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The Entrepreneurial Orientation Skill as Determinant of Small Business Growth

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CHAPTER ONE INTRODUCTION 1. 1Background to the Study Skill as basic ability is the means by which man adjust to life. A person’s attitude and work functions are required and necessary antidotes suggesting the suitable skills performance and acquisition of same by going through a given work sample. In the work place, skill is what the workers give in exchange for numeration. If the skill (or the cluster of skills popularly referred to as aptitudes) given is satisfactory, the worker gets satisfaction and the employer gets satisfactoriness in correspondence.

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This process, if sustained culminates in promotion, retaining and prolonged tenure that leads to productivity (Lofquist & Darwist, 1967; Adeyemo, 2003). On retirement from active working life, man’s repertoire of skills will no longer be relevant to help him to adjust to life. He needs new skills on how to enjoy his leisure and adjust in his new way of life. This situation is the same for a handicapped person, a widow or indeed any person whose way of life has changed radically.

Hence man’s rehabilitation in these contexts requires new skills with special consideration to his aptitudes and work functions.

In this case of youth, whole adjustment in the world of worke will rest solely on skill developed and used first at school and later at work; the economic, moral and political time of the nation will in time to come and depend on it and these will from time to time determine its survival (Lofquist & Darwist, 1967; Adeyemo, 2003). Skill is the ability to perform some tasks creditability. Up to a point, the more practice in the doing of specific task the faster and better they can be done. It is associated with know-how while speed and accuracy are some of its traits and characteristics.

Children who love to paint with crayon and water color often develop unusual perspective and excellent representation of nature. McCarthy (1972) has identified six scales and eighteen skills that can be sorted grouped to describe various aptitudes in children for placement, when the promotion and remediation is a highly treasured experience which every good teacher must possess. Acquisition and reinforcement of skills and aptitudes through science laboratories and workshop practice and other curricular and extracurricular ctivities represent the most natural ways of stimulating science education and real life work which lead to high productivity. These considerations underscore the need to focus skill development and assessment in our teacher education and in-service training programmes, more especially in the science based teaching subject areas of physics, chemistry, biology, integrated science, agricultural science, introductory technology, wood work, metal work, electrical electronics, home economics, clothing and textiles etc.

This project wok therefore attempts to explore briefly the concepts of skills acquisition as a determinant of business growth with special considerations of their acquisition on some selected small business in Lagos, Nigeria. 1. 2 Statement of the Problem Financial problem may deprive some student from learning a handwork thereby depriving them the need skill to make them self-employ.

Lack of entrepreneurship teachers and inadequate facilities and equipment for learning pose a great challenge. Lack of interest by the student to learn a handwork also poses a great challenge to skill acquisition. Lack of required skills needed and inadequate training are equally great challenge. Entrepreneurship in particular is attracting the attention of policy makers and researchers because it has been recognized during the last decade as an important untapped source of economic growth.

However, people still lacked some of the important characteristics associated with entrepreneurial orientation (Berger, 2002; Gebremeskel et al 2004) While the effort of youth in developing entrepreneurial orientations necessary for successful entrepreneurship faces serious impediments from institutional and informal practices, far less has been done empirically to examine the relationship between skill acquisition and its influence on the level of performance especially in the Nigerian context.

Thus, this study attempt to examine the extent of skill acquisition as a determinant of small business growth 1. 3 Objectives of the Study The major objective of this study is to examine the entrepreneurial orientation skill as determinant of small business growth. Attempt is also made to achieve the following sub-objectives. To: i. Examine the relationship between skill acquisition and performances of small scale businesses. ii. Examine the factors or challenges that influence and hinder the development of skill acquisition. iii.

Assess the extent to which poor or lack of skill diminish the performances of small scale entrepreneurship. iv. Offer suggestions through recommendations on how the performance in small scale businesses can be enhanced through the acquisition of entrepreneurial skill. 1. 4 Research Questions To give direction to this study, answers to the following questions are relevant. i. Is there any significant relationship between skill acquisition and performances of small scale businesses? ii. What are the factors or challenges that influence and hinder the development of skill acquisition? ii. To what extent does poor or lack of skill diminish the performances of in small scale entrepreneurship? iv. Are there any suggestions that could be proffered in order to improve the small scale business through the acquisition of entrepreneurial skill? 1. 5 Research Hypotheses Hypothesis I H0: There is no significant relationship between skill acquisition and performances of small scale businesses. H1: There is a significant relationship between skill acquisition and performances of small scale businesses Hypothesis II

H0: There are no significant variations in the factors or challenges that influence or hinder the development of skill acquisition. H1: There are significant variations in the factors or challenges that influence or hinder the development of skill acquisition. 1. 6 Significance of the study Understanding and acquisition of essential entrepreneurial skill are necessary strategies and tools in small business growth and these will improve stimulating factors for the development of managerial competencies in business.

