1.1 Introduction
Funds are necessary to maintain both human and material resources of every system in order to achieve desired goals. Education as a worthwhile venture requires adequate funding to bring about desirable changes among individuals and the nation in general. Presently in Nigeria and world over, much emphasis is placed on entrepreneurship education among youths to fortify them with necessary entrepreneurial skills, for effective performance in the business world to become self-reliant. Entrepreneurial skill acquisition is the ability to of an individual to exploit an idea and create an enterprise (Small or Big) not only for personal gain but also for social and developmental gain (Olagunju, 2004).
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitations of the Study and Definition of technical terms.
1.2 Background of Study
Entrepreneurial skills acquisition are said to be the necessary set of skills required to be an entrepreneur. In other words, entrepreneurial skills acquisition are those necessary skills an entrepreneur needs to successfully run a business or add value to work. Agu, Chiaha and Ikeme (2013) argued that acquisition skills must be nurtured through proper education so that it can be directed to responsible and enriching small business endeavours that will benefit the individuals and the communities in which the entrepreneurs live. Entrepreneurship skills acquisition can also be defined as those skills that an individual should possess to enable him/her succeed in a virtual learning environment.
Entrepreneurship education has continued to feature as a captivating theme in local summits and international conferences because of its potency as tool for mitigating unemployment and other social- economic challenges inhibiting sustainable development in all parts of the globe Akhuemonkhan, Raimi and Sofoluwe (2013). The teaching and learning of Entrepreneurship Education in tertiary institutions is of paramount interest to all stakeholders. The National Policy on Education describes Education as an instrument „par excellence‟ for effecting national development (FRN, 2004). It is conceived that education is capable of bringing about the desired socio-economic and political changes in the country. The recent call for the inclusion of Entrepreneurship Education in tertiary educational institutions in Nigeria is an indication of its importance to employment creation; as Nigeria continues to turn out graduates from our various institutions that are hardly self-reliant but solely dependent on white collar jobs for sustenance because they lack adequate skills that will make them function effectively and efficiently towards the development of the economy. The rate at which young people are leaving school and seeking employment continuously outpaces the capacity of the economy to provide employment. The value system of the Nigerian society has changed due to the transition from school to work to earn a living. This is because Nigeria that once harbored aliens from West African countries and beyond for employment is currently recording high rate of unemployment (Anyaogu, 2009).
The scourge of graduate unemployment in Nigeria is blamed on the university curriculum which has been geared towards stereotyped goals and jobs without adequate practical work. In other words, graduates from our universities acquire knowledge without entrepreneurial skills which would enable them, on graduation to practice what was learnt in school, create jobs for themselves and others and participate in economic development in Nigeria.
Therefore, in South East Nigeria where the research was carried out, the activities that was conducted is to know the Funding Strategy for Promoting Skill Acquisition in Business Education in Universities.
1.3 Statement of Problems
Investigation reveals that the Inadequate funding leads to dearth of necessary facilities needed to boost the entrepreneurship education programme in the EDCs in most tertiary institutions. No worthwhile venture will be fruitful, no matter how well the programme is planned if there is no adequate funding.
The implication of these is the turnout of graduates without the necessary entrepreneurial skills. The amount spent on education goes a long way in determining the quality of education offered and quality of its product. No educational programme can be effectively managed and administered without adequate funding.
1.4 Aim and Objectives of Study
The aim of the study is to scrutinize the Funding Strategy for Promoting Skill Acquisition in Business Education in South East Nigeria Universities. In achieving this aim, the following specific objectives were laid out as follows:
- To determine the extent to which Funding Strategy Promotes technical innovation skill acquisition of Business Education graduates in South East Nigeria Universities
- To investigate the influence of creativity on skill acquisition of Business Education graduates in South East Nigeria Universities
- To assess extent to which risk-taking affect skill acquisition of graduates in South East Nigeria Universities
- To examine the influence of opportunity recognition on skill acquisition of graduates in South East Nigeria Universities
1.5 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:
- To what extent to which Funding Strategy Promotes technical innovation skill acquisition of Business Education graduates in South East Nigeria Universities?
- Is there any significant factor influencing the creativity on skill acquisition of Business Education graduates in South East Nigeria Universities?
- To what extent to which risk-taking affect skill acquisition of graduates in South East Nigeria Universities?
- What are the influences of opportunity recognition on skill acquisition of graduates in South East Nigeria Universities?
- How adequate are opportunity recognition affect skills acquisition of graduates’ in South East Nigeria Universities?
1.6 Research Hypothesis
In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.
Hypothesis One
- H0: There is no significant factor influencing the creativity on skill acquisition of Business Education graduates in South East Nigeria Universities
- H1: There is a significant factor influencing the creativity on skill acquisition of Business Education graduates in South East Nigeria Universities
Hypothesis Two
- H0: Funding Strategy on Creativity has no significant positive effect on skills acquisition of graduates in public Universities in South-East Nigeria.
- H1: Funding Strategy on Creativity has a significant positive effect on skills acquisition of graduates in public Universities in South-East Nigeria.
1.7 Significance of Study
It is hoped that the outcome of this study will be of great benefit to employers, secretaries, institutions and trainers of secretary, as it will provide a research based contribution on the Modern Instructional Resources Needed for Skills Acquisition among Business Education Students in Tertiary Institution.
This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.
1.8 Scope of Study
The study focuses on the Funding Strategy for Promoting Skill Acquisition in Business Education in South East Nigeria Universities.
1.9 Limitations of the Study
During the course of this study, many things militated against its completion, some of which are:
- 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.
- Research material: availability of research material is a major setback to the scope of the study.
- Frequent power failure: This made the researcher append more money on fuel to ensure sustainable power.
- 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).
