College of Business and Social Sciences

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Public-Private Partnership in Higher Education Provision: Agenda for Stimulating Sustainable Development of Ethiopia
(St. Mary's College, 2003) Yalokwu Patrick O.
The purpose of this paper is to discuss public-private partnership in higher education provision as an agenda for fostering sustainable development of Ethiopia. As in most developing countries, higher education establishment in Ethiopia had for long been dominated by government agencies. The burden of the ownership and running of education institutions in general and higher education in particular had for long rested on the shoulders of the government of Ethiopia. However, in recent years, certain factors in Ethiopia have provided impetus in favor of providing opportunities for the private sector to participate in higher education funding. Against this background, this paper x-rays the historical development of higher education in Ethiopia and the predominant role of government in higher education ownership and control. The need for publicprivate partnership as well as the roles that each partner can play is analyzed in the paper. Some suggestions are proffered with regard to the roles that public and private partners can play. The paper dwells on provisions of higher education by private sectors in the United Kingdom, Canada, Nigeria, and other countries. In these countries, corporate organizations and wealthy private owners have partnered with governments in establishing and funding higher education. By allowing private organizations and individuals to own and/or fund programmes and run colleges and universities, the aggregate cost of higher education provision has been systematically spread among different stakeholders for the overall benefit of sustainable development of the respective countries. All the above contain lessons that can be usefully learnt in the Ethiopian context.
Authentic Leadership and Spiritual Capital Development: Agenda for Building Quality Management and Successful Organizations
(International Journal of Development and Management Review, 2008) Yalokwu Patrick O.
An important factor responsible for the poor performance of many organizations is paucity of authentic leadership and spiritual capital. Evidence from various researchers such as William George (2005), Zohar and Marshal (2004), Stephen Covey (2004), indicate that many business companies and government organizations which were known for good governance, have collapsed, not sequel to lack of economic capital but largely because of absence of authentic leaders and managers equipped with spiritual intelligence and vision, purpose and values. The purpose of this paper is to examine authentic leadership and spiritual capital as key elements for the successful building of quality management and effective organizations. It highlights the nexus between authentic leadership and spiritual capital, describes the common features of authentic leadership and spiritual capital, and sets out a process model for developing spiritual capital and authentic leadership in Africa and beyond. Finally, it suggests strategies for the optimal development of authentic leadership and spiritual capital capable of fostering quality management and successful organizations.
Corporate Governance in the Nigerian Financial Sector: The Efficacy of Internal Control and External Audit
(Global Conference on Business and Finance Proceedings, 2011) Adenugba Adesoji Adetunji; Babalola Adeyemi
Poor corporate governance has become a common lexicon in the Nigerian financial sector. Arguably, the crisis that rocked the sector between 1994 and 2003 are clear testimonies of bad corporate governance due partly to weak internal controls as exhibited in various financial firms and the unprofessional attitude of some of the external auditors. The main thrust of this paper is to determine the efficacy of sound internal controls as checks and balances on the spurious activities of the board and management of the firms. It is also intended to justify the expected role of the external audit in ensuring good corporate governance. For the purpose of this study, secondary sources were utilized and in analyzing the data collected, descriptive statistics was adopted. The principal results showed that weak internal controls were evident in the sector due to the overbearing influence of the chairman in family-controlled businesses and the existence of rubber stamp board. It was also observed that the external auditors and the inspectors from the regulatory authorities have been compromised. Consequently, the authors of this paper opine that a total overhaul of the internal control system within the sector and a visibly independent external audit will be required to curb the excesses of the board and management and guarantee sustainable governance.
Implications of Microfinancing On The Economy: The Nigerian Case
(Global Conference on Business and Finance Proceedings, 2011) Adenugba Adesoji Adetunji; Babalola Adeyemi
Commercial banks traditionally lend to medium and large scale enterprises considered creditworthy but avoid dealing with the microenterprises because of their relatively, high associated costs and risks. However, microfinance institutions (MFIs) have, therefore, become the main source of funding microenterprises in developing countries. The main purpose of this study is to establish the funding options open to microenterprises in the country and the extent to which these have been accessed. It is also meant to assess the rate of growth of these enterprises and the factors accountable for this, especially, in the last ten years. The study also covered the funding challenges facing this subsector which include persistent refusal of commercial banks to finance microenterprises, the need to effectively implement the policy framework that would regulate and standardize MFIs operations, assessing medium to long term sustainable commercial sources of fund to mention just a few. Simple descriptive statistics was used to analyze the data collected for the study. The authors are of the view that separation of ownership and management and a strict compliance with the Micro Finance Regulatory and Supervisory Framework will further enhance the activities of these firms and ultimately impact positively on the economy.
