However, each city has its own history, marked by the way it extended and grew; thus it is not surprising to find cities that expanded and occupied new land even in periods in which the population was decreasing. As shown in Table 3, the results of the determination of ash content in terms of volume ranged 3 3 buy wood planer online india indian 1. The factors that contribute to the development of entrepreneurship would essentially be a suitable environment in grasping the essential facts. WWF International. Akpata, T. An innovating entrepreneur sees the opportunity for introducing a new technique or a new product or a new market.

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Can't find the buyers that meets your requirement exactly? Trade with Confidence. Free quotes from Sellers. Verified Connected Buyers. The nineteenth century was a fertile time for entrepreneurial activity because technological advances during the industrial revolution provided the impetus for continued inventions and innovations. Then, toward the end of the nineteen century, the concept of entrepreneurship changed slightly again to distinguish between those who supplied funds and earned interest and those who profited from entrepreneurial abilities.

During the early part of the twentieth century, entrepreneurship was still believed to be distinct and different from the management of organizations. However, in the mids the concept of entrepreneurship expanded. Schumpeter believed that through the process of creative destruction, old and outdated approaches and products were replaced with better ones. Through the destruction of the old came the creation of the new.

He also believed that entrepreneurs were the driving forces behind this process of creative destruction. They were the ones who took the breakthrough ideas and innovations into the marketplace.

As our earlier definition of entrepreneurship showed, the concepts of innovation and uniqueness are and always have been integral parts of entrepreneurial activity. What his perspective added to the concept of entrepreneurship is that entrepreneurs recognize and act on opportunities.

Its history is still being written today. In the early years of the twenty-first century, researchers continue to study entrepreneurs and entrepreneurship. Although no generally accepted theory of entrepreneurship has emerged from these studies.

Yet the concept of entrepreneurship is not clear. As the concept of entrepreneurship is complex in its content, it is influenced by not only economical aspects, but also by sociological, psychological, ethical, religious and cultural values. Over the years the social scientists have interpreted the phenomenon of entrepreneurship differently in accordance with their perception and economic environment. We can identify five stages in the evolution of Entrepreneurship as shown in figure 2.

Entrepreneurs was looked as adventurer Entrepreneurship Second Stage was looked as speculative activity It this stage Entrepreneurship Thrid Stage was looked as co-ordinator of protective resources Entrepreneurship was more inclined towards innovative and creative practices Entrepreneurship become an act of Fifth Stage visionary leaders, high achievers towards social decision making Figure 2.

These opinions may be classified into three categories: A. The term entrepreneur seems to have been introduced into economics by Cantillon, but the entrepreneur was first accorded prominence by Say. Economic incentives are the main drive for the entrepreneurial activities. They firmly believe that a well development market and efficient economic policies foster entrepreneurship a big way. Papanek and J. Harris are the main advocates of this theory.

According to them, economic incentives are the main drive for the entrepreneurial activities. In some cases, it not so evident, but the persons inner drives have always been associated with economic gains.

Therefore, these incentives and gains are regards as the sufficient conditions for the emergence of industrial entrepreneurship. When an individual recognizes that the market for a product or service is out of equilibrium, he may purchase or produce at the prevailing price and sell to those who are prepared to but at the highest price.

Lack of entrepreneurship is due to various kinds of market imperfections and inefficient economic policies. Sociologists argue that entrepreneurship is most likely to emerge under a specific social culture. According to them social sanctions, cultural values and role expectations are responsible for the emergence of entrepreneurship. Social-cultural values channel economic action that gives birth to entrepreneurship. The theories of Weber and Cocharan in this context are mainly sociological in nature and worth mention.

His performance depends upon his own attitudes towards his occupation, the role expectations of sanctioning groups and the occupational requirements of the job. It is these beliefs, which generate a drive for entrepreneurial growth.

Hoselitz suggests that culturally marginal groups promote entrepreneurship and economic development. Such groups, because of their ambiguous position are peculiarly suited to make creative adjustments and thereby develop genuine innovations.

In several countries entrepreneurs have emerged from particular socio-economic class. According to Stokes socio-cultural values channel economic action. Among those who have stressed on the psychological aspects as contributing to entrepreneurial success are Joseph Schumpeter, McClelland, Hagen and Kunkal.

The main focus of these theories is as follows: Schumpeter believes that entrepreneurs are primarily motivated by an atavistic will to power, will to found a private kingdom or will to conquer. According to McClelland it is the high need for achievement which drives people towards entrepreneurial activities. This achievement motive is inculcated through child rearing practices, which stress standards of excellence, material warmth, self-reliance training and low father dominance.

Individuals with high achievement motive tend to take keen interest in situations of high rest, desire for responsibility and a desire for a concrete measure of task performance. Hagen considers withdrawal of status respect as the trigger mechanism for changes is personality formation. Behavioural patterns in this model are determined by reinforcing and aversive stimuli present in the social context. Hence, entrepreneurial behaviour is a function of the surrounding social structure both past and present and can be- readily influenced by the manipulative economic and social incentives.

According to Psychologists, entrepreneurship is most likely to emerge when a society has sufficient supply of individuals possessing particular psychological characteristics. Each of the above view point is incomplete and none of them is right or wrong.

Entrepreneurship is influenced by a multitude factors and, therefore, no single factor by itself can generate entrepreneurship. Thus, entrepreneurship is the outcome of complex and varying combination of socio-economic, psychological and other factors. Mean while lets try to understand the following theories of entrepreneurship propounded by the different eminent social thinkers: 1.

Innovation Theory of Schumpeter 2. Need for Achievement Theory of McClelland 3. Risk Bearing Theory of knight. Theory of Change in Group Level Pattern 9. Economic Theory of Entrepreneurship Exposure Theory of Entrepreneurship. Political System Theory for Entrepreneurial Growth. Innovation Theory of Schumpeter: A dynamic theory of entrepreneurship was first advocated by Schumpeter who considered entrepreneurship as the catalyst that disrupts the stationary circular flow of the economy and thereby initiates and sustains the process of development.

An innovator who brings new products or services into economy is given the status of an entrepreneur. Schumpeter is the first major theorist to put the human agent at the centre of the process of economic development. He is very explicit about the economic function of the entrepreneur. The entrepreneur is the prime mover in economic development; his function, to innovate or carry out new combinations.

