Business Opportunity Available For Office Technology And Management Graduate A Means Of Unemployment Reduction

Business Opportunity Available For Office Technology And Management Graduate A Means Of Unemployment Reduction
Abstract
This study was carried out to examine the business opportunity available for office technology and management graduate a means of unemployment reduction using Federal Polytechnic Nekede, Owerri Metropolis as a case study. The study was set to determine whether entrepreneurship education enhances acquisition of the necessary skills for gainful self-employment in Nigeria, ascertain the business opportunities in the OTM programme, investigate the extent to which Entrepreneurship Education (EDE) has exposed OTM graduates to business opportunities, and ascertain factors limiting OTM graduate from utilizing business opportunities. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of office technology and management students in Federal Polytechnic Nekede, Owerri Metropolis. In determining the sample size, the researcher conveniently selected 153 respondents and 141were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and mean scores. While the hypotheses were tested using Chi-square statistical tool. The result of the findings reveals that the business opportunities in the OTM programme includes: monetizing shorthand skills independently, running a business center, owning a consultancy firm, and running a training program/center. Furthermore the result of the factors limiting OTM graduate from utilizing business opportunities includes: lack of adequate access to working capital, the problem of hiring the right employees, inadequate technical and technological infrastructure, and expatriate market competition and economic recession. Therefore, it is recommended that there should be training and retaining of academic staff of OTM departments to enable them acquire and update their skills in the areas of desktop publishing and website designing. To mention but a few.
Table of Content
- Title Page
- Certification
- Dedication
- Acknowledgement
- Table of Content
- List of Tables
- Abstract
Chapter One:
Introduction
- 1.1 Background of the Study
- 1.2 Statement of the Problem
- 1.3 Objective of the Study
- 1.4 Research Questions
- 1.5 Research Hypothesis
- 1.6 Significance of the Study
- 1.7 Scope of the Study
- 1.8 Limitation of the Study
- 1.9 Definition of Terms
- 1.10 Organisations of the Study
Chapter Two:
Review of Literature
- 2.1 Conceptual Framework
- 2.2 Theoretical Framework
- 2.3 Empirical Review
Chapter Three:
Research Methodology
- 3.1 Research Design
- 3.2 Population of the Study
- 3.3 Sample Size Determination
- 3.4 Sample Size Selection Technique and Procedure
- 3.5 Research Instrument and Administration
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Validity of the Study
- 3.9 Reliability of the Study
- 3.10 Ethical Consideration
Chapter Four:
Data Presentation and Analysis
- 4.1 Data Presentation
- 4.2 Analysis of Data
- 4.3 Answering Research Questions
- 4.4 Test of Hypotheses
Chapter Five:
Summary, Conclusion and Recommendation
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendation
- References
- APPENDIX
- QUESTIONNAIRE
Chapter One
Introduction
1.1 Background of the Study
The importance of entrepreneurship on the growth and development of any nation has attracted attention by researchers (Muhammad, 2012). Entrepreneurship is essential in boosting economic activities in any nation. To aid the atmosphere of entrepreneurship, Nigerian Polytechnics play important role in establishing a strong and energetic system of entrepreneurship being the institutions that create and spread higher knowledge. Despite this advantages students shows lackadaisical interest in becoming entrepreneurs. Through adopting entrepreneurship, job formation is possible and this bring rapid industrialization in any country (Asaju, Arome &Anyio, 2014). For many years, the rate of unemployment in Nigeria has been on an alarming rate despite different programs set up by the government of Nigeria (NBS, 2016). Students from polytechnic are expected to have practical skills that will enable them to possibly establish their own business and thereby employ other people, the reverse is the case as such graduates from the polytechnics have been known to as well look for white collar jobs that are not readily available. It thus becomes relevant to inculcate the advantage of optimistic entrepreneurial intention among polytechnic students in order to reduce the menace of unemployment and improve well being among graduates especially in a developing country like Nigeria.
