This document summarizes a study on the power of knowledge of management techniques on productivity among indigenous entrepreneurs in Nigeria. It begins by providing background on the importance of management techniques and productivity for business success. It then states the problem as many Nigerian entrepreneurs lacking knowledge of basic managerial concepts and focusing too much on self-employment. The study aimed to determine the effect of management knowledge on productivity, surveying 300 entrepreneurs in Aba, Nigeria. It hypothesized that management techniques significantly affect productivity. The literature review discussed factors influencing managerial effectiveness and productivity. The document concludes that understanding management techniques is crucial for enterprise success in today's business environment.
Enhancement of critical thinking skills of vocational and adult education stu...Alexander Decker
This document discusses strategies for enhancing critical thinking skills among vocational and adult education students in Nigeria. It finds that skills like analyzing, evaluating, and challenging assumptions are important. Some identified strategies include debate, group discussion, solving problems/puzzles, and capacity building programs for lecturers. The goal is to develop students' critical thinking to promote entrepreneurship and employability.
This is a review and compilation of management concepts and ideas especially applicable to entrepreneurial ventures. www.profjorgeentrep-ateneo.blogspot.com
This document discusses the critical skills needed for success in today's changing workplace. It notes that management skills are key to company success and outlines skills like flexibility, creativity, cooperation and ethical behavior that are in high demand. Specific management skills needed vary by organizational level but include conceptual, human and technical abilities. While skills training is common, many companies still fail to develop important managerial competencies in areas like leadership, stress management and performance feedback.
This document provides an overview of entrepreneurship. It defines entrepreneurship as activities carried out by a person to establish and run business enterprises according to changing social, political and economic environments. Entrepreneurship development is influenced by psychological traits like achievement motivation, sociological traits, and economic factors in a region. The document discusses different concepts of entrepreneurial traits and provides a definition of entrepreneurship. It explains that entrepreneurship development activities are multiplying due to changes in the liberalized economy.
Managing knowledge workers for change management dimensionsAlexander Decker
This document discusses managing knowledge workers and knowledge management practices for change management. It suggests that training and support from top management are important factors for initiating knowledge management. Compensation and rewards are also key to encouraging knowledge sharing and retention of knowledge workers. A competitive compensation package that appreciates a knowledge worker's skills and contributions can help drive adoption of change management.
The document discusses the changing role of human resource management in global organizations. It outlines several theoretical bases that influence how HR functions in different stages of a company's global life cycle and based on the orientation of international executives. As businesses globalize, HR must adapt to new challenges like a diverse workforce, changing work nature/organization, and complex global environments characterized by competition, continuous change, and legal/political diversity. The strategic role of HR depends on the organization's structure and needs to develop skills like global operations, business/finance, strategic thinking, technology use, and change management.
This document discusses entrepreneurship and the characteristics of successful entrepreneurs. It defines an entrepreneur as someone who undertakes an enterprise with the risk of profit or loss. Entrepreneurship involves creating something new and different that has value through time, effort and risk taking, with the potential for rewards like independence, satisfaction and money. Successful entrepreneurs exhibit traits like achievement motivation, determination, risk taking ability, opportunity recognition, and perseverance. The document also outlines various theories of entrepreneurship and factors that influence entrepreneurial success.
Chapter 1 The Revolutionary Impact of Entrepreneurship691966
The document provides an overview of entrepreneurship and entrepreneurial concepts. It discusses:
- The definition and evolution of entrepreneurship, distinguishing entrepreneurs from small business owners.
- Different schools of thought on entrepreneurship, including trait, opportunity, strategic formulation, environmental, and financial capital schools.
- Approaches to studying entrepreneurship, such as integrative, assessment, and multidimensional approaches.
- Trends in entrepreneurship research including venture financing, corporate entrepreneurship, social entrepreneurship, and women/minority entrepreneurs.
- The impact of entrepreneurship on the economy through job creation, innovation, and contributions of small businesses and "gazelle" companies.
Enhancement of critical thinking skills of vocational and adult education stu...Alexander Decker
This document discusses strategies for enhancing critical thinking skills among vocational and adult education students in Nigeria. It finds that skills like analyzing, evaluating, and challenging assumptions are important. Some identified strategies include debate, group discussion, solving problems/puzzles, and capacity building programs for lecturers. The goal is to develop students' critical thinking to promote entrepreneurship and employability.
This is a review and compilation of management concepts and ideas especially applicable to entrepreneurial ventures. www.profjorgeentrep-ateneo.blogspot.com
This document discusses the critical skills needed for success in today's changing workplace. It notes that management skills are key to company success and outlines skills like flexibility, creativity, cooperation and ethical behavior that are in high demand. Specific management skills needed vary by organizational level but include conceptual, human and technical abilities. While skills training is common, many companies still fail to develop important managerial competencies in areas like leadership, stress management and performance feedback.
This document provides an overview of entrepreneurship. It defines entrepreneurship as activities carried out by a person to establish and run business enterprises according to changing social, political and economic environments. Entrepreneurship development is influenced by psychological traits like achievement motivation, sociological traits, and economic factors in a region. The document discusses different concepts of entrepreneurial traits and provides a definition of entrepreneurship. It explains that entrepreneurship development activities are multiplying due to changes in the liberalized economy.
Managing knowledge workers for change management dimensionsAlexander Decker
This document discusses managing knowledge workers and knowledge management practices for change management. It suggests that training and support from top management are important factors for initiating knowledge management. Compensation and rewards are also key to encouraging knowledge sharing and retention of knowledge workers. A competitive compensation package that appreciates a knowledge worker's skills and contributions can help drive adoption of change management.
The document discusses the changing role of human resource management in global organizations. It outlines several theoretical bases that influence how HR functions in different stages of a company's global life cycle and based on the orientation of international executives. As businesses globalize, HR must adapt to new challenges like a diverse workforce, changing work nature/organization, and complex global environments characterized by competition, continuous change, and legal/political diversity. The strategic role of HR depends on the organization's structure and needs to develop skills like global operations, business/finance, strategic thinking, technology use, and change management.
This document discusses entrepreneurship and the characteristics of successful entrepreneurs. It defines an entrepreneur as someone who undertakes an enterprise with the risk of profit or loss. Entrepreneurship involves creating something new and different that has value through time, effort and risk taking, with the potential for rewards like independence, satisfaction and money. Successful entrepreneurs exhibit traits like achievement motivation, determination, risk taking ability, opportunity recognition, and perseverance. The document also outlines various theories of entrepreneurship and factors that influence entrepreneurial success.
Chapter 1 The Revolutionary Impact of Entrepreneurship691966
The document provides an overview of entrepreneurship and entrepreneurial concepts. It discusses:
- The definition and evolution of entrepreneurship, distinguishing entrepreneurs from small business owners.
- Different schools of thought on entrepreneurship, including trait, opportunity, strategic formulation, environmental, and financial capital schools.
- Approaches to studying entrepreneurship, such as integrative, assessment, and multidimensional approaches.
- Trends in entrepreneurship research including venture financing, corporate entrepreneurship, social entrepreneurship, and women/minority entrepreneurs.
- The impact of entrepreneurship on the economy through job creation, innovation, and contributions of small businesses and "gazelle" companies.