Schumpeter makes a distinction between an innovator and an inventor. An inventor discovers new methods and new materials. On the contrary, an innovator is one who utilises or applies inventions and discoveries in order to make new combinations. An inventor is concerned with his technical work of invention whereas an entrepreneur converts the technical work into economic performance.

An innovator is more than an inventor because he does not only originate as the inventor does but goes much farther in exploiting the invention commercially. The factors that contribute to the development of entrepreneurship would essentially be a suitable environment in grasping the essential facts. The entrepreneur has been the prime mover - for economic development process. On the criticism side, this theory seems one-sided as it puts too much emphasis on innovative functions.

It ignores the risk taking and organizing aspects of entrepreneurship. An entrepreneur has not only to innovate but also assemble the resources and put them to optimum use. While stressing upon the innovative function of the entrepreneur, Schumpeter ignored the risk-taking function, which is equally important.

When an entrepreneur develops a new combination of factors of production, there is enough risk involved. It is the act that endows resources with a new capacity to create wealth.

It endows it with economic value. The transformation of an agrarian economy into an industrial economy required a great deal of initiative and changes on the part of businessmen and managers. Need for Achievement Theory of McClelland: According to McClelland the characteristics of entrepreneur has two features - first doing things in a new and better way and second decision making under uncertainty.

McClelland emphasises achievement orientation as most important factor for entrepreneurs. Individuals with high. Profit and incentives are merely yardsticks of measurement of success of entrepreneurs with high achievement orientation. People with high achievement N-Ach are not influenced by money rewards as compared to people with low achievement.

The latter types are prepared to work harder for money or such other external incentives. On the contrary, profit is merely a measure of success and competency for people with high achievement need.

Professor David McClelland, in his book The Achieving Society, has propounded a theory based on his research that entrepreneurship ultimately depends on motivation. It is the need for achievement N-Ach , the sense of doing and getting things done, that promote entrepreneurship. A drive to excel, advance and grow. A drive to dominate or influence others and situations. A drive for friendly and close inter-personal relationships.

McClelland found that certain societies tended to produce a large percentage of people with high achievement. He pointed out that individuals, indeed whole societies that possess N-ach will have higher levels of economic well-being than those that do not.

The individual with high levels of need achievement is a potential entrepreneur. The specific characteristics of a high achiever entrepreneur can be summarized as follows: i They set moderate realistic and attainable goals for them. According to McClelland, motivation, abilities and congenial environment, all combine to promote entrepreneurship. Since entrepreneurial motivation and abilities are long run sociological issues; he opined it is better to make political, Social and economic environments congenial for the growth of entrepreneurship in underdeveloped and developing countries.

Basically, X-efficiency is the degree of inefficiency in the use of resources within the firm: it measures the extent to which the firm fails to realise its productive potential.

According to Leibenstein, When an input is not used effectively the difference between the actual output and the maximum output attributable to that input is a measure of the degree of X-efficiency. These functions arise from the basic assumptions of X-efficiency theory.

To put the enterprise in motion, the entrepreneur should fill enough of gaps. The role of the entrepreneur is to improve the flow of information in the market. For using there unusual skills, he gets profits as well as a variety of non-peculiar advantages. According to him there are two types of entrepreneurship. It includes the activities necessary to create an enterprise where not all the markets are well-established or clearly defined.

Risk Bearing Theory of Knight: A key element of entrepreneurship is risk bearing. Knight and John Staurt Mill saw risk-bearing as the important function of entrepreneurs. Some important features of this theory are as follows: 1. Risk creates Profit: According to the risk-bearing theory, the entrepreneur earns profits because he undertakes risks. More Risk More Gain: The degree of risk varies in different industries.

Entrepreneurs undertake different degrees of risk according to their ability ad inclination. The risk theory proposes that the more risky the nature of business, the greater must be the profit earned by it. Profit as Reward and Cost: Profit is the reward of entrepreneur for assuming risks.

Hence, it is also treated as a part of the normal cost of production. A priori reasoning is simply irrelevant to economic situation involving a unique event. This theory summarizes that profit is the reward of an entrepreneur effort which arises for bearing non- insurable risks and uncertainties and the amount of profit earned depends upon the degree of uncertainty bearing.

Consolidation is to uncertainty is what insurance is to risk; it is a method of reducing total uncertainty by pooling individual instance.

The elasticity of the supply of self confidence is the single most important determinant of the level of profit and the number of entrepreneurs. According to Weber some religions have basic beliefs to earn and acquire money and some have less of it. The spirit of capitalism will be generated when mental attitude in the society is favourable to capitalism. According to Max Weber, driving entrepreneurial energies are generated by the adoption of exogenously-supplied religious beliefs.

It is these beliefs which produce intensive exertion in occupational pursuits, the systematic ordering of means to ends, and the accumulation of assets. His theory suggests the belief systems of Hinduism, Buddhism ad Islam do not encourage entrepreneurship.

His stand has been challenged by many sociologists. But it has been criticised by subsequent researchers. The theory is based on the invalid assumptions, which are: a There is a single system of Hindu value, b The Indian community internalised those values and translated them to day-to-day behaviour, and c These values remained immune to and insulated against external pressures and change. But this view is not accepted universally. Hoselitz argued that Protestant could not develop industries in France because they were not given political security.

Hagen has attributed the withdrawal of status respect of a group to genesis of entrepreneurship. Hagen considers the withdrawal of status, of respect, as the trigger mechanism for changes in personality formation. Status withdrawal occurs when members of some social group perceive that their purposes and values in life are not respected by the groups in the society they respect, and whose esteem they value.

Hagen further postulates that withdrawal of status respect would give to four possible reactions and create four different personality types: a Retreatist: Entrepreneur who continues to work in society but remains indifferent to his work or status.

According to Hagen , the creativity of a disadvantaged minority group is the main source of entrepreneurship. He developed this thesis from the case of the samurai community of Japan. Traditionally, this community had enjoyed a high status of which it was deprived later. To regain this lost prestige, it became more active and vigorous and gave rise to many entrepreneurs. McClelland supported this thesis by admitting that a suppressed community had more creativity.

