INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCES & ENTREPRENEURSHIP
Vol. 4 No. 5 (IJMSE) MARCH, 2018
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STRATEGIC IMPLICATION OF ENTRENEURIAL VENTURE CREATION VIS-À-VIS ENTREPRENEURIAL MARKETING ON NIGERIAN ECONOMY: A CONCEPTUAL ANALYSIS
ONIGBINDE ISAAC OLADEPO, Ph.D.
Department of Business Administration & Marketing, College of Social & Management Sciences, McPherson University, Seriki-Sotayo, P.M.B. 2094, Abeokuta, Nigeria
his study investigated and discussed the strategic implication of entrepreneurial venture creation vis-à-vis entrepreneurial marketing on Nigerian Economy. The Main objective was to explore the general business and marketing strategies of small and medium enterprises (SMEs) in engendering entrepreneurship development in Nigeria. The utility maximization theory was adopted as an underpinning theory upon which this paper is anchored. The Nigerian economy is endowed with abundance of human resources with potentials on their entrepreneurial abilities, but it has been observed that these potentials are partially inhibited from being optimally utilized in productive sectors for the development of the country. In order to reserve these ugly trends, there is a need to perceive opportunity for profitable investment in SMEs and to explore the prospects of starting-up such productive ventures. The rationale for this paper therefore stems on the phases of the entrepreneurship development within the context of the Nigerian economy. The paper also examines various barriers to entrepreneurship development in Nigeria. The paper further evaluates the general business and marketing strategies for entrepreneurship development in Nigeria. The paper concludes that entrepreneurship will succeed more in Nigeria when the entrepreneurs therein appreciate salient business principles such as economies of scale, entrepreneurial marketing orientation and strong managerial efficiency. This ‘entrepreneurship development platform’ will form the basis for entrepreneurial nation which in turn will guarantee a brighter future for millions of unemployed youths across the country.
KEYWORDS: Entrepreneurial marketing, Entrepreneurship development, General business and marketing strategies, Nigerian economy, Small and medium enterprises (SMEs).
A REVIEW OF ESSENTIAL ELEMENTS OF FIRE SAFETY MANAGEMENT IN MALAYSIAN UNIVERSITY BUILDINGS
IBRAHIM YAKUBU EBENEHI1, 2, SULZAKIMIN HJ MOHAMED1, NORLIANA SARPIN1 AND ADEJOH AHMODU ADAJI1, 3
¹Department of Construction Management, Faculty of Technology Management and Business, Universiti Tun Hussein Onn Malaysia, 86400 Parit Raja, Batu Pahat, Malaysia 2Department of Building Technology, the Federal Polytechnic Bauchi, Gwallameji Village, Off Dass Road, Bauchi-Tafawa Balewa, 0231, Bauchi, Nigeria 3Department of Building Technology, Kogi State Polytechnic Lokoja, Lokoja, Nigeria
ubstantial investments are made in procuring buildings used in accommodating university activities. The buildings are regarded as a factor of production being the primary site for training future leaders, captains of industry, and entrepreneurs amongst others. Protecting buildings, the life of its users and academic activities from destruction, harm and unnecessary disruption are obligations that must be fulfilled by the university management and all relevant stakeholders. This paper seeks to examine the concept and essential elements of fire safety management (FSM) with focus on Malaysian public universities FSM experience. This study was carried out through a comprehensive review of relevant literature. The research reveals that the central intent of FSM is fire risk identification, prevention or reduction, control of fire, evacuation of building occupants as well as maintenance of safety systems. Management policies and procedure are prerequisites for the effective functioning of fire safety management strategies, and that System failure is largely responsible for fire incidents with high consequential losses including disruption to academic and business activities in the university.
KEYWORDS: Fire safety management, essential elements, university buildings, Malaysia.
ATTAINING SUSTAINAGLE GROWTH IN NIGERIA: ANY ROLE FOR SOLID MINERAL DEVELOPMENT?
RICHARDSON KOJO EDEME & DATEER DAYI DAMULAK
Department of Economics, University of Nigeria, Nsukka
Using time series such as GDP per capita, solid minerals output, foreign trade balance, domestic interest rate, inflation, and gross domestic savings, for the period 1960-2015. the Linear Growth Regression model adopted for this study indicates that solid minerals positively impact on sustainable growth and is statistically significant. The study also found that solid mineral is highly significant but negatively related with foreign exchange due largely to illegal migration of mineral commodities across the borders of the country. In view of this, there is need for conscious inter-agency collaboration to track the volume of mineral resources illegally escaping the shores of the country without being accounted for. Beside, there should be more attention on developing the solid mineral sector to help insulate the economy from the vagaries of the present economic woes given the rising demand in solid mineral resources globally.
KEYWORDS: Solid, Minerals, sustainable, growth, role.
