Entrepreneurship Initiative for Poverty Reduction Among the Youth in Gyatakrom
Chapter One
Purpose of the Study
The main purpose of this study was to investigate the entrepreneurship initiative for poverty reduction among youths in Gyatakrom.
Specifically the study sought to:
- Identify the Entrepreneurship Ideas needed to reduce poverty among youths in Gyatakrom.
- Find out ways entrepreneurship Initiative can enhance socio economic status.
- Find out Problems facing the Entrepreneurship Initiative among youths in Gyatakrom.
- Proffer solution to the problem of entrepreneurship ideas among youths in Gyatakrom.
CHAPTER TWO
REVIEW OF RELATED LITERTURE
Theoretical Review
This study was guided by the Individual/Opportunity Nexus Theory by Shane (2003). The theory suggests that opportunities are objective, individuals are unique, and that entrepreneurs are risk bearing. In the individual/opportunity nexus view, opportunities have an objective component and these opportunities exist whether or not an individual recognizes them (Shane & Venkataraman, 2000; Shane, 2003). Opportunities are derived from the attributes of the industries (or markets) within which an entrepreneur is contemplating action. Thus, if an entrepreneur understands the attributes/structure of an industry, he or she will be able to anticipate the kinds of opportunities that exist in that industry. For example, the primary opportunity in fragmented industries is to exploit economies of scale in order to consolidate these industries. The primary opportunities in mature industries are to refine products and engage in process innovations to improve quality and lower costs. This view contends that understanding entrepreneurial opportunities is important because the characteristics of an opportunity influence the very value that the opportunities might create. The second assumption of the individual/opportunity nexus is that entrepreneurship requires differences in people and these differences manifest themselves in the ability to recognize opportunities (Shane, 2003). Individuals in this view are “alert” to existing opportunities. Entrepreneurial alertness is an attitude (emotional state with a pre-disposition for action) of receptiveness to available — but currently overlooked by human actors – opportunities in a market (Kirzner, 1997). From Kirzner, this assumption recognizes that the entrepreneurial nature of human action refers to more than just the action taken, but additionally refers to the human agent that is at all times spontaneously on the lookout for unnoticed market imperfections that might inspire new activity. Entrepreneurial alertness is not a deliberate search, but the constant 8 scarnring of the environment by an entrepreneur who notices market imperfections. The recognition of these market imperfections are accompanied by a sense of “surprise” that the imperfection had not previously been recognized. These alert individuals are on the lookout for imperfectly distributed information about potentially miss-priced resources that they may have access to before others. However, while these opportunities may exist independent of economic actors, an economic actor must act on the opportunity since the opportunity lacks agency, and individuals can only earn profits if they recognize the opportunity and its value. The third assumption of this theory is that, risk-bearing is a necessary part of the entrepreneurial process (Shane, 2003). An analysis of assumptions one and two further supports the conclusion that the individual/opportunity nexus assumes conditions of risk. The notion that opportunities are objective by definition assumes risk. In order for the assumption that an opportunity is objective to hold true the existence of the opportunity is merely a matter of some economic actors having differential information. The assumption of imperfectly distributed information is based in neo-classical economics and assumes all relevant information about technologies, demand, and other determinants of market competition are known to be available, but may be costly to acquire. The economic actor in this view is simply able to acquire the information at a lower cost than other economic actors and this becomes the source of profit.
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
POPULATION OF THE STUDY
According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.
This study was carried to examine entrepreneurship initiative for poverty reduction among the youth. Selected residents in in Gyatakrom forms the population of the study.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain entrepreneurship initiative for poverty reduction among the youth in Gyatakrom. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of entrepreneurship initiative for poverty reduction among the youth in Gyatakrom.
Summary
This study was on entrepreneurship initiative for poverty reduction among the youth in Gyatakrom. Four objectives were raised which included; Identify the Entrepreneurship Ideas needed to reduce poverty among youths in Gyatakrom, find out ways entrepreneurship Initiative can enhance socio economic status, find out Problems facing the Entrepreneurship Initiative among youths in Gyatakrom and proffer solution to the problem of entrepreneurship ideas among youths in Gyatakrom. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected youths in Gyatakrom. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
This research concludes that entrepreneurial skill acquisition enhances self empowerment; job creation thereby reduces poverty in Gyatakrom. However, entrepreneurial skill acquisition seems not to have been fully utilized in Gyatakrom thereby poverty and unemployment are still visible in Gyatakrom.
Recommendation
Premised on this, the study recommends that personal characteristics be enhanced especially on the youths through training and development. More so, interpersonal and personal skills be adequately integrated on the youths through periodic training and retraining as through this entrepreneurial pedagogy and tenacity required to operate business ventures successfully will be acquired thereby creating employment and reducing poverty in Gyatakrom.
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