The Impact of Globalization on Entrepreneurship Development in Developing Economies: A Theoretical Analysis of the Nigerian Experience in the Manufacturing Industry

Masoje Oghenerobaro Mamuzo Akpor-Robaro

Abstract


The paper examines the globalization phenomenon and its impact on entrepreneurship development in developing economies. It appreciates the various perspectives of globalization concept, however, it narrows the discussion to economic globalization and globalization of business in particular. A focus on the implications of globalization for entrepreneurship development in developing countries is imperative, in view of the role of entrepreneurship as the engine of economic growth,and also, considering the apparent controversy about the role of globalization in national economic growth and development which is polarized between a positive perspective and a negative perspective. The paper presents a critical analysis and appraisal of the impact of globalization on entrepreneurship in Nigeria. The analysis is founded on a blend of scattered observations and some qualified reasoning based on information from literature on indigenous entrepreneurship and economic/industrial activities, since the past one decade when the gospel of globalization began; and the relationship between globalization and entrepreneurship. The analysis reveals that globalization has both positive and negative implications for entrepreneurship development, however it is noted that for developing economies, the negative impact far outweigh the positive impact. It is therefore recommended that developing countries must make conscious effort to engage economic policies and measures to manage the influence of globalization on entrepreneurship development, in a way that reduces the negative impact and promotes the positive impact. In conclusion, the paper emphasizes that developing countries must operate a selective or guided open system with regards to business entry into their economies from outside, to guard against market adverse effect due to globalization.
Key words: Globalization; Entrepreneurship development; Impact guided open system; National economic growth and development

Keywords


Globalization; Entrepreneurship development; Impact guided open system; National economic growth and development

References


Adenuga, A.O. (2003). Information Technology and Globalization: The Challenges of Human Capital Development in Nigeria. CBN Bullion, July/Sept, 45-55.
Ajayi, S.I. (2003). Globalization and Equity in Sub-Saharan African: The Myth and the Reality. www.gdnet.org
Akpor-Robaro, M. Robaro (2004). Introductory Notes on the Theories of Entrepreneurship. Lagos: Bendona and Associates.
Arruda, M.C. & Enderle, G. (2004). In FGV (Ed.), Improving Globalization. Brazil.
Awe, K.O. (2007). The Environmental Influences that Shape the path to Entrepreneurship. In Folarin, B.A., Ogundele, O.J.K. & Alaka, N.S. (Eds.), Environment, Values and Policies in Nigeria. Lagos: Environment and Behaviour Association of Nigeria (EBAN).
Baker, M. J. (1996). Marketing: An Introductory Text (6th ed.). London: Macmillan Press Ltd..
Central Bank of Nigeria. Annual Report and Statement of Accounts, 2001-2009.
Hisrich, R. D. & Peters, M. P. (2002). Entrepreneurship (5th ed.). London: McGraw-Hill, Irwin.
Kuratko, D.F. & Hodgetts, R.N. (1998). Entrepreneurship: A Contemporary Approach. U.S.A.: The Dryden Press, Harcourt Brace College Publisher Orlando.
Meredith, G.G., Nelson, R.E. & Neck, P.A. (1991). The Practice of Entrepreneurship. Lagos: University of Lagos Press.
Nickels, W.G., McHuch, J. M. & McHuch, S. M. (2002), Understanding Business (6th ed.). London: McGraw-Hill, Irwin.
Pearce II, J.A. & Robinson, R.B. (2003). Strategic Management: Formulation, Implementation and Control (8th ed.). London: McGraw-Hill, Irwin.
Stokes, D. (1995). Small Business Management: An Active Learning Approach. London: Letts Educational Aldine Place.
Sagagi, M.S. (2007). Globalization and Business Environment: Critical success factorsfor Corporate Leaders in Nigeria. In Folarin B.A. et al. (Ed.), Environment, Values and Policies in Nigeria: A bBook of Readings. EBAN, LASU, Ojo.




DOI: http://dx.doi.org/10.3968%2Fj.mse.1913035X20120602.2551

Refbacks

  • There are currently no refbacks.


Reminder

If you have already registered in Journal A and plan to submit article(s) to Journal B, please click the CATEGORIES, or JOURNALS A-Z on the right side of the "HOME".


We only use three mailboxes as follows to deal with issues about paper acceptance, payment and submission of electronic versions of our journals to databases:
caooc@hotmail.com; mse@cscanada.net; mse@cscanada.org

Copyright © 2010 Canadian Research & Development Centre of Sciences and Cultures
Address: 758, 77e AV, Laval, Quebec, H7V 4A8, Canada

Telephone: 1-514-558 6138
Http://www.cscanada.net Http://www.cscanada.org