ENTREPRENEUR COMPETENCY REQUIRED BY BUSINESS EDUCATION STUDENT IN ESTABLISHING SMALL SCALE VENTURES IN AKWA IBOM STATE
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ENTREPRENEUR
COMPETENCY REQUIRED BY BUSINESS EDUCATION STUDENT IN ESTABLISHING SMALL SCALE
VENTURES IN AKWA IBOM STATE
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND TO THE STUDY
Entrepreneurship
is now seen as an important component within contemporary economic development
of a nation. Its critical role to the economy of nations is now widely
acknowledged within the literature. Experts in the field were of the opinion
that entrepreneurship is regarded as a catalyst for economic growth, employment
and wealth creation, Henry, et al (2003). Furthermore, the European Commission
(2003) shared the same view and in addition suggests that entrepreneurship is a
major driver of innovation, competitiveness and economic strength of a modern
nation. They further emphasize the important role which business education has
in the development of entrepreneurial mindsets and talents especially in
enhancing entrepreneur competency.
Business
education is a widely given high scores on the agenda of many governments. Such
governments depend on the development of entrepreneurship through business
education as the major source for their economic prosperity, growth and
development. It is a kind of new concept which signifies not only quality
education but also pay attention to the development of an individual practical
ability and competency of students. It is also described as a new method of
teaching that promotes students innovative spirit, skills and attitudes which
consequently make them after graduation to suitable career and become
professional business creator, European Commission, (2003) concluded.
This growth
in business education in enhancing entrepreneur competency is reflected
internationally. For example the European Commission (2008a) observes that
almost half of Europe’s students at tertiary institutions have full access to
business education to enhance their innovative competencies in establishing
small venture after graduation. In a related development, Khan and Almoharby,
(2007) highlight the rapid development of the course in Malaysia, Thailand and
the Philippines. The European Commission (2004a), for example, posits that
entrepreneurship is one of the key components to be included in current
educational systems in order to prepare people for successful participation in
society. In fact, the contribution of business education in promoting
entrepreneurship to the world economy is well recognized.
Certainly
business education is considered as a complex subject to study in the context
of teaching and learning because it depends on the individuals self regulated
actions and characteristics that may not be easy to influence. It is against
this background that, there is still ongoing debate whether we can teach
students to become competent entrepreneur (Fiet, 2004). However, there is now a
consensus, in the literature at least, that business education can be taught
and the debate has now shifted to what should be taught and how it should be
taught (Ismail, 2011).
It is now
generally agreed that most of researches conducted on business education have
focused on course contents, pedagogical and audience characteristics. In this
respect, the effectiveness of business education can also be measured in terms
of teachers‟ entrepreneurial competencies. The development of business
education however, is not as institutionalized as the development of education
for the traditional management courses. Educators who hold master’s and
doctorate degrees in entrepreneurship are very rare all over the world. In addition,
the uniqueness of the students‟ needs and the course requirements entails
specific and special teaching skills to match the two. One of the perceived
tools to address and match these basic education needs is to first conduct an
analysis of entrepreneurial competencies, Gatchalian, (2010).
A research
conducted in Malaysia indicates that teaching approaches appear to be
inappropriate and educators do not appear to have relevant skills, knowledge or
training. There are so many shortcomings and challenges which the
entrepreneurship educators are facing (Ismail, 2010). The aim of the study is
to examine the entrepreneur competencies required by business education
students in establishing small scale ventures in Akwa Ibom state.
.
1.2
STATEMENT OF THE PROBLEM
For many
developing countries, development of entrepreneurial competencies has been a
powerful engine of economic growth and wealth creation, and is crucial for
improving the quality, number and variety of employment opportunities for the
poor. It has several multiplier effects on the economy, spurs innovation, and
fosters investment in people, which is a better source of competitive advantage
than other natural resources, which can be depleted. Entrepreneurial
competencies in business education students will enable them to create new
enterprises, new commercial activities, and new economic sectors. They generate
jobs for others; they produce goods and services for society; they introduce
new technologies and improve or lower cost outputs; and they earn foreign
exchange through export expansion or substitution of imports.
According to
(Abdullahi, 2008) for countries to accelerate their economic growth and
development, it is necessary for them to build up critical mass of first generation
entrepreneurs because development is now being linked more and more to
entrepreneurs. It stands as a vehicle to improve the quality of life for
individuals, families and to sustain a healthy economy and environment. This
can lead to economic development and the advancement private enterprises.
1.3
OBJECTIVES OF THE STUDY
The
following are the objectives of this study:
To examine
the entrepreneur competencies required by business education students in
establishing small scale ventures.
To identify
the factor limiting the development of entrepreneurial competencies in business
education.
To determine
the factor hindering the establishment of small scale ventures in Akwa Ibom
State.
1.4 RESEARCH
QUESTIONS
What are the
entrepreneurial competencies required by business education students in
establishing small scale ventures?
What are the
factors limiting the development of entrepreneurial competencies in business
education?
What are the
factors hindering the establishment of small scale ventures in Akwa Ibom State?
1.6
SIGNIFICANCE OF THE STUDY
The
following are the significance of this study:
Findings
from this study will educate the general public on the ability of business
education in equipping students with entrepreneurial competencies with a view
of drawing the interest of many youths towards studying business education to
be future entrepreneurs.
This
research will be a contribution to the body of literature in the area of the
effect of personality trait on student’s academic performance, thereby
constituting the empirical literature for future research in the subject area.
1.7
SCOPE/LIMITATIONS OF THE STUDY
This study
will cover the curriculum of business education with a view of ascertaining if
it is capable of developing entrepreneurial competency in students.
LIMITATION
OF STUDY
Financial
constraint- Insufficient fund tends to impede the efficiency of the researcher
in sourcing for the relevant materials, literature or information and in the
process of data collection (internet, questionnaire and interview).
Time
constraint- The researcher will simultaneously engage in this study with other
academic work. This consequently will cut down on the time devoted for the
research work.COMPETENCY
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