Posted on

Entrepreneurship And Society Business Essay

The socio-economic development of any given society is greatly enhanced by the positive development of enterprisers in that society. History has made it clear that different coevalss of different communities have different sets of social challenges. Solutions to these challenges are now used as benchmarks in specifying the rate of development of that coevals in that society. These challenges, which may be natural and manmade, did non be in themselves neither did they stop in themselves, but by design they revolutionized the expertness of the people of that coevals i?? in developing solutions and in making value.

It is this survey of history that fuelled the apprehension that a challenge will go on to be portion of a given society until a solution is developed. In kernel, a better analysis of the general construct of growing in any society is non so much in the province of her challenges ( democracy, power, economic sciences or constructions ) but in the tantamount rate of development and execution of solutions to her challenges. From the great depression of the 1920s, the universe wars, the demand for information interchange in the 1950s, terrorist act in 2000s and the present twenty-four hours environmental issues, market crisis etc.

Not merely is this beauty of history recorded in challenges but besides in the dynamism of these challenges. Twenty four hours will ever do a twenty-four hours but the society we are portion of is dynamic i?? everything will go on to alter. Peoplei??s demands will turn, their desires will alter, their mentality, rules, beliefs, their relationships, even their pursuit for understanding will ne’er be the same.

It is this dynamic nature of adult male that consequences in the dynamic nature of his society. That is why the hunt for solutions will ne’er be finite. For illustration the demand for mobility gave birth to car Mobiles, when velocity in mobility became evident, aeroplanes were built. The demand for information direction gave birth to computing machines and when this demand metamorphosed to information interchange, webs and the cyberspace were developed. Since this hunt for solution will ne’er be finite, the demand for solution suppliers can ne’er be thorough. The fact behind this survey is the apprehension that ; inherent in the survey of social challenge and supplying solution is the theory of how value is created within that society.

Every coevals has produced its ain alone sets of enterprisers. They all have had divergencies in pursuit, methodological analysis, construct and even in the merchandises they offered. Despite these differences at that place exists a common yarn that runs through all of them i?? the pursuit for relevancy. The definition of this pursuit has ever centered on making value, supplying solutions that people merrily pay for. The basic difference between the natural solutions supplier and the enterpriser is that while the former specializes in merely developing solutions, the enterpriser non merely develops solutions but knows how to do people pay for the solutions he developed.

This pursuit for relevancy governs the head of the mean entrepreneur irrespective of the size of his concern. This pursuit is what led Bill Gates to develop a version of the scheduling linguistic communication BASIC for the first micro computing machine i?? the MITS Altair, a simple act that changed the manner society managed information. An act that subsequently replaced the filling cabinet. It is this same pursuit that led board president of Ford Motors, William Clay Ford Jr. i?? great grandson of laminitis Henry Ford i?? in May 2000 to profess for the first clip that sport public-service corporation vehicles ( SUVs ) emit more pollution than autos and can be unsafe to others on the route. He pledged to do these SUVs, which accounted for 20 per centum of the companyi??s gross revenues and most of its net income, cleaner and safer. This construct which is now adopted by car makers worldwide is altering the manner autos are designed.

It is this pursuit that makes us to look beyond the dictionary definition of entrepreneurship. Entrepreneurs are much more than hazard takers, they are value Godheads who people pay to supply solutions to their demands, they are trouble shooters who know how to do money from the issues they resolve, and every coevals known to adult male hold had their ain set of enterprisers. Thus it is non incorrect to presume that for every generational challenge a generational enterpriser is born. That is why a direct relationship exists between the development of enterprisers and the growing of a society.

In the late 1990s the communicating system in Nigeria, so managed by the Nigerian Telecommunication Ltd ( NITEL ) , had legion challenges. The web was expensive ; the service charge was hideous, merely a few households and corporate organisations had land lines. Care of these installations was a large job, even pull offing NITEL was an issue. Peoples complained but the authorities said they were acquiring the best and the cheapest service. Finally the authorities deregulated the telecommunication sector. In early 2000, telecommunication service suppliers ( TSP ) started coming to Nigeria. MTN i?? a foreign TSP i?? controlled the Nigerian market for a really long clip. Their nomadic lines helped cut down the telecommunication challenges but the issue of high duty still kept the Nigerian market at bay. Two Nigerian owned TSP i?? ECONET ( now ZAIN ) and GLOBACOM ( now GLO ) i?? entered the market ; but they couldni??t stand the competition which has MTN as a key participant, for illustration 8 out of 10 web users still use the MTN web.