THE MEDIATING EFFECT OF INTEREST AND ECXHAGNE RATE ON THE RELATIONSHIP BETWEEN BANK LOAN AND THE PROFITABILITY OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) IN NIGERIA
ANKPAN, E.O, YUSUF OVA MUTALIB AND TURDIMA SIYONA JOHN
Department of Accountancy, School of Business Studies, Federal Polytechnic Bauchi
he effect of loan on profit is a factor considered by investor when taking investment decisions. The loan may be affected by interest and exchange rate which brought about change in profit. This situation is more in a developing economy most especially the Nigeria Stock market. Evidence in literature has shown doubt as to relevance of such information needed for investment decision. Previous studies focused on the impact of credit availability (loan) on SMEs and completely underestimated the intervening effect of interest and exchange rate on the relationship. Therefore, this study was extended to incorporate interest and exchange rate so as to examine its mediating effect on the relationship between bank loan and profitability of SMEs listed in Nigeria. The study covers 6 SMEs listed for the period 2012 to 2016. The data of study were analyzed using Feasible Generalised Least Square (FGLS)). The findings from the analysis indicate that interest and exchange rate has significant mediating effect on the relationship between loan and profit. On the basis of these findings, it was concluded that loan is a determinant of profit in SMEs. This study recommends that due to the significant relationship between loan and profit, management and shareholders should work together to increase trading activities within the reach in order to improve the current status of their profit in the market.
KEYWORDS: loan, Profit, interest rate, exchange rate, SMEs,
CHALLENGES OF SUCCESSION PLANNING AND BUSINESS CONTINUITY IN NIGERIAN ORGANIZATION
*MARYAM TIJJANI ABBAH ** MANJI WAPSHAK KUMDI
*Department of Marketing, Federal Polytechnic Bauchi, PMB 0231, Bauchi-Nigeria **Department of Business Administration and Management, Plateau State Polytechnic, Barkin Ladi.
rganizational survival has been argued to be a primary goal or objective every organization should have. However, corporate succession planning has attracted considerable interest among management and social science researchers. Most of the research has been conducted in the developed countries and organizations from specific vantage points such as understanding the impact of CEO succession or successor. On balance, there is little research on leadership succession planning in most less developed countries, especially Nigeria. Succession planning is a critical tool for ensuring lasting organizational improvement. However, the biggest challenge for most organizations show to effect a well-designed change of leadership without disrupting the organizational continuity. This paper asserts that most organizations in Nigeria will be heading for leadership transition crisis unless effective succession planning is urgently integrated into organizational culture. In a style of a qualitative research, the paper examines what succession planning, the benefits of succession planning and the challenges associated with its implementations. The paper also reviews the strategies for developing and implementing leadership succession plans. Again, an investigation was carried out on leadership succession in Nigeria in both public and private sector organizations. The research reveals that most Nigerian organizations are not engaged in leadership succession planning and implementation. It is also apparent from research findings that for those that tried, the success rate is negligible. The research also revealed other issues such as culture and political complications that are entrenched in most Nigerian organizations, especially those in the public sector. These entrenched issues need to be understood and dealt with to ensure organizational renewal, business continuity and economic growth.
KEYWORDS: Business Continuity, Leadership, Organizational Culture, Succession Planning.
NIGERIA’S SUSTAINABLE DEVELOPMENT: REFLECTIONS ON AGING, EMPLOYMENT AND SOCIAL SECURITY.
AKHERE ABHULIMEN ANGUS1 OLEABHIELE ERNEST PAUL2 IGIBA GREGORY3
1Academic Registry, Federal Polytechnic, Bauchi 2Department of General Studies, Federal Polytechnic, Bauchi 3Department of Business Studies, Federal Polytechnic, Bauchi.
he paper examines the changing parameter of the world’s economic development as it relate to social security, aging and unemployment in Nigeria. This is important because, the problem of aging, employment and social security in Nigeria is peculiar to the lack of states provision of eldercare which requires the family to provide the needs for the survival of older people. The research problem indicated that; government no longer care for older people, children now played the most important role of providing economic security to old age by all means necessary which in turn expose them to all sort of social vises, strong social security policies are not viable to take care of the retirees after retirement. The objective of the study is to examine and identify the problem associated with older people in Nigeria and also to provide alternative entrepreneurship skill as viable option for retirees in Nigeria, to also explore other means of managing the old age through global interpretation of aging, this is because of the expansion of the world economy as Nigeria government and the political leaders believe that provision of social care to old age is the responsibility of the family. Literature was reviewed from relevant journals, magazines, and newspaper. Our reflections indicated that there is a huge failure of pension and insurance scheme to be able to manage and maintain stability and social confidence on eyes of people as aging has been privatized. In conclusion, therefore, it is important to bear in mind that the vast majority of older people in Nigeria are unemployed and lack social security services, therefore, their fate rely on the hands of their families. This research is a contemporary social problem that needs urgent investigation and analysis by researchers and academician to be able to know the strength of which the problem is going through for possible action.
