IMPACT OF ENTREPRENEURSHIP PASSION ON CREATIVE CAPABILITIES OF STOCK OPERATIONS
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IMPACT OF ENTREPRENEURSHIP PASSION ON CREATIVE CAPABILITIES OF STOCK OPERATIONS
Chapter one
INTRODUCTION
Entrepreneurship refers to the conceptual method of creating new products within a new philosophy of value, purpose, utility, quality, and usage that meets needs.
It is the practice of establishing new organisations, especially new businesses, in response to identified possibilities. It also entails identifying opportunities (needs, wants, issues, and challenges) and allocating resources to implement innovative ideas.
Entrepreneurship is frequently a difficult task, as the vast majority of new enterprises fail. Entrepreneurship can range from solo enterprises (in which the entrepreneur works part-time) to large-scale ventures that create several job opportunities. Entrepreneurial activities vary greatly based on the sort of organisation that is being founded.
Furthermore, entrepreneurship is about accepting risks—risks that can be quantified statistically, as well as ambiguity and genuine uncertainty, which is impossible to estimate or anticipate scientifically.
Entrepreneurship is frequently accompanied with serious uncertainty, especially when it requires introducing something completely fresh to the world for which no market exists.
Thus, entrepreneurial activities can provide numerous benefits, including self-employment, employment for others, land development, income generation and increased economic growth, healthy competition,
increased availability of goods and services, development of new markets, promotion of the use of modern technology, reduction of the informal economy, and the development of entrepreneurial qualities and attitudes among potential entrepreneurs.
An entrepreneur is someone who takes initiative, organises and reorganises social and economic systems to achieve profitable outcomes, and accepts the risk of failure. He may also be seen as mercurial, which is prone to insights, brainstorms, deceptions, ingenuity, and resourcefulness.
He could also be crafty, opportunistic, imaginative, and unsentimental. He is more than just an innovator or a promoter; he must be capable of invention, taking and managing risk, hard and concentrated effort, and decisive and long-term achievement.
Entrepreneurs aren’t immune to problems. They include deciding on the sort of product and service, securing financing, the mechanics of launching a business, successful personnel selection, maintaining a high level of morale in the workplace, and expanding and diversifying, among other things.
Passion is the energy that comes from putting more of yourself into what you do. Passion is being who you are. It’s removing the mask and performing what comes naturally. It’s going with the flow of what draws you in, what energises you, and what brings you to life.
Passionate people are those who inject new energy into a conversation, are inspired to wake up every day and give their all to whatever they do, and typically assess success in a variety of ways.
Thus, if one is passionate about a particular objective, no matter what it is, he is likely to succeed. If one wants to succeed, he must be passionate about his aims.
Creativity is a mental process that involves the development of new ideas or concepts, as well as the creative mind’s associations of existing ideas and concepts. Creativity is demonstrated by the creation of a unique and beneficial work.
It involves creating something entirely new, adding new properties or characteristics to an existing objective, imagining previously unknown possibilities, or performing something in a unique way.
Creativity may also be defined as discovering new answers to old problems, whether by inspiring people to work differently or by utilising new technologies and methods.
It also entails discovering new products, ways to market, and markets altogether. It requires vision, desire, and challenge. It stems from a desire to be the best and a refusal to settle for second place.
1.2 Statement of Problem
Stockbrokers are passionate about trading stocks. They buy and sell shares on the Nigerian Stock Exchange’s floor. However, as entrepreneurs, they have the opportunity to explore alternative creative processes. These include margin trading, estate administration, and property divestiture, among others.
A stock broker’s identification with established processes impedes the discovery of new innovative methods. It is also critical to assess the extent to which a stock broker’s strong identification with business processes can influence the development of new ones.
The importance of effective innovative processes cannot be overstated. However, because of their attachment to traditional processes, stock brokers find it difficult to experiment with such novel processes.
As a result, it is critical to identify and discuss the numerous factors of entrepreneurial enthusiasm that affect the amount of originality in stock management.
Innovation denotes an entrepreneur’s ability to transform existing processes into productive and profitable ones. Stockbrokers can experiment with a variety of innovative processes.
However, because of their emotional attachment to present processes, they are unaware of the existence of new inventive processes, much alone investigate them.
The topic of determining the types of innovative procedures that stockbrokers can explore for improved performance is exciting and must be investigated.
Emotional attachment to existing products, services, and processes can hinder a stock broker’s drive to create new ones, limiting their ability to develop new entrepreneurial skills. Thus, it is important to explore how and to what extent a stock broker’s emotional relationship can impede entrepreneurial development.
Stockbrokers, as entrepreneurs, must continuously develop effective products, services, and processes. They are also seen as entrepreneurs who are extremely committed to their business processes, which may have a negative impact on creative processes.
He may find it difficult to abandon or reject such techniques, even if they become outmoded. As a result, it is important to determine how a stock broker’s devotion to existing processes affects his ability to develop innovative, productive processes.
1.3 GOALS OF THE STUDY
1. Determining how an entrepreneur’s identity influences creative processes.
2. Determine whether there is a strong relationship between an entrepreneur’s emotional attachment and creative processes.
3. Determining how an entrepreneur’s dedication influences inventive processes.
4. Identifying a list of innovative techniques that entrepreneurs (stockbrokers) can pursue.
5. Investigating how an entrepreneur’s dedication influences creative processes.
6. Identifying the components of entrepreneurial enthusiasm that impede the development of creative processes.
1.4 Significance of the Study
The significance of the study will be assessed from two separate perspectives: practical and academic.