Nothing in life is more important to an individual than developing the key leadership and personal management skills that are keys to being an entrepreneur in business enterprise. Furthermore, this study is timely and relevant at such a time when the need for appropriate entrepreneurial orientation for propelling business growth and harnessing employee’s behaviour towards certain expectations is becoming ever increasingly crucial. It is hoped that at the end of this project, its finding contributes to the wide expanse of skill acquisition contribution to business success.

It is equally hoped that the findings and suggestions in this study unveils some of the vital contributions of human capital development and skill acquisition to economic growth and nation building through improved capacity for more employment generation for the massive unemployed in the country. 1. 6 Scope and Limitations of the Study The scope of this study focused on the skill acquisition as a determinant of small business growth in Nigeria however with restriction to five selected small business within the same domain (Surulere local government area of Lagos state).

The five selected SMEs as follows: i. Nuplas Limited, Surulere – Lagos. ii. One, Two And One Beauty And Body Care Nig Ltd iii. Beuhlah Diagnostic and Pharmaceutics limited iv. Dancol purified water limited Surulere -Lagos. v. Castle Soaps Limited Surulere – Lagos According to Adedayo, (2000) every research project has some extraneous circumstances that can create imperfections. A few limitations expected are listed below: i. The limitation of time to carry out a comprehensive study of more locations. ii.

Low rate of response despite measures taken to prevent its occurrence iii. Limitation imposed by finance, this study being self-financed. These apart, this research project will be carried out and reported in a manner consistent with acceptable standards 7. Definition of Terms i. Gender: This is a social construct or category that defines the social relations between women and men in society – relations in which the norm has so often been that women and their needs have been subordinated to men and their needs. ii.

Entrepreneur: Is a person who establishes a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying significant opportunities and assembling the necessary resources to capitalize on them. He could also be regarded as an inventor. An entrepreneur is an individual who owns a firm, business, or venture, and is responsible for its development. iii. Entrepreneurship: Entrepreneurship is the practice of starting a new business or reviving an existing business, in order to capitalize on new found opportunities. iv. Entrepreneurial rientation: The characteristics of acting entrepreneurially to enhance the competitiveness of the firm. Such characteristics may depend on risk taking potential, autonomy in decision making. Innovative and creative abilities, etc. v. Small Enterprises: An enterprises whose total cost including working capital but excluding cost of land is between one million Naira (N1,000. 000) and one hundred million Naira. (N100,000,000) vi. Medium Enterprise: A company with total cost including working capital but excluding cost of land is more than one hundred million (N100, 000,000) Naira.

REFERENCES Adedayo, O. A. (2000) Understanding Statistics, Revised Edition, Lagos, JAS Publishers. P. 8. Akande, O. O. and Ojokuku, R. M. (2008). “The Impact of Entrepreneurial Skills on Small Business Performance in Lagos – South-Western Nigeria”. International council for small business conference Aruwa, S. A. (2007) “Small and Medium Scale Enterprises (SME) Financing in the Nigerian Capital Market”. Journal of Administration. Vol. 49(5) P. 175-183. Asaolu, D. O. Elumilade T. O and Adereti, S. A (2006) “Appraising the Institutional Framework for Poverty Alleviation Programmes in Nigeria”.

International Research Journal of Finance and Economics. Issue 3. Berger, A . N (2002) Small Business Credit Availability and Relationship Lending: The significance of Hank 0iganisational Structure. Federal Reserve Board Working Paper, Washington D. C Gebremeskel H. Tesfa G. Gebremedhin, M and Randall W. J (2004) The Role Of Small Business In Economic Growth And Poverty Alleviation In West Virginia: An Empirical Analysis. Research Paper 3 Hamid, K and Abaidullah (2006) “Financing the Small and Medium Scale Enterprises in Faisalabad” ( Pakistan).

Journal of Agriculture and Social Science. Vol. 2, No. 2, pp1-4. Isidore, E. Norsiah, B. M and Razli, C. R (2010) “The Effect of Microfinance Factors on Women Entrepreneurs’ Performance in Nigeria: A Conceptual Framework”. International Journal of Business and Social Science Vol. 1 No. 2; Pp. 255-263 Lumpkin, G. T. & Dess, G. G. (2009). ” Linking two dimensions of entrepreneurial orientation to firm performance: The moderating role of environment and industry life cycle”. Journal of Business Venturing, 16: 429–451. CHAPTER THREE RESEARCH METHODS 3. 1 Introduction

This chapter is specifically designed to present the procedures and methods adopted in the conduct of this study in order to achieve its desired objectives. To this end, this chapter consists of the following sub-headings: research design, population of study, sampling techniques and size, description of research instrument, administration of the instrument, sources of data collection, method of data analysis, and limitation of the methods. 3. 2 Research Design The study would employed a descriptive survey design. A descriptive survey design is suitable for studies involving field enquiries by collecting data over a period of a time.

