EXPLORING THE DETERMINANTS OF ENTREPRENEURSHIP AMONGS GRADUATES IN NIGERIA
ABSTRACT
This study looked into the factors that influence entrepreneurship among graduate students in Nigeria. This study’s data was gathered through a questionnaire survey. A structure questionnaire was used to sample 65 students from the Delta State University Asaba Campus, who were studying management and agricultural sciences. The multiple means test and the T-test for independent means.
We discovered that background variables have no significant impact on exploring the determination, desire, and need for achievement. We also discovered that attitude, national pride, and start-up experience are positively related to entrepreneurial intentions.
Future research should consider entrepreneurial intentions for graduate students in Nigeria, as well as what factors are related to and may influence individual behaviors. They should also pay more attention to background variables than to large population sizes in order to stimulate economic growth in Nigeria.
Choosing a career as an entrepreneur and establishing a personal business can be an exciting and rewarding experience for young people. Given Nigeria’s current high rate of unemployment, entrepreneurship should be a viable and appealing option.
It is widely acknowledged that the university educational system. Its mission is to provide an academic environment that can serve as a catalyst for high-tech start-ups. The factors that surround the decision-making frame of a young Nigeria graduate who intends to pursue a career as an entrepreneur in this study sought to, among other things, determine the attitudes of young Nigeria graduates toward becoming entrepreneurs, as well as what control beliefs influence their intentions.
CHAPTER ONE
2.0INTRODUCTION
1.1 THE STUDY’S BACKGROUND
In most countries, entrepreneurship education has grown steadily but unevenly in recent years. The last decade has been described as an important era in the United States, which has been a trailblazer and leader in the field, with a significant increase in student interest (Fiet 2001a) the figures tend to support this statement.
In 1971, only 16 colleges and universities in the United States offered entrepreneurship education programs; today, there are over 800.
Entrepreneurship is a hot topic in the social sciences, particularly economics. It was not always this way; Schumpeter goes into great detail about the role of entrepreneurship in the process of economic development. He envisions the entrepreneur as a creatively driven individual who “discovers and develops new combinations of factors of production” in order to discover and develop a new product, apply strategy for a new market, or design a new technology.
Universities and business schools in the United States have a relatively long history of fostering entrepreneurs. While the first entrepreneurship courses were taught at Harvard Business School in the 1930s, interest in this field has grown since the 1970s. By 1990, 400 universities in America were estimated to number more than 700 (Vesper and Macmillan 1988: Hills and Morris 1988, Fiet 2001), indicating that progress in this field has been extremely impressive.
1.2 STATEMENT OF THE PROBLEM
Students interested in entrepreneurship as a career option are increasing all over the world. While interest in traditional professional jobs in big business is gradually declining (Kovereld 1996), the orientation and behaviors of students and young graduates are influenced by a variety of personal and environmental factors.
When there is uncertainty, the outcome can be represented by an expected value that summarizes the potential outcomes and the probability of their occurrence. Profits in business are typically an uncertain function of the entrepreneur’s work effort, with an expected profit level for each effort level surrounded by a variance of profit outcomes due to the impact of unexpected changes in consumer preferences, competition, price and product offerings, macro-economic variables, and so on.
This profit differential introduces the role of additional remuneration for that effort. Profit variance is taken into account by potential entrepreneurs who assess stability (certainty of receiving a pay check every month, avoiding raises, and maintaining current lifestyle)
before deciding to start a new business (Amit, et al 1996) Given the plethora of factors that influence a young Nigerian graduate’s decision to pursue a career as an entrepreneur, it is critical that answers to the following questions be found. What are the factors that influence their decision to become entrepreneurs? What are the subjective norms that underpin their desire to become entrepreneurs? What control beliefs have an impact on their intentions?
1.3 THE STUDY’S OBJECTIVE
1. To identify and stimulate the need for achievement in terms of entrepreneurial intentions.
2. To encourage and shape young Nigerian graduates’ attitudes toward self-employment.
3. To ascertain the entrepreneurial intent of Nigerian graduates
4. To ascertain which control beliefs influence their intention.
1.4 THE STUDY’S IMPORTANCE
Unsurprisingly, most economic theories of entrepreneurship assume that entrepreneurs’ primary economic goals are profit maximization. However, some early theories recognized that entrepreneurs may have non-economic goals, such as the desire to innovate. The venture into uncharted territory, the desire to develop markets and triumph over competitors, and dynastic ambitions.
The idea that entrepreneurs are embedded in a social framework is central to much sociological research (Gramoveter, 1985). Furthermore, as Dyer and Handler (1994) point out, entrepreneurial aspiration and entrepreneurial theories tend to focus on the entrepreneur at the start of a business rather than later in the business cycle.
In general, there are numerous and extremely promising implications and applications of the theory of planned behavior in the field of entrepreneurship. Some of the implications of the theory are related to education and training. Researchers have been able to identify the role of education and teaching variables in the development of perceptions about the desirability and feasibility of entrepreneurial behavior since the early 1980s.
Because owning a business can change one’s life, this paper guarantees and inventory of economic psychological factors that can then be used to develop a model of the determinants of entrepreneurial intentions.
1.5 THE STUDY’S OBJECTIVE
The scope of the study is divided into two parts for proper analysis of the subject matter: spatial and temporal scope. The study is geographically limited to young graduates in Nigeria. It was temporarily carried out over a three-week period.
1.6 TERMS AND CONDITIONS
Entrepreneur: An entrepreneur is someone who starts a new business in the face of risk and uncertainty with the goal of profit and growth by identifying opportunities and assembling the resources needed to capitalize on them, according to Zimmerer and Scarborough (2002).
Proactive: a person who controls a situation by causing events to occur rather than waiting for events to occur and reacting to them.
Autonomy is the ability to act and make decisions without being influenced by others.
Entrepreneurial Behaviour: This factor corresponds to attitudes toward the behavior and is based on beliefs about the positive or negative effects of the behavior.
Attitude: the way you think and feel about someone or something, as well as the way you act toward that person or thing to show how you feel.
Spatial refers to the position, size, shape, and so on of things in space.
Temporal: this is a characteristic of one’s personality. This is a strong desire to possess or perform something.
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EXPLORING THE DETERMINANTS OF ENTREPRENEURSHIP AMONGS GRADUATES IN NIGERIA
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