Research project topic on: ENTREPRENEURSHIP EFFECTIVENESS IN SMALL SCALE INDUSTRIES (A CASE OF STUDY OF MACON’S BAKERY IN DUSTRY, ENUGU).
The role of small-scale industries to economy cannot be over-emphasized. It is indispensable. Recently emphasis has been on measures to accelerate their expansion and growth. To give this effort proper direction and dimension, it is identifiable that the key ingredient in translating this dream into reality is effective entrepreneurship.The research is able to reveal the characteristics nature of small scale industries, how small scale industries are financial and some of them are from personal savings and relatives, the causes of failures of small scale industries, covered also is the importance and the needed factors to be considered before sitting the industries.
In this regard, the study lay much emphasis on the whole idea of entrepreneurship effectiveness in small scale industries. The solutions and recommendations and subsequently based on the observation and research findings for effectiveness entrepreneurship in small-scale industries.
TABLE OF CONTENT
1.0 CHAPTER ONE: INTRODUCTION
1.1 General Background of the Study
1.2 Problems Associated with the Study
1.3 Purpose of the Study
1.4 Significance of the study
1.5 Scope and Limitation of the Study
1.6 Definition of Important Terms.
1.7 References
2.1 Characteristics of small scale industries
2.3 Cause of Failures of small scale Industries
2.4 Factors to be considered in sitting small scale industry
2.5 Methods of financing small scale industries
2.6 References
3.0 Research Methodology
3.1 Design of the Study
3.2. Area of Study
3.3 The Population of the Study
3.4 Sample and Sampling Procedure
4.0 Presentation and Data Analysis
4.2 Research Question ii
4.3 Research Question iii
4.4 Research Question iv
4.5 Research Question v
4.6 Research Question vi
4.7 Research Question vii
4.8 Research Question viii
4.9 Research Question ix
4.10 Research Question x
4.11 Research Question xi
4.12 Research Question xii
CHAPTER FIVE
5.1 Discussion of Findings
5.2 Conclusion of the Study
5.3 Recommendation
5.4 Implication of the Findings
5.5 Suggestion for Further Findings
5.6 Limitations of the Study
References
CHAPTER ONE
In the past, university graduates had choices of good government jobs with car loans waiting for them on graduation. The segment of the society who got into private business were either the non-graduates or those who are business included and decided to care a niche for themselves in the private business world. Others who may have a family pedigree of success in business practice took to it as of choice.
Today, it is different hence many are forced into self-employment out of desperation and non-availability of white – collar jobs. This research work was therefore focused on the entrepreneurship effectiveness in small scale industries. Meanwhile, the outcome of the research was focused on to prepare our respective minds and like to entrepreneurship as choice rather than out of desperation hence it has created a great light in our country’s (Nigerian) economy.
The roles of small scale industries in the growth of put economy cannot be over-emphasized. This has been the singular reason why both government, groups and individuals in business always play greater emphasis on the unique human activity. This also accounts for it’s dominating prominence in governments policy statements. Many multi-national or even supra-national business today started as small scale business. This therefore implies that small scale is the beginning of every big business.
The present day America is the richest country in the world judging by their economy. The history of industrialization in this “Gods’ own country” has show the absolute importance of small scale industries in the economy and scheme if things. Carefully study and investigation has revealed that in America, only 1/10 of the total number of firms in the economy employ more than 2,500 workers. It was also further shown that 89 of the total firms in the economy employ less than 100 employees, and 65% having less than 20 employees in their payroll. As a standard of judgment, using number of employees, this has at least proved that in-spite of her economic glory, America is not land of giant corporations. Many countries of today like south Korea, Taiwan, Honking and Singapore are making enormous successes in the world export industrial market as a result of emphasis on small scale industries.
As a way out, the efforts of every segment of the Nigerian government for small scale industries enhancement cannot therefore be surprising. Thus, our past administrators, national planners and development project initiators cannot excuse their lack of careful planning in this regard. Therefore, following the result of these failures in our national development and planning strategy, the continue ineffectiveness of our small scale industries have prompted the reason for this work. The research work therefore was on attempt to look into a key and embodying factor in small-scale industrial effectiveness. The scope of the project was limited to a case study of Macon’s Bakery Industry in Enugu State capital.
The general opinion revealed that in spite of it’s key rotes and functions in the success of any ventures of business, adequate entrepreneurial impact has neither been felt nor marched and growth. Investors have not show commendable interest to accept entrepreneurial rate. In spite of all this, there are still multifarious prospective areas in the manufacturing, merchandising and service sectors of the economy that exist, this was actualized through the various efforts made by the government, private individual, industrial agencies toward inducing small scale enterprises. For effectiveness, there is need to make adequate appraisal of entrepreneurial role towards funding of the enterprises to actual managing. These measures will ensure that the reward profit is admired by the entrepreneur.