The Moderating Effect of Location on Small Firm Performance: Empirical Evidence
(International Journal of Business and Management, 2011-10) Esuh Ossai-Igwe Lucky; Mohd Sobri Minai
The global interest on entrepreneurship and small business development as a means of economic sustainability and growth through emphasis on location has not been commonly utilized and openly declared. However, the inconsistent results on the relationship between entrepreneurial factors and firm performance have led the authors to propose a contingency model in which the effects of individual determinants, external factors and firm characteristics on firm performance are moderated by location. A cross-sectional study of questionnaire survey research design was conducted and data was generated from 182 entrepreneurs or owner managers of small firms in both manufacturing and service industries. The questionnaires were distributed through drop-off and pick procedure of data collection. The findings indicate that location strongly moderate the relationship between both external factors and firm characteristics with firm performance. However, it is found that location factor does not moderate the relationship between individual determinant and small firm performance.
A Conceptual Framework of Family Business Succession: Bane of Family Business Continuity
(International Journal of Business and Social Science, 2011-10) Esuh Ossai-Igwe Lucky; Mohd Sobri Minai; Adebayo Isaiah Olusegun
Despite the abundant studies that exist on succession in family business there are still many evidence of family business failures, this is due to the fact that the issue of succession and how it affect family business continuity is still yet to be addressed. Hence, studies on how succession leads to family business continuity are very limited and scarce. Therefore, this study explores and examines succession in relation to family business continuity. This study proposes an integrative conceptual model on how true succession could ensure family business continuity.
Enhancing Malaysian Entrepreneurship Development Through Information Technology: A Conceptual Framework
(International Journal of Business and Management Tomorrow, 2011-10) Esuh Ossai-Igwe Lucky
Despite the Malaysian government effort directed towards creating and developing effective and successful entrepreneurship particularly through various IT policies, it is observed that many Malaysia entrepreneurial firms and small businesses are yet to fully utilize the benefits offered by IT in enhancing the business activities. Few entrepreneurs have sufficient knowledge in applying IT tools in their businesses. As a result, this paper examines how Malaysian entrepreneurship development could be enhanced through IT.
The Conceptual Framework of Entrepreneur and Self Management
(International Journal of Business and Social Science, 2011-11) Esuh Ossai-Igwe Lucky; Mohd Sobri Minai
Until now, many entrepreneurs remain ineffective as a result of their inability to manage themselves, which is critical for the entrepreneurs’ personal success and firm performance. Self management has not been explored in both academic and practical field of small business and entrepreneurship discipline. Research in this area has only been focusing on entrepreneurship and time management. This paper is motivated to discuss self management in relation to entrepreneur and small business performance. The paper argues on the crucial role of self management for entrepreneurs’ success and firm performance. It highlights that self management deserves urgent and serious attention in entrepreneurial discourse and should not be neglected. It also provides the way forward to examine self management in relation to entrepreneurs and their business performance.
The Conceptual Framework of the Effect of Location on Performance of Small Firms
(Asian Social Science, 2011-12) Esuh Ossai-Igwe Lucky; Mohd Sobri Minai
There are abundant studies examining the performance of small firms with their studies frameworks. Most of the studies focus on the common attributes and categories that neglect the aspect of location. However, the inconsistent results on the relationship between entrepreneurial factors and firm performance have led the authors to propose a contingency model in which the effects of individual determinants, external factors and firm characteristics on firm performance are moderated by location. The paper argues the significance importance of location factor in the development of entrepreneurship and small business in Nigeria and thus suggests that location factor should be given an urgent consideration as a vital factor that would positively affect small business performance.
The Political Economy of the New Slave Trade in Africa
(Global Journal of Human Social Science Sociology, Economics & Political Science, 2012) Aladegbola Isaac Adegbenga; Olaniyan Azeez O.
A macroanalysis of various enquiries into the nature and causes of Africa’s crises may reveal a continent placed on perpetual slavery. From trans-Atlantic slave trade to colonialism; from colonialism to flag independence and Neo Colonialism; from trade imperialism to human trafficking; from the rampaging momentum of globalisation to erosion of Africa's culture and communal morality; from ‘Tokunbo’ syndrome and currencies, Africa seems to be on the verge of internationally inspired perpetual servitude. The costs of these old and modern vices are enormous, and the task of salvaging them is not less so. While the paper exposes the two divides, it goes to argue that the actualisation of the New International Economic Order (NIEO) remains a must for Africa as a continent if she must survive the present socio-economic and political disempowerment, eating deep to her efforts at meeting the aims and objectives of the Millennium Development Goals (MDG).
