1.0 Introduction
1.1 Background of the Study
In recent years, the majority of nations have seen a steady but unequal development in the field of entrepreneurship education. The United States, a pioneer and leader in the subject, has defined the previous ten years as a crucial epoch, with a notable rise in student interest (Fiet 2001a). The figures appear to corroborate this claim.
In the United States, there were just 16 universities and colleges that provided entrepreneurship education programmes in 1971; today, there are over 800. in the social sciences, particularly in economics, entrepreneurship is a topic that is being researched. It wasn't always this way; Schumpeter goes into great detail on the part entrepreneurship plays in the process of economic growth. Regarding his opinion, an entrepreneur is a creatively motivated person who discovers novel combinations of production components in order to create and develop a new product, implement a new market strategy, or produce a new technological advancement.
In the United States, colleges and business schools have a rather lengthy history of supporting entrepreneurs. Even though Harvard Business School offered its initial entrepreneurship classes in the 1930s, interest in this topic has grown since the 1970s. Thus, the advancement in this subject has been quite spectacular, with estimates that by 1990, 400 colleges in America had already exceeded 700 (Vesper and Macmillan 1988: Hills and Morris 1988, Fiet 2001).
1.2 Statement of Problem
Investigation revealed that the number of students choosing to pursue careers in entrepreneurship is rising globally. The attitudes and actions of students and recent graduates are impacted by a variety of personal and contextual factors, according to Brenneret 1991, Hart et Harrison 1992, and Kovereld (1996). Meanwhile, interest in traditional professional employment in large company is steadily waning.
An anticipated value, which encapsulates the possible outcomes and their likelihood of happening, may be used to characterise outcomes under uncertainty. When it comes to business profits, the entrepreneur's work effort is usually an uncertain function. The expected profit level for each effort level is surrounded by a variance of profit outcomes because of factors like macroeconomic variables, price and product offerings, competition, and unanticipated changes in consumer preferences.
1.3 Aim and Objectives of the Study
The aim of the study is to explore the determinants of entrepreneurship amongst graduates in Nigeria. In achieving this aim, the following specific objectives were laid out as follows:
- To determine and stimulate the need for achievement on entrepreneurial intentions;
- To assess the entrepreneurial intention towards Nigeria’s graduates;
- To ascertain what control belief influence entrepreneurial intention; and
- To encourage and determine the attitude of young Nigeria graduates towards self employment.
1.4 Research Questions
The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:
- What stimulates the need for achievement on entrepreneurial intentions?
- What is the entrepreneurial intention towards Nigeria’s graduates?
- What control belief influence entrepreneurial intention?
- What is the attitude of young Nigeria graduates towards self employment?
1.5 Significance of the Study
Naturally, most economic theories of entrepreneurship make the assumption that the main goal of entrepreneurs' financial goals is to maximise profits. A few early ideas did acknowledge, although, that entrepreneurs may also have goals other than financial success, such the desire to innovate. The exploration of uncharted territory, the ambition to establish markets that outperform competitors in the marketplace, and dynastic goals.
According to the idea of planned behaviour, there are many exciting and widely applicable applications in the realm of entrepreneurship. There are ramifications for education and training associated with the notion. Education and teaching factors have been recognised by studies since the early 1980s as having a significant impact on the formation of attitudes about the viability and attractiveness of entrepreneurial action.
Acknowledging the transformative power of owning a firm, this research provided an inventory of economic psychological characteristics that might be utilised to construct a model of the factors influencing entrepreneurial inclinations.
1.6 Scope of the Study
The scope of this research is focused on Exploring the Determinants of Entrepreneurship Amongs Graduates. Spatially, the study is limited to young graduates in Nigeria.
1.7 Limitations of the Study
During the course of this study, there were some problems encountered which stood as limitations to the research work. Some of the limitations include:
- Time Constraint:
The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
- Financial Constraint:
Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
- Initial Cooperation Delay from Respondents:
A particular limitation of this work came as a result of the respondent refusal to offer their cooperation at the initial time they were contacted. This contributed in making the success of this research study difficult.
1.8 Definition of Terms
Entrepreneur:
An entrepreneur is a person who creates a new business in the face of risk and uncertainty for the purpose of achieving profits and growth by identifying opportunities and assembling the necessary resources to capitalize on them Zimmerer and Scarborough (2002).
Proactive:
A person controlling a situation by making things happens rather than waiting for things to happen and reacting to them.
Autonomy:
This is the ability to act and make decisions without being controlled by anyone else.
Entrepreneurial Behaviour:
This factor corresponds to the attitudes towards the behaviour, and is dependent on beliefs relating to the behaviours positive or negative impacts.
Attitude:
The way you think and feel about somebody or something, the way that you behave towards somebody or something that show how you feel.
Spatial:
This is relating to space or position, size, shape etc. Of things.
Temporal:
This is a particular quality in one’s personality. This is a strong desire to have or do something.
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