This document discusses the importance of talent and human resources (HR) strategies for companies. It notes that HR must focus on developing talent through benchmarking productivity, strategic goal-setting, rewarding performance, and cultivating strong leadership. The article cites an executive from Maybank who explains their approaches to benchmarking against global competitors, setting ambitious productivity targets, and rewarding employees to motivate higher performance. It also discusses the need for leaders to serve as role models in developing future leaders within an organization.
[HR601] 001. Introduction of Knowledge Management AriantoMuditomo
Copyright Notice:
This presentation is prepared by Author for Perbanas Institute as a part of Author Lecture Series. It is to be used for educational and non-commercial purposes only and is not to be changed, altered, or used for any commercial endeavor without the express written permission from Author and/or Perbanas Institute. Appropriate legal action may be taken against any person, organization, or entity attempting to misrepresent, charge, or profit from the educational materials contained here.
Authors are allowed to use their own articles without seeking permission from any person, organization, or entity.
The document discusses the concept of entrepreneurship, defining it as an innovative function that involves introducing new products, methods of production, markets, or supply sources. Entrepreneurship is characterized by risk-taking and involves connecting resources to organize new business ventures. Modern concepts view entrepreneurs as agents of change who transform resources into goods and services, often leading to industrial growth.
Human Resource Management is an offshoot of the management discipline, which emphasis on how to attract, hire, train, motivate and retain employees. Skilled employees become a cause of competitive advantage in this global village, who continually faces the turbulent environmental changes taking place in the business world. The researcher found that Human Resource practices are too important to have an impact on the achievements of organizational objectives in the world of competition
The document summarizes key concepts in management including:
1) Managers are responsible for achieving organizational objectives through efficient use of resources. Their main functions are planning, organizing, leading, and controlling.
2) There are three levels of management - top, middle, and first-line managers - requiring different skills.
3) Entrepreneurs found new business ventures while intrapreneurs create new lines of business within existing companies.
4) An effective business plan outlines the business concept, operations, marketing strategy, finances, and goals.
This document provides an overview of entrepreneurship development. It discusses the need and significance of entrepreneurship development in a global context. Entrepreneurship development programs aim to develop entrepreneurial qualities, motivate achievement, and enable participants to start their own businesses. The document outlines the typical objectives, content, and misconceptions of entrepreneurship development programs. It also discusses different target groups for these programs and the role of entrepreneurs in economic development, with the state playing an important supporting role.
Entrepreneurship and business management rajat jasuja
This document discusses entrepreneurship and business management. It defines entrepreneurship as taking risks, owning/organizing a business, and innovating. An entrepreneur is defined as someone who starts their own business to make a profit. Entrepreneurship plays an important economic role by creating jobs, developing local economies, and allocating resources efficiently. Small businesses make significant contributions to national income and employment. The document outlines various functions of entrepreneurship including marketing, operations, finance, product development, and organizational management. It emphasizes the need for entrepreneurs to be innovative, focus on customers, and efficiently manage resources.
- The document discusses an entrepreneurship development program that uses a "backward integration model" where investors identify entrepreneurial skills in students and mentor them to build startup companies on campus.
- The goals are to develop a few innovative startups with early success, expose students to real entrepreneurship experience, and reduce risks for investors and students.
- It also discusses investors' views that the entrepreneur and team are more important than the idea, and that campus programs can help configure entrepreneurial teams and develop products with expert guidance and less dependency.
- The document discusses an entrepreneurship development program that uses a "backward integration model". This model aims to increase an investor's control over entrepreneurs being developed at educational institutes by identifying entrepreneurial students and mentoring them.
- The program helps build innovative startups from student entrepreneurs with early success and future potential, while exposing students to real entrepreneurship experience. It also addresses investors' expectations for running such a program alongside academics.
- The study examines students' reasons for pursuing this program and investors' views on what enables building successful startups from students. It assesses the program's potential to reduce startup failure risks and instill confidence in investors and entrepreneurial students.
Entrepreneurs (the driving force behind small business) Sara Elhadidy
The document discusses entrepreneurs and small businesses. It notes that in the US, entrepreneurs start over 6 million businesses per year. Entrepreneurs take initiative, are willing to accept risk, and identify opportunities to create new businesses. While small businesses provide many benefits like flexibility and potential for high profits, there are also drawbacks such as long hours, stress, and risk of business failure. Overall, small businesses make up the vast majority of US companies and are a major driver of job creation and innovation.
Challenges of hrm with modern and future referencesVindhya Theneri
The document outlines current and future challenges for human resource management. Current challenges include the rise of independent contractors, balancing work-life demands, changing employee expectations, globalization, and managing diversity. Future challenges will involve increased workplace flexibility due to virtual offices, rapid technological changes, socio-cultural shifts in the workforce, developing human capital, and potential labor shortages as growth rates decline. HRM must adapt strategies to address these ongoing trends affecting the workforce.
Seneca green sustaiability symposium march 2011Philbert Suresh
This document discusses sustainability, leadership, and change. It examines drivers of sustainability like consumer demand, stakeholder influence, and resource depletion. It uses Accenture as a case study, highlighting how the company has embedded sustainability into its culture and identified six key drivers. The document outlines challenges of managing a multigenerational workforce and need for strategic and holistic approaches to sustainability for the 21st century.
The document discusses entrepreneurship development and communication skills in India. It provides an overview of the business environment in India post-liberalization, including policies to support small industries. It defines entrepreneurship and describes the characteristics of successful entrepreneurs. It also discusses the importance of planning, monitoring, and evaluation for running a successful enterprise, and explains entrepreneurship development programs in India.
This document discusses contemporary challenges in management of organisations and behaviour. It outlines several key challenges modern organizations face, including economic pressure, globalization, innovation, managing change, providing good customer service, and ensuring employee satisfaction. The document provides examples of how companies like Nintendo, Xerox, Apple, and ICICI Bank have adapted to these challenges through strategies like expanding product lines during an economic crisis, recruiting a global workforce, prioritizing research and development, rebranding to reflect business changes, and offering new customer service technologies.
This document provides an overview of entrepreneurship development and outlines the process. It discusses:
1. Entrepreneurship development aims to improve entrepreneur skills and knowledge through training to increase new business creation and economic growth.
2. The key steps in entrepreneurship development programs are outlining objectives, selecting potential entrepreneurs with education or local market knowledge, and providing support through private or government organizations.
3. The process involves clearly defining program objectives, selecting educated or uneducated targets with potential, identifying local market needs, and providing training and resources to help entrepreneurs improve over time.
This document outlines the topics and syllabus for a course on strategic entrepreneurship at Universiti Malaysia Kelantan's Faculty of Business and Entrepreneurship. The syllabus covers environmental scanning, opportunity recognition, resource identification, new venture creation strategies, decision making, rapid growth management, and developing sales and marketing strategies. Key sources discussed include works by Hisrich, Peters, Mehra, Dollinger, Drucker, and others on entrepreneurship, innovation, and small business management.
Research Paper titled “Innovation through Intrapreneurship – A Management’s Perspective” on how manager's can foster an environment of innovation & spirit of startups in an Enterprise.
This document discusses strategic entrepreneurship and environmental scanning. It defines strategic entrepreneurship as a set of decisions and actions that generate and exploit new market entries over time. Environmental scanning involves monitoring factors in the societal, task, and internal environments that may impact a business. The societal environment comprises economic, sociocultural, political-legal, and technological forces. The task environment refers to industry-specific factors like customers, suppliers, and competitors. The internal environment includes a company's resources, culture, and structure. Regular environmental scanning is important for strategic entrepreneurship.
