Entrepreneurship Development and Job Creation
You will have a good understanding of the business ecosystem and a knowledge of successful business models. Altucher focuses on helping you improve your physical, emotional, mental and spiritual wellbeing while finding your way towards uncovering potential business opportunities you will be uniquely qualified to pursue. Regulations around starting and sustaining businesses can often be seen as too slow, complicated, or confusing. Entrepreneurship and small business are typically used synonymously, interchangeably and presented as one and the same. As with a good comedian, if you want to be an effective persuader, you need to master your timing perfectly. The Barefoot Executive walks new business owners through the steps of planning, starting and operating a small business.
New markets add wealth to the economy when entrepreneurs invest their own money to develop innovative products and services. In the absence of local entrepreneurs for a society, enterprises are organized by the entrepreneurs coming from outside. Because of their importance in the modern economy, entrepreneurs should be at the heart of microeconomics. Within the last decade more and more entrepreneurs are focusing their work on resolving social problems. During the last decade, Gallup has focused intently on understanding the psychological roots of entrepreneurship. Entrepreneurs in the public and private sectors help to remove regional disparities in economic development.
Entrepreneurs need assistance in creating solid business plans and with accessing and developing managerial talent. For the potential entrepreneur the first task is to identify, explore and then select an attractive business opportunity. The entrepreneur may adopt an innovation developed by others, re-invent or modify it, or develop an innovation not known earlier, to suit his/her own particular purpose. The historical and contemporary records reveal long and robust history of family-owned business in Nigeria. Having set long-term aims of the business, there is a need to communicate them to the stakeholders. The Merriam Webster Dictionary defines an entrepreneur as one who organizes, manages and assumes the risk of a business or enterprise.
An improving gross domestic product is an important goal for economic development because it means that each individual is becoming more productive and earning more money. In a rural-urban continuum, the young entrepreneurs may be spread over rural, sub-urban and urban areas. Entrepreneurs setting up new businesses and industrial units help with regional development by locating in less developed and backward areas. The industrialisation of a country and its pace of economic development depend on the entrepreneurs. The entrepreneural pursuit is challenging and creative and can harness the extra vigour that is abundantly available with the educated youth.
Unemployment in Nigeria has affected the youth and the economic development of the country from a broad spectrum of socio-economic perspective. Entrepreneurship development is adjudged to provide meaningful promises of sustainable economic growth and development of a country. The wheel of development of any country lies on the shoulders of how productive and creative the youths are. The role of entrepreneurship in the curbing of unemployment, unstable economic growth and development cannot be emphasized. Through well planned and executed entrepreneurship education, the Nigerian youths well learn to be happy and fulfilled persons.
Entrepreneurship development should be about helping people start and grow dynamic businesses that provide high value added. The world needs to create over a billion new jobs by 2030 to accommodate existing and future unemployed youth. Development in all its dimensions must be inclusive of all people, everywhere, and should be built through the participation of everyone, especially the most vulnerable and marginalised. The age-long Western education in Nigeria, only breed graduates for white-collar jobs and does not create and develop jobs. Whilst finding a lifelong job is becoming more difficult, the good news is that it has never been easier to become self employed or to set up a business.
You will gain a good knowledge of the development process and the planning process involved in the launch of a new product. You do not have to build something innovative or unique, you just need to build something that lasts. Stakeholder Management is the process by which the key stakeholders are identified and their support can be sought the best. Economic development is one of the technology-based economic measures to move from one economic situation to another. The New Venture Challenge was established in 1996 and is widely recognized as one of the top accelerators in the country.
Business ideas creativity and innovation are the important conditions for developing entrepreneurship is the country. Strong oral and written English is essential, with a high standard of written English being particularly important. The focus on entrepreneurship is not surprising, given the role that it can play in tackling unemployment. Even for a large and advanced economy like the United States, foreign markets have a significant role.
Successful entrepreneurship involves much more than just having a great idea or creating a new business venture. Whether you are just starting out with an idea or looking to grow your current company, entrepreneurship can be an exciting and rewarding journey. Any growing business will eventually want to get started with exports to expand their business to foreign markets. Every workshop is available on demand afterward, so you can consult them whenever you need.