During the same period, all the TSPs used the i??per minute charge system ( PMB ) i?? which is comparatively high for the common user. Customers for i??per 2nd charge system ( PSB ) i?? but the TSPs said impossible. Entrepreneur extraordinaire, Mike Adenuga, CEO of GLO restructured the whole system by developing what the people wanted. He gave endorsers the options to take between PMB and PSB. This opened the market to even the common individual. As a consequence Nigerians developed trueness to GLO and to Adenuga. Later Adenuga said that his motive in concern was non to go the richest adult male in Nigeria but to add value to the life of Nigerians. Just like when he set up Equitorial Trust Bank he said, i??We went into banking because it is a accelerator for economic growth.i??

The beauty of this is, as the concern prospered the impact the concern created increased. His solution became a seeable agencies of support for himself and his employees. More occupations were created, concerns that have related merchandises or offered services in this line had more chances. Adenuga even confessed that at a point he non merely became responsible but besides accountable to the society that gave him the chance and made him win.

These series of enterprisers have all had their portion of successes and failures, their high and low points. Persons who would hold become utile as a consequence choose instead to sit on the fencing of inaction. They conclude that it is better to avoid the issue than to confront the challenges. For illustration when Mike Adenuga foremost won a GSM licence and established Communication Investment Limited ( CSL ) , the licence was revoked under controversial fortunes by the National Communication Commission ( NCC ) in Nigeria. Still determined Adenuga went on to put up GLOBACOM ( GLO ) , which today is one of Nigeriai??s successful telecommunications companies.

There is no endeavour known to adult male that does non pull some degree of reverses. One must besides gain that going an enterpriser means one has to be prepared to pull off and decide the challenges that will come with it. Careful analogy shows that the general causes of concern failure i?? the personality of the enterpriser, the clients, competition, authorities policies and natural factors i?? will go on to dispute the really being of your concern. For illustration the ICT revolution has made competition to be fiercer than of all time, clients now have options at their finger tips such that for your concern to last it must be on your customeri??s finger.

With peculiar regard to Nigeria, we will briefly expression at some of the prevalent challenges that act as reverses to the development of entrepreneurship in our state.

A major reverse in the development of enterprisers in Nigeria is the unstable province of the political environment which straight impacts negatively on the economic policies. For illustration once the authorities encouraged the importing of nutrient points. Persons and concerted societies went into the importing of rice. Then one forenoon during the political periods, a prohibition was placed on the importing of rice i?? merely a selected few were given the licence to import rice. This came after many had invested so much in the concern. Another issue is the proviso of back uping substructure that could assist the concern thrive e.g. roads, electricity, rent etc. It is recorded that one of the chief points in the societal substructure docket is power supply. So much is now spent on proviso of Diesel and bring forthing sets. It seems the more attempt is channeled in this way, the less the result. Besides many enterprisers have complained that after developing their merchandises, they face the hard issue of low backing. The consumers, the society which they develop the product/service for instead prefer foreign made points alternatively of the locally manufactured 1s. Many more exist, but while these challenges froze some concerns it may hold spurred others. It may besides hold given some extraordinary enterprisers chance to be more originative.

Troubles encountered by enterprisers in the pursuit for solutions abound, but challenges are non meant to be seen, they are at that place to be solved, they are existent chances in camouflage and the mean enterpriser knows that the more jobs you solve, the more relevant you become and the more money you make. So beyond the quest of net income devising, the benefits of developing the entrepreneurial mentality is tremendous and how best to develop this mentality is to see every challenge as an chance to go relevant, to lend to the development of the society. For illustration when some immature Nigerians discovered that electricity was going a major job in Nigeria, they started constructing solar panels and today their concern i?? Power Green Technology Limited i?? is spread outing. When made-in-Nigeria fabrics were non deriving the needed backing, some immature makers added exceeding coating to their fabric design. Today it is known nationally as the Ankara stuff. It is so recognized that most noteworthy adult females in Nigeria use it for official and formal events. ( Mrs. Dora Akunyili-Minister of Information, Mrs. Cecilia Ibru-Oceanic Bank, Mrs. Okonjo Iweala-World Bank ) .

In recent yesteryear, several enterprises by private, public and international organisations have been undertaken to change by reversal the negative tendency associated with societal irresponsibleness, nevertheless, most of these enterprises did non acquire the coveted consequences because they failed to acknowledge and streamline the position of the most of import mark group in any society i?? the young person. Youth population represents the hereafter of every society and therefore should be the accelerator guidance and informing the class of alteration and societal retransformation. As declared in chapter 25 of Agenda 21, adopted at the 1992 United Nations Conference on Environmental and Development ; i??it is imperative that young person from all parts of the universe participate actively in all relevant degrees of decision-making procedure because it affects their lives today and has deductions for their hereafter. In add-on to their rational part and their ability to mobilise support, they bring alone position that need to be taken into account.i??