He said that Jains could be successful entrepreneurs because of their consciousness of their majority and superiority complexes. He stated that the subordination of minority group could arouse achievement motivation in its members but its extent depended upon the initial level of motivation and the means available to the group to active its achievement motivations. His performance is influenced by the factors of his own attitudes towards his occupation, the role expectations held by sanctioning groups, and the operational requirements of the job.

Changes over time in such variables as population, technology, and institutional drift willimpinge on the role structure by creating new operational needs. In most countries, entrepreneurs have emerged from a particular socio-economic class.

The Protestant ethic of the West is said to have contributed to the emergence of a new class of industrialists. It can be noted that various communities and castes like samurai in Japan, family pattern in France, Yoruba in Nigeria, Kikuya in Kenya, Christians in Lebanon, Halai Memon industrialists in Pakistan, Parsees, Marwaries and Gujaratis in India have been the sources of entrepreneurship.

Theory of Change in Group Level Pattern: Young defines entrepreneurs as that the entrepreneur characteristics are found in small groups wherein individuals develop as entrepreneurs.

Young arrived at the group level pattern behaviour entrepreneurs based on his studies known as Thematic Appreciation Test TAT on groups of entrepreneurs. Economic Theory of Entrepreneurship Many economists revealed that entrepreneurship and economic growth will take place in those circumstances where particular economic conditions are in favour of the business environment. The main advocates of this theory were Papanek and Harris.

According to them economic incentives are the main forces for entrepreneurial activities in any country. There are a lot of economic factors which promote or demote entrepreneurship in a country.

These factors are: a The availability of bank credit b High capital formation with a good flow of savings and investments c Supply for loanable funds with a lower rate of interest. Some scholars have tried to explain the growth of entrepreneurship in terms of regional economic factors, e. This analysis revealed that Gujarat had environment favourable to business and industry. Thus, it can be concluded that the industrial climate may have a very significant impact on the response of entrepreneurs.

However, the group factors, as emphasized by various studies, cannot be ignored altogether. Exposure Theory of Entrepreneurship: Many studies have shown that it is the exposure to new ideas and opportunities towards creativity ad innovation which leads to create a new venture. There is adequate empirical evidence to prove its validity. Education have played very significant role in exposing the Indian entrepreneurs to Western ideas leading them to entrepreneurship. It is also the differential responses of the social groups to opportunities provided by the commitment of the political system to industrialisation that has led the process of entrepreneurial spread.

This concept is illustrated in Figure 2. Political System Theory of Entrepreneurial Growth: Political system can crate adequate infrastructure, favourable laws, favourable taxation system and procedures, provide incentives and subsides, security to entrepreneurs, create promoting policies and can encourage people towards entrepreneurship. Government can also build supporting system for potential entrepreneurs.

Thus, the commitment of political system can contribute significantly towards entrepreneurial development. Also, there was no colonial disruption. But before it did not flourish because the creative ability of masses could not Buy Wood Planer Online Learning find expression. Hoselitz argued that France lagged behind entrepreneurially, because his political system did not provide sufficient incentives and security to entrepreneurs. As you can see from this data, the highest levels of entrepreneurial activity were found in five countries Australia, Canada, Korea, Norway, and the United States.

Average levels of entrepreneurial activity were found in 14 countries and the lowest levels of entrepreneurial activity were found in two countries — France and Japan. Table 2. The future of entrepreneurship is bright in developing countries. Government organisations are helping entrepreneurs by building infrastructure such as readymade Industrial sheds buildings, training facilities, roads communication, loan for new projects, working capital loans.

The governments have understood the potential of new units in creating new jobs, new markets and growth of economy. Governments in developing countries are encouraging collaborations and joint venture and. Growth of few industries is planned to take advantage of available resources and channelizing efforts in new growth markets.

The second important theory of entrepreneurship is written by McClelland as a function of achievement that is doing things in a better way and taking critical decisions in a new enterprise.

From the above theories we can see that Schumpeter and McClelland have given primary importance to the individual. While Schumpeter has stressed on innovativeness or creativity of the individual as an important determinant for entrepreneurship, McClelland stresses more on the internal factors, specifically, the need for achievement.

Like Weber and McClelland, Cochran also speaks in different terms but explicitly, of cultural values and social structure which include role expectations and social sanction as playing a vital role in economic development. As observed, every theorist has looked at the entrepreneur and entrepreneurship on the basis of his perception, and therefore, can, at best, provide only a limited view of entrepreneurial phenomenon. No view is right or wrong, or more or less; in fact, the various factors which cause the emergence of entrepreneurship are integral and not additive.

They care interlocking, mutually dependent and usually reinforcing. As a conclusion, it can be said that entrepreneurship, is the outcome of a complex and varying combinations of socio-economic, psychological and other factors. A realistic perspective should take them together. Each of the entrepreneurship theories discussed are inter-disciplinary and are influenced by a multitude of factors. It is the integration of external environment, dream, ambition, passion, achievement, motivation, commitment, integrity, zeal, honesty, sincerity, ability and hard work which largely determine whether an individual become an entrepreneur or not.

Define Entrepreneurship and put a light on historical perspective of Entrepreneurship. How emergence or evolution of entrepreneurship took plate? Explain in Detail. What are entrepreneurship theories of innovation and a function of high achievement? What is the Risk-bearing theory of Entrepreneurship propounded by Knight? Explain in detail. Explain and evaluate the Innovation theory of Schumpeter. Analyse the Economic Theory of Entrepreneurship.

Enunciate the X-efficiency Theory of Leibenstein. Explain and evaluate theory of change in group level pattern. What is Max Weberian Model of Entrepreneurship? Also evaluate it. Explain the Political System Theory of Entrepreneurship. These are the by-words of business, the latest fashion in the fashionable world of business education. The world is rapidly changing; we should be able to change our attitudes and approaches accordingly.

Process of development includes creation of appropriate infrastructure and setting up and management of public utilities. Similarly, application of modern scientific techniques in agriculture has become imperative for providing a sound base for a more rapid growth of employment and incomes.

There is also a need for rapid growth of distributed industries in a multi-directional way. Apart from land, labour and capital, there is greater need for entrepreneurs to strive for growth on an ongoing basis. In fact, entrepreneurs are the builders of a nation and creators of humanity by their innovative vision, dynamic leadership and creative decisionbehaviour.