This document provides an overview of entrepreneurship development. It defines entrepreneurship as using private initiative to start a new business or grow an existing one. Entrepreneurship development focuses on training and programs to enhance entrepreneurial skills and knowledge to generate employment and economic growth. The document discusses the characteristics of entrepreneurs, competencies needed for entrepreneurship like knowledge, skills, attitudes, and factors to consider when starting an enterprise such as market assessment, growth strategies, and profitability measures. It emphasizes the important role of entrepreneurship in strengthening economic growth and modernization.
This document summarizes the Community Health Information Tracking System (CHITS) project in the Philippines. It discusses how CHITS aims to [1] integrate fragmented health information systems at rural health units through an electronic system, [2] improve low-quality data collection by empowering frontline health workers, and [3] enable evidence-based decision making through integrated access to patient and program data. The system is built through partnerships between health centers and technical experts, with a focus on technology, training, and teamwork.
The document discusses the history and importance of knowledge and its representation in artificial intelligence and the semantic web. It describes how early AI systems focused on symbolic reasoning and expert systems that required extensive knowledge engineering. The challenges of knowledge acquisition and maintenance led to new approaches using ontologies and machine learning. The development of the world wide web created opportunities for people to contribute knowledge on a global scale. The semantic web further aims to define knowledge with formal semantics to enable computers and people to better collaborate.
This document discusses the importance of talent and human resources (HR) strategies for companies. It notes that HR must focus on developing talent through benchmarking productivity, strategic goal-setting, rewarding performance, and cultivating strong leadership. The article cites an executive from Maybank who explains their approaches to benchmarking against global competitors, setting ambitious productivity targets, and rewarding employees to motivate higher performance. It also discusses the need for leaders to serve as role models in developing future leaders within an organization.
[HR601] 001. Introduction of Knowledge Management AriantoMuditomo
Copyright Notice:
This presentation is prepared by Author for Perbanas Institute as a part of Author Lecture Series. It is to be used for educational and non-commercial purposes only and is not to be changed, altered, or used for any commercial endeavor without the express written permission from Author and/or Perbanas Institute. Appropriate legal action may be taken against any person, organization, or entity attempting to misrepresent, charge, or profit from the educational materials contained here.
Authors are allowed to use their own articles without seeking permission from any person, organization, or entity.
The document discusses the concept of entrepreneurship, defining it as an innovative function that involves introducing new products, methods of production, markets, or supply sources. Entrepreneurship is characterized by risk-taking and involves connecting resources to organize new business ventures. Modern concepts view entrepreneurs as agents of change who transform resources into goods and services, often leading to industrial growth.
Human Resource Management is an offshoot of the management discipline, which emphasis on how to attract, hire, train, motivate and retain employees. Skilled employees become a cause of competitive advantage in this global village, who continually faces the turbulent environmental changes taking place in the business world. The researcher found that Human Resource practices are too important to have an impact on the achievements of organizational objectives in the world of competition
The document summarizes key concepts in management including:
1) Managers are responsible for achieving organizational objectives through efficient use of resources. Their main functions are planning, organizing, leading, and controlling.
2) There are three levels of management - top, middle, and first-line managers - requiring different skills.
3) Entrepreneurs found new business ventures while intrapreneurs create new lines of business within existing companies.
4) An effective business plan outlines the business concept, operations, marketing strategy, finances, and goals.
This document provides an overview of entrepreneurship development. It discusses the need and significance of entrepreneurship development in a global context. Entrepreneurship development programs aim to develop entrepreneurial qualities, motivate achievement, and enable participants to start their own businesses. The document outlines the typical objectives, content, and misconceptions of entrepreneurship development programs. It also discusses different target groups for these programs and the role of entrepreneurs in economic development, with the state playing an important supporting role.
Entrepreneurship and business management rajat jasuja
This document discusses entrepreneurship and business management. It defines entrepreneurship as taking risks, owning/organizing a business, and innovating. An entrepreneur is defined as someone who starts their own business to make a profit. Entrepreneurship plays an important economic role by creating jobs, developing local economies, and allocating resources efficiently. Small businesses make significant contributions to national income and employment. The document outlines various functions of entrepreneurship including marketing, operations, finance, product development, and organizational management. It emphasizes the need for entrepreneurs to be innovative, focus on customers, and efficiently manage resources.
- The document discusses an entrepreneurship development program that uses a "backward integration model" where investors identify entrepreneurial skills in students and mentor them to build startup companies on campus.
- The goals are to develop a few innovative startups with early success, expose students to real entrepreneurship experience, and reduce risks for investors and students.
- It also discusses investors' views that the entrepreneur and team are more important than the idea, and that campus programs can help configure entrepreneurial teams and develop products with expert guidance and less dependency.
- The document discusses an entrepreneurship development program that uses a "backward integration model". This model aims to increase an investor's control over entrepreneurs being developed at educational institutes by identifying entrepreneurial students and mentoring them.
- The program helps build innovative startups from student entrepreneurs with early success and future potential, while exposing students to real entrepreneurship experience. It also addresses investors' expectations for running such a program alongside academics.
- The study examines students' reasons for pursuing this program and investors' views on what enables building successful startups from students. It assesses the program's potential to reduce startup failure risks and instill confidence in investors and entrepreneurial students.
Entrepreneurs (the driving force behind small business) Sara Elhadidy
The document discusses entrepreneurs and small businesses. It notes that in the US, entrepreneurs start over 6 million businesses per year. Entrepreneurs take initiative, are willing to accept risk, and identify opportunities to create new businesses. While small businesses provide many benefits like flexibility and potential for high profits, there are also drawbacks such as long hours, stress, and risk of business failure. Overall, small businesses make up the vast majority of US companies and are a major driver of job creation and innovation.
Challenges of hrm with modern and future referencesVindhya Theneri
The document outlines current and future challenges for human resource management. Current challenges include the rise of independent contractors, balancing work-life demands, changing employee expectations, globalization, and managing diversity. Future challenges will involve increased workplace flexibility due to virtual offices, rapid technological changes, socio-cultural shifts in the workforce, developing human capital, and potential labor shortages as growth rates decline. HRM must adapt strategies to address these ongoing trends affecting the workforce.
Seneca green sustaiability symposium march 2011Philbert Suresh
This document discusses sustainability, leadership, and change. It examines drivers of sustainability like consumer demand, stakeholder influence, and resource depletion. It uses Accenture as a case study, highlighting how the company has embedded sustainability into its culture and identified six key drivers. The document outlines challenges of managing a multigenerational workforce and need for strategic and holistic approaches to sustainability for the 21st century.
The document discusses entrepreneurship development and communication skills in India. It provides an overview of the business environment in India post-liberalization, including policies to support small industries. It defines entrepreneurship and describes the characteristics of successful entrepreneurs. It also discusses the importance of planning, monitoring, and evaluation for running a successful enterprise, and explains entrepreneurship development programs in India.
This document discusses contemporary challenges in management of organisations and behaviour. It outlines several key challenges modern organizations face, including economic pressure, globalization, innovation, managing change, providing good customer service, and ensuring employee satisfaction. The document provides examples of how companies like Nintendo, Xerox, Apple, and ICICI Bank have adapted to these challenges through strategies like expanding product lines during an economic crisis, recruiting a global workforce, prioritizing research and development, rebranding to reflect business changes, and offering new customer service technologies.
