Tag Archives: Business

ENTREPRENEURIAL EDUCATION

IMPACT OF ENTREPRENEURIAL EDUCATION ON DISABLED  STUDENTS IN ENUGU METROPOLIS

ABSTRACT

This study was carried out to critically examine the Impact of Entrepreneurial Education on Disabled Students in Enugu Metropolis. The study adopted a descriptive survey design in which four research questions were posed. The population of the study consisted of 9,583 disabled persons in Enugu North and Enugu East local governments of Enugu State. Simple random sampling procedure was used in selecting three (3) special education centres to represent other six (6) special education centres in Enugu Metropolis that was sampled in the study. Fourteen (14) teachers and one hundred and twenty (120) students were equally selected randomly from each of the three-special education centres making a total number of 402 respondents. A questionnaire of four-point rating scale was used as instrument for data collection. Mean statistics was used to analyze data relative to research questions with a cut-off mean score of 2.5 and percentages were used, 50% and above indicates acceptance and below represents rejected. That formed the standard for accepting or rejecting any item on the questionnaires. The result of the analyses reveals that they (disabled) face challenges when starting a business/ venture and this hinders them from becoming effective in the labour market. Challenges such as access to start-up capital, consumer discrimination which is the highest of them all, lack of confidence/ limited aspirations, training is not always tailored to individual needs and therefore of limited value to particular recipients. However already existing policy tools are not effective and efficient as the case maybe. Based on the findings, it was recommended among others that the stakeholders, government and other related/concerned bodies should encourage the special needs students by providing the necessary assistive technologies. Parent/guardians of special needs students should encourage these ones and make them feel wanted in the society instead of segregating them.

 

CHAPTER ONE

INTRODUCTION

1.1     Background of Study

Worldwide, the prevalence of disability is argued to be growing, with population ageing and increasing incidence of chronic health conditions (World Health Organisation/World Bank 2011). Disability affects a wide range of socio-economic outcomes, including labour market participation, but also other factors that shape participation including education, information and transport.

The WHO (2013) (World Health Organisation) describes disability as an umbrella term, covering impairments, activity limitations, and participation restrictions. The impairment being a problem in body function or structure; an activity limitation being a difficulty encountered by an individual in executing task or action; while a participation restriction is termed a problem experienced by an individual’s involvement in life situations. Disability is thus not just a health problem, but a complex phenomenon, reflecting the interaction between features of a person’s body and features of the society in which he/she lives. Impairment can occur from/ at birth or any time over the course of an individual’s life, either permanently or temporarily.

As pertains to its causes, explanations abound from the mystical to the empirically researched complex happenings that only genetics can provide as is the case in Systemic Lupus Erythematosis. Mugo (2010) states that traditional and spiritual beliefs play an important role in framing up comprehensions of disability in Africa. Many communities attribute disability to witchcraft, curses or conditions afflicted by bad omen and spirits with the resulting effect being that of fear and pity towards the PWD (Persons living with Disability)leading to their isolation/discrimination.

In actual schooled sense, the causes of disability are as numerous as they are indiscriminate; encompassing everyday happen-stances like road accidents, diseases as trachoma, war injuries, and work place injuries amongst others. This being the case, it should come as a sobering realization that we are all potential candidate or already might be albeit without symptom as is the case with genetically acquired degenerative diseases. With this in mind, it should bear more on our expertise, for us in academia to pay more attention to matters of disability.

The convention on the Rights of Persons Living with Disability, an initiative of the United Nations, as quoted in the WHO website, states that around 10% of the World’s population or roughly 650 million persons live with known disability. This undisputedly constitutes the world’s largest and most widespread minority and with continued trends of rapid population growth and advances in modern medicine, posits the WHO, these figures can only rise.

The first ever world report on disability (2000) co-authored by the World Bank group and WHO holds that PWD (Persons living with Disability) generally face higher rates of poverty and are afforded fewer economic opportunities compared to persons without disability. The figures are that 20% of the world‘s poorest are disabled and living in the developing countries. This sad state of affairs can find part explanation in the ostracization of PWD from mainstream social-economic life by society.

Disabled people tend to be concentrated in lower-skilled, lower-paid occupations (Meager and Higgins 2011). Low participation rates are costly for the individuals concerned in terms of economic and psychological well-being, for governments in terms of lost output and tax revenues, and increased welfare payments, and for the society in terms of the impact of social exclusion and discrimination on civic participation and public life.

However, one possible solution to problems of low participation rates lies in the potential for disabled people to become self employed or to start and run their own businesses. The relevance of entrepreneurship education to humanity and economic growth cannot be overemphasized considering its developmental incentives in the well being of an individual and promotion of economic activities. Entrepreneurship education could take the form of technical education, business education, computer application, fine and applied arts among others.

