Value Relevance Of Accounting Information And Share Prices Of Listed Consumer Goods Firms In Nigeria

Basic Concept and Meaning of Entrepreneurship, Entrepreneurial Traits and Characteristics

A Definition of Entrepreneurship and the Entrepreneur

The issue of graduate unemployment has tasked the ingenuity of many university teachers and administrators. Many graduates remain unemployed and sometimes unemployable.

In recent times however, the government has come to recognize the importance of entrepreneurship in economic development: that industrial and economic development is fostered not by few large-scale industries, but by numerous entrepreneurial ventures or rural small-scale enterprises, which have the capacity to provide employment and aid growth in an unprecedented manner.

Industrialized nations like the US and Japan owe their development to the activities of fast growing small-scale enterprises rather than the few large-scale companies that operates in their economics.

The Conceptual Model of Entrepreneurship Development, Education and Failure

Characteristics of entrepreneurship

A Review and comparison of Entrepreneurship Development in Nigeria with Japan, South Africa, Malaysia, India and Dubai.

Introduction

Nigeria is naturally endowed with entrepreneurship opportunities; however the realization of the full potential of these opportunities has been dampened by the adaptation of inappropriate industrialization policies at different times. Several policy interventions that were aimed at stimulating entrepreneurship development via small and medium scale enterprises promotion, based on technology transfer strategy, have failed to achieve the desired goals as it led to the most indigenous entrepreneurs becoming distribution agents of imported products as opposed to building in-country entrepreneurial capacity for manufacturing, mechanized agriculture and experts services.

One of the goals of economic development strategies pursued by many countries of the world has been improvement in the standard of living through job creation. Entrepreneurship development is no doubt a vital tool in fostering job creation. Entrepreneurs orchestrate transformations and create new channels for economic activity and employment. Petrin (1994) emphasized that for countries to accelerate economic development in their rural areas, it is necessary to build up the critical mass of first generation entrepreneurs. Thus, all countries that wish to pursue continued development must encourage entrepreneurship.

History of Entrepreneurship in Nigeria

Brief description of Independent and Mutual-exclusive projects

Independent project

An independent project is one where the decision to accept or reject the project has no effect on any other projects being considered by the company. For example the decision to replace a company's computer system would be considered independent of a decision to build a new factory. 

Mutually-exclusive Projects

A mutually-exclusive project is one where acceptance of such a project will have an effect on the acceptance of another project. In mutually exclusive projects, the cash flows of one project can have an impact on the cash flows of another. Starbucks decision to buy Teavana will most certainly have a profound effect on the future cash flows of the coffee business as well as influence the decision making process of other future projects undertaken by Starbucks.