Moreover, survey design is mainly used for empirical studies that seek to establish relationship between dependents and independent variables. This study seeks to evaluate the relationship between skill acquisition and small business growth. 3. 3Population of the Study The target population of this study consisted of all small business enterprises in Surulere Local Government area of Lagos State. From the attendant register of the selected small business enterprises which constituted the sample frame, the following population would be distributed among the organisations.

Table 3. 1 Population distribution among study organisations |S/N | Organization |Population Size | |1. |Nuplas Limited, Surulere – Lagos. |10 | |2. |One, Two and One Beauty and Body Care Nigeria Ltd |10 | |3. |Beuhlah Diagnostic and Pharmaceutics limited |10 | |4. |Dancol purified water limited Surulere -Lagos. |10 | |5. Castle Soaps Limited Surulere – Lagos |10 | | |Total |50 | Source: Field research, 2013 3. 4 Sample Size Determination There is no specific scientific method used to determine the sample size for this study. However, samples would be selected based on the respondents’ readiness and willingness to assist in filling out the data collection instrument, as a number of them might give excuses on time constraint.

However, by expressing the willingness to participate in the study, the researcher would be given each sample a fair chance of participating in the study. Based on the above, 50 respondents would constitut those that might appropriately complete the research instrument. 3. 5Sample Technique and procedure For the purpose of collecting timely and relevant data for this study, five small scale business enterprises in Surulere local government area would be purposively selected. The organisations selected for this study are: i. Nuplas Limited, Surulere – Lagos. ii.

One, Two And One Beauty And Body Care Nig Ltd iii. Beuhlah Diagnostic and Pharmaceutics limited iv. Dancol purified water limited Surulere -Lagos. v. Castle Soaps Limited Surulere – Lagos These organisations were purposively selected because as at the time of this study, their owners and most of the operating employees were female. Hence, the probability of collecting relevant data and responses from these set of participants was considered by the researcher to be high. In addition, the choice of the above small scale firms was arrived at after taking proximity and logistics constraints into considering.

From these enterprises, 50 respondents which consist of randomly selected management executive and staff will constitute the sample size for this study. The respondents’ profile would contain at least one member of the management executive and one member of staff meaning that the study would select sample across two obvious management levels (senior and junior staff) that are mostly available in the selected SMEs. The sampling procedure is therefore based on stratified sampling method (that is, based on management levels) and area sampling because the study covered participants from Surulere local government area in Lagos State.

So, from each of the selected small and medium scale business enterprise in the area, respondents would be conveniently selected to give their sincere opinions on the variables of the study by filling the research instrument. 3. 7 Sources of data The major source of data in this study is primary data. This data would be obtained through questionnaires administered to selected senior, middle and junior level staffs of the five selected small scale enterprises.

However, secondary research data would be sourced from the Annual Report and on- line journal materials. The copies of questionnaire would be personally administered to respondents at their various duty posts. 3. 8Research Instrument and Design In order to carry out this research successfully, questionnaire would be adopted as the appropriate research instrument. The questionnaire is designed in such a way that it would facilitate the desired responses from the participants in the study. The questionnaire would be made up of three sections: A, B and C.

The questions in section A are meant to collect relevant information about the personal background of the respondents, and then Section B of the instrument contains twenty (20) simple but relevant questions centered on the major variables of the study arranged in a 5-point Likert scale. Section C consisted of open-ended structured questions that enable respondents to express themselves further. 3. 9 Validity of Research Instrument In order to determine the ability of the research instrument to measure what it is designed to measure and the extent of its capability to do so. A validation of the instrument is always done.

To ensure the validity of the instrument, experts in research field have reviewed it and it has been finally submitted to the project supervisor for approval. The content, context and face validity of the questionnaire would be certified before it would be administered. 3. 10 Reliability test of Research Instrument Reliability of the research instrument is the degree to which the instrument consistently measures what it intends to measure. It stands to determine the reliability of the responses of the various respondents to the research questions. The items selected for the survey would be taken from scales with established reliability.

The reliability of questionnaire items and its scale would be checked and certified by the project supervisor. To further ensure the reliability of the instrument of this study, a pilot survey would be carried out on twenty staff of another organization bearing similar characteristics with that of the surveyed organizations. On the whole, questionnaire items would be clearly understood by the pilot respondents. 3. 11Method of Data Analysis For analysis of data, all data to be collected from the field would be processed by grouping them on the basis of the stated research questions.