As said earlier, small was the beginning of large scale. The efforts on small-scale enterprises were stepping – stones to large scale corporation. prosperous individual like Ekenedilichukwu, Ifesinachi, Dantata, Hamza, Adebowole, Sanusi to mention but a few started as small scale industries / business. It should be a waste of time for one to keep waiting for large capital to accumulate before establishment, thus the statement “From Grass to Grace”.
Taking the manpower and development needs of this country into consideration, any capital savings must be re-invested for further capital formation in the best way for multiplier effect on the economy towards small scale enterprises promotion. In effect, our dreams will come to fruition if the necessary linkage between small scale and small scale entrepreneurship.
1.1 GENERAL BACKGROUND FO THE STUDY
The idea being that the glory of any economy, whether industrialized or underdeveloped depends very much on how well organized and managed the small scale industries are. Given this fact, most of the developed countries of the world are champions of small-scale industries.
Actually, the central objective of small-scale enterprise is to make profits for the owner or manager / entrepreneur for expansion purposes. As a result, there should be equilibrium between the goals of the manager and those of the workers to achieve a desired psychological, economic and entrepreneurial effectiveness. Therefore, profit is a reward for an effective entrepreneurship, it has been theorized that integrated industrial development is a foundation to small scale industrial development which consequently act as acid test for entrepreneurship effectiveness.
Therefore, government being very keen has to establish the pace of industrial finding and management to attain the much-needed entrepreneurial development and enterprises in small scale should also be considered by the government.
Furthermore, entrepreneurship effectiveness is a primary function of ventral personal evaluation to determine entrepreneurial qualities. Innovative capabilities and the intended result. The combination of entrepreneurial quality, taking decisions creativeness ingenuity, innovative mind and skill, minimizes the risk and optimizes profit or reward.
It has therefore, based on the above established facts of entrepreneurial and small business circumstance that project writers intend to build some of the assumptions underlying the project topic.
1.3 PURPOSE OF THE STUDY
The researcher’s purpose of the study was to investigate on the challenges of entrepreneurship effectiveness in Macon’s bakery Enugu. Precisely to find out;
1. Whether working capital has been a drawback to the industry.
2. Whether time management has any effect on entrepreneurship effectiveness in Macon’s Bakery Enugu.
3. Whether antiquated modernisms being used in the industry has any effect on entrepreneurship effectiveness in the industry.
4. Whether accommodation has in any form been a setback to entrepreneurship effectiveness in small-scale industry like Macon’s Bakery Enugu.
1.4 SIGNIFICANCY OF THE STUDY
Entrepreneurship effectiveness in small scale industries is not merely a matter of enterprises. The underlying interest is to improve industries. It cannot be agued that the significance of the study was for academic requirement but must be borne in mind that learning institution were established to produce capable entrepreneurs for the efficiency of small scale industries.
At the end of this work, a significant effort will highlight the ideal circumstances for entrepreneurial effectiveness. The organizational risk learners as well as risk mangers would be opportune to avoid themselves of such, the prospective enterprises could make themselves available with materials that could broaden enlightenment on entrepreneurial risk path.
Truly, the awareness of this work is bound to create would no doubt stimulate self-employment among our young and potential graduates induces small scale entrepreneurial growth as well as promotes the productive capacity of our economy.
Therefore, this studied the economic and business needs of our people. It is significantly enlightenment into small scale business and potential of entrepreneurial personality for effectiveness.
In the coursse4 of this project writing, efforts were being made to ensure that all necessary material will be used for a successful research task.
Again absolute are was taken based on the limits information and available data to this discourse “entrepreneurship effectiveness in small scale industries, a case of study of Macon’s Bakery Industry Enugu.
Despite all the level of research exposure of the work, inadequate books relevant to the work, time and most importantly financial resources were constrains to the study.
ENTREPRENEUR: An entrepreneur is one who plans, organizes and manages a business. He is the undertaker of entrepreneur personality. He has a financial commitment and assumes all the risk in the business. His reward for effectiveness is optional profits.
ENTREPRENEURIAL AND ENTREPRENEURSHIP: This means the skill process and act of assuming an entrepreneur. It is also a way of introducing new ideas in responses to one’s situation or simply a creative innovations.
EFFECTIVENESS: This implies the ability to produce the intended or actual result, being efficacious and efficient.
ENTREPRENEURSHIP EFFECTIVENESS: This means a situation whereby ventures are backed up with adequate analysis of entrepreneurial personality or qualities towards the business, thereby making a desirable profit in equity. It also connotes adequate entrepreneurial stimulation setting up an eventual managing.
SMALL SCALE INDUSTRIES: These are those industries which have an independent management, owners supplied capital, mainly local areas of operation, relatively small within the industries. Small scale industries are generally how in terms of number of people or persons employed and in the amount of investment and annual business turn over. Infact, a small scale industry seems less systematic and formalized than what can reasonably appear a medium or large scale industry.
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