ASSESSMENT OF ENTREPRENEURIAL SKILLS NEEDED BY BUSINESS EDUCATION GRADUATES IN DELTA STATE, NIGERIA
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- NGN 5000
Background to the Study
Entrepreneurship deals with the process of recognizing a business opportunity, operating and maintaining that business. However, people engage in it without acquiring much skills and competences that will enable them to effectively operate businesses and also enhance their success in whatever walk of life (Salome, Osita & Marcel, 2012). The greatest of human endowments are intelligence and entrepreneurship (Ottih, 2000). Entrepreneurship is an exciting field of study. According to Hisrich, Peter and Shepherd (2008), it is now widely accepted by the society in general that individuals who study entrepreneurship are three to four times more likely to start a business, and will learn 20 to 30 percent business success strategies more, than students studying in other fields. The benefits of entrepreneurial activity are not restricted to entrepreneurs alone. Rather, entrepreneurs have impact on the well-being of the economy as a whole. Entrepreneurship is a process of bringing together creative and innovative ideas, combining them with management and organization 2 skills in order to combine people, money and resources to meet an identified need and thereby create wealth (Agomuo, 2002). It is the willingness and ability of an individual to seek out investment opportunities, establish and run an enterprise successfully. Entrepreneurship is thus, the process of learning the skills needed to assume the risk of establishing a business. Entrepreneurship refers to an individual‟s ability to turn ideas into action. It includes creativity, innovation and taking calculated risks, as well as the ability to plan and manage projects in order to achieve objectives. The knowledge of entrepreneurship supports people in their day-to-day life activities thus thus enhancing economic survival (Marques, 2010). Akpotowoh and Amahi (2006) opined that the skills acquired in business education promotes training in entrepreneurship as well as equipping graduates with requisite skills to establish and run small businesses of their own. According to Ademiluyi (2007) entrepreneurship skills are simply business skills which individuals acquire to enable them effectively function in the turbulent business environment as an entrepreneur or in self-employment. Akinola (2001) pointed out that it takes special skills to succeed as an entrepreneur. Erhurun (2007) also noted that most entrepreneurial skills come by learning and practicing. 3 Nevertheless, the various skills embedded in business related programmes vis-à-vis business education need to be explored and learnt by prospective graduates for them to succeed as later entrepreneurs and or to aid them for economic survival in a turbulent economy. However, graduates of business education without the relevant entrepreneurial skills will find the labour market most unrewarding and unfavourable in terms of creating jobs, instead they will be seeking jobs where non-exists (Salome, Osita & Marcel, 2012).
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