KEYWORDS: Aging, Social Security, Unemployment and Poverty in Nigeria.
AN ANALYSIS OF THE ROLE OF THE GOVERNOR OF CENTRAL BANK IN EXPANDING THE MEANING OF BANKING BUSINESS UNDER SECTION 66 OF BOFI
*PEACE JOHN SHEKARA, **NANRIBET FWANGVIL FOTSHAK, ***UMAR IBRAHIM WUNTI ****TANCIT DANJUMA,
*Estate Managing Department Federal Polytechnic Bauchi **Federal College Of Education Panshin, ***Department Of General Studies Federal Polytechnic Bauchi, ****Heritage Chambers Attorneys At Law Bauchi.
his paper examined the powers of the Central Bank Governor under section 66 of BOFI to expand what constitute banking business. The paper also highlighted the brief history of the Central Bank of Nigeria and made a list of the governors of the bank from inception till date. Particularly, the paper limited itself to the regime of Professor Charles Chukuma Soludo and Sanusi Lamido Sanusi. It was discovered that Charles Soludo introduced the universal banking model system and bank recapitalization by reducing the number of banks in Nigeria from 86 to 25 banks who were amerged , acquired or meet up the Minimum paid share capital if 25 billion. During this period, banks were allowed to go into other businesses apart from banking. The paper further looked at the regime of Sanusi Lamido Sanusi who created three types of banks to operate at regional, national and the international level namely, merchant Banks, Commercial banks and specialized banks. The paper concluded that the governors whose regimes are under study properly exercised their powers because of the challenges that befall the banking sector at that time. The paper recommended that only people with expertise in banking of economics be appointed to head the apex bank to enable properly exercise the power of the expansion of banking business as contemplated by section 66 of BOFI.
KEYWORDS: Central Bank, Business, Banking, Expanding, Analysis.
ENTREPRENEURIAL ORIENTATION AND ENTREPRENEURIAL INTENTION OF FINAL YEAR STUDENTS OF THE FEDERAL POLYTECHNIC, BAUCHI
*ADELAIYE M. B. O. **ADUBASIM, ERNEST IKECHUKWU ***ADIM, CHIDIEBERE VICTOR
Department of Business Administration and Management, School Of Business Studies, the Federal Polytechnic, Bauchi **Department of Management Information Technology, Faculty of Management Sciences, Abubakar Tafawa Balewa University, Bauchi, Nigeria. ***Department of Management, Faculty of Management Sciences, Rivers State University, Nkpolu-Oroworukwo, PMB 5080, Port Harcourt, Nigeria.
his study focused on entrepreneurial orientation and entrepreneurial intention of final year students of the federal polytechnic, Bauchi. The study used a cross sectional design involving final year students of the school of management studies. A sample size of was adopted through the Krejcie and Morgan table and the simple random technique was used. After data cleaning, only data of respondents were finally used for data analysis. Descriptive statistics and Spearman’s rank correlation were used for data analysis and hypothesis testing. Empirical results confirm that there is a positive significant relationship between entrepreneurial orientation on entrepreneurial intention and the adopted dimensions of EO which was innovativeness, pro-activeness and risk taking showed significant relationship. The study concluded that entrepreneurial orientation has a strong bearing on the intension of would be entrepreneurs. The study recommended that the authority of the Federal Polytechnic, Bauchi should come up with more programmes that would enhance the innovativeness of their students. This can be in the form of exchange programmes with both local and international institutions as this would foster linkages and enhance innovativeness. Students would most likely learn better in a new and different environment.
KEYWORDS: Entrepreneurial Orientation, Entrepreneurial Intension, Innovativeness, Risk Taking, Pro-activeness.
IMPACT OF INTRINSIC AND EXTRINSIC MOTIVATION ON EMPLOYEES PERFORMANCE IN HIGHER INSTITUTIONS IN NIGER STATE
ELIZABETH MAIMUNA YISA, ISAH NDA ISAH & MUSA USMAN
Department of Business and Management Studies, Niger State Polytechnic, Zungeru
otivation has been empirically confirmed to be a major driver of employee performance. The aim of this research is to investigate the impact of intrinsic and extrinsic motivation on employees performance in higher institutions in Niger state. A survey questionnaire was used to collect data from a section of academic staffs of the various higher institutions in Niger state. A random sampling technique was adopted in distributing the questionnaire to 200 respondents out of which 150 were used for the study. SPSS program was used to analyze the data generated from questionnaires. The regression result showed that Intrinsic and extrinsic motivation are so important for management as both have positive impact on employees performance. Based on this findings, the study recommended that employers sense of commitment to put in place appropriate incentive plans that will encourage employees to be more purposeful and improve their performance.
