Contributions to an Emerging Culture of Entrepreneurship

Obialo, Felix-Kingsley

doi:10.9734/jemt/2019/v24i530176

Cited by 5 publications

(3 citation statements)

References 8 publications

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“…Obialo [15] asserts that despite the huge prospects connected to small scale businesses, a major concern for business owners and other stakeholders in Nigeria is sustainability as many businesses fail few years into operation. Recordkeeping is a management issue affecting business success and sustainability.…”

Section: Introductionmentioning

confidence: 99%

Effects of Record Keeping on the Growth of Small Scale Enterprises in Abeokuta South Local Government Area, Ogun State, Nigeria

Olajide

Obialo²

2020

JEMT

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The study seeks to find the effects of recordkeeping on the growth of small scale enterprises (SSEs) in Abeokuta Local Government Area, Ogun State, Nigeria. Survey design was used to purposively select 120 (53 males, 67 females) business owners from a population of 170 registered SSEs in the local government registry. A structured questionnaire with a reliability index of 0.76 (Cronbach Alpha) was used to elicit information from the respondents. The businesses were trading, manufacturing, fashion, telecommunications and agriculture. Data was analysed through descriptive statistics like simple percentages, mean and standard deviation. The results revealed that the highest age range of the respondents was 26- 30 years (26.7%) while there were two lowest age ranges< 25 years and 36-40 years (2.5% each). The businesses were mostly between 1- 5 years (68.3%) old, implying that they were mostly start-ups. 31.7% of the businesses were 6 years and above, meaning that the survival rate of older businesses was low. Majority of the business owners were into manufacturing (35.8%). Despite SSEs owners having a positive attitude towards record keeping, 59.2% of them kept financial records manually by themselves without any professional help. Data also revealed that stock records influence sales growth. Income and expenditure record positively affect the profitability of small scale enterprises while debtors and creditors’ record enhance operational efficiency of SSEs. Consequently, small scale business owners should learn to keep proper financial records to forestall the collapse of their businesses by engaging professional accountants and by using different accounting software.

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Section: Introductionmentioning

confidence: 99%

Effects of Record Keeping on the Growth of Small Scale Enterprises in Abeokuta South Local Government Area, Ogun State, Nigeria

Olajide

Obialo²

2020

JEMT

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“…A key component of the lean startup method is the iterative “build-measure-learn” process (Ries, 2011 , p. 9), which allows an organisation to remove the normal wasteful activities in an operational process. Researchers (for example, Midgley & Lindhult, 2021 ; Obialo, 2019 ) identified the usefulness of lean entrepreneurship theory noting that it provides the option to engage a more resilient business approach beyond the conventional thinking about how businesses survive to create innovative new services. Obialo ( 2019 ) emphasised two critical ideas embedded in lean entrepreneurship and SMEs, including the need for uniqueness in startup features and the recognition of uncertainties faced in entrepreneurship practice, especially in a developing economic background, fraught with high unpredictable business emergencies in the business environment.…”

Section: Introductionmentioning

confidence: 99%

“…Researchers (for example, Midgley & Lindhult, 2021 ; Obialo, 2019 ) identified the usefulness of lean entrepreneurship theory noting that it provides the option to engage a more resilient business approach beyond the conventional thinking about how businesses survive to create innovative new services. Obialo ( 2019 ) emphasised two critical ideas embedded in lean entrepreneurship and SMEs, including the need for uniqueness in startup features and the recognition of uncertainties faced in entrepreneurship practice, especially in a developing economic background, fraught with high unpredictable business emergencies in the business environment. Babajide ( 2012 ) affirmed that the SME sector provides a driving force to consistent job creation, poverty reduction, wealth creation, income distribution, and reduction in income disparities.…”

Section: Introductionmentioning

confidence: 99%

Lean Entrepreneurship and SME Practice in a Post COVID-19 Pandemic Era: A Conceptual Discourse from Nigeria

Ufua

Olujobi

Tahir

et al. 2022

Glob J Flex Syst Manag

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This study investigates lean principles among Nigerian entrepreneurs and SME managers in the operational process in the aftermath of COVID-19 pandemic in Nigeria. It offers the panacea to the challenge of social-economic shocks and their adverse effects on SMEs' business activities in Nigeria. The study adopts a conceptual approach to investigate lean entrepreneurship practice by SMEs in Nigeria. It relies on data from extant literature, using a conceptual approach to examine the social-economic effects of COVID-19 pandemic and critical environmental factors on the lean entrepreneurship practice in Nigeria. Furthermore, the study explores the influence of lean practice among SMEs and entrepreneurs in Nigeria and suggests a broad model for lean entrepreneurial practice in post-COVID-19 pandemic Nigeria. Findings highlight the broad social-economic effects of COVID-19 pandemic and other challenges such as theft, host community pressure, weak legal system, and inadequate government policy support affect lean entrepreneurship practice. These factors constitute complex operational issues that would require the adoption of a more comprehensive approach to address. It also highlights crucial factors for post-COVID-19 pandemic SMEs' operational success in Nigeria due to deficits in infrastructure and regulatory efficiency for SMEs' operations to address the various challenges of business failures in Nigeria. The study suggests a lean SME and Entrepreneurial Practice model in the post-COVID-19 pandemic era. It emphasises the need to refocus the active interest of the lean entrepreneur on critical business sustainability. The study recommends a critical review of the internal operational process among practicing entrepreneurial businesses and a re-modification of public policies system that governs the operational functions of entrepreneurial practices for reasonable and resilient post-COVID-19 pandemic entrepreneurship practices that can support the SMEs and economic growth in Nigeria.

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Nigerian Cultural Concept of Humour and Its Creative Use as a Coping Strategy

Obialo

2024

The Palgrave Handbook of Humour Research

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Contributions to an Emerging Culture of Entrepreneurship

Cited by 5 publications

References 8 publications

Effects of Record Keeping on the Growth of Small Scale Enterprises in Abeokuta South Local Government Area, Ogun State, Nigeria

Effects of Record Keeping on the Growth of Small Scale Enterprises in Abeokuta South Local Government Area, Ogun State, Nigeria

Lean Entrepreneurship and SME Practice in a Post COVID-19 Pandemic Era: A Conceptual Discourse from Nigeria

Nigerian Cultural Concept of Humour and Its Creative Use as a Coping Strategy

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