Tables and charts were constructed for data presentation where necessary to facilitate lucid presentation of facts. The process of the data analysis would be commenced by subjecting the raw-data gathered to descriptive statistical analysis with the use of frequency table and percentages. Hypotheses would be tested using the Pearson’s product moment correlation and cross tabulation with Chi- square techniques. SPSS computer software version 15 would be used to processed data for this study. Distance Learning Institute Department of Business Administration University of Lagos. Akoka- Yaba Lagos State Dear Sir /Madam,

QUESTIONNAIRE: SKILL ACQUISITION AS A DETERMINANT OF SMALL BUSINESS GROWTH I am a final year student of the above named institution. I am currently carrying out a research study on the above stated topic. This is part of the requirements for the award of B. Sc degree by the University. Kindly fill the questionnaire as honestly and objectively as possible. All information supplied will be treated with utmost confidentiality and used mainly for academic purpose. Thank you in advance for your cooperation. SECTION A: SOCIO – DEMOGRAPHIC DATA Kindly indicate your preferred option by ticking one of the codes. S/N |QUESTIONS | RESPONDS OPTIONS |CODES | |1. |Gender |Male |1 | | | |Female |2 | |2. |What is the size of your enterprise|a) micro (1- 9 employees) |1 | | |in terms of employees? b) small (10 – 49 employees) |2 | | | |c) medium (50- 249 employees) |3 | | | |d) large (250+ employees) |4 | |3 |At what age did you start your own |a) below 20years |1 | | |business? b) between 20 – 40years |2 | | | |c) between 41- 50years |3 | | | |d) above 50 years |4 | |4 |What is the nature of your |a) Manufacturing |1 | | |enterprise? b) Services |2 | | | |c) Health service |3 | | | |d) trading |4 | | | |e) Others——————————————— |5 | |5 |What is your highest educational |Primary education |1 | | |background? |Secondary education |2 | | | |Tertiary (University or college education) |3 | |6 |What legal form is your business |Private Limited Company |1 | | |organization? Public Limited Company |2 | | | |Partnership |3 | | | |Sole Proprietorship (one man business) |4 | | | |Family Owned Business |5 | |7 |What is the origin of your present |I started it by myself |1 | | |business enterprise? |It was acquired from others 2 | | | |It is an inherited family business. |3 | Section B This section of the questionnaire is made up of structured items to which you are expected to indicate your degree of agreement or disagreement according to your perception of the issue(s) at stake. Please note that SA stands for strongly agree; A stands for agree; U stands for undecided, D stands for disagree while SD stands for strongly disagree. Please do not tick (() more than one box in response to a specific statement. Please indicate how much of a challenge have the following been for you in successfully developing your entrepreneurial orientation.

Kindly note that 4= Very challenging, 3=Simply challenging, 2= Indifferent, 1=Not challenging |S/N |Factors impeding skill acquisition |4 |3 |2 |1 | |1 |Attittude of people pose a great challenge in skill acquisition | | | | | |2 |The overall male domination in the entire business & entrepreneurship area I have chosen | | | | | |3 |Lack of proper knowledge about availability of raw materials and low-level negotiation and | | | | | | |bargaining skills. | | | | | |4 |Tedious process of obtaining external financing from banks and other credit institutions. | | | | | |5 |Financial institutions general distrust about the entrepreneurial seriousness & abilities of | | | | | | |entrepreneurs. | | | | |6 |Amount of time and effort required to combine family and work. | | | | | |7 |Commitment to personal or family responsibilities. | | | | | |8 |Inability to get help for the household while running the enterprise | | | | | |9 |The cumbersome process formerly registering the business. | | | | | |10 |Educational Institutions and even government agencies doing little or nothing to promote | | | | | | |entrepreneurship. | | | | | Please tick the appropriate option accordingly S/N |Entrepreneurial Performance |SA |A |U |D |SD | |1 |Lack of entrepreneurial orientation has adverse effect on survival rate of owned enterprises | | | | | | |2 |The profitability of most owned business enterprises is greatly hampered by low entrepreneurial | | | | | | | |orientation | | | | | | |3 |Income generated from sales and service operations depend on the entrepreneurial abilities of | | | | | | | |business owners | | | | | | |4 |The level of providing employment to the society’s population depends on the entrepreneurial | | | | | | | |development. | | | | | | |5 |The ability to effectively play social and community roles is greatly influence by | | | | | | | |entrepreneurial orientation towards the running of business. | | | | | |

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The Entrepreneurial Orientation Skill as Determinant of Small Business Growth. (2016, Sep 16). Retrieved from https://graduateway.com/the-entrepreneurial-orientation-skill-as-determinant-of-small-business-growth/

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