The introduction of Entrepreneurship Development Education (EDE) is seen as one of the right steps taken in the right direction. It should be noted that the introduction of basic education in Nigeria (FRN,2012) has provision for entrepreneurship education and it is also embedded in the secondary education, as well as tertiary education curriculum.Osuala (2004) stated that EDE is a programme that prepares individuals and students to undertake the formation of and/or operation of small business enterprises which also includes franchise operations for the purpose of performing all business functions relating to a product or service with emphasis given to the social responsibilities, legal requirements and risks for the sake of profit making in the conduct of a private enterprise. This implies that entrepreneurship programme prepares or equips learners with the skills that make them not just capable, but also willing to undertake and run a small business of any kind with the soleaim of making profit. This they can achieve because they have the acquired skills that are required for that task. Such business ventures could be in the area of product or servic ebusiness.
Nwangwu (2006), notes that entrepreneurship is the willingness and the ability of an individual or a firm to identify an environmental change and exploit such an opportunity to produce goods and services for public consumption. Entrepreneurship is the totality of those attributes that enable a person to identify hidden business opportunities along with the capacity to organize needed resources with which to profitably take advantage of such opportunities in the face of calculated risk and uncertainty (Essien, 2006). The prosperity and progress of a nation depend on the quality of its people. If they are enterprising, ambitious and courageous enough to bear the risk, the society will develop quickly. Such people are identified as entrepreneurs and their character reflects entrepreneurship.
A nation’s ability to generate a steady stream of business opportunities can only come about when its people take to entrepreneurial activities. Good Entrepreneurs can create a strong economy. They are an important facet of industrial growth and development of a nation. According to Harper (2003) business opportunity is the main mechanism that creates wealth, explanations of economic growth and development often ignore (or fail to acknowledge explicitly) the business opportunity forces of change and adaptation that underlie economic performance. Business opportunity in the office management career has not been very successful due to the numerous challenges facing the entrepreneurship development of Office Technology and Management(OTM) graduates in Nigeria.
1.2 Statement of the Problem
Nigeria is naturally endowed with business opportunities; however, the realization of the full potential of these opportunities has been dampened by some challenges (Ebiringa, 2012). It has however been worrisome that despite the accessibility of technology and government contributions towards entrepreneurship development, entrepreneurship in Nigeria has not performed creditably well and hence the expected vital and vibrant role OTM graduate and business opportunity should play in the economic growth and development of Nigeria has been constrained by the challenges, such as difficulties in accessing fund to start up their own business, lack of knowledge of the business venture they enter into, poor infrastructural to promote their business, unfair competition, multiple taxes, unfavorable monetary policies, inadequate market research, unfavorable fiscal policies, poor government policy implementation, which has constrained the entrepreneurship ability of the OTM students and graduate.On completion of their studies, OTM graduates are equipped with the necessary entrepreneurial knowledge and skills to become business owner and further their career aspirations. However, OTM graduates in Nigeria are faced with mountain of challenges that hamper their entrepreneurship and career development. This study is therefore undertaking to examine business opportunity available for office technology and management graduate a means of unemployment reduction
1.3 Objectives of the Study
The main purpose of this study is to assess business opportunity available for office technology and management graduate a means of unemployment reduction.
The study has the following specific objectives.
- To determine whether entrepreneurship education enhances acquisition of the necessary skills for gainful self-employment in Nigeria
- To ascertain the business opportunities in the OTM programme.
- To investigate the extent to which Entrepreneurship Education (EDE) has exposed OTM graduates to business opportunities
- To ascertain factors limiting OTM graduate from utilizing business opportunities
1.4 Research Questions
The following research questions are raised in line with the objectives of the study.
- Does entrepreneurship education enhances acquisition of the necessary skills for gainful self-employment in Nigeria?
- What are the business opportunities in the OTM programme?
- What is the extent to which Entrepreneurship Education (EDE) has exposed OTM graduates to business opportunities?
- What are factors limiting OTM graduate from utilizing business opportunities?
1.5 Research Hypotheses
- H0: There are no business opportunities available for office technology and management graduate.
- Ha: There are business opportunities available for office technology and management graduate.
