Essay on Can Entrepreneurship Improve Africas Wellbeing...

Can Entrepreneurship Improve Africa’s Wellbeing Development? Introduction Africa is one of the poorest areas in the world. Data shows that in some countries, poverty reaches unbelievable rates and people live with less than $1 a day (Ngwane 2003). In contrast, in some countries like USA bankers and CEOs earn up to 400 million dollars a year in bonuses and salaries (Enron 2005). On the other hand, entrepreneurship has significantly increased developed countries’ wellbeing in the last century. In this research paper I am going to examine the possible outcomes with the implication of entrepreneurship in the poorest areas of Africa and try to conclude whether it would be beneficial or not. Entrepreneurship definition In the last century,†¦show more content†¦Finally, Coulter combines all other definitions and integrates them into the following: Entrepreneurship is the process whereby an individual or a group of individuals use organized efforts and means to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness, no matter what resources are currently controlled (Coulter 2000). Poverty in Africa This definition gets directly to the heart of the problem, which lies in Africa – poverty and the lack of innovation. The key words of the definition can be linked directly to the existing issues there – lack of economic growth, great needs without satisfaction and very little innovation. To reach an insight how entrepreneurship can be implemented we have to enter deeper into the problems and examine their nature. †¦... Families are often supporting themselves primarily through agriculture and barely meet their fundamental needs, which consume their earnings. Not to mention if a medical emergency case comes up (Baxter, DeJaeghere 2014). Entrepreneurial Activity in Africa First of all studies show that the population in Africa does not engage in entrepreneurial activities. This problem should be discussed in more details. Furthermore, studies show that 63.6% of the population in Africa has engaged in only 4.3% of what it is called â€Å"TEA† (Total EntrepreneurialShow MoreRelatedThe Au Projects And Policies For Sustainability4043 Words   |  17 Pagestangible improvements in the socio economic well being of ordinary Africans through agriculture †¢ To facilitate intervention on system and capacity transformation and enhance productivity and value addition †¢ Improve Human and institution capacity development and improve science and technology development in agriculture †¢ To integrate trade and markets.4 3.4 Table 1: Source: www.nepad-cadep.net; CAADP strategic framework 3.5: CAADP Challenges: CAADP has failed to secure greater understanding and ownershipRead MoreBranchless Banking11637 Words   |  47 Pagessignificant tactical concern for bankers is to verify hub potential and input client markets. And it is this basic inquiry that is adapting a lot of the prior appraisals regarding the set of electronic finance in banking tactic for the potential development in the CDO market is currently unbelievably rapid. Technology and consolidation are living a significant function in cutting working outlay; to a great degree by appreciating degree efficiencies throughout the course of uniting back offices andRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesProcesses 25 †¢ Outcomes 25 Summary and Implications for Managers 30 S A L Self-Assessment Library How Much Do I Know About Organizational Behavior? 4 Myth or Science? â€Å"Most Acts of Workplace Bullying Are Men Attacking Women† 12 An Ethical Choice Can You Learn from Failure? 24 glOBalization! Does National Culture Affect Organizational Practices? 30 Point/Counterpoint Lost in Translation? 31 Questions for Review 32 Experiential Exercise Workforce Diversity 32 Ethical Dilemma Jekyll and Hyde 33 Case