This document provides an overview of entrepreneurship development and outlines the process. It discusses:
1. Entrepreneurship development aims to improve entrepreneur skills and knowledge through training to increase new business creation and economic growth.
2. The key steps in entrepreneurship development programs are outlining objectives, selecting potential entrepreneurs with education or local market knowledge, and providing support through private or government organizations.
3. The process involves clearly defining program objectives, selecting educated or uneducated targets with potential, identifying local market needs, and providing training and resources to help entrepreneurs improve over time.
This document outlines the topics and syllabus for a course on strategic entrepreneurship at Universiti Malaysia Kelantan's Faculty of Business and Entrepreneurship. The syllabus covers environmental scanning, opportunity recognition, resource identification, new venture creation strategies, decision making, rapid growth management, and developing sales and marketing strategies. Key sources discussed include works by Hisrich, Peters, Mehra, Dollinger, Drucker, and others on entrepreneurship, innovation, and small business management.
Research Paper titled “Innovation through Intrapreneurship – A Management’s Perspective” on how manager's can foster an environment of innovation & spirit of startups in an Enterprise.
This document discusses strategic entrepreneurship and environmental scanning. It defines strategic entrepreneurship as a set of decisions and actions that generate and exploit new market entries over time. Environmental scanning involves monitoring factors in the societal, task, and internal environments that may impact a business. The societal environment comprises economic, sociocultural, political-legal, and technological forces. The task environment refers to industry-specific factors like customers, suppliers, and competitors. The internal environment includes a company's resources, culture, and structure. Regular environmental scanning is important for strategic entrepreneurship.
This document provides an overview of entrepreneurship development. It defines entrepreneurship as using private initiative to start a new business or grow an existing one. Entrepreneurship development focuses on training and programs to enhance entrepreneurial skills and knowledge to generate employment and economic growth. The document discusses the characteristics of entrepreneurs, competencies needed for entrepreneurship like knowledge, skills, attitudes, and factors to consider when starting an enterprise such as market assessment, growth strategies, and profitability measures. It emphasizes the important role of entrepreneurship in strengthening economic growth and modernization.
This document summarizes the Community Health Information Tracking System (CHITS) project in the Philippines. It discusses how CHITS aims to [1] integrate fragmented health information systems at rural health units through an electronic system, [2] improve low-quality data collection by empowering frontline health workers, and [3] enable evidence-based decision making through integrated access to patient and program data. The system is built through partnerships between health centers and technical experts, with a focus on technology, training, and teamwork.
The document discusses the history and importance of knowledge and its representation in artificial intelligence and the semantic web. It describes how early AI systems focused on symbolic reasoning and expert systems that required extensive knowledge engineering. The challenges of knowledge acquisition and maintenance led to new approaches using ontologies and machine learning. The development of the world wide web created opportunities for people to contribute knowledge on a global scale. The semantic web further aims to define knowledge with formal semantics to enable computers and people to better collaborate.
Knowledge is power - why is knowledge management critical to any companyYves-Alain Schwaar
Knowledge is power.
in our information age, knowledge caption and spreading within organization is a critical competitive advantage. Proper knowledge management allows a company to better understand its market, products, competition and own company through the eyes of its employees.
The document discusses three authors - Peter Senge, Ikujiro Nonaka, and Hirotaka Takeuchi - and two of their works. It outlines Peter Senge's five disciplines of a learning organization from his book "The Fifth Discipline": personal mastery, mental models, shared vision, team learning, and systems thinking. It also summarizes Nonaka and Takeuchi's 4-stage model of knowledge conversion between tacit and explicit knowledge and five enablers that support knowledge creation.
Peter Senge is an expert in organizational learning and founder of the Society for Organizational Learning. He authored The Fifth Discipline, which introduced concepts like learning organizations, systems thinking, and the five disciplines of a learning organization - personal mastery, mental models, shared vision, team learning, and systems thinking. Senge's work focuses on developing organizations where people continually expand their capacity to achieve desired results through fostering new ways of thinking and learning how to see the organization as a whole.
Knowledge management is important for organizations today for three main reasons: globalization, leaner organizations with increased workloads, and corporate amnesia due to increased workforce mobility. Effective knowledge management involves capturing knowledge (tacit and explicit), sharing knowledge through communities of practice, and embedding knowledge management systems into organizational processes. Key technologies that support knowledge management include intranets, groupware, document management systems, and knowledge bases. Case studies of knowledge management in Indian companies like NTPC, PowerGrid, and IT industries demonstrate how capturing tacit knowledge, collaborating, disseminating best practices, and driving innovation can provide benefits at the individual, community, and organizational levels.
This document discusses ways for homeowners to save money on their utility bills through energy efficiency improvements and use of smart devices. It outlines steps individuals can take to monitor energy usage, identify energy vampires, improve insulation, utilize renewable energy sources, install smart thermostats and timers, and purchase devices to reduce power consumed by appliances in standby mode. The goal is to help homeowners save an additional 10% on their bills with no loss of comfort. Savings to date from previous efficiency efforts are estimated at £700.
Last parts of a knowledge management course for MBA students. These parts deal with 1) P. Senge's Learning Organization and 2) competitive intelligence
The document discusses knowledge management and introducing a service knowledge management system. It covers some key concepts in knowledge management, such as the challenges of managing knowledge and different types of knowledge. It then defines what a service knowledge management system is and discusses some of its related elements. Finally, it provides an overview of first steps organizations can take to implement knowledge management and leverage social media.
A collection of quotes from an American systems scientist who is a senior lecturer at the MIT Sloan School of Management, co-faculty at the New England Complex Systems Institute, and the founder of the Society for Organizational Learning, Peter Senge
Knowledge is power & prevention powerpoint 10joann7591
Abstinence-only sexual education programs teach abstinence as the most effective method to avoid pregnancy and are common in U.S. schools, but often provide false or misleading information about sex and contraception. Over $1.5 billion has been spent on such programs since 1996 despite their ineffectiveness, and advocates argue for more comprehensive sex education that provides medically accurate information to help empower youth and reduce risks.
The document discusses Peter Senge's book "The Fifth Discipline" which argues that learning organizations require five core disciplines - systems thinking, personal mastery, mental models, shared vision, and team learning. It provides definitions and explanations of these disciplines, with a focus on systems thinking involving understanding organizational patterns and leveraging them, and personal mastery as continually expanding one's ability to achieve desired results through commitment to truth. The disciplines together can help organizations adapt to changing environments through improved learning.
Peter Senge "Fifth Discipline" Book Review - Learning Organization BibleFilipe Pinto
This is the review of Peter Senge's "Fifth Discipline".
Peter Senge's "Fifth Discipline" is a road map for any organization trying to find the passage from the industrial age to the information age.
It is also an amazing introduction to some of the concept of new science such as complexity theory and system's theory in general.
Organizations will only survive in the 21st century if they pair up the perpetual state of change of business, with the perpetual state of learning.
If you prefer the video version, please check the following video on YouTube - http://www.youtube.com/watch?v=oBEWrlsl58Q
M2MSys® is an expert on applying new science (chaos, quantum mechanics, evolution, complexity) to business process management.
P.S. - If you use the material, please make sure that you reference the source. Thanks!