Re-investigating the effect of individual determinant, external factor and firm characteristics on small firm performance during economic downturn
(African Journal of Business Management, 2012) Esuh Ossai-Igwe Lucky; Mohd Sobri Minai
There have been inconsistencies with regard to the different entrepreneurial factors that influenced firm performance, particularly in normal time. However, during economic downturn or turbulence, it is believed and expected that the three major characters (entrepreneur, environment and firm) in the economy that are actively involved in entrepreneurial activities would be badly and negatively affected. Despite this, an empirical study substantiating these arguments seems to be lacking, particularly in the small business and entrepreneurship domain. This therefore suggests that some of the major influential factors of individual determinant, external factor and firm characteristics in entrepreneurial development and small businesses should be re-investigated in line with the current situation in order to see if they remain significant during economic downturn. Based on this, a cross-sectional study was conducted using a questionnaire survey research design, and data were generated from 182 entrepreneurs or owner-managers of small firms in both manufacturing and service industries. The questionnaires were distributed through drop-off and pick procedure of data collection. The findings indicated that the relationship between individual determinants, external factor and firm characteristics, and firm performance remain significant during economic turbulence.
Globalisation and Developing Countries: A Blessing or a Curse in Nigeria
(Insight on Africa, 2012-01-01) Ogunwa Samuel Adetola
The Misconception on Small Business Survival during Economic Downturn
(Advances in Asian Social Science, 2012-03) Esuh Ossai-Igwe Lucky
Although, SMEs have been seen as an indispensable tool for economic recovery, however many still belief that small businesses do not survive during economic downturn. “This is a common misconception that is not generally true. Solidly run small businesses actually hold their own during downturns”. As a result of this, the paper explores the small businesses survival during economic downturn. Finally, the paper highlights some measures that could assist the small businesses in surviving economic downturn.
Determinants of Business Success: Trust or Business Policy?
(International Refereed Research Journal, 2012-07) Esuh Ossai-Igwe Lucky; Muhammad Shukri Bakar; Adebayo Isaiah Olusegun
Most times businesses prefer to trust their business partners and customers in achieving success than keeping to the rules and regulations guiding the business activities. Experience has also shown that many businesses claimed to rely on trust to achieve business success, however, business policy seems to play more significant and effective role in achieving business success and keeping the business going. Therefore, the issue of whether trust determines business success better than business policy called for an urgent attention as many businesses relied on trust rather than business policy. In view of this, the paper examines which among one of these factors better determine business success. It examined trust and business policy based on credit and loans perspective. Based on the literature and previous business experience, it was argued that businesses could make better success and prevent the business from death by sticking on their business policy rather than mere business trust which could be injured.
A Sociological Investigation of the Determinant Factors and the Effects of Child Street Hawking In Nigeria: Agege, Lagos State, Under Survey
(International Journal of Asian Social Science., 2013) Ojo Matthias Olufemi Dada
An increase in the number of the children hawkers in Nigeria has become worrisome. With selected respondents in a densely populated area of Lagos State (n = 100), this paper investigates the problem of street hawking among the Nigerian children. Agege Local Government Area of Lagos State, Nigeria, was purposely sampled and the respondents who participated in the study were conveniently sampled from the study area. Simple percentages and chi-square were the methods of data analysis employed in this study. The study discovered that the level of awareness of the dangers inherent in child hawking among the affected children was low. The investigation of the study revealed that parents’ levels of education, parents’ occupations and the sizes of the family were significantly related to the problem of child hawkers in the study area. The study recommends intensified enlightenment programmes on the problem of child hawkers, positive and genuine commitment by the government, mass, free and compulsory education, and a serious fight against poverty through poverty alleviation and eradication programmes by the government. The implications of doing these were discussed.
Fraud: The Causes, Typologies, Monumental Effects and Combative Measures.
(International Journal of Management, IT and Engineering, 2013) Adu Cecilia Adurayemi; Ojo Matthias Olufemi Dada
In this paper, an attempt was made to address the problem of fraud in our society. Definitions of fraud were given to explain its meanings to the understanding of the readers. Attempt was also made in highlighting and explaining the typologies of fraud which exist in the society and its causative factors were also examined. The monumental effects of fraud on the individuals, organizations and society at large were mentioned and thoroughly explained. The combative measure from the angles of protection and detection were also scrutinized. Finally, the paper recommends that corruption should be squarely tackled in our society and the combative measures should be adhered to by all the stakeholders, doing this, will go a long way in addressing the problem of fraud in our society.