Practical Significance
The study will help to broaden our understanding of the following:
1. It will demonstrate the influence of an entrepreneur’s dedication to creative processes.
2. It will also include a list of inventive procedures available to entrepreneurs (stock brokers).
3. It will also investigate the impact of an entrepreneur’s emotional attachment on creative processes.
4. It will demonstrate the impact of an entrepreneur’s identification on creative processes.
Academic Significance
This research will have a big academic impact:
1. It will help to enrich the literature on entrepreneurial passion and creative ability.
2. The study will also function as body reserve information that researchers can turn to.
1.5 RESEARCH QUESTIONS.
The research questions pertinent to the study and their answers are stated below:
1. Can a strong link be established between an entrepreneur’s devotion and innovative processes?
2. Is there a link between an entrepreneur’s emotional attachment and the creative process?
3. How does an entrepreneur’s identification with established business procedures influence creative processes?
1.6 Research Hypothesis
The research hypotheses for this project are statements of facts related to the problem areas. They are as follows.
Ho: There is no favourable association between an entrepreneur’s devotion and innovative company practices.
HA: There is a good association between an entrepreneur’s commitment and innovative company practices.
Ho: There is no beneficial correlation between an entrepreneur’s emotional attachment and creative business operations.
HA: There is a good correlation between an entrepreneur’s emotional attachment and creative business operations.
Ho: There is no favourable correlation between an entrepreneur’s identification with established company procedures and new processes.
HA: There is a favourable association between an entrepreneur’s affiliation with traditional business processes and creative processes.
1.7 Methodology
The study’s population consists of all entrepreneurs working in Nigerian stock brokerage firms. However, due to the large size of the population and the costs and time required to cover it, the survey population will be limited to 126 entrepreneurs from selected stock broking businesses.
It will collect primary data through the use of a questionnaire.
This will comprise of 13 questions relating to the research work’s objectives and hypotheses, which will be administered to 126 entrepreneurs. It will help to elicit correct responses from the respondents. The data will be analysed using percentages, tables, and the Pearson Product Moment Correlation Coefficient.
1.8 LIMITATION OF WORK
The following are the obstacles that were encountered while carrying out the research:
1. The uncooperative attitude of some “interviewees and other corporate officials who are in position to supply the researcher with relevant data and information.”
2. Delay in questionnaire completion by respondents.
1.9 Outline of Chapters
To meet the aforementioned aims, this research must be organised into five chapters, which include the following:
Chapter one: An introduction to the research endeavour, including the study’s aims, problem statement, and importance. Research topics and hypotheses are not exempt.
Chapter two will provide a literature study of what other authors and writers have written regarding the subject of this work. The materials to be studied include journals, magazines, reviews, abstracts, and other research topics.
Chapter Three: This section will outline the project’s research approach. It will cover the study population, sampling design, the nature and sources of data, questionnaire design, and data analysis methodologies.
Chapter Four: The obtained data will be presented, analysed, and interpreted using tables, percentages, and the Pearson Product Moment Correlation Coefficient statistical tool.
Chapter Five will summarise the project and present the findings. The recommendations, including the proposed remedy to the difficulties, will also be provided.
1.10 Definition of Terms
The following are the terms that will be frequently used during the research.
1. Entrepreneur: A person who combines resources, labour, materials, and other assets while also introducing changes, innovations, and new orders to achieve a profitable and fulfilling outcome.
2. Entrepreneurship: An individual’s willingness and capacity to search out investment opportunities, develop a business based on them, and run it successfully.
3. Entrepreneurship passion: The energy that comes from within is what allows an entrepreneur to realise his or her goals. It’s removing the mask and performing what comes naturally. It’s going with the flow of what draws you in, what energises you, and what brings you to life.
4. Creativity: It is the ability to develop something that is both novel (original, unexpected) and appropriate (helpful, adaptable to job limits).
5. Creative processes: Entrepreneurs research new techniques for producing goods and services. It entails establishing an entirely new method of accomplishing company tasks that will result in the intended goals and objectives.
6. Innovative processes: This is an improvement to an enterprise’s existing processes for producing goods and services.
1.11 Operationalizing the research topic.
The dependent variable for the study project “Impact of entrepreneurship passion on creative capabilities of stock operations” is entrepreneurship passion, whereas the independent variable is creative capabilities.
The dependent variable “entrepreneurship passion” is defined as the entrepreneur’s emotional attachment, dedication, and identity.
The independent variable “Creative capabilities” is operationalized as creative and inventive processes.
The above is stated mathematically as follows:
y = f(X), where Y represents entrepreneurship passion and X is creative ability. y = (Y1, Y2, Y3, Y4 ··· Yu)
Where Y1 represents the entrepreneur’s emotional attachment.
Y2 = the entrepreneur’s dedication.
Y3 = Entrepreneur’s Identification
X = (X1, X2, X3, X4, …, Xu).
Where X1 represents the creative process.
X2 equals innovative processes.
Thus,
YI equals f(XI, X2, X3, X4)
Y2 = f(XI, X2, X3, X4).
YJ equals f(XI, X2, X3, X4)
Y4 = f(XI, X2, X3, X4).
In short, the research project focuses on combining an entrepreneur’s emotional attachment, commitment, and identification with creative and inventive processes.
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