THE NEED FOR ENTREPRENEURSHIP
ENTREPRENEURSHIP: THE NEED TO BE ENTERPRISING.
BY
DIMKA ZUMGAK YAKUBU
GIRLS’ HIGH SCHOOL, GINDIRI.
A PAPER PRESENTED AT THE SEND-OFF OF NCE III STUDENTS, ECONOMICS DEPARTMENT, COLLEGE OF EDUCATION, GINDIRI. ON 8TH AUGUST, 2012.
INTRODUCTION. The fact that consumers of goods and services, business magnets, students, teachers, opinion leadership, government officials, and a host of others are interested in entrepreneurship is an indication of the vitality of this subject matter. It has become the issue of discussion and interest day-by-day in this country. It is apparent to pause a while and to ask: ‘who is the focus of this attraction’ and why? This will help us understand the issue of entrepreneurship better.
AN ENTREPRENEUR. The entrepreneur is someone who is willing to accept all the risks and effort involved in the creation and maintenance of new enterprise or in the revitalization of an existing enterprise (Dakung, 2009). Such a person may be a man or a woman from whichever tribe, race, colour or religion, from any social class background or profession. Such an individual may possess higher degree , ordinary level certificate or even a school drop-out. The person maybe a nurse, student, housewife, engineer, carpenter, manager or a retiree.
THE ENTREPRENEURIAL CONCEPT. Entrepreneurship means the act of being an entrepreneur. It is as old as civilization. Many famous economist like David Ricardo and Adam Smith emphasized not much of the role played by entrepreneurship in the society. Richard Cantillon equated entrepreneurship with a capitalist, but it was Joseph Schumpeter who recognized entrepreneurship as the way out to bring about a dynamic change in the economy. The only difference between an entrepreneur and entrepreneurship is that entrepreneur conceptually is a person whereas entrepreneurship is a process. In a way, we can say entrepreneur precedes entrepreneurship. The concept of entrepreneurship is adequately understood when principles
BY
DIMKA ZUMGAK YAKUBU
GIRLS’ HIGH SCHOOL, GINDIRI.
A PAPER PRESENTED AT THE SEND-OFF OF NCE III STUDENTS, ECONOMICS DEPARTMENT, COLLEGE OF EDUCATION, GINDIRI. ON 8TH AUGUST, 2012.
INTRODUCTION. The fact that consumers of goods and services, business magnets, students, teachers, opinion leadership, government officials, and a host of others are interested in entrepreneurship is an indication of the vitality of this subject matter. It has become the issue of discussion and interest day-by-day in this country. It is apparent to pause a while and to ask: ‘who is the focus of this attraction’ and why? This will help us understand the issue of entrepreneurship better.
AN ENTREPRENEUR. The entrepreneur is someone who is willing to accept all the risks and effort involved in the creation and maintenance of new enterprise or in the revitalization of an existing enterprise (Dakung, 2009). Such a person may be a man or a woman from whichever tribe, race, colour or religion, from any social class background or profession. Such an individual may possess higher degree , ordinary level certificate or even a school drop-out. The person maybe a nurse, student, housewife, engineer, carpenter, manager or a retiree.
THE ENTREPRENEURIAL CONCEPT. Entrepreneurship means the act of being an entrepreneur. It is as old as civilization. Many famous economist like David Ricardo and Adam Smith emphasized not much of the role played by entrepreneurship in the society. Richard Cantillon equated entrepreneurship with a capitalist, but it was Joseph Schumpeter who recognized entrepreneurship as the way out to bring about a dynamic change in the economy. The only difference between an entrepreneur and entrepreneurship is that entrepreneur conceptually is a person whereas entrepreneurship is a process. In a way, we can say entrepreneur precedes entrepreneurship. The concept of entrepreneurship is adequately understood when principles
References: Dakung, R.J, et al (2009). “Entrepreneurial Skill Development”: A practical approach. Eriba Publishing Company, Tafawa Balewa Street, Jos. Onuoha, G (2007). “Entrepreneurship” AIST International journal 10:20-32. Ronstadt, R.C (1984). Entrepreneurship; Dover, Lord Publishing Company. Schumpeter, J (1950). Capitalism, Socialism, and Democracy, 3rd edition, Harper and Row, New York, 1950.