Industry researchers at Gartner announced in April 2012 that the worldwide business intelligence, analytics, and performance management software market surpassed the US$12 Billion level in 2011, a 16.4% increase over the previous year. This statistic is among many pointing to the need for both groups to apply what management guru Peter Senge proclaimed decades ago in The Fifth Discipline: the need for a learning organization. This presentation focuses on three learning areas for anyone in the business analytics profession. First, we analysts need to learn what the markets and industries are saying today. We discuss recent trends which show how analytics will shape the future. Second, we need to learn what group learning options are available. From industry conferences (such as the PASS BA Conference, and virtual PASS sessions) to free MOOCs (massive open online courses), we have more options available to improve our knowledge. Finally, we need to learn what leadership roles our groups can have. We can leverage social networks (including PASS) and social media -- both individually and as organizations -- to communicate passion.
The document discusses knowledge management practices and tools. It covers topics such as different types of knowledge, knowledge processes like identification and acquisition, tools to support knowledge transfer and sharing like databases and incentive systems, and frameworks like the SECI model. The overall purpose is to provide models and guidelines for implementing important practices and tools for professional knowledge management.
Presentation About what is Knowledge Management but specifically what is Knowledge Management Tools which are Available for Evaluating the Business Models of the Organisation.
The document discusses knowledge management, including:
1) It defines the types of knowledge as explicit, tacit, old, and new. Explicit knowledge can be documented while tacit knowledge resides in people's minds and is harder to articulate. Old knowledge refers to what an organization already knows while new knowledge is created.
2) Knowledge transforms from data to information as it is contextualized, categorized, calculated, corrected, and condensed. It further transforms to knowledge through comparison, examining consequences, making connections, and conversation.
3) Knowledge management strategies focus on better utilizing existing or "old" knowledge within an organization as well as creating new knowledge. Often the first step is identifying what an organization already knows that resides in different
The document discusses key concepts in knowledge management including definitions, types of knowledge, knowledge life cycles, learning styles, technologies, and roles in organizations like libraries. It defines knowledge management as planning, designing, building, operating and maintaining knowledge management systems to manage both explicit and tacit knowledge. Success requires leadership, culture, infrastructure and connecting people with information and each other.
Introduction to entrepreneurship.
A mandatory course for second year student at the department of business administration and entrepreneurship development, institute of public administration and management, University of Sierra Leone. This is an excerpt of the full course...
Serial entrepreneurs create multiple successful businesses that employ others. This document analyzes the traits of serial entrepreneurs in three areas: attitudes, behaviors, and professional skills. It finds that serial entrepreneurs highly value profit/usefulness (utilitarian attitude) and knowledge (theoretical attitude). Their behaviors include being very competitive, trusting, and rule-breaking. They exhibit above-average mastery in skills like leadership, goal-orientation, and persuasion. The document concludes that serial entrepreneurs have the right attributes and focus from a young age to succeed in building multiple businesses.
Entrepreneurial Intention of Undergraduates in Sri Lanka with References to S...IRJET Journal
The document summarizes a study that examined the entrepreneurial intentions of undergraduates in Sri Lanka. It analyzed how fear of failure, network availability, entrepreneurial experience, and family support impact entrepreneurial intention. The study distributed surveys to 400 undergraduates across four universities. It found statistically significant positive correlations between network availability, experience, and family support with entrepreneurial intention. Fear of failure had a statistically significant negative correlation. Regression analysis also found fear of failure, network availability, and family support had statistically significant impacts on undergraduate entrepreneurial intention in Sri Lanka.
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Youth Entrepreneurship: Opportunities and Challenges in Indiaiosrjce
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This UKTI report, written by The Economist Intelligence Unit, looks at how to foster an entrepreneurial mindset both through education systems and business experience, and what makes entrepreneurs thrive. Read more>>http://bit.ly/16vlYCB
Most businesses fail due to internal reasons like excessive debt or failure to change, rather than external factors. A common element of failed businesses is that they did not operate as an open organization. An open organization continuously imports information from its environment, uses it to design products/services that provide value to customers, and exports resulting products, services, and waste. Key elements of an open organization include a culture that shares information openly, diverse employees with a variety of experiences, and systems that support innovative behavior and equal access to information. While being open enables learning and adaptation, organizations must also innovate rather than just adapt and avoid becoming too reactive to avoid failure over time.
New Paradigm For Management Education Paper For National Conference At Vim V2.0Anand Joshi
Technology has made significant changes to the way we do business and the changes are more rapid for Gen-Y. The challenge is not only to prepare Gen-Y for management roles or entrepreneurship, but also to prepare them for the new ways of doing business.
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- Entrepreneurship is important for society as it challenges existing hierarchies and redistributes wealth, driving change and innovation. It provides career opportunities for those marginalized in traditional employment.
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- University education should provide a breadth of skills from different disciplines to develop "jacks-of-all-trades", as well as more practical skills in business planning, accounting, strategy, and communication.
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Human resource management (HRM) plays an important role in small and medium-sized enterprises (SMEs) due to their significant contributions to economic growth and employment. While SMEs face limitations like a low capital base and lack of access to technology, HRM can help SMEs overcome these challenges through functions like acquisition, development, motivation, and maintenance of employees. Networking also offers SMEs an important way to address common problems and improve competitiveness through initiatives within industry clusters.
Management and entrepreneurship - introductionRajendra Prasad
The knowledge of management science is very much essential for an engineer
management science helps to brings together the technological problem-solving savvy of engineering
Knowledge Management Strategies and Their Contribution to Small and Medium En...inventionjournals
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Power of the knowledge of management techniques on productivity among indigenous entrepreneurs in nigeria
1. European Journal of Business and Management www.iiste.org
ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol.5, No.12, 2013
148
Power of the Knowledge of Management Techniques on
Productivity among Indigenous Entrepreneurs in Nigeria
John N. N. Ugoani, Ph.D*
Onwubiko N. Dike
Department of Management Sciences, Rhema University, P.M.B. 7021 Aba, Abia State, Nigeria
∗ E-mail of the corresponding author: drjohnugoani@yahoo.com
Abstract:
The research was conducted to determine the power of the knowledge of management techniques among
indigenous entrepreneurs in Nigeria and make recommendations. The survey research method was used and
researchers self-designed questionnaire, titled, “Entrepreneurs Self-Assessment Questionnaire” (ESAQ) and
face-to-face personal interviews were used to generate data. Management techniques involve the entire body of
systems, procedures and methods of the science and art of managing to achieve enterprise objectives. In Nigeria
today the great need for sound financial intelligence, planning and management makes the understanding of
concepts such as ROA, balance-sheet analysis, variable budgeting, ratios, business plans, etc important for
emerging entrepreneurs of the current century. Entrepreneurs as decision-makers are constantly under enormous
business pressure to make realistic and intelligent projections in key financial variables on how to maximize
organizational efficiency and profitability. Data collected were organized and coded before they were classified.
To obtain result, data were analyzed through the use of tables, frequencies, percentages and Chi-Square statistics.
The Test Statistics showed that knowledge of management techniques is important for superior productivity
among indigenous entrepreneurs in Nigeria. Eight recommendations were made based on the result of the study.
Keywords: Entrepreneurs, Management Techniques, Indigenous, ERP, Efficiency, Wharton, Productivity,
Kleptomania, Touting, Ownership, Business Plan ICT.
