RELEVANCE OF ENTREPRENEURIAL DEVELOPMENT TO SELF EMPLOYMENT OF OTM GRADUATES

       CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

          Prior to the 1990s, the view that large firms were the cornerstone of a modern economy dominated the literature (Nnanna 2003). The theory of economics of scale, which is predicated on the advantages of large scale operation.

          Thus, entrepreneurial business was seen belonging to the past, out mode and a sign of technology backwardness. More recently, however, this view has shifted due to the important role played by relatively small entrepreneurial business firm in promoting industrialization and facilitating sustainable economic growth and development.      

     The concept of entrepreneurship evokes varying meaning or interpretation, depending on the perspective of the user. However, as duke (2006), put it “an individual who pioneers new technology or introduce a new method of doing business typifies entrepreneur” entrepreneur usually undertakes and operate a new business venture and assumes some accountability for the inherent  risk.

Entrepreneur is an ingrated for both personal and societal benefit. As such the entrepreneur  is a critical factor in driving socio- economic change as he seeks new technique , new product and co-ordinates the activities to  manage an enterprise .

In Nigeria, the development of entrepreneurial activities has manifest in virtually all aspect of the economy including micro- finance, personal service, food, clothing, ICT, telecommunications, entertainment and hospitality and agriculture / agro- business.  These  entrepreneurial  effort have  contributed  to the  attainment  of some  of the  nation economic development  objectives such  contribution  include employment  generation  for the growing  rural  and urban labour force, production output expansion , income  redistribution, utilization  of local  raw  material  and technology , increase  in revenue  base of government, as well as production  of intermediate good that to  strengthen inter and intra industrial linkage (Osuji 2005). Similiary, developed  many  countries such as United State of American , Japan , Germany, Italy and Britain, have been found to owe   their overall Economics  development  entrepreneurship  (Fauas 2006).

The development and growth of entrepreneurship in Nigeria, has remained a concern for the government. The important of a private sector and appreciated from its potential for facilitating food security, employment of the citizenry. These are outcome that are also aligned  with the goals of the national policy on micro, small and medium Enterprises (MSMEs), National Economics Empowerment and Development strategy (SEEDs) and the Millennium Development Goals (SMDGs).

          Entrepreneurial  Development  in Nigeria plays a vital role in the process of economics growth and Development . Entrepreneur  are bold men and women who have initiative and ability to manage and take the consequences. They are men of action, risk taker, missioner, creative and highly respected of their ability to effectively and efficiently concubine the functions of management to achieve the goals.

          During the colonial era, the Nigerian business scene was dominated even at the grassroots level by inclines, Greeks, Ghananians, Sierra lonains and others. These foreign National had a better exposition from the Nigerians and with advantages, it was to dislodge them when the colonial left the scene in 1960. Then, it other to give Nigerians an opportunity in participating and shaping their country economic, future the federal government introduced indigenization and enterprise promotion dance of 1972 and its revision in 1977, the objective was to foster economic self reliance and maximize external intervention in politics.

          Against, the national development plans were introduce and also in July 1986 SAP (Structural Adjustment Programme) was introduced. Entrepreneurship constitutes a vital engine in the growth and development of the nation including Nigeria because it help in the stimulation of indigenous entrepreneurship, lead to the transformation of the traditional industry creates employment opportunities and generate income (Local and  Externally) contributes to regional activity and co-operation etc.

          Based on the preliminary information give on the relevance of entrepreneurial development, it can be deduced that Office Technology and Management graduates in Kwara State have tapped from the seemly endless advantages offered by entrepreneurial development to turn from job seekers to job creators as been emphasized at all levels of government in Nigeria and Kwara government in particular.