We are only touching on its potential as the key to long term economic sustainability by supporting and empowering SMME’s in Africa and around the world. With further research and technological development, the defects that come with ICT and SMME integration will slowly decrease until eventually everyone will have the resources and information required to create an environment where business owners thrive, thus drastically changing the current economic state. In the passed it was said that money made the world go round. Today it is Information and communication technology that makes the world go
Introduction to Economic Crisis in Nigeria Recently Nigeria has been declared the African Country with the largest Economy and sadly knocked South Africa into second place. Nigeria may view this as a major feat but that is where the good news ends. In all other situations South Africa surpasses Nigeria: employment, per capita income and practically everything else. Although evidently, there is no improvement in the Nigerian economy, it is fair to say that an economy does not improve overnight but this new realization has set the climate for Nigeria, given some procedures are executed and some problems are addressed appropriately, to do away with some economic crisis that hinders its growth and development. History of Nigeria’s economic challenges
A Book Report of Social Entrepreneurship: The Secret to Starting a Business Worth Living For By: Marcel N. Kwedi (First Edition) Introduction: Social Entrepreneurship: The Secret to Starting a Business Worth Living for is made by Marcel N. Kwedi. Marcel is the current founder and president of the WOHAOO Initiative project. This Project of him is a platform to get funding for the Social Enterprises who need it around the World. He defined Social Entrepreneurship with the new view of General Theory of Social Entrepreneurship. This theory states that social entrepreneurship is any business activity that uses strategies that are innovative and sustainable to construct and come up with new products which can fill up the unsatisfied needs of the
Stories that are told by entrepreneurs create possibilities for newly established business in ways that can lead favorable interpretation of wealth creation possibilities of the venture. This enables resources flow to new enterprises. It clearly shows that; the origin of entrepreneurship comes from social interaction between different individuals and it also gives the idea of social constructivism. The basis of social constructionist perspective is clearly on assumption of ontology, epistemology and ideology (Steyaert, (1997) Chell and Pittaway, (1998); chell et al ). Ontology position of social constructionism is that entrepreneurship and entrepreneurs are subjectively and
However, South Africa is still a developing country. Its economic growth depends entirely on natural resources such as mining and agriculture (Rankin, 2013). In 2012, agriculture contributed only 3% to the GDP of South Africa, industry 28% and services 69%. Although agriculture had least contribution to the GDP, its importance should not be overlooked. Agriculture also plays an important role in South Africa’s trade with the world.
• Investigate competitive advantage strategies that promote sustainability in a small business. • Investigate the case study to see how the small businesses in Johannesburg use the competitive advantage strategy and the brand strategy Definition of key concepts In this section of the study the key concepts are briefly defined below. SME Small and medium enterprises (SMEs) are increasingly seen as playing an important role in the economies of many countries. Thus, governments throughout the world focus on the development of the SME sector to promote economic growth. In South Africa, SMEs contribute 56% of private sector employment and 36% of the gross domestic product (Fatoki Olawale and David Garwe 2010:1) Brand marketing Ehmke, Cole (2011:4) a carefully conceived and executed marketing plan with a focus on the customer is a major contribution to business success.
This article is mainly about whether the innovative process inherent in corporate companies in Botswana arises as an end result or conduit of corporate entrepreneurship orientation.They believe that for companies in Botswana to be innovative , it is therefore necessary for corporate entrepreneurship orientation to become part of the company culture . There are to objectives which is to investigate how corporate entrepreneurship orientation in companies in Botswana is linked to individual employees pursuit of innovation within corporate boundaries.The second objective is to identify the prerequisites and factors of corporate entrepreneurship orientation , individual employees perception and the importance of innovation factors in established
The fast pace of development recorded through entrepreneurship development in some nations like Malaysia, Indonesia, Brazil, China and India, among others, have clearly shown that development is driven by innovativeness, creativity and enterprise of the people and government. Unfortunately, Nigeria has not been able to achieve similar feats due to so many factors among which is Nigeria’s inability to convert its abundance human and natural re to develop its economy towards promoting growth, wealth creation and employment generation. This has made it imperative to encourage and promote entrepreneurship development especially by government. 1.2 Background to the study Nigeria is endowed with entrepreneurship opportunities. However, the realizations of the full potentials of these opportunities have been dampened by the adoption of inappropriate policies at different times.
Social entrepreneurship is the attraction of growing attention, money, and talents by entrepreneurs and companies. As the major focus, it aims at developing, funding, and implementing solutions for environmental, cultural, and social issues (Chell, Spence, Perrini, & Harris, 2016). Entrepreneurs engaging in social entrepreneurship have their basic levels of operating as a social cause. The success of social ventures is measured based on the improvements realized in the world rather than profits accumulated. Such organizations attain a successful change in underlying issues in the community through feedback and innovations towards solving the social problem.
South Africa is apart of the BRICS (Brazil, Russia, India, China and South Africa), and as a result it is well integrated into the global economy. In recent years, the government has stressed the importance of boosting economic growth and cutting unemployment, its two most pressing issues. In 2010, South Africa hosted the World Cup, which helped the