Powered by eProject Guide ENTREPRENEURIAL DEVELOPMENT ANDITS IMPACT IN OUR ECONOMY (A CASE STUDY OF EBOYI STATE) | eProject Guide

ENTREPRENEURIAL DEVELOPMENT ANDITS IMPACT IN OUR ECONOMY (A CASE STUDY OF EBOYI STATE)

Code: 72E6D7ABC40521  Price: 4,000   61 Pages     Chapter 1-5    6336 Views

ENTREPRENEURIAL DEVELOPMENT ANDITS IMPACT IN OUR ECONOMY (A CASE STUDY OF EBOYI STATE)

CHAPTER ONE

  INTRODUCTION       

1.1     BACKGROUND OF THE STUDY

The worldwide economic depression of the early 80’s caused a rapid deterioration of the Nigeria economy. The output shrank to an all time local and commercial activities, which were consequently reduced, leading to the loss of employment opportunities in the country. Therefore, by the end of 1985, the unemployment situation in Nigeria had increased its proportions and as such most Nigeria graduates were faced with hardship due to unemployment in the country. This situation therefore calls for entrepreneurship in Nigeria economy  which also leads to entrepreneurial development in the higher institution.

However, at this juncture a brief history of entrepreneurship inNigeriawill give more insight on the study. Statistics have it thatAfricais the poorest and less developed continent in world. Many state-owned enterprise in  Africawere created when it was believed that the fastest route to development occurred when the state took on the role of  entrepreneur.

AlthoughNigeriawas at one time characterized by such inefficiency, but has recently pursued entrepreneurship encouragement policies. And the initial indications suggest that the policies have been successful. InNigeria, the state-owned enterprises traditionally clogged business opportunities and restructure private entrepreneurs from entering the market. However, in the mid 1980’sNigeriaabolished it’s marketing board, which prevented entry into certain industries and it’s market to competition from domestic entrepreneurs.

Although Nigeriais still ploughed by many development problems preliminary evidence suggest a favourable response by the private sector to the new entrepreneurial opportunities. Although there is only limited consensus about the characteristics of entrepreneurship, the concept is almost as old as the formal discipline of economics itself. Early 18thcentury French economist named Richard Canadian first introduced the term entrepreneur. In his writings he formally described the entrepreneur as the agent who buys the means of production at certain prices in order to combine them into new product. (Schumpeter,1951) short after that the French economist J. B. added to the Castilian definition by including the idea that entrepreneurs has to be leaders. That an entrepreneur is one who build a single product organism. (Schumpeter, 1951)

The necessity of entrepreneurship for productivity was formally recognized   by Alfred Marshall in 1990. In his famous practice principle of economics,Marshallascertains that there are four factors of production; Land, Labour Capital and organization. These  factors are properly utilized by an entrepreneur. Thus entrepreneur  creates new commodities or improve the plan of producing an old commodity. (Marshall1994).

 

ENTREPRENEURIAL DEVELOPMENT ANDITS IMPACT IN OUR ECONOMY (A CASE STUDY OF EBOYI STATE)


Terms of Use: This is an academic paper. Students should NOT copy our materials word to word, as we DO NOT encourage Plagiarism. Only use as a guide in developing your original research work. Thanks.

Disclaimer: All undertaking works, records, and reports posted on this website, eprojectguide.com are the property/copyright of their individual proprietors. They are for research reference/direction purposes and the works are publicly supported. Do not present another person’s work as your own to maintain a strategic distance from counterfeiting its results. Use it as a guide and not duplicate the work in exactly the same words (verbatim). eprojectguide.com is a vault of exploration works simply like academia.edu, researchgate.net, scribd.com, docsity.com, course hero, and numerous different stages where clients transfer works. The paid membership on eprojectguide.com is a method by which the site is kept up to help Open Education. In the event that you see your work posted here, and you need it to be eliminated/credited, it would be ideal if you call us on +2348064699975 or send us a mail along with the web address linked to the work, to eprojectguide@gmail.com. We will answer to and honor each solicitation. Kindly note notification it might take up to 24 – 48 hours to handle your solicitation.

Material Information
  • ₦4,000.00 1 Price:
  • 61 2 No. of Pages:
  • 5 3 No. of Chapters:
  • No 4 Has Implementation:
FOR ENQUIRIES WE ARE AVAILABLE 24/7

Contact us on

DEPARTMENT
LAW