The Role of Business Education in the Development of Entrepreneurship
Chapter One
OBJECTIVE OF THE STUDY
The objectives of the study are;
- Examine the role of business education in the development of entrepreneurship.
- To examine the benefits of entrepreneurship development through business education.
- To examine the challenges of business education in the development of entrepreneurship.
- To evaluate measures of reducing the challenges of business education in the development of entrepreneurship.
CHAPTER TWO
REVIEW OF RELATED LITERATURE
CONCEPT OF BUSINESS EDUCATION
Business education is one of the major components of vocational education. In Nigeria, the discipline is offered at both the secondary and tertiary levels of education. According to Abdullahi (2002), Business education is an aspect of total educational programme which provides the recipient with knowledge, skills, understanding and attitude needed to perform well in the business world as a producer or consumer of goods and services. Furthermore, Osuala (2004) is of the opinion that Business education is a broad area of knowledge that deals with a nation’s economic system and also identifies and explains the rate of business contentment and experience that prepare individuals for effective participation as citizens, workers and consumers. Finally, The National Open University of Nigeria (NOUN) (2008) defines Business education as an aspect of vocational education that equips people with necessary skills and theoretical knowledge needed for performance in business world either for job occupation or self-employment.
It could be deduced from the definitions above that Business education is an education for and about business. It combines both theoretical and practical knowledge. In the same vein, it exposes the recipient to the economic system of his country and equips him with lifelong skills that would enable him to make reasonable judgement as a producer (entrepreneur), employee or consumer of goods and services. Finally, Aliyu (2013) stated that the purpose of Business education stresses the need for:
- Specialized instruction to prepare students for career in business.
- Fundamental instruction to help students assume their economic roles as consumers, workers and citizens.
- Background instruction to assist students in preparing for professional careers requiring advanced study.
CONCEPT OF ENTREPRENEURSHIP
Entrepreneurship is a multi-disciplinary concept. Aruwa (2006) states that the concept of entrepreneurship is not restricted to business or economic operation. It is also obtainable in non-business operations. He however stated that in the business cycle, entrepreneurship is a distinct resource and a necessary condition for business success.
According to Igwe in Adeyeye (2008), entrepreneurship has to do with the process of bringing together creative and innovative ideas as well as management and organizational skills so as to be able to integrate man, machineries and other organizational resources for the purpose of satisfying the identified needs of the customer, thereby creating wealth. Similarly, Kutatko and Hodgett in Mainoma and Aruwa (2008) are of the conviction that entrepreneurship is a dynamic process of vision, change and creation which requires the use of energy and passion for the purpose of creating and implementing new ideas and creative solution. Finally, Hisrich and Brush in Mawoli and Aliyu (2010) define entrepreneurship as the:
“process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic and social risk, and receiving the resulting rewards of monetary and personal satisfaction and independence.”
From the foregoing, it could be deduced that entrepreneurship is all about:
- Identification of business opportunities
- Creativity and innovativeness
- Bearing risk to utilize opportunities or implement a new plan(s)
- Good management skills
- Wealth creation
CHAPTER THREE
RESEARCH METHODOLOGY
Research design
The researcher used descriptive research survey design in building up this project work the choice of this research design was considered appropriate because of its advantages of identifying attributes of a large population from a group of individuals. The design was suitable for the study as the study sought the role of business education in the development of entrepreneurship
Sources of data collection
Data were collected from two main sources namely:
(i)Primary source and
(ii)Secondary source
Primary source:
These are materials of statistical investigation which were collected by the research for a particular purpose. They can be obtained through a survey, observation questionnaire or as experiment; the researcher has adopted the questionnaire method for this study.
Secondary source:
These are data from textbook Journal handset etc. they arise as byproducts of the same other purposes. Example administration, various other unpublished works and write ups were also used.
Population of the study
Population of a study is a group of persons or aggregate items, things the researcher is interested in getting information the role of business education in the development of entrepreneurship. 200 staff of selected SMEs in Uyo, Akwa Ibom state was selected randomly by the researcher as the population of the study.
CHAPTER FOUR
PRESENTATION ANALYSIS INTERPRETATION OF DATA
Introduction
Efforts will be made at this stage to present, analyze and interpret the data collected during the field survey. This presentation will be based on the responses from the completed questionnaires. The result of this exercise will be summarized in tabular forms for easy references and analysis. It will also show answers to questions relating to the research questions for this research study. The researcher employed simple percentage in the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was on the role of business education in the development of entrepreneurship. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of the role of business education in the development of entrepreneurship
Summary
This study was on the role of business education in the development of entrepreneurship. Four objectives were raised which included: Examine the role of business education in the development of entrepreneurship, to examine the benefits of entrepreneurship development through business education, to examine the challenges of business education in the development of entrepreneurship, to evaluate measures of reducing the challenges of business education in the development of entrepreneurship. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of SME in Uyo, Akwa Ibom state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made managers, secretaries, content developers and junior staff was used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
Conclusion
In this study it was discussed that business education is a vital tool that equips students with the needed knowledge and skills to be self reliant. In another vain, business education students can also be productive individuals who will become factors or drivers of the economy by applying the skills and ability learnt in the classroom situation into becoming entrepreneurs. In the event of becoming an entrepreneur such individuals will be able to apply the managerial skills, bookkeeping/accounting knowledge in the business that this are involved either as employees or employers of labour. It Is also pertinent to know that cost accounting knowledge can also help the entrepreneurs to forecast Into the future to know the area of business to Involve, thereby giving him/her the opportunity of making a viable decision that will benefit his/her business projection.
Recommendation
The following recommendations were made:
- The grant should be given to graduates who are ready to start up their own business as this will create employment.
- The graduate students should be encouraged to start up their own entrepreneurial business.
- The environment should be made conducive for business to encouraged entrepreneurs. This is a responsibility of the government and other stakeholders.
References
- Adamu, A. (2009). Small and Medium-Scale enterprises (SMES) In Nigeria: Challenges and the way forward. Ankpa Journal of Arts and Social Sciences (AJASS), 4(1) 38-44.
- Adeyeye, M.M. (2008). Entrepreneurship, small and medium-scale enterprises. Ibadan: EvI Coleman publications.
- Aruwa, S.A.S. (2006). The business entrepreneur: entrepreneurial development, small and medium enterprises (2nd Ed.). Kaduna: Entrepreneurship academy publishing.
- Audretsch, D.B., and Acs, Z.J. (2003). Handbook of Entrepreneurship Research. Boston/ Dordrecht: Kluwer Academic Publishers
- Berg, P. (1996). The performance effects of Modular production In the apparel Industry. Industrial Relations, 35(3), 356-373.
- Ebner, A. (2003). The institutional analysis of entrepreneurship: historist aspects of Schumpeter’s development theory, in Backhaus, J.G. (Ed.), Joseph Alois Schumpeter: Entrepreneurship, Style and Vision, Kluwer, Boston, MA, pp. 117-39