CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Entrepreneurship Management School
According to the management school, an entrepreneur is a person who organizes or manages a business venture, taking on risk in the pursuit of profit (Webster, 1966). Entrepreneurship, according to this viewpoint, can be created through intentional learning. In most situations, bad management practices are to blame for failure in entrepreneurial endeavors. As a result, it is asserted that management training can significantly reduce company failure and assist an enterprise succeed.
Entrepreneurship Leadership School;
An entrepreneur, according to the leadership school of entrepreneurship, is someone who relies on others to assist him reach his goals and objectives. A successful entrepreneur, according to this school, must be a’people manager,’ an effective leader, and a mentor who encourages, directs, and leads others to do certain duties.
According to Kao (1989), an entrepreneur must be a visionary, capable of defining a vision of what is feasible and attracting people to rally around that vision and help it become a reality. The two main components of this strategy are completing the task and responding to the needs of persons involved in the task completion.
Model Based on Personality
Character-based models include both personality and human capital models. According to a personality-based model, entrepreneurs have particular characteristics, and these characteristics are expected to have a significant impact on company planning and strategy selection during the launch phase, which will decide the entrepreneur’s ultimate success in the venture.
Particularly psychological, but also economic, research has looked into which personality traits are essential for entrepreneurship success. The following characteristics have been identified as being useful in explaining previous success and forecasting future growth of a newly established business: ‘Desire for achievement,’ ‘internal locus of control,’ and ‘need for autonomy’ are motivational attributes, while ‘problem-solving’ is a cognitive skill.
STATEMENT OF PROBLEM
The growing importance of entrepreneurship as a source of employment and economic growth
Entrepreneurial enterprises must be able to grow, generate a profit, and contribute to the economic development of their country.
Entrepreneurship is defined as the ability and willingness to create, organize, and manage a business venture, as well as any associated risks, in order to profit. Starting a new firm is the most obvious example of entrepreneurship. Entrepreneurship, when paired with land, labor, natural resources, and capital, can yield profit in economics. Entrepreneurial spirit is defined by risk-taking and invention, and it is a critical component of a country’s ability to compete in an ever-changing and increasingly competitive global marketplace.
OBJECTIVES OF THE STUDY
The study will provide success criteria for entrepreneurship businesses as well as important information for new and existing businesses.
Businesses run by entrepreneurs.
RESEARCH QUESTIONS
1 What is the nature of business entrepreneurship?
1 What are the success requirements for starting a firm as an entrepreneur?
2 What is the nature of Juli supermarket Lagos and what are its success criteria?
RESEARCH HYPOTHESIS
1 Host Juli supermarket has a poor track record.
H1 Juli supermarket had a strong performance.
2 The iinjuli supermarket’s success criteria are modest.
Hello there, success criteria The price of iinjuli supermarket is really high.
3 In Juli supermarket, the impact of the success criteria is minimal.
In Juli supermarket, the success factors have a significant impact.
SIGNIFICANCE OF THE STUDY
The study will provide entrepreneurial success criteria as well as important information for new and existing entrepreneurship enterprises.
SCOPE OF THE STUDY
The research focuses on evaluating success criteria for entrepreneurship in Nigeria.
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