KEYWORDS: Intrinsic reward, extrinsic reward, motivation, employees performance.
AN ASSESSMENT OF THE FACTORS AFFECTING ELECTRONIC TAX ADMINISTRATION ACCEPTABILITY IN NIGERIA
FATIMA BELLO AND IBRAHIM ABDULAZEEZ
Department of Accountancy, Federal Polytechnic, Bauchi.
his paper examines the critical factors that impair the acceptability of Electronic tax administration in Nigeria. With the recent economic recession experienced by Nigerians in which many families are unable to afford the basic necessities of lives as a result of declined in oil revenue, the Nigeria government has now geared a policy towards diversifying the economy in order to generate more revenue from the non-oil sources. And this, remain the cardinal objective for the general acceptance of electronic tax system in Nigeria. However, the study being a theoretical work used secondary sources of data collection method with the published and unpublished works of scholars in the field of social sciences. The findings reviewed that major factor affecting the use of Electronic tax system is the perceived ease of use by the tax payers, and, if embraced it shall lead to increase in the level of tax compliance. It was further recommended among others that the relevant tax authorities should conduct an elaborate civic education to ensure that the general public is aware of the benefits of electronic tax administration in Nigeria.
KEYWORDS: Tax, Taxation, Automated Payment, Integrated Tax and Acceptability
ENTREPRENEURSHIP SKILLS DEVELOPMENT AS A MAJOR SOURCE OF ECONOMIC EMPOWERMENT IN NIGERIA
USMAN ADAMU IBRAHIM
Department of Basic Studies, Federal Polytechnic, Bauchi.
The researcher in this paper tries to look at entrepreneurship skills development as major sources of economic empowerment in Nigeria. It carefully examines the challenges limiting the success of entrepreneurship skills development in the country probably the Sub-Sahara Africa at large. Entrepreneurship skills development does not start and end with creating the enabling environment to enhance economic activities only. It calls for ‘mass action’ requiring an individual focus towards the discovering and acquisition of entrepreneurial traits, harnessing such revelations to confront and overcome the hostile forces of nature. It is a matter of the individual develop ping the will-power to survive, consciously working to be fire from strangulating forces. The researcher therefore, recommended that entrepreneurship skills development schemes should be included into curriculum of the educational system from primary to university levels, making credit facilities easily accessible to entrepreneurship protecting indigenous entrepreneurs and improving infrastructural facilities among others.
KEYWORDS: Entrepreneurship, Entrepreneurs, Skill development, major sources, Economic Empowerment.
FINANCIAL STATEMENTS ANALYSIS AS A TOOL FOR RATIONAL BUSINESS DECISSIONS
FARUNA SIMON FARUNA
First Bank of Nigeria Plc.
This paper is centered on the financial statements analysis as means of examining financial health of a business. Analysis of financial statements is an important part of accounting process which provides more meaningful information to enable the owners, investors, creditors or other interest parties to evaluate the operational efficiency of the firm during a particular period. When financial statements are subjected to detailed analysis using different tools, more useful information is obtained to make purposeful decisions about the profitability and financial soundness of the concern. It is required of business owners and operators to employ financial ratio analysis in order to be able to understand the performance and prosperity of their businesses.
KEYWORDS: Financial Statements, Analysis, information, Decision
THE IMPACT OF TRADE OPENNESS ON NIGERIAN ECONOMIC GROWTH 1981-2016
*DR. KABIR MUSA ALHAJI **USMAN IBRAHIM ZWAL
*Department of Economics, Umar Musa Yar’adua State University Katsina, Katsina State Nigeria **Department of Banking and FinanceFederal Polytechnic, Bauchi, Bauchi State Nigeria
his study examined the impact of trade openness on output growth in Nigeria within the sampled period of 1981-2015. The data for this research work was obtained from the CBN Statistical Bulletin (1981 – 2015) and analysed using ordinary least square (OLS) analysis. Gross domestic product was regressed against economic openness, inflation rate, and exchange rate (EOP, INF and EXR). The result revealed that trade openness captured by economic openness, inflation rate, and exchange rate (EOP, INF and EXR) had significant influence on the country’s economic growth. Cointegration test revealed that the entire variables have long run relationship with economic growth of Nigeria within the sample period with at least four co-integrating equation. The unit root test indicates that the entire variables were stationary at first differencing. The VECM result indicates that the dependent variable has the capacity to adjust to short-term fluctuation from long term equilibrium. Based on this finding the research recommends among others; that Conscious efforts should be made by government to harmonise the various macroeconomic variables in order to provide an enabling environment to stimulate foreign trade by putting up policies and measures which encourage exportation and in effect ensure that excessive importation is curtailed since it has a negative effect on the economy.
KEYWORDS: Impact Trade Openness Nigeria Economic Growth.