1 Background
Today, a major challenge of the contemporary entrepreneur in the business world is the way the enterprise can
grow, survive and possibly harvest adequate returns through corporate productivity in a rapidly changing
environment. Productivity is inextricably highly correlated to the ability of the entrepreneur to effectively manage
available resources. This is imperative because the reality of entrepreneurship today is that any one that is less
creative, innovative resilient and so on, easily closes shop. In order to remain afloat, entrepreneurs require a very
deep knowledge of a wide array of management techniques that will help them in meandering despite volatile
environmental variables. After over 80 years of tertiary education in Nigeria, the National Universities
Commission (2011) realized the need to integrate entrepreneurship education into academic and vocational
courses to help in accelerating economic growth. Entrepreneurs are men and women who engage in the network of
exchanges that stimulate and promote business opportunities and the economy at large. They are constantly
engaged in opportunity search and identification; feasibility analysis of new ventures and new venture financing
business planning process, startup decision-making, as well as finding out what motivates people to begin new
businesses. They strive to understand the importance of efficiency in management, the concept of marketing,
ethics in business and ethical behaviors and practices, community welfare projects, personal discipline and
continuous learning. Added to the compelling needs of competition and globalization, these attributes of an
entrepreneur differentiate him/her from the traditional small business holder. Generally speaking, a small business
refers to any business that is independently owned and operated, is small in size and does not dominate its market.
In the USA for example, it is a business that employs fewer than 100 employees; and in Nigeria it refers to a
business that employs less than 50 workers or fewer and with an initial capital of less than N60,000.00. These
parameters vary from time to time and from place to place. Compared to the small business, one of the most
important goals of entrepreneurship, on the other hand, is growth. An entrepreneurship may be small during its
early stages, but the goal is to become a medium-sized business of 100-499 employees or a large business of 500 or
more employees. Entrepreneurship creates jobs, stimulates innovations, and provides opportunities for diverse
people in society. They are responsible for a major proportion of new and innovative products and services into the
market. They are usually started by visionary people who develop an innovative way to doing something faster,
better, cheaper or with more features. Entrepreneurships frequently pioneer new techniques with the potential to
making older technologies become obsolete. Some learn entrepreneurship from successful family role models,
while others stumble onto it by inventing a new product and building a business around it. Still others become
2. European Journal of Business and Management www.iiste.org
ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol.5, No.12, 2013
149
completely dissatisfied with corporate careers and discover that entrepreneurship provides an attractive set of
interesting challenges and rewards. Among the key characteristics associated with entrepreneurship include the
need for high achievement, an internal locus of control, ability to take and bear risks and self-reliance.
Entrepreneurs must be self-confident, with strong beliefs in their own ability to succeed. When a person with self
confidence fails or makes a mistake, he or she is likely to accept responsibility for the outcome and try harder,
rather than search for external reasons to explain the failure. This is ownership. Entrepreneurs are persistent and
are self motivated to overcome barriers that would deter others (Gomez-Mejia & Balkin, 2002, Okenwa, 1999,
Middleton, et al, 1993). With the study of management receiving global interest and recognition, the question of
whether management is a science or an art with universal application has been the concern of scholars and
practitioners over the years. A real science should explain phenomena regardless of national or cultural situations
or environments. Unless basic management science is useful for practitioners in different conditions it will not
serve a meaningful purpose. The task of an operational science is to organize pertinent knowledge so as to make it
applicable and thereby useful to those who would achieve budgeted goals. It is believed that management
fundamentals-concepts, theories, and principles have universal application in every kind of enterprise and at every
level of an enterprise. But obviously, the specific problems with which managers deal, the individuals and groups
with which they interact, and the elements of the external environment will not be the same. Whether management
is an art or a science is not as important as the fact that management is a process that is used to accomplish
organizational goals. It is the very process that is used to achieve what an organization wants to achieve. An
organization could be a small business enterprise, a school or a government agency. In light of the increasing
concern for economic growth and productivity it is now recognized more than ever before that management
know-how is a crucial factor. This position is easily understandable because the goal of managing is to make it
possible and feasible for individuals to work in groups in such a manner as to achieve the most in terms of purposes
sought by an enterprise or at worst, a reasonable percentage of it with the human and other resources present.
Certainly, ineffective managership leads to inefficient use of resources, whether the goal of an enterprise is
economic, social, political or any other, (Rostow, 1962, Sayles, 1964, Kaliski, 2001, Berman, Knight & Case,
2006). Farmer and Richman (1965) view management as the single most critical social activity in connection with
economic progress. Physical, financial and material resources are by themselves but passive agents: they must be
effectively combined and co-ordinated through sound active management if a business enterprise is to experience a
substantial level of productivity and economic growth. A business enterprise can boast of sizeable human
resources, including plentiful skilled labour, substantial capital base, but still be relatively poor and inefficient
because very few competent managers are available to put these resources efficiently together in the production
and distribution of useful goods and services,. A good example is the case of Nigeria where banks with high
depositors’ funds, plentiful skilled manpower, still collapse like a pack of cards mainly due to managerial
inefficiency and kleptomania. This underscores the importance of management techniques and skills on enterprise
success. (Ugoani, 2010, McClelland, 1975). Blending management theory and practice is critical for enterprise
productivity because when a combination is made between management fundamentals, expressed in basic
concepts, techniques, and principles to a given situation progress can be made towards productivity. Simply put,
productivity is a common measure of how well a business enterprise is using its available resources, or factors of
production to achieve its goals. This can only be achieved through sound management because management makes
the difference between successes or failures of an enterprise. In its broadest sense, productivity is defined as:
Productivity = Output
Input
Productivity is a relative measure. In other words, to be meaningful, it must be compared with something else. For
example, one business enterprise can compare its balance sheet with that of a similar enterprise by way of total
measure that is: Outputs,
Inputs. Such a comparison will indicate to the business enterprise the quality of its management. (Chase, Aquilano
& Jacobs, 2001). Any entrepreneur that lacks the power of the knowledge of basic business and managerial control
techniques is bound to suffer unquantifiable losses and eventual collapse (Richman, 1967a
). To survive therefore,
and since the beginning of administrative wisdom is the awareness that there is no one optimum type of
management style, the need for multiple management techniques cannot be overemphasized.
1.1 Statement of the problem
A nightmare of indigenous entrepreneurs is how to balance theory and practice of management for the effective
management of their enterprises. Based on the traditional illusion of full ownership some entrepreneurs tend to
ignore basic managerial concepts and ethics that would otherwise help in the proper running of their enterprises.
3. European Journal of Business and Management www.iiste.org
ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol.5, No.12, 2013
150
The entrepreneurs as an innovator must possess basic and fundamental qualities which differentiates her from the
group. Among the critical qualities are creativity, self-confidence, dynamism, transformational leadership,
knowledge, optimism, self-respect, humility, vision, hard work, openness as well as flexibility among others.
These qualities will help the entrepreneur in defeating the problem of how to generate important business ideas for
new entrepreneurial businesses. A twine challenge is that many Nigerian entrepreneurs are too self-employment -
focused. The business is usually small and with manage-it-myself mentality. This level of mindset makes them to
be sole performers, the business becomes all consuming and quickly they are rundown and the enterprises never
outlive the entrepreneurs. For example, to remedy the situation, Diamond Bank is collaborating with Enterprise
Development Centre (EDC) of the Pan African University to help provide leading ways and assistance to micro,
small and medium enterprises because they are seen as the bedrock of the economy (Anele, 2012, Isimoya, 2012)
1.2 Delimitation of the Study
The study was delimited to 300 respondents in Aba, South East Nigeria because it has the highest number of
entrepreneurs in the zone.
