Dec'19
The IUP Journal of Entrepreneurship Development
Archives
The Impact of Leadership on Entrepreneurship and Innovation: Perceptions of Entrepreneurs
The study examines the impact of leadership on entrepreneurship and innovation. It is found that leadership impacts the potential of the entrepreneur, and the (entrepreneur as) innovator. Leadership also impacts entrepreneurship and innovation through a number of practical aspects. The impact of leadership on entrepreneurship is strongly dependent on the definition of leadership, and the measure used to assess leadership. Leaders and entrepreneurs, and also leaders and innovators, share a number of common skills and competencies. The entrepreneur naturally and inadvertently develops leadership skills and competencies as he develops and matures. Consequently, the development of the entrepreneur can be enhanced and accelerated through the development of leadership skill and competency. Strategic leadership forms an important aspect of entrepreneurship. A number of factors, like culture and market, impair the power and influence of the entrepreneur. It is the entrepreneur as a strong leader, who is able to rise above this. Leadership as a concept is not always fully understood by entrepreneurs, and it impacts the performance and success of entrepreneurs. Recognition of leadership and fear of failure are prominent factors that impair leadership, and consequently entrepreneurship success. Innovation can be seen as exerting influence over a context, etc., in order to shape it. Leadership and leadership process form part of innovation method and thereby affect the sustainability of innovation and innovativeness. Leadership equally affects the effectiveness and accuracy of innovation, and leadership helps to manage and direct the uncertainty associated with the innovation process. More...
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The Impact of Training on Small and Growing Businesses
It is widely believed that Small and Growing Businesses (SGBs) have the potential to be global engines of shared prosperity: to drive growth, promote sustainability, and support equality around the world. This study looks at the effect of providing training to SGBs on their growth, profitability and employment creation. Data was collected from participants of the advanced entrepreneurship program at the Institute for Small Business Initiatives in Kenya. The study features the introduction of a new metric-Effective Cash at Owner's Disposal (ECOD)-which is critical in evaluating SGBs, especially in developing economies. The data was then compared as at the intake date, 1 year and 2 years after. The findings of the study show that the program has a significant positive effect on the businesses that went through it with average revenue increasing by 63%, average EBITDA increasing by 106% and 2.2 net new jobs created by each enterprise within a year of enrolment. The study also finds that the program year is characterized by strong revenue and profit margin growth, as well as relatively moderate employment growth due to the optimization effect. In the year after the program year, the positive trend continues (at a notably lower rate), but once the streamlining process is completed, the employment growth booms (doubling the growth rate from the first year). The study also reveals that remarkable improvement in understanding of finance is not matched by an equivalent improvement in cost optimization and record keeping. The introduction of a user-friendly IT tool for financial analysis and cost optimization is likely to greatly increase the effectiveness of such entrepreneurship programs and create longer lasting impact. More...
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Entrepreneurship Development and Poverty Reduction in Nigeria: A Study of Industrial Layout, Emene, Enugu State, Nigeria
his study evaluates the effect of entrepreneurship development on poverty reduction in Nigeria using data from the industrial layout, Emene in Enugu State. Survey research method was adopted for making qualitative and quantitative evaluation by collecting relevant and substantive data. Primary and secondary data were used. A questionnaire was designed to collect necessary and relevant data from 396 respondents. The hypotheses were tested using regression analysis. The results showed that all the independent variables (skill acquisition, youth requisite training and creativity and innovations) had positive significant effect on the dependent variable (poverty reduction). The study recommends that all the levels of government, academic institutions, donor agencies and private organizations should urgently support entrepreneurship development as it is a good strategy for reducing poverty in Nigeria and other countries of the world. More...
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