality based model, entrepreneurs posses certain traits and these specific traits are expected to produce a strong impact on planning the business and on the choice of strategies and actions during the launching phase, which will in turn determine the entrepreneur's eventual success in the undertaking. In particular psychological but also economic research has analyzed in detail which personality characteristics are fundamental for entrepreneurial success. The following traits have been defined as useful in explaining the past success and in predicting the future development of a newly founded business: motivational traits, such as `need for achievement', `internal locus of control', and `need for autonomy', cognitive skills such as `problem-solving orientation', `tolerance of ambiguity', `creativity' and `risk-taking propensity', affective

personality traits, such as `stress resistance', `emotional stability', and `level of arousal', and social skills, such as `interpersonal reactivity' and `assertiveness' (Caliendo and Kritikos, 2007). Empirical research aiming to underpin the theoretical propositions ex-post has taken two directions: it has compared the parameter values of these variables, gathered with the help of psychologically validated questionnaires, either between entrepreneurs and employees, or between successful and unsuccessful entrepreneurs.

Leadership School of Entrepreneurship

The leadership school of entrepreneurship sees an entrepreneur as someone who relies on those he believes can help him achieve his purposes and objectives. This school proposes that a successful entrepreneur must be a ‘people manager’, an effective leader, a mentor who motivates, directs and leads others to accomplish set tasks. Kao (1989) postulates that the entrepreneur must be a leader, able to define a vision of what is possible, and attract people to rally around that vision and transform it into reality. The two major elements in this approach are: getting the task accomplished and responding to the needs of those involved in task accomplishment

Human Capital Model

Human capital theories relate to entrepreneurial success in a similar way as personality structure: sufficient knowledge and working experience in the relevant fields enable business founders to choose more efficient approaches, for instance in organizing production processes, creating financial strategies, or analyzing markets for the new product. The human capital of the entrepreneur is the second part of the character-based approach after the entrepreneurial personality. Human capital theory is concerned with knowledge and experiences of small-scale business owners. The general assumption is that the human capital of the founder improves small firm chances to survive

(Bruederl, Preisendoerfer and Ziegler, 1992). Human capital acts as a resource. Human capital makes the founder more efficient in organizing processes or in attracting customers and investors. Different studies used variousoperationalizations of human capital. Bruederl et al. (1992) distinguished between general human capital years of schooling and years of work experience- and specific human capital- industry specific experience, self employment experience, leadership experience, and self-employed father and in general, trend indicated a small positive relationship between human capital and success.

  DOWNLOAD THE FULL PROJECT

AN APPRAISAL OF SUCCESS CRITERIA FOR ENTERPRENEURSHIP BUSINESS IN NIGERIA

Not The Topic You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005


HOW TO GET THE COMPLETE PROJECT ON AN APPRAISAL OF SUCCESS CRITERIA FOR ENTERPRENEURSHIP BUSINESS IN NIGERIA INSTANTLY

  • Click on the Download Button above.
  • Select any option to get the complete project immediately.
  • Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
  • All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Uduak From Uniuyo
IProjectMaster is the best project site for students. Their works are unique and free of plagiarism!
Excellent
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Adam Alhassan Yakubu
UDS
Excellent work and delivery , I promise to share my testimonies everyone in need of this kind of work. You're the best
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
Abubakar Iliyasu Hashim
Federal college of education pankshin affiliated to university of jos
I am highly impressed with your unquantifiable efforts for the leaners, more grace to your elbow.I will inform my colleagues about your website.
Very Good
Oluchi From Michael Opara University
If you are a student and you have not used iprojectmaster materials, you are missing big time! iprojectmaster is the BEST
Excellent
Abdul Mateen Iddrisu
UDS
At first I taught is a site full of fraudsters until I saw my project in my Gmail after my payment.. THANK YOU IPROJECTMASTER and May God the almighty bless u guys abundantly
Excellent
Samuel From Ajayi Crowther University
You guys just made life easier for students. Thanks alot iprojectmaster.com
Excellent
Peace From Unilag
I cried not knowing how to go about my project but the day i searched online and saw iprojectmaster, i called and got my full project in less than 15minutes, i was shocked!
Excellent

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on AN APPRAISAL OF SUCCESS CRITERIA FOR ENTERPRENEURSHIP BUSINESS IN NIGERIA?

Simply click on the Download button above and follow the procedure stated.

I have a fresh topic that is not on your website. How do I go about it?

How fast can I get this complete project on AN APPRAISAL OF SUCCESS CRITERIA FOR ENTERPRENEURSHIP BUSINESS IN NIGERIA?

Within 15 minutes if you want this exact project topic without adjustment

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

What if I want to change the case study for AN APPRAISAL OF SUCCESS CRITERIA FOR ENTERPRENEURSHIP BUSINESS IN NIGERIA, What do i do?

Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

How will I get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!