Economic and Financial Crimes Commission (EFCC) As A Strategy For Managing Nigerian External Reserves For Sustainable Development
(IOSR Journal of Economics and Finance, 2013) Onochie Maxwell Prosper; Okafor Chinonye; Faboyede Olusola Samuel
Good governance allows a responsible economic and financial management of a nation’s public and natural resources, for the purpose of growth and development. Nigeria’s ability to make remarkable progress in curbing corruption and instituting pragmatic/workable economic and public sector reforms in the system via anti-corruption activities will give her a chance to achieve sustainable growth and development in the management of external reserves. The mechanisms of Economic and Financial Crimes Commission (EFCC), Independent and Corrupt Practices Commission (ICPC) and due process have been very instrumental in this regard. An empirical survey on the performance of EFCC shows that the agency is a very key strategy in redeeming the battered image of the Nigeria and making her external reserves management skills a successful one in spite of the fact that criticisms have trailed the agency’s activities. The paper concludes that on the overall, the realization of the laudable objectives of good external reserves management will be a mirage if leadership problems of lack of integrity, transparency, corruption, and a travesty/disregard for due process, continue to subsist due to an absence of a vehicle for accountability like the EFCC.
Human Capital Development in First Bank of Nigeria PLC
(Mediterranean Journal of Social Sciences, 2013) Adenugba Adesoji Adetunji; Olusegun Olalere Titilope
Human Capital Development is essential for the growth and development of any nation. Human capital are perhaps the most dynamic of all the resources of any organization. Over the years, the Financial Sector had been plagued with scarcity of trained bankers and financial experts, which has led to employment of half fit experts who needs further training to make them suitable for the banking jobs. It is in the light of this that this paper examines the effectiveness of Human Capital Development Programmes of First Bank of Nigeria Plc. The study utilized both secondary and primary for gathering information. For the primary source it utilized both questionnaire and in-depth interview as instruments and for secondary data; the organization’s human capital development chart, handbook and training records. The findings revealed that the Human Capital Development Programmes of First Bank of Nigeria Plc have improved the skills, attitude and performance of staff of the bank which invariably has led to the achievement of organizational goals and objectives. The findings also discovered the need for the bank to put in place motivational policies that will be attractive to the staff in order to retain them after the training and development exercise. This is will reduce employee turnover or attrition, which is visible in the bank.
The Entrepreneur`s Mental Capacity and Firm Performance
(The Business & Management Review, 2013-03) Esuh Ossai-Igwe Lucky; Sobri Minai Mohd
Although, studies on entrepreneurial factors are abundant, however, certain factors still deserve further attention. As a result, this study investigates the influence of entrepreneurs' mental capacity on the firm performance. Based on this, a cross-sectional study of questionnaire survey research design was conducted and data was generated from 182 entrepreneurs of small firms in both manufacturing and service industries. The questionnaires were distributed through drop-off and pick procedure of data collection. Overall, the findings indicate that there is a significant relationship between entrepreneurs' mental capacity and firm performance. It further indicates that entrepreneurs' mental capacity dimensions which include business handling, resolve business issues, stable mind, mental alertness, sound decisions, maturity, and self ability, control and management also influence firm performance. Based on the findings, the study highlights the theoretical and practical implications including the limitations and the suggestions for future study.
Non-Oil Exports in the Economic Growth of Nigeria: A Study of Agricultural and Mineral Resources
(Journal of Educational and Social Research, 2013-05) Adenugba Adesoji Adetunji; Sotubo Oluwatimilehin Dipo
Exports have been described as catalysts for overall development and increase the earnings of the country thereby creating an avenue for growth by raising the national income of the country. Since the importance of foreign income cannot be over-emphasized, this study therefore examines the performance of non – oil exports over the years as well as the reason for that pattern and level of performance. The study evaluates the performance of Nigeria’s export promotion strategies as to whether they have been effective in diversifying the productive base of the Nigerian Economy from Crude oil as the major source of foreign exchange. The study runs from 1981 through 2010. Findings from the study reveal that non – oil exports have performed below expectations giving reason to doubt the effectiveness of the export promotion strategies that have been adopted in the Nigerian Economy. The study reveals that the Nigerian Economy is still far from diversifying from crude oil export and as such the crude oil sub – sector continues to be the single most important sector of the economy. The study made some recommendations for diversification to be achieved and for enhancing the productivity and output of non –oil commodities as well as providing markets for the commodities.

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