1.3 Limitation of the Study:
The study was limited by poor road network and lack of research grants.
1.4 Hypotheses
To guide the study, these hypotheses were formulated and tested at 0.05 level of significance:
Ho: Management techniques have no significant effect on productivity among indigenous entrepreneurs in
Nigeria.
HI: Management techniques have significant effect on productivity among indigenous entrepreneurs in
Nigeria.
2 Literature Review
Hypothesizing that management of productive enterprises is directly related to the external environment in which a
manager operates and that managers may at times affect this environment. Farmer and Richman (1965) believe
that management practice and its effectiveness will depend to a major extent upon external environmental
characteristics. They think that if the major goal of a business enterprise is productivity, then it will be concerned
with managerial effectiveness. Managerial effectiveness is defined as simply as how well and efficiently the
managers of an enterprise in a given environment accomplish enterprise objectives. The efficiency of an individual
business enterprise may be ascertained by looking at a wide range of factors. One of these is productivity as
measured either by the return on net worth or on assets employed. Another way is how well the business entity
competes with peers in the same market. A third is the output per employee such as target achievement, among
others. Organizational performance is a measure of how efficiently and effectively managers use resources to
satisfy customers and achieve organizational goals. Organizational performance increases in direct proportion to
increases in efficiency and effectiveness. Efficiency is a measure of how well or how productively resources are
used to achieve a goal. Organizations are efficient when managers minimize the amount of input resources such as
labour, materials, etc, or the amount of time needed to produce a given output of goods or services. By way of
distinction, effectiveness is a measure of the appropriateness of the goals that managers have selected for the
organization to pursue, and of the degree to which the organization achieves those goals. Organizations are
effective when managers choose appropriate goals and then achieve them. A manager’s responsibility is to ensure
that an organization and its members perform as efficiently as possible, all the activities needed to provide goods
and services to customers. Basically, managers who are effective are those who choose the right organizational
goals to pursue and have the skills to utilize resources efficiently. For example, the wide spread notion in Nigeria is
that banks are not giving adequate financial support to entrepreneurs. But according to Oputu (2012) Micro, Small
and Medium Enterprises (MSMEs) access to financing hinges on adequate capacity building. She explained that
the Bank of Industry (BOI) has attributed the inability of MSMEs to access intervention funds and other forms of
financing to lack of innovativeness and ill-prepared business proposals. This statement suggests that many
entrepreneurs are not used to writing good business plans. In this enterprise internet computing era (1992 to
present) understanding the use of the computer and its related techniques will help active entrepreneurs in
producing good business plans. Client/server computing enables business enterprises to distribute computing work
across a number of smaller, inexpensive machines that cost much less than mini computers or centralized main
frame systems. The result is an explosion in computing power and applications throughout the organization that
facilitate the architectures for e-commerce and e-business. The resultant information and communication
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technology (ICT) infrastructure links different types and brands of computer hardware and smaller networks into
an enterprise-wide network so that information can flow freely across the organization and between the
organization and other organizations. Enterprise networks link manufacturers, servers, personal computers (PCs),
mobile phones and other handheld devices, and connect to public infrastructures such as the telephone system, the
Internet and public network services. The enterprise infrastructure employs software that can link disparate
applications and enable data to flow freely among different part of the business enterprise. The enterprise
computing era promises to bring about a truly integrated ICT services platform for the management of global
enterprises. This is the promise, but the reality is wrenchingly difficult and awesomely expensive, in terms of
knowledge and finance. (Laudon and Laudon, 2006). But without an Enterprise resource planning (ERP) system
driven by ICT the entrepreneur and enterprise will remain far away from the global market. (Chase, et al, 2001). In
any society or culture, resources are valuable and scarce and the more efficient and effective use that organizations
can make of those resources the greater the relative wellbeing and prosperity of people in that society. Since
managers are the people who decide how to use many of the society’s most valuable resources – its skilled
employees, raw materials, and financial assets – they directly impact the well-being of a society and the people in
it. Management also teaches people not yet in positions of authority how to lead co-workers, solve conflicts
between them, and increase team productivity. Generally, the job of management is to help an organization make
the best use of its resources to achieve its goals, through planning, organizing, leading and controlling. (Jones and
George, 2003). Managerial efficiency is constrained by some external and environmental factors such as
educational, cultural, legal and economic. Among the major educational constraints are low literacy level, low
availability of skilled manpower, and poor attitude towards management education. These educational factors
indicate how they may support or limit effective management. Like in Nigeria where education is inadequate, not
only will it limit management efficiency, business enterprises themselves tend to suffer. Where education is not
closely matched with management requirements there is always the problem of a shortage of managerial brain
power. Cultural constraints would include general poor attitude towards management and managers. For example,
some people are yet to appreciate the pivotal role of managers vis-à-vis other traditional professions like medicine
or law to the inevitable extent that they determine the success or failure of an enterprise. Labour laws tend to affect
managerial efficiency to the extent that it must observe the rules in trying to enforce discipline, even if it is right.
Such laws may apply to hours and conditions of work, tenure and job security, employer responsibility for health
and welfare of employees. A very important constraint is economic. Among these are the basic economic
system-whether it is predominantly private or public ownership, whether it is competitive and to which extent
government controls economic activities. Economic stability is equally a significant economic variable. A degree
of price stability is highly desirable, since managers are required to make many fairly long-range commitments and
are almost always forced to rely very largely upon financial data for much of their planning and control. Again
since capital is the lifeblood of any business enterprise, organization of capital markets is an important
environmental factor. The manager operating in an environment where capital is reasonably available has
tremendous advantages over one who operates in an environment where capital is very scarce and expensive.
There is a difference between the art and science of management, but one complements the other, that is, theory
and practice. Also, the effectiveness of an enterprise operation depends not only on management but also on other
factors. Management knowledge does not by any means encompass all the knowledge that is utilized in an
enterprise. Many enterprises have been successful, despite poor management, just because of brilliant marketing,
strong engineering, well-designed and well-operated production or astute financing, but the effectiveness of
management will ultimately make the difference between continued success or decline, at least in a competitive
economy, it is still true that enterprises have for a time succeeded entirely through non managerial factors. It is also
probably true that if an enterprise has excellent capabilities in non managerial areas effective managing will assure
its success. Therefore enterprise activities can be categorized into two broad areas: managerial and non managerial.
And either or both can be these causal factors for at least some degree of enterprise effectiveness. According to
Richman (1967b
) Science is organized knowledge, theory is a structure of fundamental concepts and principles
around which knowledge in a field is organized, and principles are regarded as fundamental truths – or what are
thought to be truths at a particular time – which can be used to describe and predict the results of certain variables
in a given situation. Management know-how on the other hand, refers to the effective application of knowledge, it
includes knowledge of the underlying science and the artful ability to apply it in a particular situation so as to be
productive. Unfortunately, semantic problems cloud the understandings of these concepts. The concepts of
management philosophy, management know-how, management practice, management theory, management
principles, and management knowledge are often left undefined. Management philosophy for instance has such a
variable meaning as almost to defy definition. Strictly speaking philosophy is the love, study, or pursuit of
knowledge, and the term is sometimes, but certainly not always, used synonymously with science. Management
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philosophy is used to describe the attitudes of managers towards such groups as customers, shareholders, suppliers,
unions, and the government (Haire, et al, 1966). Despite these differences and distinctions, effective application of
management techniques and utilization of management know-how would involve three critical human components:
(1) relevant previous experience or specific expertise, (2) high intelligence quotient (IQ) and (3) a series of
relevant emotional intelligence (EI) competencies (Cherniss & Goleman, 2001). In measuring the efficiency of
management Entrepreneurs should concentrate on comparing inputs and outputs at a given time (Gonzalez &
McMillan (1961).
