Entrepreneurs’ Management Competences Required of Business Education Graduates for Small Business Operations
CHAPTER ONE
Objective of the study
The primary objective of this study is to identify and prioritize the management competencies required of business education graduates for successful small business operations. Specifically, the study aims to:
- Determine the essential management competencies that business education graduates need to effectively manage the complexities of small businesses.
- Rank the identified management competencies based on their perceived importance and relevance to small business success.
- Investigate the current educational approaches and curricula in business education programs to assess how well they address the identified management competencies for small business operations.
- Provide insights and recommendations to inform the development of more targeted and effective entrepreneurship education programs and initiatives.
CHAPTER TWO
REVIEWED OF RELATED LITERATURE
INTRODUCTION
It is apparent that small and medium-sized enterprises play an important role in developing economies of nations, with a focus on the micro to small enterprises (Leithy, 2017). In a study carried out by Abdulkareem (2016) who investigated the differences in entrepreneurial competencies and effective business management among business education students in Usman Danfodio University, Sokoto, Sokoto State which employed crosssectional design, a sample of 235 students consisting of 115 male and 120 females was drawn from the population using simple random sampling technique. The instrument used was interview questions and a questionnaire titled: Entrepreneurial Skills and Effective Business Management Questionnaire (TTSPLLOQ). The data collected were analyzed using one-way (ANOVA) and tested at varying degrees of freedom. It was discovered that there exist difference in entrepreneurial skills and effective business management among business education students. In a study conducted by Ekpo (2016) on strategic competencies in managing their businesses, the overall result indicates a significant relationship between entrepreneurship competencies and business growths business education students. A successful entrepreneur should be visionary enough to see his established firm’s goals and objective being attained. He/she should be able to identify the opportunities and act on to capture those opportunities utilizing a set of Entrepreneurial Competencies. He/she should be able to lead his established enterprise through the path towards success. In a study by Ekop (2014) on the relationship between; entrepreneurship skills and business growth of business education students in the University of Uyo, Akwa-Ibom State. The results showed that 56% of those sampled have strategic competencies in managing their businesses. The overall results indicate a significant relationship between entrepreneurship competencies and business growths business education students. Creating strategic entrepreneurial competencies model requires small and medium-sized enterprises to play an important role in developing the economies of nations as literature reveals. A successful entrepreneur should be visionary enough to see his established firm’s goals and objective being attained. He/she should be able to identify the opportunities and act on to capture those opportunities utilizing a set of Entrepreneurial Competencies. He/she should be able to lead his established enterprise through the path towards success. This requires the entrepreneur to establish a set of business and management competencies, and in order to do so, he/she should be able to select the right team to help him achieve the goals, which requires the Entrepreneur to have some level of strategic competencies to be developed. Throughout the life of his newly established enterprise, he/she will need to sell his ideas to different stakeholders, which requires him/her to have a certain level of business development and conceptual and relationship competencies. Strategic competence indicates sufficiency of knowledge and skills that enable someone to act in a wide variety of situations, because each level of responsibility has its own requirements. Marketing skills are skills applied to traditional marketing functions like advertising, sales, promotion, public relations, marketing research and brand management.
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.
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 Entrepreneurs’ Management Competences Required Of Business Education Graduates For Small Business Operations. 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 ascertain Entrepreneurs’ Management Competences Required of Business Education Graduates for Small Business Operations
Summary
This study was on entrepreneurs’ Management Competences Required Of Business Education Graduates For Small Business Operations. Three objectives were raised which included: 1. Determine the essential management competencies that business education graduates need to effectively manage the complexities of small businesses, rank the identified management competencies based on their perceived importance and relevance to small business success, investigate the current educational approaches and curricula in business education programs to assess how well they address the identified management competencies for small business operations and Provide insights and recommendations to inform the development of more targeted and effective entrepreneurship education programs and initiatives. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected SMEs in Lagos. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
In conclusion, this study has shed light on the essential management competencies required of business education graduates for successful small business operations. Through a comprehensive analysis of factors such as financial management, marketing, leadership, innovation, strategic planning, risk management, and ethical conduct, key insights have been gleaned to inform entrepreneurship education and practice.
Recommendation
Based on the findings of the study on Entrepreneurs’ Management Competencies Required Of Business Education Graduates For Small Business Operations, the following recommendations are proposed:
- Educational institutions should review and revise their entrepreneurship education curricula to ensure alignment with the identified management competencies. Integrate practical, hands-on experiences, case studies, and real-world simulations to provide students with opportunities to develop and apply these competencies in diverse business contexts.
- Encourage collaboration with industry partners, incubators, accelerators, and small businesses to facilitate experiential learning opportunities for students. Internships, apprenticeships, and entrepreneurial projects enable students to gain practical insights, network with professionals, and apply theoretical knowledge in real-world settings.
- Incorporate emerging technologies, digital tools, and innovation frameworks into entrepreneurship education programs. Equip students with the skills and knowledge to leverage technology for business growth, digital marketing, e-commerce, data analytics, and process automation in small business operations.
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