Therefore to truly tackle the relationship between the development of entrepreneurship and society, young persons must be progressively informed and integrated in whatever scheme that will be deployed. Youth development can function as the dominant agencies of community engagement, active citizenship, liberty and independency. Finding agencies, political will and the know how to make a billion occupations over the following 10 old ages that non merely delivers economic benefits to immature people, but besides maintain ( and even construct ) the environmental and societal wealth, is possibly one of the most of import marks of societal entrepreneurship.

Second, in August 2004, the International Labour Organization ( ILO ) as portion of its committedness to youth employment released a net planetary study on youth unemployment. The study found the young person unemployment is at an all clip high and HALF the worldi??s jobless are between 15 and 24 old ages of age. This represents 88 million immature people without work in 2003. Soon, the universe is blowing an of import portion of the energy and endowment of the most educated young person coevals the universe has of all time had. Enlarging the opportunities of immature people to transform themselves from occupation searchers to occupation shapers or enterprisers is perfectly critical to accomplishing success in any society. Furthermore, furthering entrepreneurship is critical in every portion of the universe and should be considered a cardinal mechanism for development. Supporting immature enterprisers in the underdeveloped universe with ;

1. Education

2. Financing

3. Mentorship

4. Opportunities

5. Favorable Policies

6. Encouraging Structures and

7. Networking Platforms

Is a critical tract to bridging the development divide and furthering the creative activity of sustainable supports. For illustration oftentimes immature people lack sufficient concern direction accomplishments and start-up capital. Micro-Finance Institutions ( MFIs ) and preparation schools, particularly in rural countries and urban hapless colonies, are indispensable for making concern supports and chances. Youth webs provide a forum for exchange of thoughts about common jobs and issues confronting young person. They besides help immature people learn what others are making elsewhere and to see in what manner such undertakings can be implemented elsewhere. Share research and resources, every bit good as build political will towards making more chances for immature enterprisers.

Young people are effectual leaders of societal enterprisers. Each community should in audience with its young persons set up a procedure to advance duologue between the youth community and the authorities at all degrees, particularly to place pressing societal demands that immature people can be involved in turn toing. Governments, concern and NGO can work with immature people to place demands in the community and design and implement instruction and endeavor development enterprises to see these demands addressed.

For illustration for 20 old ages Nigeria continue to wake up to the challenge of the Niger Delta, the hawkish issue. Different disposal of the Nigerian Government resort to assorted options as solution. Some where killed as in the instance of Ken Saro Wiwa in Ogoni Rivers State, while some witnessed straight-out military action as was the instance in Odi, Bayelsa State. Soon, as a better response to this societal job the authorities resolved to dialogue with the activists, and some agreements was made, amongst them was amnesty and the authorization of the activists the authorities. Quantum Entrepreneurial Development Foundation so proposed to the Nigerian Government and some transnational companies in the country that alternatively of merely giving money to these immature work forces, why non:

1. Train them on a peculiar accomplishment or trade

2. Train them on the concern of pull offing the skill/trade so that they will see their accomplishment as a solution that people will really pay for.

3. Start-up support fund in footings of loans managed by MicroFinance Bank. The thought of presenting the Bank is to be able to supervise and retrieve the loan for other participants.

Today this construct is deriving impulse and the consequence is promoting. Not merely are these immature work forces engaged, they are now productive and supportive to the development of their society.

To guarantee immature people are able to lend efficaciously to societal betterment through societal endeavors, learning on local societal issues and other ways of lending to work outing them should be included in school course of study up to the university degree. Training should besides be provided to youth interested in originating community based undertakings in these countries. For illustration the Rivers State Ministry of Education in coaction with some young person powered NGOs established the Young Farmers School Club in some secondary school as a platform for immature pupils in schools to be actively involved in the development of agro-based concerns, encourage sustainable battle in farming activities.

Young people are the accelerator for alteration in any county. To efficaciously appreciate the kernel of entrepreneurship in the development of a society, the engagement of young persons in developing private endeavors is an absolute necessity.

Etuk Anietie

Undertaking Development Officer

Quantum Entrepreneurial Development Foundation

20 Rumuola Road, Port Harcourt, Rivers State, Nigeria, Africa


etukanietie @

Leave a Reply

Your email address will not be published.