3 Methodology
The survey research design was used for this study. Researchers’ self-designed questionnaire titled “Entrepreneur
Self Assessment Questionnaire (ESAQ) on a 5 point Likert scale and in-depth personal interview methods were
used for data generation. Using Yamane (1967) formula the sample size of 300 was derived from a population of
1200 entrepreneurs in Aba, Abia State of Nigeria. The systematic linear Random Sampling Technique was used to
select the 300 respondents for the study. The two methods of data generation were used to complement,
supplement, and validate data through each other. The reliability coefficient of the research instrument was 0.90,
derived from Cronbach’s Alpha technique. To systematically analyze data, tables, frequencies, percentages, and
Chi-square Test Statistics were used, upon which opinions, recommendations and conclusion were based. (Eboh,
2009).
4 Presentation of Results
Table 1: Sex of Respondents
S/No Respondents Responses Percentage
1 Male 100 33.33%
2 Female 200 66.67%
3 Total 300 100%
Source: Fieldwork, 2012
Table 1 showed that 200 or about 66.67% of the respondents were female while the rest 38.33% were male.
Table 2: Characteristics of Respondents
Category
Respondents
Sex Educational Qualifications Average Age
Total
Percentage
ofTotal
Male Female WAS,C
ND
BSC,
HND,
etc
MSC
&
others
26
–
45
46
–
50
51 &
above
1 Male 60 60 60 60 20
30 30 30 30 10
10 10 10 10 3.33
2 Female 105 105 105 105 35
70 70 70 70 23.34
25 25 25 25 8.33
Total 100 200 165 100 35 165 100 35 300 100%
Source: Field work, 2012
From table 2, it was seen that 60 or 20% of the male respondents within the average age of 26 – 45 held
qualifications such as WASC, ND, etc while 105 representing about 35 percent of the female respondents aged
between 26 – 45 years also held WASC, ND, qualifications among others. With this analysis it was believed that
the respondents were knowledgeable in the matter under investigation.
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Table 3: Analysis of Responses
Resp Agreed Disagreed Strongly
Agreed
Strongly
Disagreed
Neutral Total Calculated
value
Table
value
Level of
Significance
d/f
Male 15 20 10 30 25 100
Female 20 30 50 40 60 200
Total 35 50 60 70 85 300 13.342 9.488 0.05 4
Source: Test Statistics
From the Test statistics in table 3 it was noted that the calculated value of 13.342 was significantly greater than the
table value of 9.488 at 0.05 level of significance with 4 degrees of freedom. With this empirical result Ho: which
stated that management techniques have no significant effect on productivity was rejected and the alternate
hypothesis which stated that management techniques have significant effect on productivity was accepted. This
result supports the popular view among many management scholars that knowledge of management techniques is
critical for performance success. Also, the United States of America realized this early enough when the first
University business school was established there in 1881 in the Wharton School of the University of Pennsylvania.
84 years after the Americans embraced business education the British realizing the importance of proper
management of scarce resources followed by the establishment of the Manchester and London Graduate Schools
in 1965. Understanding management techniques among indigenous entrepreneurs involves proficiency in such
basic areas as tables, frequencies, return on assets (ROA), business statistics, percentages, ratios, variable
budgeting, book-keeping, among others. According to Ejiofor (1987) knowledge of business and managerial
control techniques is necessary to enable managers succeed. He opines that Nigeria’s managers have a pivotal role
to play in indigenizing the economy, and that the growth rate of the Nation’s Gross National Product (GNP) is an
index of the efficiency of the country’s managers and the resilience of her resources. According to Ojiabor (2012)
the House of Representatives sub-committee on Budget had to walk a Minister out of the hallowed chambers for
failure to convert his Ministry’s performance levels to percentages. This single incident illustrates the importance
of management techniques. Even though Nigeria embraced management education in 1961 through the University
of Nigeria, Nsukka, a lot needs to be done to expose indigenous entrepreneurs to basic management techniques and
skills. With over 17m Micro, Small and Medium Enterprises (MSMEs) in Nigeria, exposing entrepreneurs to
critical management techniques is inescapable for the growth of the domestic economy. Towards this end efforts
are being made by various groups, local researchers, and organizations to mount trainings for entrepreneurs in
Nigeria. Taking a major step, the National Universities Commission (2011) has directed all Universities in Nigeria
to include B.Sc degree in Entrepreneurship in their academic curriculum, as a means of upgrading the productive
capacity of Nigerian enterprises. (Aganga, 2012, Adako, 2006, Agomu, 2002, Akinola, 2000, Isyaoku, 2002,
Osuala, 1999, Agbamu, 2006, Shetty, 1966).
4.1 Scope for Further studies
Another study should focus on productivity among owner-managed MSMEs in Nigeria to find out the reasons for
the frequent failures of such businesses.
4.2 Recommendations
1. Entrepreneurs should have a broad business and management knowledge. This will help them in
generating innovative ideas.
2. People in high government positions like Ministers should not delude themselves in believing that any
one person knows everything. Running a Ministry is all about management so such people should avail
themselves of basic management training irrespective of their areas of specialization to avoid public
embarrassment.
3. Management courses should be made compulsory for students of management and social sciences in
tertiary institutions in Nigeria. This will correct the present situation whereby some take them as
electives while others do not offer them at all. The step will help in turning our better graduates in these
areas.
4. Entrepreneurs should endeavour to separate ownership from management. This will give them the
benefit of the desired managerial efficiency arising from professional experience of experts.
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5. The Federal Government of Nigeria (FGN) through the appropriate agencies should introduce a license
for managers like lawyers and medical doctors. This will help in checking the present situation whereby
people without managerial education and managerial experience are allowed to perform the duties and
functions of managers to the detriment of high productivity, and reduce touting in the profession.
6. Entrepreneurs should take advantage of available academic and development programmes. This will
expose them to a wide range of management techniques needed for higher productivity.
7. Other organizations should emulate the Diamond Bank/Pan African University experiment. This will
help in producing well equipped entrepreneurs.
8. Entrepreneurs should key into ICT as a way of reaping the benefits associated with global enterprises.
5 Conclusion
The indigenous entrepreneurs’ knowledge and application of management techniques significantly affect
productivity. The development and sustenance of the growth of an enterprise depend, to a large extent, on the
managerial skills of the entrepreneur. Since the entrepreneur is faced with planning, organizing, controlling,
leading, and coordinating all the operations of the enterprise, the knowledge of such management techniques as
business planning, among others is imperative. Business planning serves as a road map that enables the
entrepreneur to access the risk factors before committing the scarce resources. The viability and feasibility indices
of the venture are defined in the plan. Business plan guides the entrepreneur on how to harness available resources
with the functions of production, marketing, logistics/storage and gathering of feedbacks for enhanced
productivity. The failure of most indigenous enterprises may therefore not be far from the substitution of business
planning with entrepreneurial zeal or intuition.
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