Enhancing Entrepreneurial Orientation and Business Development Capacity of Architects in Nigeria

Abstract

Enhancing Entrepreneurial Orientation and Business Development Capacity of Architects in Nigeria 1. Introduction Due to global financial crisis, unpredictable economy, societal changes and changing market demands there has been significant challenges and changes in the practice of architecture that calls for architects and architectural firms to adapt, innovate and redesign their business models in order to stay competitive. Scarcity of financial resources, integrated contracts and increasing competition among actors in the architecture, engineering and construction (AEC) industry, has made the scope of architectural services to become less defined (Bos-de Vos, et al., 2014). In order to create and appropriate value architects have to become better and more knowledgeable entrepreneurs. Value creation in the creative industry in which architecture belongs has two dimensions-the symbolic (creative) and economic (Van Andel and Vandenbempt, 2012). The economic dimension keeps the business afloat and prosperous. It has as entrepreneurial construct factors such as planning, decision-making, innovation, marketing strategies, management, risk-taking, persistent, and financial management. The creative (symbolic) dimension plays an important role in value creation and capturing design processes of architectural firms (Bos-de Vos, et al., 2014). The architect plays many roles as problem solver and social engineer within the context of finding solutions to pressing issues of physical development, as an educationist and as an entrepreneur or businessman. Traditionally, the architect is trained to ultimately go into private practice with emphasis on building designs and supervision without adequate preparation to utilise opportunities opened to him in other business areas. Consequently, the architect fails to adapt to changing conditions in the economic and business environment. The business environment is an ever-changing area of activity. Many graduates of the departments/schools of architecture practice architecture by necessity (Reinholdt, 2015). Today's economic reality requires the reconciliation of the world of design and form with the world of business development (Reinholdt, 2015). However, due to the nature of their training, with no firm background on entrepreneurial and business development, architects in Nigeria are not equipped to practice with an appreciable degree of effectiveness and competitiveness. Therefore, there is need to develop practical approaches that merge entrepreneurship with the practice of architecture to create better value for the work of architects in Nigeria.