Entrepreneur is the central figure of economic activity and motivator of development. They are often said to embody many ephemeral qualities - freedom of spirit, creativity, vision, zeal. Like Dhiru Bhai Ambani, they have the courage and self-belief to turn their dreams into realities.

They see an opportunity, commercialise it and in the process create jobs from which the rest of society benefits. Indian entrepreneurs will have, therefore, to draw up their futuristic vision by way of redefining their purpose and mission and resetting their attainable objectives, and developing long-term strategy against thebackground of emerging opportunities and impending threats inherent in domestic and global environments on the one hand and competencies and weaknesses, on the other.

What is entrepreneurship? What is an entrepreneurial career path? These frequently asked questions reflect the increased national and international interest in entrepreneurs. On the other hand, increased academic interest in the entrepreneurship is bringing a sharper focus on the subject. In spite of all this interest, a concise, universally accepted definition has not yet emerged.

This definition emphasises that entrepreneurs exercise a high degree of initiative and are willing to take a high degree of risk. In the 18th century, the term included individuals, who brought in capital to carry out the business activities rather than using the capital provided by others. In other words entrepreneurs create value by exploiting some form of change, for example in technology, materials, prices or demographics.

We call this process innovation and this is an essential tool for entrepreneurs. Entrepreneurs, therefore, create new demand or find new ways of exploiting existing markets. They identify a commercial opportunity and then exploit it. The entrepreneur will have confidence in their own ability of analysing and solving.

According to Francis A. He should be pioneer, a captain of industry. McClelland also suggests that an entrepreneur is not characterised by routine tasks which are managed by usual managers and situations of high risks such as gambling or betting. The entrepreneur exhibits a desire to take personal responsibilities for decisions preference for moderate risks and interest in concrete knowledge of business and the possible outcomes. It is capable of being presented as a discipline, capable of being learned and practised.

Enthusiasm is the yeast that makes his hopes rise to the stars. Enthusiasm is the spark in his eye, the swing in his gait, the grip of his hand, the irresistible surge of his will and his energy to execute his ideas.

Everett E. He is a person who has high need achievement and feels a sense of increased pleasure when he faces a problem. Although there are many definitions of leadership, the one that best describes the needed entrepreneurial leadership is: A leader is like a gardener. Whoever concentrates on this is rendering a much more important service to his country than the man who uses huge capital. Inherent in this definition is the idea that the entrepreneur is not just the person who identifies the opportunities that are the basis for pursuing and initiating the entrepreneurial venture, but is also that person who operates the entrepreneurial venture.

All the four elements are inter-related and form a continuous process in business. They do this by shifting economic resources from an area of lower productivity into an area of higher productivity and greater yield, accepting a high degree of risk and uncertainty in doing so.

Yet each definitionis somewhat restrictive, since entrepreneurs are found in all professions—education, medicine, research, law, architecture, engineering, social work, and distribution. An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying significant opportunities and assembling the necessary resources to capitalize on them.

Although many people come up with great business ideas, most of them never act on their ideas but Entrepreneurs do. The process of creative destruction, in which entrepreneurs create new ideas and new businesses that make existing ones obsolete, is a sign of a vibrant economy. Entrepreneurs can create value in a number of ways inventing new products and services, developing new technology, discovering new knowledge, improving existing products or services, finding different ways of providing more goods and services with fewer resources, and many others.

He is a person with a dream, originality and daring, who acts as the boss, who decides as to how the commercial organisation shall run, who coordinates all activities or other factors of production, who anticipates the future trend of demand and prices of products. Due to above reasons in modem times, the role of an entrepreneur is recognised as an important factor of production for every business organisation. Economists have identified entrepreneurship is the essential element in generating investment opportunities in an economy.

In almost all of the definitions of entrepreneurship, there is agreement that we are talking about a kind of behaviour that includes: 1 initiative taking, 2 the organizing and reorganizing of social and economic mechanisms to turn resources and situations to practical account, 3 the acceptance of risk or failure.

To an economist, an entrepreneur is one who brings resources, labour, materials, and other assets into combinations that make their value greater than before, and also one who introduces changes, innovations, and a new order. Entrepreneurship is the dynamic process of creating incremental wealth. Entrepreneurs achieve success by creating value in the marketplace when they combine resources in new and different ways to gain a competitive edge over rivals.

Table 3. Sources: H. Aldrich and M. What makes the entrepreneurs successful? Whether they had anything common in their personal characteristics? The scanning of their personal characteristics shows that there are certain characteristics of entrepreneurs which are found usually prominent in them.

These so-called entrepreneurial characteristics can be looked at to deter-mine a set of skills useful for an entrepreneur to possess. It is unlikely that all these skills will be present in sufficient measure in all potential entrepreneurs. For example: some people may have the creative talent to generate new ideas but lack the ability to organize resources, and others may have a compelling need to achieve but lack the resourcefulness to create a new venture.

Others with a majority of the traits may start new businesses and fail. It is prudent for the entrepreneur to take stock of what might be lacking and acquire those skills through training. For example, analytical ability and computational skill can be enhanced by education at school and university, while practical knowledge and foresight skills can be enhanced by the general experience of everyday life.

A true entrepreneur besides possessing functional qualities must also possess a broad personality which helps in developing initiative and drive to accomplish great tasks and face challenges squarely. For example, Tata, Birla, Modi, Dalmia, Kirlosker, Bajaj, Mittal and others are well- known names of successful entrepreneurs in the country who started their business enterprises with small size and made good fortunes.

Would you be apt to describe their demographic profile or their personality characteristics? Or might you focus more on their intention to be entrepreneurs that is, what made them want to be entrepreneurs? Each of these approaches has been used to describe entrepreneurs.

Some of the more popular demographic factors that have been studied include Family birth order Studies have shown that firstborn children tend to seek out more responsibility and be high achievers, which researchers say is likely to correlate with being an entrepreneur. A related stream of research examines how individual demographic and cultural backgrounds affect the chances that a person will become an entrepreneur and be successful at the task.

Considerable research has been dedicated to the task of identifying the traits and characteristics of the typical entrepreneur. According to John Hornaday the characteristics of successful entrepreneurs are described below: Table 3. McClelland found that entrepreneurs had a higher need for achievement than non-entrepreneurs. Surprisingly, he also concluded that contrary to the popular opinion, entrepreneurs were only moderate risk takers.