Entrepreneurship is not just skill acquisition for acquisition sake; it is an acquisition of skills and ideas for the sake of creating employment for one’s self and also others (Garba 2010). Therefore the need for entrepreneurial education to be incorporated into special needs education curriculum for this category of persons becomes a salient issue. This is because entrepreneurship education will help unlock their potentials and pave way for their financial independence and sustainability in the face of the large scale unemployment in Nigeria.

1.2     Statement of Problem

Education in Nigeria is devoid of the element crucial to averting the surging rate of unemployment with persons with impairment/ disability in the country, therefore the breeding of psychological dependence on direct access to money.

However despite the efforts by tertiary institutions in teaching various skills and trades, coupled with learning aimed at imparting knowledge and understanding of the potential rewards for business establishment, unemployment abounds among the young: Hungra et al (2011). Brijlal (2011) asserts that only a small percentage of graduates became entrepreneurs after college.

In a bid to explain this phenomenon of poor transition rates into enterprise by graduates, numerous studies have been undertaken all over the world, with many focusing on entrepreneurial intention studies as a possible avenue for explanation of this lack of entrepreneurial behavior.  This focus has been so popular with researchers as intentions are said to be the best predictors of planned behavior.

As evidence in literature, the emphasis has been on studying entrepreneurial intent in ̒ ̒normal able-bodied persons. A clear-cut case of marginalization in academic research and knowledge against PWD in the society. This research seek to address the impact of entrepreneurial education on disabled students.

1.3     Purpose of Study

Overall, the purpose of this study is to help address a broad research question for which entrepreneurship education assessment literature has so far provided only tentative insight; whether and to what extent entrepreneurship training programs and studies help to create additional or more successful entrepreneurs. This includes:

  1. To examine the level of self employment activities among people with disabilities.
  2. To assess the challenges the disabled people face when starting a business/venture.
  3. To determine the extent to which policy support/tools on disabled are available to help them become more entrepreneurial.
  4. To ascertain the extent to which disabled students/persons benefits from entrepreneurial education.

1.4     Scope of Study

The study assessed the impact of entrepreneurial education on disabled students. The assessment was done by; the challenges faced by disabled students when starting a business, examining the level of self employment activities of people with disability, the extent to which policy tools on disabled are available and the benefits of entrepreneurial education to the disabled using Enugu metropolis as a case study.

1.5    Significance of the Study

In the introduction of Adam Smith’s world renowned book on economics, titled ‘The Wealth Of Nations’, by Alan Krueger (2003) , it is stated that the propensity to truck, barter and exchange one thing for another is common to all men, and is to be found in no other race of animals, from communistic societies to prisoner-of-war camps. Constraints can be imposed on a market, or even for the sake and purpose of this paper, disability can occur or be the case! But the rise of the market seems virtually unavoidable.

PWD in society have been marginalized long enough more so in academic research on matters of entrepreneurship. The subject of entrepreneurial intent has been researched on high and low, but empirically sound research on the same focusing on the disabled population is extremely hard to come by in literature.

Significantly, the findings of this study will aid shape the direction taken by governmental policy makers on coming up with curriculums and strategies in special needs schools which better address the entrepreneurial needs of PWD and better inform the economic empowerment programmers geared towards their emancipation by the state after college.

The research findings will also serve the parents or guardians of these students especially in guidance of career choice. Thus equipping them with foresight on how to prepare to be of best moral and material support to the soon to be granduands.

The findings will encourage teachers and students to develop skills and competencies in technologies for teaching and learning of entrepreneurship in schools. From the findings, it will further help teachers enhance their teaching skills and strategies. The teachers will use the results collected from the study to reform the content and method of teaching. The results of the study will also be of great importance to disabled students, it will improve their academic performances, job readiness, enhance their social psychological development (self-esteem, ego development, self-efficacy); and perceived improved health status etc.

Finally non state actors who are a crucial social economic development agents will benefit greatly from the findings of this study. Based on the same these actors can better formulate programmes and strategies on how to economically empower the students after college.

1.6    Research Questions

  1. What is the level of self-employment activities among people with disabilities?
  2. What barriers do people with disabilities face when starting a business/ venture?
  3. What are the policy tools/ support available to help those with disabilities become more entrepreneurial?
  4. What are the benefits of entrepreneurship for people with disabilities?

