Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy

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Format: Restricted Document
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building INTELEK Repository
collection Online Access
collectionurl https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072
date 2018-01-21 09:04:28
eventvenue UNISZA
format Restricted Document
id 6121
institution UniSZA
originalfilename 0898-01-FH03-FESP-18-13043.pdf
person Uzairu Gwadabe
recordtype oai_dc
resourceurl https://intelek.unisza.edu.my/intelek/pages/view.php?ref=6121
spelling 6121 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=6121 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Conference Conference Paper application/pdf 2 1.6 Adobe Acrobat Pro DC 20 Paper Capture Plug-in Uzairu Gwadabe 2018-01-21 09:04:28 0898-01-FH03-FESP-18-13043.pdf UniSZA Private Access Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy Small and Medium Enterprises (SMEs) are the backbone of the contemporary economic development due to the significant role they play in the sustainability of the world economic development (Carter & Tamayo, 2017; Wattanapruttipaisan, 2002). SMEs account for more than 90 percent of businesses, contribute to more than 50 percent of employment and over 50 per cent of gross domestic products in the world (Kessey, 2014). Nevertheless, as the result of myriad of challenges that engulfed the Nigerian business milieu, the business activities become more complex and competitive which renders the environment not only difficult for business success but resulting to the increasing failure of SMEs in the country. However, entrepreneurs need to develop strategies to survive in such an economy. The lack of entrepreneurial competencies has been identified as the leading cause of business failure in the country (Inyang & Enuoh, 2009). Therefore, the need for entrepreneurial competencies become necessary as it provides practical solutions to the mystery of business downfall (Sánchez, 2013). This review proposes a set of competencies that can equip the entrepreneurs with the necessary skills and expertise to excel in a challenging environment like that of Nigerian and it highlights the conceptualisation and synergy between competencies and entrepreneurship on SMEs performance through three distinct paths: entrepreneurial traits, innovation and entrepreneurial marketing International Academic Conference on Business and Economics (IACBE 2017) UNISZA
spellingShingle Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy
summary Small and Medium Enterprises (SMEs) are the backbone of the contemporary economic development due to the significant role they play in the sustainability of the world economic development (Carter & Tamayo, 2017; Wattanapruttipaisan, 2002). SMEs account for more than 90 percent of businesses, contribute to more than 50 percent of employment and over 50 per cent of gross domestic products in the world (Kessey, 2014). Nevertheless, as the result of myriad of challenges that engulfed the Nigerian business milieu, the business activities become more complex and competitive which renders the environment not only difficult for business success but resulting to the increasing failure of SMEs in the country. However, entrepreneurs need to develop strategies to survive in such an economy. The lack of entrepreneurial competencies has been identified as the leading cause of business failure in the country (Inyang & Enuoh, 2009). Therefore, the need for entrepreneurial competencies become necessary as it provides practical solutions to the mystery of business downfall (Sánchez, 2013). This review proposes a set of competencies that can equip the entrepreneurs with the necessary skills and expertise to excel in a challenging environment like that of Nigerian and it highlights the conceptualisation and synergy between competencies and entrepreneurship on SMEs performance through three distinct paths: entrepreneurial traits, innovation and entrepreneurial marketing
title Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy
title_full Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy
title_fullStr Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy
title_full_unstemmed Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy
title_short Entrepreneurial competencies: SMEs performance factor in the competitive Nigerian economy
title_sort entrepreneurial competencies: smes performance factor in the competitive nigerian economy