enterprenuer

INTRODUCTION TO ENTREPRENEURSHIP AND BUSINESS MANAGEMENT
MBA 643
COMPARISON OF THE INCENTIVE POLICIES IN NIGERIA AND ABROAD
An assignment by:
Olokoba Biodun Yusuf
ADP12/13/H/1869
Submitted to: Prof.(Mrs) E.D Adetayo
Department of Management and Accounting
Faculty of Administration
Obafemi Awolowo University Ile-Ife, Osun State.

COMPARISON OF THE INCENTIVE POLICIES IN NIGERIA AND ABROAD.

WHO ARE THE ENTREPRENEURS?
Entrepreneurs are usually characterized by their daring, risk-taking, animal spirits, and so forth. Economist Joseph Schumpeter, whose work highlighted the power of entrepreneurial forces, chose these words:
To act with confidence beyond the range of familiar beacons and to overcome that [social] resistance requires aptitudes that are present in only a small fraction of the population and that define the entrepreneurial type... (Schumpeter 1942).
Unfortunately, the design and implementation of public policy requires less literary, more prosaic criteria to identify entrepreneurs. A bit of introspection suggests that this is likely to be a difficult task. Some entrepreneurs never start out as small businessmen. It is easy to imagine— indeed many could even name— a highly entrepreneurial individual whose efforts were contained within a large corporation, directed toward not-for-profit activities, or otherwise expended far from the solo businessman/small business frontier. While clearly the first step is to identify an entrepreneur, the difficulty in doing so represents a major argument against trying to direct policy toward entrepreneurs.
An incentive policy is any system adopted to motivate the behaviour of people. When applied in a business context, it is the use of reward strategies by a company to motivate employees to do or not to do something that is usually of

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