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ABSTRACT
The objective of this project was designed to investigate and encourage Office Technology and Management students of Ken Saro-Wiwa polytechnic, Bori on the importance of being an entrepreneur. To be able to carry out this study, the researcher reviewed relevant literature on the issue to form the theoretical base of the subject. Two examples of the purpose of the study used are: (i) to determine the coping strategies of Office Technology and Management students for entrepreneurial development; (ii) to measure the paramount importance of entrepreneurship in our Nation. Two examples of research questions posed are: (i) the challenges facing Office Technology and Management students in entrepreneurial economy; (ii) the implications for entrepreneurial development in Office Technology and Management in tertiary institutions. The main instrument used in collecting data for the study is the questionnaire. The questionnaires consist of sixteen (16) items which were submitted to the project supervisor who corrected and approved it before it was administered. The questionnaires were later administered by the researcher and the data obtained were analyzed using simple percentages. The population of the study was seventy (70) students and all was used for the sample size. The major findings of the study are the inadequate resources and infrastructure and the non-diversification of business education curriculum to carter for entrepreneurial development. Based on the above findings, it was recommended that cooperation with the institutions and students in providing needed resources by the government and the review of business education curriculum to corporate curse that will develop eventual membership in entrepreneurial development should be done.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Entrepreneurship as a concept is the willingness ability of an individual to identify and successfully carry out investment opportunities in an environment. observed that entrepreneurship is the capacity and attitude of the individual or group of individuals to undertake ventures with the probability of success or failure.
Entrepreneurship as a concept is a business owned, managed, and finances by a person. It is also called a sole proprietorship. The principle motive of this business is profit maximization and promotion of human life. At present, it is taken to mean a process of creating something different with value by devoting the necessary time and effort assuming the accompanying financial, psychological and social risks, thereby receiving the resulting rewards of monetary and personal satisfaction (Lankford, 2004).
Generally, business is the various activities in which people engage their selves in to gain or earn certain standard of living. It also refers to any activity or work which combines the basic economic resources of land, labor, capital and enterprise to satisfy the community needs of goods and services for the purpose of profit.
Therefore, from the above explanation, it is certain that people engage in profitable activates of all kinds, although several professionals claim that they place service first before profit. Thus entrepreneurship is about self-reliance in employment, creativity and in risk taking (Adindu 1994).
Although entrepreneurship is a resent issue for emphasis in our educational institutions, yet its relevance is captured in the National policy for education when it talks about such values as “shared” responsibility for the common good of the society and acquisition of competencies necessary for self-reliance.
Entrepreneurs spend a great deal of time in planning business activities and utilize their time effectively through better management. They are action oriented and highly motivated individuals who take risks to achieve goals. Being entrepreneurial means combining your personal characteristic and resources within your environment and taking advantages of them for rewarding outcome. It also means starting or organizing a commercial enterprise especially one involving financial risk.
Therefore, it is very important that entrepreneurship is highly classified and imposed on students in office technology and management at all cost to ensure that they benefit from it after their graduation from tertiary institution.
Entrepreneurship is the oldest, commonest and simplest form of business ownership, entrepreneurship as a concept is as old as man but began to gain national and international interest right from the middle ages. The increasing attention entrepreneurship is receiving is not a surprise because the challenges of living posed by global economic crunch leaves nobody in doubt that one has to create something new with value, difference and attractive to increase one’s financial status to a living that worth’s it.
In order words, entrepreneurship helps to facilitate the national development through the payment of taxes and also promote competition in the economy, looking on the prospects of entrepreneurship, the orientation and objective of (office technology and management) office managers in meetings, the manpower needs of a nation, entrepreneurial education becomes very imperative for the achievement of global education, economical and industrial goals. Modernly, no nation can achieve the employment goals without emphasis on entrepreneurial development.
In this context, entrepreneurial development is training the trainee’s to equip them with the necessary skills, knowledge, ability, characteristics, interest and the motivation to be effective and active entrepreneurs. Entrepreneurial development in our economy today provide means of learning to take place which as a function assist in finding true potential of an office manager and in preparing them for greater and higher responsibilities.
1.2 STATEMENT OF THE RESEARCH PROBLEM
Many students after graduation from tertiary institutions remain applicant for a very long period of time and some even resign from looking for jobs and become jobless for life, thereby engaging themselves in unlawful activities, such as kidnapping, oil bunkering, arm rubbery, street and Motor Park taut among other things to earn a living.
Therefore, it became a problem that needed a quick solution and research has proven entrepreneurship to be a solution.
1.3 PURPOSE OF THE STUDY
The major aim of this study is to determine the importance of entrepreneurship development in office technology and management students of Ken Saro-Wiwa Polytechnic, Bori.
Other subsequent purposes are:
1) To determine the coping strategies of office technology and management students for entrepreneurial development.
2) To examine the implications for entrepreneurial development in OTM in tertiary institutions.
3) To measure the paramount importance of entrepreneurship in our nation.
4) To identify the challenges facing office technology and management students in entrepreneurship economy.
5) To determine the challenges facing entrepreneurship development in tertiary institutions.
1.4 THE SIGNIFICANCE OF THE STUDY
The study is very significant because it will impact entrepreneurship knowledge to office technology and management students of Ken Saro-Wiwa Polytechnic and guide them for their future training. The information is beneficial to students because it will enable them realize why most of them should be on their own business after graduation and this work will also serve as a reference book to future researchers.
1.5 RESEARCH QUESTIONS
This study investigates the challenges and involvement of entrepreneurial development in office technology and management in tertiary institution, specifically to determine the following questions.
- What are the coping strategies required of an office technology and management study for entrepreneurial development in tertiary institutions?
- What are the implications for entrepreneurial development in office technology and management in tertiary institutions?
- What is the paramount importance of entrepreneurship in our Nation?
- What are the challenges facing office technology and management students in entrepreneurship economy?
- What are the challenges facing entrepreneurial development in tertiary institutions?
1.6 DELIMITATION OF THE STUDY
The study was delimited to the determination of the challenges and the implications of entrepreneurial development in office technology and management students of Ken Saro-Wiwa Polytechnic Bori.
1.7 LIMITATIONS OF THE STUDY
Some few challenges were faced during the execution of this project/study. These challenges include the following constraints: time, money and dysfunctional equipments.
TIME: Due to some personal problems experienced at the time of this project, time needed for the work was compromised so time used was limited.
MONEY: The fund needed to execute this project was short-coming. Due to the present poor nature of the economy, it was difficult to get the money when necessarily needed.
DYSFUNCTIONAL EQUIPMENT: This problem also really affected the speed of executing this project due to the frequent network problems, instant short down of the system and corruption of system files.
1.8 DEFINITION OF TERMS
ENTREPRENEURSHIP: A form of business creation/establishment for the aim of making profit by one or many persons.
DEVELOPMENT: The process of growing. In the course of this study, development refers to the application of new ideas to practical problems.
SOLE PROPRIETORSHIP: It is a form of entrepreneurship that is being created, owned and managed by one person who enjoys or suffers all the profits and losses of the business alone but for the sole aim of making profit.
BUSINESS: A person’s occupation, work or trade done for the aim of making a particular standard of living.
ECONOMY: For the purpose of this study, economy is the effective management of the resources of a community. It is the system of production, distribution and consumption.
BUDGET: An itemized summary of intended expenditure, usually coupled with expected revenue.
OTM: Office Technology and Management.