Full Project – An application of entrepreneurship skills in boosting business performance

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CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

In the world today business is the most important and general phenomenon. Everybody wants to go into business with the sole aim of making profit. It is often said that entrepreneurship skills should be applied in every business to boost their performance.

Entrepreneurship however has to do with the wiliness and ability of an individual to seek out instatement opportunity especially through innovation. Establish and run the enterprises successfully as a successful business person who wants his business to go and be able to get more profit has to apply various entrepreneurship skills to help them in their business. Activities for instance someone, like Dangote  who is a famous business man, without him apply entrepreneurship skills in his business such as managerial skills technical skills etc will only find himself running a business. Business which have tom do with buying and selling of goods and service with the aim of making profit needs to apply entrepreneurship skills to achieve their sets goals and objective

1.2     STATEMENTS OF PROBLEMS

The major problems affecting the application of entrepreneurship skills in boosting business performance includes:

1. Lack of entrepreneurship skills which will help to boost the performance of every business organization
2. Inadequate capital it is frustrating for many would be business owners who have variable ideas within business plan and business skill but do not have enough cash to get off the round.
3. Lack of entrepreneurship programs which will help in boosting the performance of business organizations.
4. Inability to draw up a business plan the inability to draw up a comprehensive business plan and having contingency plan business organization.

1.3 STATEMENT OF OBJECTIVES

The fundamental objectives of every entrepreneur is to make profit. The profit can be ascertained when variable (human and material resource) are adequately managed by the management in attaining of the organizational goals. Therefore the aim of this research is to adapt applications and techniques that the entrepreneur can be able to meet with the objectives

There are as follows:

1. To help in the reduction of poverty all over the would
2. To enhance greater employment opportunities through entrepreneurship business
3. To develop and content new entrepreneurship ideas into a new product and service
4. To identify the major impact of entrepreneurship programs in Nigeria

1.4     RESEARCH QUESTIONS

1. Does entrepreneurship skills help in boosting business performance?
2. Does lack of adequate capital contribution to the economic downtown of most entrepreneurs?
3. Does lack of entrepreneurship programs affect the growth of local entrepreneurs in Nigeria?
4. How effective is your business plan in a attaining your goals?

1.5     NEEDS AND SIGNIFICANCE OF THE STUDY

The significance of the study cannot be over emphasized. The study will be a source of reference material to any study or research who may decide to carryout research on any related areas.

The result of the study will also sent as impute to organization on the application of entrepreneurship skills in boosting business performance.

Lastly, the research work will be important to the management and staff of the organization under the study so that they will be able to apply entrepreneurship skills to achieve their set goals and objectives.

1.6     LIMITATION AND DELIMITATION OF THE STUDY

Limitations are element of a study that is not under the control of the researcher. The following are the limitations faced by the researchers.

1. Time constraint: time is vital in all aspect of life. This an expected problems due to the limited time for the completion of which is too short considering the fact that it’s between the researcher
2. Financial constraint: as a student, the researcher is financially incapacitated as the fund available at her disposal minute not be enough to acquire all material needed for the research work due to the general raise in the price of good and also the economic  situation as at the time of these  research work is not favorable. All these factors combine together makes the little money the researcher might have look as though she had nothing.
3. Lack of response from participants: the organization consider some acquired information so confidential there by refusing to give of out.

Inadequate material: this is a result of related material that is not adequate enough compared to the people demanding for them.

DELIMITATION

The study of the application of entrepreneurship skills in boosting business performance was supposed to be reached upon but due to limited time, the researcher decided to limit herself to just only the case study which is dal-mark confessionares industry, Bida Niger state.

1.7     DEFINATION OF TERMS

Entrepreneurship: is the process of creating something with value by devoting the necessary time and distance of business firm.

Entrepreneur: a person who organizes and operates a business ventures and assumers mush of the associated risk.

Skill: an ability and capacity acquired through deliberate, systematic and sustained effort to  something and adaptively carryout compile activities or job function involving ideas (cognitive skill), things (technical skills ) and people (interpersonal skill)

Performance: the accomplishment of given task measured against present non standard of accuracy completeness cost and speed.

Business; also known as enterprise, company or a firm is an organization entity involved in the provision of goods and service to customers.

Profit ; is a financial benefit that is realized when the amount of revenue gained from a business activity exceed the expenses cost and taxes needed to sustain the activity.

Capital : cash or goods used to generate income either by investing in a  business or deference income property.

Management: is the process activities completed efficiency and effectively with and through other people.

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Full Project – An application of entrepreneurship skills in boosting business performance