Category: Entrepreneurship and communication skills

For a business to succeed the right approach must be followed. Below is a suggested approach that can be followed: i) Idea generation. ii) Market survey: – Define problem, target population, select sample, define survey instruments, collect data, analyse data, Read More …

To achieve high productivity levels in the business enterprise, an entrepreneur requires having entrepreneurial competencies.  The following are some of the competencies necessary for setting up and managing a successful business enterprise: 1. Time management Time is a scarce resource, Read More …

Although the motivations for venturing out alone vary greatly, the following are some of the reasons cited for becoming an entrepreneur: Internal motivations and drives include: Need for self actualisation Need for achievement Need to take up a challenge Need Read More …

Many theories have been developed on motivation. The following are some theories that could support motivation. Achievement Theory (mcClelland) Human beings are seen to be driven by three main factors: Need to achieve Need for power Need for affiliation To Read More …

Motivation refers to a drive that is sufficiently pressing to direct the person to seek satisfaction of the need while a need becomes a motive when it is aroused to a sufficient level of intensity. In human psychology it is Read More …

Ideas and opportunities need to be screened and assessed for viability once they have been identified or generated. This is not an easy task though important because it makes the difference between success and failure. The exercise certainly helps in Read More …

There are various ways through which business ideas can be generated. These include: Identifying a need in the community: people usually have many unsatisfied needs. By carrying out a market survey on the location where you need to establish your Read More …

Ideas can be generated from:   Hobbies/personal interests Personal skills/experience Franchises – An agreement where manufacturers or sole traders of a trade mark, product/service gives exclusive rights for local distribution to independent retailers in return for their payment of loyalties Read More …

A good business opportunity must fulfil or be capable of meeting the following: Real demand i.e. it should respond to unsatisfied needs or requirements of customers who have ability to purchase and are willing to exercise that choice. Return on Read More …

A business opportunity is an attractive idea which provides the possibility of a return for the entrepreneur taking the risk. Such opportunities are presented by customer requirements and lead to the provision of a product or service which creates or Read More …