Although it seems logical to look at personality and socio-cultural variables to determine the likelihood of entrepreneurial success, studies based on these premises have been able to explain only a small percentage of entrepreneurial successes and failures. The characteristics or features or nature or qualities of entrepreneur as an individual are essential to contribute to the success of an enterprise. An entrepreneur possesses the following characteristics: 1.

Innovator: Within the constraints of available resources that society or a nation offers, entrepreneurs make the best use of them. Entrepreneurs have a creative vision to recognise a business opportunity. An entrepreneur should have creative thinking and be able to engage in the analysis of various problems and situations in order to deal with them.

He creates new demands and new aspirations and new methods to fulfil them. Entrepreneur should anticipate changes and must be able to study various situations in which decisions may have to be made. Motivation towards Achievement: A successful entrepreneur should have a strong motivation towards the achievement of a task and must be able to exert considerable efforts in getting things done by others.

He has strong urge to achieve. He has a more aggressive level of entrepreneurial venturing, and need achievement.

Ability to Handle Uncertainty: The ability to handle uncertainty is critical because these business builders constantly make decisions using new, sometimes conflicting information gleaned from a variety of unfamiliar sources.

Moderate Risk Taker: Entrepreneurs are not wild risk takers but are instead calculating risk takers. Entrepreneurs prepare themselves to anticipate problems, create ways to share those problems with suppliers, creditors etc. In other words, successful entrepreneurs are not as much risk takers as they are risk eliminators, removing as many obstacles to the successful launch of their ventures as possible.

Skill for Organizing: A true entrepreneur is one who has the ability to mobilise resources in the best possible manner for achieving the business objectives.

Entrepreneurs know how to put the right people together to accomplish a task. Effectively combining people and jobs enables entrepreneurs to transform their vision into reality.

Goal Oriented: Entrepreneurs are highly goal-oriented and specifically aim at producing goods and services that represent unmet needs of consumers.

Entrepreneur is planer and doer, dreamer and action-taker. He implements what he visualises. An entrepreneur must be able to set realistic but challenging goals for him as well as for others in the organisation. Desire for Responsibility: Entrepreneurs feel a deep sense of personal responsibility for the outcome of ventures they start.

They prefer to be in control of their resources, and they use those resources to achieve self-determined goals. Emotional Stability and Self-control: Emotional health is a must for entrepreneurs to meet the challenges of exploiting a new business opportunity.

Successful entrepreneurs believe in control being exercised from within. They believe in imposing control on themselves and their enterprises rather than leaving their success to fate. Communication Ability: This ability pertains to communicate effectively.

As a leader an entrepreneur communicates effectively with all concerned such as financiers, employees, customers, suppliers, creditors and all who are concerned with the new enterprise. Future Orientation: Entrepreneurs look ahead and are less concerned with what they did yesterday than with what they might do tomorrow. Not satisfied to sit back and revel in their success, real entrepreneurs stay focused on the future. Whereas traditional managers are concerned with managing available resources, entrepreneurs are more interested in spotting and capitalizing on opportunities.

Commitment and Dedication: Entrepreneurs must work with dedication and commitment to launch successful business enterprises. The commitment from the entrepreneur for longer period may be 5 to 10 years is necessary for conceptualisation, building and running an enterprise. Entrepreneurship is hard work, and launching a company successfully requires total commitment from an entrepreneur.

Most entrepreneurs have to overcome seemingly insurmountable barriers to launch a company and to keep it growing. That requires commitment. High Level of Energy: Entrepreneurs are more energetic than the average person. Managing resources and running an enterprise calls for long hours of work for longer period of time and hence an entrepreneur is a man of high energy level. Flexibility: One hallmark of true entrepreneurs is their ability to adapt to the changing demands of their customers and their businesses.

In this rapidly changing global economy, rigidity often leads to failure. As our society, its people, and their tastes change, entrepreneurs also must be willing to adapt their business to meet those changes. Evaluation of the composition and Chemistry of ash and potash from various plant materials — a review. Journal of Applied Sciences. Baker, D. Techniques for rapid analyses of corn leaves for eleven elements.

Journal 56, pp. Campbell, A. Recycling and disposing of wood ash. Tappi 73 9 , pp. A 2a Powder Bulk Density. West African Crops. Oxford University Press. Caveman Chemistry. Retrieved from www. Factors affecting the lixiviation of palm bunch ash as a source of alkali for soap production. Ife Journal of Technology.

Manhendra, K. Wood ash composition as a function of furnace temperature. Biomass and Bioenergy, 4 2 , pp. Practical Environmental Analysis. Misra, M. Wood Miroslav, R. Plant ash composition as a function of furnace temperature. Biomass and Bioenergy 4 2 , Chemical processing development. Nwoko, V. Effects of mixing oil on the preparation and properties of soap.

Private Communications. Ojokuku, G. Practical Chemistry for Schools and Colleges. Onyegbado, C. Solid soap production using plantain peels ash as source of alkali. Journal of Applied Sciences and Environmental Management. Onyekwere, C. Cassava peels ash: an alternative source of alkali in soap production. Shelton, J. The wood BurnersEncyclopedia. Vermont Crossroads Press, Waitfield. Taiwo, O. Evaluation of various agro-wastes for traditional soap production. Tarun, R. Use of wood ash in cement-based materials.

Wikipedia, the free Encyclopedia, K and Adeboye, A. B Covenant University Ota, Nigeria. Estimated costs of building projects, which hitherto have been based on regression models, are usually left with gaps for high margin of errors and as well, they lack the capacity to accommodate certain intervening variables as construction works progress.

Data of past construction projects of the past 2 years were adjusted and used for the study. This model is developed and tested as a predictive cost model for building projects based on Artificial Neural Networks ANNs. This model will help professionals save time, make more realistic decisions, and help avoid underestimating and overestimating of project costs, which are some of the advantages over previously used Regression models.

Poor cost forecasting approach will lead to underestimating or overestimating and consequently cost overrun. Project abandonment as a result of cost overrun arising from poor cost forecasting approach, is an interesting phenomenon locally as well as globally. This phenomenon has led to various stakeholders in built environment to be aware of importance of accurate project cost right from conceptual stage of building project as well as throughout the life cycle of the project work.

