ENTREPRENEURSHIP DEVELOPMENT AS A TOOL FOR WEALTH CREATION

Need help with a related project topic or New topic? Send Us Your Topic 

DOWNLOAD THE COMPLETE PROJECT MATERIAL

ENTREPRENEURSHIP DEVELOPMENT AS A TOOL FOR WEALTH CREATION

Chapter one

INTRODUCTION

1.1 Background of the Study

Entrepreneurship development through education has received global attention. Several attempts have been made to develop both the entrepreneurial spirit and culture through research, the establishment of Entrepreneurship courses, and programmes in both educational institutions and entrepreneurship research centres (Akpomi 2009; Adejimola and Olufunmilayo 2009; Dickson 2008).

As stated by Kalirajan and Singh (2009) in the MDG Report (2007), an entrepreneurship drive entails a concerted effort to mobilise and enhance entrepreneurial activity, which will benefit individuals, the government, and society at large.

The subject of poverty elimination has been a primary focus for many governments and institutions, particularly in developing countries where extreme poverty has become a pandemic.

To this purpose, Ewhrudjakpor (2008) claimed that poverty and unemployment are among the primary developmental issues confronting any developing economy in the twenty-first century. The government and every well-meaning citizen in Nigeria are concerned about the rising rates of poverty, unemployment, corruption, and other social ills.

As a result, seeming change is both desirable and required for the country to progress and address global problems. The integration of economies through globalisation is a process in which any government or state that hesitates or vacillates on whether to imbibe the culture of change will undoubtedly remain stagnant or cause a standstill, not only to the harm of its country but also to the greater global community.

It is one thing to engage in entrepreneurship; it is another to generate riches. Entrepreneurship generates Wealth through proper coordination, strategy, and policy implementation.

Other considerations include infrastructure, awareness, and education. It is important to understand that education can be a means to an end. It can simply be a tool for ensuring employment and independence for individuals by providing and learning the required knowledge and skills to improve their lives (Akingbola, 2008).

The remainder of this study would look into the necessity and importance of entrepreneurial development in wealth creation.

1.2 Statement of the Problems

The problem in this study includes:

· Students have a negative opinion of entrepreneurship

· Difficulty categorising entrepreneurial qualities and functions.

· Obstacles to student entrepreneurs’ ability to create wealth due to many causes.

· Government policies on entrepreneurship are poorly implemented.

· Unsuitable business environments for entrepreneurship.

1.3 GOALS OF THE STUDY

In view of the aforementioned issue, it is appropriate to provide some intentions aimed at resolving and boosting entrepreneurship growth as a tool for wealth generation. The study’s particular objectives would so be as follows:

· Examine students’ perceptions of entrepreneurship’s traits and functions.

· Examine government policies as a barrier to entrepreneurship and wealth growth.

1.4 RESEARCH QUESTIONS.

· How is entrepreneurship seen by students?

· What are the traits and responsibilities of entrepreneurs?

· What prevents students from creating riches through their entrepreneurial drive?

· How effectively does the government implement its entrepreneurship policies?

· Is there a supportive atmosphere for entrepreneurs?

1.5 Research Hypotheses

Hypothesis I

Ho: There is no statistically significant association between entrepreneurship development and infrastructural efficiency.

Hello: There is a strong correlation between entrepreneurship development and infrastructural efficiency.

Hypothesis II.

Ho: There is no significant association between a student’s entrepreneurial drive and wealth generation.

HI: There is a strong correlation between students’ entrepreneurial drive and wealth development.

1.6 Significance of the Study

Taking into account the rate of poverty caused by unemployment, high levels of illiteracy, corruption, and bad infrastructure, the study will have the following implications:

The study provides enough obstacles for academics to pique their research curiosity in the realm of knowledge.

The study will aid in disclosing the many restrictions in entrepreneurship growth, as well as how best to operate and utilise developed solutions to improve the status of Nigerian adolescents to a more appropriate and admirable condition.

The study would help the government prioritise and review the standards for guiding against the impact of poverty, unemployment, high levels of illiteracy, corruption, and poor governance among Nigerian youngsters.

1.7 SCOPE OF THE STUDY

The research focuses on entrepreneurship development as a vehicle for wealth creation. The study is only open to final-year students at the Faculty of Business Administration, Distance Learning Institute (DLI), University of Lagos.

1.8 Definition of Terms

Unemployment occurs when a person is without a job and has actively sought work for a long period but has been unable to find one.

Entrepreneur: This is a person who owns a new firm, venture, or idea and accepts major accountability for the inherent risks and the outcome.

Wealth is defined as having an abundance of valuable resources or tangible things, as well as control over such assets.

Wealth creation is the process of combining materials, labour, land, and technology in order to make a profit.

Creativity refers to the phenomenon of creating something new that has some worth.

Infrastructure refers to technical infrastructure that promote enterprise and wealth creation, such as roads, water supply, sewage, electrical grids, telecommunications, and so on.

Poverty is defined as the inability to afford basic human requirements such clean water, nutrition, health care, education, clothing, and shelter.

Gross Domestic Product (GDP) is a measure of a country’s total economic output. It is the market value of all final goods and services produced inside a country’s borders within a given year.

Need help with a related project topic or New topic? Send Us Your Topic 

DOWNLOAD THE COMPLETE PROJECT MATERIAL