1.6 Significance of the Study
The study will provide relevant information on the importance of entrepreneurship development to stakeholders in the education sub-sector which will encourage them to put in place policies and measures that will enhance entrepreneurship development education in schools.
Secondly, it will also provide useful information to the government that will stimulate the government to put in place measures that will promote and enhance entrepreneurship development of Graduates in Nigeria. Thirdly, the study will provide relevant information that will enhance collaboration between private institutions and the government to fashion out an effective way of providing an enabling environment for the growth of entrepreneurship among graduates in Nigeria. Finally, this study will add to the body of literature pertaining to career structure and job satisfaction.Empirically, the study will add to the general body of knowledge and serve as a reference material to student and scholars who wish to conduct further studies in related field.
1.7 Scope of the Study
This study is aimed at investigating the business opportunity available for office technology and management graduate a means of unemployment reduction. Therefore, the study area covers office technology and management graduate in federal Polytechnic Nekede Owerri Metropolis.
1.8 Limitation of the Study
his research project, like all human endeavors, had some challenges that threatened to derail the study’s completion. One of the reasons is that the time allotted for this work was so limited that the researcher did not have enough time to complete the task thoroughly. During data collection, the researcher also had to put forth extra effort to understand the respondents’ interview schedules, several of whom fell into the incomprehensible age group. Also, there were financial and transportation constraints to deal with. Insufficient funds tend to impede the efficiency of the researcher in sourcing the relevant materials, literature, or information and in the process of data collection (internet, questionnaire, interview).
1.9 Definition of Terms
Entrepreneurship:
This is the phenomenon of creating a new business fermenting and managing it taking risk and making losses or profit.
Business Opportunity:
This refers to profitable business activity that can be under taken.
1.10 Organisation of the Study
The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, and selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter(chapter five) contains the summary, conclusion and recommendation.
Chapter Five
Summary, Conclusions and Recommendations:
5.1 Introduction
This chapter summarizes the findings on the business opportunity available for office technology and management graduate a means of unemployment reduction using Federal Polytechnic Nekede, Owerri Metropolis as a case study. The chapter consists of summary of the study, conclusions, and recommendations.
5.2 Summary of the Study
In this study, our focus was to examinethe business opportunity available for office technology and management graduate a means of unemployment reduction using Federal Polytechnic Nekede, Owerri Metropolis as a case study.
The study specifically was set determine whether entrepreneurship education enhances acquisition of the necessary skills for gainful self-employment in Nigeria, ascertain the business opportunities in the OTM programme, investigate the extent to which Entrepreneurship Education (EDE) has exposed OTM graduates to business opportunities, and ascertain factors limiting OTM graduate from utilizing business opportunities.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 141 responses were validated from the enrolled participants where all respondents are office technology and management students in Federal Polytechnic Nekede, Owerri Metropolis.
5.3 Conclusions
Based on the findings of this study, the researcher made the following conclusion.
- Entrepreneurship education enhances acquisition of the necessary skills for gainful self-employment in Nigeria.
- The business opportunities in the OTM programme includes: monetizing shorthand skills independently, running a business center, owning a consultancy firm, and running a training program/center.
- The extent to which Entrepreneurship Education (EDE) has exposed OTM graduates to business opportunities is high.
- The factors limiting OTM graduate from utilizing business opportunities includes: lack of adequate access to working capital, the problem of hiring the right employees, inadequate technical and technological infrastructure, and expatriate market competition and economic recession.
5.4 Recommendations
Based on the findings of the study, the following recommendations are proffered.
- Office Technology and Management departments should be provided with adequate equipment and facilities like computers, scanners, photocopiers internet facilities to enable the youths upon graduation, be equipped with adequate skills to run entrepreneurial ventures of their own.
- Government should provide and create an investor –friendly environment to enable the sustenance of small/medium scale enterprises.
- There should be training and retaining of academic staff of OTM departments to enable them acquire and update their skills in the areas of desktop publishing and website designing.
- Workshops and seminars should be organized for entrepreneurs by the various government training agencies to enable sustenance and success of entrepreneurs. This will in turn enhance self reliance and economic development.

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