The awareness of working with accurate cost has thus created a trend among various clients including private, corporate, as well as public clients government , that prudency in resources allocation is a great necessity for successful execution of project works.

This development led to the advent of forecasting project cost so as to generate project cost information which reveals what the value of a project cost could be in future. However, in providing project cost information, cost estimator often resort to using traditional approach, recent developments on the other hand has proven the fact that traditional approach, which uses historical methods do not tend to capture the details of project works cost components, as well as intervening variables that impacts the cost magnitude.

The cube method was the first recorded forecasting method; this was invented about years ago, floor area approach was developed around Skitmore et al ,some researchers later developed storey enclosure method on , which provides better result over the previously developed cube and floor area, certain variables were identified and incorporated into the model other than those used in the past, like floor areas vertical positioning, storey heights, building shape and presence of basement.

However in the mids, researchers started deploying statistical techniques cost modeling, through these, conventional methods evolved, such as approximate quantities and optimization. Peculiar to the research work in this era is possibility of demonstrating the applicability of the developed models, as a result of seemingly non applicable nature of model generated.

The result of the analysis indicates high level of accuracy in the output obtained from the neural network model. The model when developed will be simple to use. It is believed that the model will be suitable for use at different stages project work.

O; OjO, and Obamiro, J. Pp Brandon, A. The Royal Institution of chartered surveyors, London. Bouabaz M and Hamami, M. American Journal of Applied Sciences.

PP56 — Copeland, J and Proudfoot, A Creese, R. Ferry, D. J; Bandon, P. S Cost Planning of Building. Blackwell th Science Limited.

Garza, J and Rouhana, K. Neural Networks Versus Parameter based Application. Y; Shanker, M. Anals of Operations research, 87, PP — John, F. D, Smith, P and David, J Cost planning of building, Seventh Edition, Blackwell science, Oxford. Iowa State Press. Third Edition, Blackwell Publishing Company. United State of America. Moore C. F; Lees, T.

Rics paper series. Morantz, B. H; Whalen, T. Rafiq M. U, Bugman G, Easterbrook D. Compustruct, 79, Skitmore, R. M, and Ng, S. Walczak S. Journal of Managements Information System, 17 4 , William, T. In Topping, B. It is also an oil rich nation with diversity of ecosystems.

The country is committed to the principle of sustainable development by adopting environmental protection policy. The paper through historical approach traces the environmental policy development in the country. It identifies the policy strategies designed in support of sustainable development.

It reckoned that policy impediments are hindrances to environmental sustainability. The environment could be looked at as the basis for man existence. The misuse or misappropriation of the constituents of the environment could hamper the health, socio-economy and peace of a nation. This may leads to state or national security. Thus, it is essential that man should design a way for its sustainability.

This can only be achieved through formulation and development of adequate and dynamic environmental protection policy which will engender environmental sustainability. The Environmental Sustainability as an off shoot of the Principle of Sustainable Development emphasizes the need to meet the needs and aspiration of the present without compromising the needs of the future WECD, It can only be midwife by the nation with the support of its citizenry.

Sustainable development entails the harmonization of population growth with utilization and exploitation of natural resources through redirection and reorientation of research and development as well as institutional changes UN-ECA, Environmental Policy formulation, adoption and implementation are generally developing concepts that came about in the late These concepts are still evolving in developing economy like Nigeria when they claimed to be put into force.

Whereas compared to the Western world this policy concepts are given expression yielding encouraging results. This paper shall examine the historical development of environmental policy in Nigeria and also identifies the problems of its implementation. The paper at the end will recommend appropriate strategies that will encourage environmental sustainability in Nigeria. Conclusion The paper identifies that Nigeria support the principle of sustainable development by adopting environmental policy that is off shoot of Agenda It realized the impediments to environmental sustainability in policy adoption, policy harmonization, merging of agencies, monitoring and enforcement and institutional capacity.

It also surmised that sustainable policy should not be borrowed but expectedly builds and designed at home. The paper recommends the need for capacity building as an essential instrument in environmental policy development. It suggests integrated approach for policy formulation, adoption and implementation. This is because workable environmental policy is expected to involve state actors and non state actors. Herbert-Copley ed. UNU Press. FEPA, undateda. National Guidelines on Environmental auditing.

Federal Environmental Protection Agency. Assessed September 15, Oni, I. Umeh, L. C and Uchegbu, S. Principles and Procedures of Environmental Impact Assessment. United Nations Economy for Africa. B Ijebu-Igbo, Ogun State. Ni geria. The result of physiochemical and microbiological tests carried out on fish and sixteen water samples taken from Iddo in Apapa Local Government of Lagos State, Nigeria revealed pollution.

E,coli, Proteus sp. Finally, conclusion was drawn with the recommendation that sewage should be treated prior to discharge into any sphere of the environment. Its generation and efficient management facilitate social, economic and biological development.

Amount of waste generated keep soaring as a result of increasing urban population and consequent rapid urbanization, which, in-turn presents greater challenges for disposal and management. The problem is even worst with respect to non-solid wastes since no city in Nigeria has a sewage system worth its name Lagos State Ministry of Economic Planning and Budget The concern of this research is on excreta waste being discharged into the Lagos lagoon in relation to the impact on the lagoon ecosystem.

Excreta contain enteric organisms such as Klebsiella spp. Lagoon contains brackish water water that is slightly salty.

Out of three hundred and thirty two fish species belonging to the three categories of fish indicated above, seventy-nine 79 species have been identified in the Lagos lagoon. This is a vindication that Lagos lagoon provides substantial quantity of aquatic foods in the sub-region; however, mutilating its physico-chemical and biological structure portends significant socio-economic and health implications. Lagos lagoon is being polluted in its entirety of because one anthropogenic activity or the other that takes place at the littoral areas due to population pressure.

However some points are more populated and received more pollutants than others receives. In these two areas, there are excess organic nutrients, because raw human faeces are discharged into the lagoon without treatment. Thus, deterioration of the quality of water ensues and all signs of water pollution are obvious.

The raw faecal effluent present in the lagoon is oxygen demanding, it can only be decomposed by aerobic oxygen-requiring bacteria. The presence of these bacteria in large number perhaps to detoxify excreta waste degenerate water quality by reducing the quantity of oxygen, and therefore, leading to massive demise of aquatic animals. Untreated excreta wastes contain myriads of disease-causing agents pathogens which include bacteria, viruses, protozoa, and parasitic worms that eventually get to biological system of fish and other aquatic animals consumable by man.

