International Journal of Economics and Business Administration
Articles Information
International Journal of Economics and Business Administration, Vol.4, No.1, Mar. 2018, Pub. Date: Mar. 13, 2018
Exploring Entrepreneurial Management and Diversification for Sustainable Development in Nigeria
Pages: 6-14 Views: 651 Downloads: 362
Authors
[01] John N. N. Ugoani, College of Management and Social Sciences, Rhema University, Aba, Nigeria.
Abstract
The exploratory research method was used and designed to explore the relationship between entrepreneurial management and diversification for sustainable development in Nigeria. Since the discovery of oil in Nigeria in the 1950s, attention has been directed away from other critical sectors of the economy. This omission gave rise to the situation where the oil and gas subsector contributes over 96 percent to the country’s export earnings but without the sad side effects of unemployment and poverty. Entrepreneurial management is not limited to the private sector but embraces the heavy public sector industries; agriculture and manufacturing so as to enhance the chances of employment generation, poverty reduction and sustainable development in Nigeria. The combined contribution of agriculture and industries subsectors of about 47 percent, against 53 percent by services to the real GDP, explains the necessity for economic diversification. The success story of the Dangote Group in Nigeria is synonymous with entrepreneurial management and diversification, and this is the story of employment creation, innovation, managerial creativity, hunger and poverty minimization. This is the story the UN wants to hear towards achieving the 2030 SDGs target, because a situation of about 39 percent extreme poverty rate leaves much to be desired. Through empirical analysis the study found positive association between entrepreneurial management and diversification for sustainable development in Nigeria.
Keywords
Entrepreneurial Behavior, Managerial Behavior, Adventurism, Strategic Entrepreneurship, Strategic Management, Dangote, Entrepreneurial Culture
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