 

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COMPENSATION MANAGEMENT

THE EFFECT OF COMPENSATION MANAGEMENT ON ORGANIZATIONAL PERFORMANCE

ABSTRACT

The study deals with the investigation of the effect of compensation management in organizational performance: a case study of Copen Group. In today’s work environment, there is more change and uncertainty, there is increased need for empowered employees, there is decline in traditional incentives, there is rise of nontraditional incentives and there is increased use of variable compensation. In organization, compensation is usually narrowed to cash and as a result, employers only have a tunneled vision when it comes to the issues of compensation for their employees. In pursuit of the objectives, a survey research was carried out in the area and the population used for the study was obtained from Copen Group in Enugu. Sample size of 80 was determined using Taro Yamane’s statistical formula. Data were collected using questionnaire and interview and thereafter tables and statistical tools were used for presentation and analysis respectively. Findings of the study indicate revealed that employees’ level of job satisfaction is negatively affected by the fact that their remuneration is not commensurate with the tasks they perform and job security is not guaranteed. The study concludes that COPEN group is one of the vital sectors necessitating the growth and development of Nigerian economy, therefore, it is vital for organisations to embark on effective compensation management policies that will project and promote employees performance. Recommendation from the study states COPEN group should improve their compensation strategy and remuneration to boost employees’ dedication and commitment to efficiently deliver good customer service. This will improve the sector’s image

 

CHAPTER ONE

INTRODUCTION

1.1     Background of the Study

Compensation Management is one of the most complex and dynamic issues in organizational performance. For an organization to achieve its stated objectives, there is the need to effectively manage compensation, taken into cognizance one of the core aspect of resource management known as compensation management (Anyebe, 2003). The ability of a manager to achieve its stated objectives to a large extent depends on the effective implementation of compensational packages in order to motivate the subordinates and employees within and beyond their expectation. Compensation Management plays a crucial and functional role because it is the heart beat of human resource management. It is also vital to both employees and the employer (Begbie, Bussin, & Schurink, 2011). This is because employees typically depend on wages and salaries, and must be equivalent to the work done. However, to managers, compensation decisions influence the cost of doing business and thus, their ability to sell at a competitive price in the product market (Barry et al, 1995) It is an obvious fact that effective implementation of favorable compensation management will not only aid in stabilizing and retaining employees but also helps in reducing labour turnover within the organization. Employees’ compensation can be seen as all forms of financial returns and tangible benefits that employees receive as part of an employment relationship. It can be referred to as the totality of the financial and non-financial rewards an employee receives in return for his/her labor or services (Bernadin 2005).

Sola & Ajayi (2001) see compensation management as a process of establishing the structure of wages level for the various positions designing incentive systems, setting individual wages and incentives within the established structures. It is an integral part of human resources management that affects the performance of employees because it establishes the degree of relationship between employer and the employee. The manufacturing sector is one of the sectors responsible for the food and beverage industry. It is one of the sub-sectors of the manufacturing sector but responsible for the manufacturing of daily products, beverages, seasoning, convenience foods confectionaries and staple foods (Harrison, & Liska, 2008).

The turbulent management-labour crisis over continuous agitation for increased pay in the public services all over the world is challenging public sector organizations to utilize their employees more effectively to improve organizational performance (Hewitt, 2009). In Nigerian Civil Services, pay has become the driving force for seeking employment in the industry. It therefore becomes imperative that organizations establish and adopt a compensation system that can motivate employees to work while at the same time not eating too deep into the organization’s resources New Delhi (Chiang, & Birtch, (2008). Remuneration does not simply compensate employees procedures that will attain maximum return on Naira spent in Compensation is payment in the form of hourly wages or annual salary combined with benefits such as insurance, vacation, stock options, etc. that can positively or negatively affect an employee’s work performance. Compensation is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness (Danish & Usman, 2010).

Employees are pivotal to the achievement of organisational goal and enhancing the competitive advantage of the organisation in the global world and within the industry where the business firm is operating. Hence the leadership role of the employee’s in achieving this cannot be underestimated and to this done adequate measure must be put in place by the organisation through well managed compensation structure (Pearce, 2010). Therefore, compensation management as one of the fundamental functions of human resource department is meant to attract, retain, developed employees toward attaining organisational effectiveness, efficiency and competitive advantage in the globalised world (Adeoye, 2001; Tsai, 2005; Adeoye, Elegunde, Tijani & Oyedele, 2012).

Compensation management is a veritable instrument that affects the decision of job applicants and employees within the organisation. It has aided the firms to achieve their competitive edge over their competitors in the industry (Heneman & Judge, 2000; Ivancevich, 2004; Hyondong, 2006). Furthermore, a lot of monetary resources are invested on crafting, organising as well as administering organisational remuneration arrangement. Despite its vital contribution toward the success and development of the firm, scholars and even practitioners have lamented that there is a slow pace in the advancement of compensation research (Heneman & Judge, 2000; Kersley & Forth, 2005). In most recent times, the plan release cum adoption of reward management, have gone through a major shift that are dramatic in nature. This has reflected the motivational aspect in the employees’ leadership roles and performance (Heneman & Judge, 2000; Purcell et al., 2003).