Through this process feacal-oral diseases are transferred to man unfettered. WHO, declared that four million infants and adults die every year from diarrhea diseases, largely as a result of contaminated food or water. Akpata and Ekundayo , Helasi-kun , cited in Ajayi and Akonai asserted that the discharge of raw sewage into the lagoon has important health implications. This insanitary act is facilitating the spread of feaco-orally transmitted sanitation related diseases.

Infections such as diarrhea, cholera, and typhoid that account for significant mortality are contracted through house flies, contaminated hands, food, and water, eating and cooking utensils. It is not difficult for edible materials to be exposed to faecal matter in Lagos metropolis, because the polluted lagoon account for more than 70 per cent of fish and other sea foods consumed daily by Lagosians.

Therefore eating fish caught in the polluted Lagos lagoon increases the risk of contracting feaco-oral diseases. The main thrust of this paper is to examine the ecological impacts of discharging raw sewage into the lagoon with a view to identifying most healthy and sustainable approach SUMMARY The outcome of the test conducted on water samples from Iddo Jetty showed that the pH value 7.

Although aquatic organisms can still inhabit the lagoon environment with negligible impacts at present; the intractable discharge of raw excreta portends environmental dangers in close future. Other parameters tested were higher, total Suspended Solids TSS recorded ranged from ppm to ppm.

Total dissolve Solid TDS was higher than ppm. Conductivity was uS to uS; these confirmed that excessive quantity of both suspended and dissolved matter were present in the lagoon, and thereby made the lagoon water to be turbid, coloured and facilitate abnormal conduction of electricity. Laboratory tests conducted on water and fish during these quests revealed that the water in the lagoon around the jetty is harmful to aquatic, terrestrial, and arboreal fauna and flora that constitute the lagoon ecosystems.

The laboratory analysis revealed that E, coli, Proteus sp; Enterobacter sp; Aeromonas sp; Klebsiella sp; and Salmonella sp. Having established the fact that insanitary disposal of untreated faecal matter into the lagoon have negative impacts on the Lagoon ecosystem and subsequent man, it is human to suggest ways that could facilities proper management of excreta to obliterate environmental impacts associated with raw faecal contamination.

Therefore, fund that supposed to be expended on developmental projects of any kind would not be employed in procuring medications for curing diseases that are preventable. Public awareness campaign on the evil of insanitary collection and disposal of faecal matter should be heightened to curb incessant dumping of excreta waste into the lagoon to the tune of causing disease that can impair public health.

There is need for government to reinvigorate health professional in charge of preventing disease, especially, Environmental Health Officers. They are generally concerned with public health surveillance and the protection of the environment as it affects health. The reinvigoration of the profession would facilitate proper monitoring of the environment to curb indiscriminate dumping of wastes; and also empower Environmental Health Officers to prosecute any erring resident to serve as deterrent to others.

This is borne out of that fact that the jetty is the point where the highest volume of raw excreta is being discharged into the Lagos Lagoon Prior to getting an investor, there is still a provisional way out of discharging raw feacal matter into the lagoon without treatment. There is a canal adjacent The National Art Theater, Iganmu that can be modified to suit deposition of feacal matter, and here feces can be treated biologically before onward release into the lagoon through soil pipes.

Considering our level of economic and technological development, we can still do with the present system of evacuation and discharge of raw feces. That is septic tank with soak-away system and ventilated improved pit latrines. But evacuated feces should be treated either biologically or otherwise prior to discharge into any parts of the sphere. The fish samples contain trace of microbiological substances according to the laboratory tests conducted; by inferences it will also contain physicochemical parameters, which are deleterious to lives.

Therefore, the lagoon is polluted. Therefore, consuming any of its food can cause infections in the pray. O, Fapohunda, O. O, and Awanlemhen, B. Journal of Animal and Veterinary Advances 5 1 : Adelegan, J. Ajayi, A. The Punch. Monday, June Akpata, T. I and Ekundayo, J. An inaugural lecture delivered at the st University of Lagos on 1 July. Andrew, R. W and Jackson, J. M : Environment and Human Impact. Ayoade, J. London: Macmillan. Baarschers, W.

H ; Eco — facts and Eco — fiction: understanding the environment Debate. World Bank. Hebert, M. Laleye, P. A and Moreau, I. Washigton, D. Miller, G. New York. Morgan, R. National Planning Commission. Obire,O, and Aguda, M.

Obire, O, Tamundo, D. C, and Wemedo, S. Daily Sun. Saturday November K and Owen, A. Raufu, A. Soyinka, A. Wednesday May N, Ibe, C. A, Nwilo, P. C, and Huidobro, P.

International Journal of Oceanography Vol. Wahab, B. The Environscope. A Multidisciplinary Journal. Wright, R. T and Nebel, B. Prentice Hall Inc. Here, a successful strategy for the use of enzymes in various industries. The fruit processing industries produce a large amount of waste material, which poses considerable disposal problems and ultimately leads to pollution.

In the processing of citrus fruits, a large proportion of the produce goes waste in the form of peel, pulp and seeds. Dried citrus peel is rich in carbohydrates, proteins and pectin; pectin acts as the inducer for production of pectinolytic enzymes by microbial systems.

Thus, in the present study, dried citrus peel was used as substrate for the production of pectinase. Pectinase enzyme hydrolyse pectic substances into sugar which can be used for food and value added products. Pectinase are industrially important enzymes and have potential applications in fruit, paper, textile, coffee and tea fermentation industries. Pectinases are either intracellular or extra cellular. Although a large number of micro-organisms can degrade pectin. Keeping in view, the demand of new enzymes some micro-organism capable of pectinase production are being isolated and studied.

India is also a major producer of citrus fruits. Oranges of Nagpur are famous for their size and aroma. Citrus fruits are utilized mostly for table purposes, but a significant portion is processed into various products, such as squashes, cordials, single strength juices, juice concentrates, marmalades, pickles etc.

These all are known to contain appreciable amounts of pectin. Pectic substances are present in the primary plant cell wall and the middle lamella. Sugar beet pulp, a by- product of sugar extraction, also contains Fruit processing industries produce a large amount of waste material in the form of peel, pulp, seeds, etc. Some fresh orange peel is, however, used in shredded form in the preparation of orange-marmalade. This waste material presents considerable disposal problems and ultimately leads to pollution.

Dried citrus peel is rich in carbohydrates, proteins and pectin; the fat content, however, is low. Various microbial transformations have been proposed for the utilization of food processing waste for producing valuable products like biogas, ethanol, citric acid, chemicals, various enzymes, volatile flavouring compounds, fatty acids and microbial biomass.

Citrus peel contains an appreciable amount of pectin and thus can be used as a substrate for the production of pectinolytic enzymes by micro organisms. Pectin acts as the inducer for the production of pectinolytic enzymes by microbial systems. The advantage of using micro organisms for the production of enzymes is that these are not influenced by climatic and seasonal factors, and can be subjected to genetic and environmental manipulations to increase the yield.

Highly productive strains of micro organisms are required at the industrial level to reduce the production costs.

Strains obtained by crossing high and low polygalacturonase hetrokaryons of A. Different types ofmicroorganisms have been exploited for the production of enzymes. Pectinolytic enzymes have been reported to be produced by a large number of bacteria and fungi such as Bacillus spp. These are widely used in the food industry for the production and clarification of fruit juices, to improve the cloud stability of fruit and vegetable juices and nectars, for depectinization in order to produce high density fruit juice concentrates, and for haze removal from wines Pectic enzyme preparations are also used for the production of low methoxypectin for diabetic foods, in the degumming of natural fibers in the textile industry, and in making commercial softwoods, such as Sitka and Norway spruce, more permeable to preservatives.

Purified pectinases have also been developed specifically for use in plant protoplast culture studies. When used with cellulase, purified pectinases have been found to be very useful for generating good yields of viable protoplast in several plant systems, e. Commercial enzymes are generally obtained from fungal sources since the pH optima of these enzymes are in the range found naturally in materials to be processed and the enzymes are secreted into the culture media, making the downstream processing easier.

Keeping in view the importance of enzyme pectinases in the food processing industry and the problems associated with the disposal of food processing industry waste, the present study was undertaken with the objectives of utilizing citrus peel for the production of pectinase.

Enzyme production is a growing field of biotechnology and the world market for enzyme is1. The majority of the industrial enzymes are of microbial origin. In the present study ,eighty five isolates were isolated from different places. These isolates were grown at different temperature and pH to be able to produce a polygalacturonase which favourable to be used as additive for clarification of juice. A screening of pectinolytic productivities of the isolates showed that many of them gave good pectinolytic productivities.

The nature of solid substrate is the most important factor in solid state fermentation. This, not only supplies the nutrient to the culture but also serve as anchorage for the growth of microbial cell. The selection of substrate SSF depends upon several factors mainly with the cost of availability and this may involve the screening of several agro-industrial residue. An optimum substrate provides all necessary nutrients to the micro organism for optimum function.

However, some of the nutrients may be available in suboptimal concentrations or even not present in the substrate In such cases, it would be necessary to supplement them externally. In order to reduce medium costs we screened different low cost substrate and in the course of this we identified citrus peel for cost effective production of the enzyme under study. SSF is receiving a renewed surge of interest, primarly because increased productivity and prospect of using a wide agro industrial residue as substrate.

From industrial point of view, in order to achieve production of low cost of enzymes, these isolates under study were allowed to grow. The selection of the substrate for the process of enzyme biosynthesis was based on the following factors i. SSF are usually simple and can use waste of agro-industrial substrates for enzyme production. The minimal amount of water allows the production of metabolites, less time consuming and less expensive. Higher production of pectinase in SSF process may be due to the reason that solid substrate not only supplies the nutrient to the microbial culture growing in it, but also serves as anchorage for the cell allowing them to utilize the substrate effectively.

The environmental conditions in SSF conditions can stimulate the microbe to produce the extra cellular enzymes with different properties other than those of enzymes produced by same organism under the conditions performed in submerged fermentation.

In this field many workers dealt with the main different factors that effects the enzyme productions such as temperature, pH, aeration, addition of different carbon and nitrogen sources. Although such factors were previously studied. Still we need for more investigation seems to be continuously required to give a chance to isolate more.

The present work is to determine the optimum conditions for the enzyme. On the other hand, the economic feasibility of the microbial enzymes production application generally depends on the cost of its production processes. In order to obtain high and commercially viable yields of pectinases enzyme, it is essential to optimise the fermentation medium used for growth and enzyme production. Alexander and G. Food Sci. Alkorta, C. Garbisu, M. Llama and J. Dhingra and O. Kumar, A. Goswami and T. Phatak, K.

Chang and G. Hang, C. Lee and E. Hang and E. Christen, A. Bramorski, S. Revah and C. Stredansky, E.

Conti, S. Stredanska and F. Choi, G. Ji, K. Koh, Y. Ryu, D. Jo and Y. Aguilar and C. Solis, M. Flores and C. Fredurek and Z. Bhat, N.

Jayasankar, A. Agate and M. Berovic and H. Puchart, P. Katapodis, P. Biely, L. Christakopoulos, M. Kekos, B. Macris andM. Antov and D. Rombouts and W. Birch, N. Blakebrough and K. Corredig and L. Food Sci 67 5 , — Fogarty and C. The potential of this development to enhance local food security, alleviate poverty and improve rural livelihoods has been well recognized.

However, the need for this sector to develop full potential, and make a net contribution to global food availability, domestic food security, economic growth, trade and improved living standards may not be emphasised without paying attention to the health of aquatic environment.

The health of aquatic environment is essential to maintaining fish harvest and production levels in the face of increasing demand. This paper x-rays the prevailing fish production practices and their impacts on the environment.

It concludes by proffering solutions and guide for producing fish that will enhance sustainable development and healthy environment. Key Words: Fisheries, Aquaculture, Water Environmental, Food Security Introduction From ancient times, fishing has been a major source of food for humanity and a provider of employment and economic benefits to those engaged in this activity.

However, with increased knowledge and the dynamic development of fisheries, it was realized that living aquatic resources, although renewable, are not infinite and need to be properly managed, if their contribution to the nutritional, economic and social well-being of the growing world's population was to be sustained FAO a.

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