In the context of organisational effectiveness, leadership roles cannot be underestimated and the critical existence of an organisation is largely anchored on the leadership that exists within the sphere of the firm. It is reiterated that the wire link between the vision, strategic direction and change of the organisation is leadership. Leadership has been in existence for as long as people on earth have co-existed and it is present in all the cultures (Rukmani et al., 2010; Fibuch, 2011). Bontis and Serenko (2009) and Ilies et al., (2006) viewed leadership from the managerial perspective and opined that managerial leadership is the grace to be able to encourage, arouse, mentally excite, propagate, anchor, visibly coordinates the organisational goals, and show good examples to subordinates. Articulate leaders must be ready to give feedbacks about the different aspects of the subordinates’ effort that may have positive result on self-efficacy, job satisfaction, and commitments of employees with focus on areas of improvement (Shea and Howell, 2009; Jawahar, 2006; Bontis & Serenko, 2009).

1.2     Statement of the Problem

In today’s work environment, there is more change and uncertainty, there is increased need for empowered employees, there is decline in traditional incentives, there is rise of nontraditional incentives and there is increased use of variable compensation. In organization, compensation is usually narrowed to cash and as a result, employers only have a tunneled vision when it comes to the issues of compensation for their employees. The company has also attempted to give attention to employee compensation strategies. However, employees themselves have failed to recognize the fact that their compensation is a package and not only related to cash. The byproduct of the above understanding of compensation strategy is that it is managed to a moderate extent and most of the time employee performance could be affected and vice versa. The study therefore sought to address this gap by investigating the effect of compensation management in organizational performance.

1.3     Objective of the Problem

The main objective guiding the study was to investigate the effect of compensation management in organizational performance: a case study of Copen Group

The specific objectives are:

1 to determine the extent at which compensation management affect employee’s performance in Copen Group 

2 To access the rate at which welfare services affect employee’s performances in Copen Group 

3 To explore relationship between compensation management and improved productivity in Copen Group 

4 To explore the relationship between compensation management and retirement of staff in Copen Group 

1.4     Research Questions

1 What is the extent at which compensation management affect employee’s performance in Copen Group?

2 what is the rate at which welfare services affect employee’s performances in Copen Group? 

3 what is the relationship between compensation management and improved productivity in Copen Group? 

4 what is the relationship between compensation management and retirement of staff in Copen Group? 

1.5     Hypothesis

Hypothesis One

Ho: Compensation management does not affect employee’s performance in Copen Group 

Hi: Compensation management affect employee’s performance in Copen Group 

Hypothesis Two

Ho: welfare services does not affect employee’s performances in Copen Group 

Hi: welfare services affect employee’s performances in Copen Group 

Hypothesis Three

Ho:  there is no significant relationship between compensation management and organization

Hi: there is a significant relationship between compensation management and organization

Hypothesis Four

Ho:  there is no significant relationship between compensation management and retirement benefits of staff

HI: there is a significant relationship between compensation management and retirement benefits of staff.

1.6     Scope of the Study

The study covers only Copen Services Limited which is articulated and organised firm with diversified interests in Real Estate, Construction, Services, and Consultancy.

Copen Services Limited is the fruit of the desire of a number of young, honest, knowledgeable and experienced professionals, with over 20 years cognate post-graduation/practical experience in public and private service, to pool together their resources for the service of humanity. 

1.7     Significance of the Study

Compensation management in organization is an important business approach because it can enhance a company’s ability to achieve the ultimate goal and gain competitive advantage over its competitors.

This study is important for organization, employees, academia and even government. Customers will have access to better and qualitative services from the organization. Employees can also have improved conditions of service due to better organizational performance. Organizations can gain in terms of superior performance. The research can also benefit the academia in terms of addition to knowledge.

1.8     Limitation of the Study

There always exist many constraints militating against a good research work. Among these limitations/ constraints include the unwillingness attitude of some individuals and civil servants to come up with relevant information, for some reasons best known to them.

Another constraint is that of reaching to the appropriate respondents. Most of our respondents do not reside where they can be easily reached and this posed a problem for the researcher.

Besides, some of the respondents subjected the researcher to some rigorous bureaucratic process thereby making it hard for the researcher to get some relevant information needed for the study and this also posed a limitation to the researcher.

However, despite these constraints, the research was successfully carried out through persistence and perseverance.

1.9     Definition of Operational Terms

Compensation: The process of concealing or offsetting a psychological difficulty by developing in another direction.

Management: the process of dealing with or controlling things or people

Organization: an organized group of people with a particular purpose, such as a business or government department.

Performance: the action or process of performing a task or function.

Business: A business is an organization or enterprising entity engaged in commercial, industrial or professional activities. A company transacts business activities through the production of a good, offering of a service or retailing of already manufactured products

Profit: a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something

Money: Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.

Productivity: the effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.

 

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