The entrepreneurship miracle: a desperate move to rectify Zimbabwe's socio-economic herculean?

Nyoni, Thabani (2018): The entrepreneurship miracle: a desperate move to rectify Zimbabwe's socio-economic herculean?

Abstract

Entrepreneurship development has been a topical issue having been popularized by ancient great economists such as Adam Smith and Joseph Schumpeter. Today, governments and non – governmental organizations around the world; are busy trying to find out practical strategies of influencing entrepreneurship activities. This is mainly attributed to the overwhelming fact that entrepreneurship is now the new engine of economic growth. This is the major reason why many economists continue to step on each other’s toes in a desperate endeavor to unpack the dern behind entrepreneurship. Owing to her abundant, vibrant and dynamic human and natural resource endowments, Zimbabwe boasts of numerous business and investment opportunities. In an attempt to demystify entrepreneurship in Zimbabwe, this study unbundles some of the most pertinent issues within the concept of entrepreneurship. In order to address rampant unemployment in Zimbabwe, the researcher recommends the promotion of an entrepreneurial culture; amongst other policy prescriptions.

• Item Type: MPRA Paper
• Language: English
• Keywords: Entrepreneur, entrepreneurship, entrepreneurial orientation, entrepreneurial process, graduate entrepreneurship
• Subjects: L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L26 - Entrepreneurship

References

[1] Adesina, O.S (2013). Unemployment and Security Challenges in Nigeria, International Journal of Humanities and Social Science, 3 (7): 146 – 156

[2] Afriyie, N & Boohene, R (2014). Entrepreneurial education and entrepreneurial culture among University of Cape Coast students in Ghana, Athens Journal of Education, 1 (4): 309 – 321

[3] Agbor, J., Taiwo, O & Smith, J (2012). Sub – Saharan Africa’s Youth Bulge: A Demographic Dividend or Disaster, Foresight Africa: Top Priorities for the Continent in 2012, The Brookings Institution – Africa Growth Initiative, 9 – 11

[4] Ahmed, I., Nawaz, M.M., Ahmad, Z., Shaukat, M.Z., Usman, A., Rehman, W & Ahmed, N (2010). Determinants of students’ entrepreneurial career intentions: Evidence from Graduates, European Journal of Social Sciences, 15 (2): 69 – 94

[5] Aldrich, H.E & Fiol, M.C (1994). Fools Rush in? The Institutional Context of Industry Creation, The Academy of Management Review, 19 (4): 645 – 670

[6] Aloulou, W & Fayolle, A (2005). A Conceptual Approach of Entrepreneurial Orientation with Small Business Context, Journal of Enterprising Culture, 13 (1): 21 – 45

[7] Ardichvilli, A & Cardozo, R (2003). A theory of entrepreneurial opportunity identification and development, Journal of Business Venturing, 18: 105 – 123

[8] Barton, C.J & Lischeron, J (1991). Defining entrepreneurship, Journal of Small Business Management, 29 (1): 45 – 61

[9] Bessant, J & Tidd, J (2015). Innovation and Entrepreneurship, John Wiley & Sons, Chichester

[10] Bosma, N., Hessels, J., Schutjens, V., Van Praag, M & Verheul, I (2012). Entrepreneurship and Role Models, Journal of Economic Psychology, 33 (2): 410 – 424

[11] Bustamam, U.S.A., Mutalib, M.A & Yusof, S.N.M (2015). Graduate employability through entrepreneurship: A case study of USIM, Procedia – Social and Behavioural Sciences, pp: 1117 – 1121

[12] Bygrave, W.D & Hofer, C.W (1991). Theorizing about entrepreneurship, Entrepreneurship Theory and Practice, 16 (2): 13 – 22

[13] Cantillon, C (1755), In Nieman, G., Hough, J & Nieuwenhuizen, C (2003). Entrepreneurship – A South African Perspective, Van Schaik Publishers, Pretoria

[14] Cheater, A.P (1989). Managing Culture en route to socialism: The problem of culture answering back, Zambezia, XVII (II): 103 – 122

[15] Chen, Y.C., Li, P.C & Evans, K.R (2012). Effects of Interaction and Entrepreneurial Orientation on Organizational Performance: Insight into Market Driven and Marketing Driving, Industrial Marketing Management, 41 (6): 1019 – 1034

[16] Chiles, T.H., Bluedorn, A.C & Gupta, V.K (2007). Beyond creative destruction and entrepreneurial discovery: a radical Austrian approach to entrepreneurship, Organization Studies, 28 (4): 467 – 493

[17] Covin, J.G & Lumpkin, G.T (2011). Entrepreneurial Orientation Theory and Research: Reflections on a Needed Construct, Entrepreneurship: Theory & Practice, 35 (5): 855 – 872

[18] Covin, J.G & Slevin, D.P (1989). Strategic Management of Small Firms In Hostile and Benign Environments, Strategic Management Journal, 10 (1): 75 – 87

[19] Covin, J.G & Wales, W.J (2012). The Measurement of Entrepreneurial Orientation, Entrepreneurship Theory and Practice, 36 (4): 667 – 702

[20] Dabale, W.P & Masese, T (2014). The influence of entrepreneurship education on beliefs, attitudes and intentions: a cross – sectional study of Africa University graduates, European Journal of Business and Social Sciences, 3 (9): 01 – 13

[21] Damanpour, F & Wischnevsky, H (2006). Research on Innovation in Organizations: Distinguishing Innovation – Generating from Innovation – Adopting Organizations, Journal of Engineering and Technology Management, 23 (4): 269 – 291

[22] Davidsson, P (2008). The types and contextual fit of entrepreneurial process, In P. Davidsson (Ed), The entrepreneurship research challenge, Elgar Publishing Ltd, pp: 73 – 97

[23] Davilla, A., Foster, G & Oyon, D (2009). Accounting and Control, Entrepreneurship and Innovation: Venturing into New Research Opportunities, European Accounting Review, 18 (2): 281 – 311

[24] Degeorge, J.M & Fayolle, A (2011). The entrepreneurial process trigger: a modeling attempt in the French context, Journal of Small Business and Enterprise Development, 18 (2): 251 – 277

[25] Dess, G.G & Lumpkin, G.T (2005). The Role Entrepreneurial Orientation in Stimulating Effective Corporate Entrepreneurship, Academy of Management Perspective, 19 (1): 147 – 156

[26] Dijkhuizen, J., Gorgievski, M., van Veldhoven, M & Schalk, R (2016). Feeling successful as an entrepreneur: a job demands – resources approach, International Entrepreneurship and Management Journal, 12 (2): 555 – 573

[27] Ernst & Young (2009). Entrepreneurship and Innovation: The keys to global economic recovery, White Paper Report, Ernst and Young

[28] Flemming, W.J (1979). The cultural determinants of entrepreneurship and economic development: A case study of Mendoza province, 1861 – 1914, Journal of Economic History, xxxiv (i)

[29] Frishammar, J & Andersson, S (2009). The Overestimated Role of Strategic Orientations for International Performance in Small Firms, Journal of International Entrepreneurship, 7: 57 – 77

[30] Gartner, W (1985). A conceptual framework for describing the phenomenon of new venture creation, Academy of Management Review, 10 (4): 696 – 706

[31] Gedeon, S (2010). What is entrepreneurship? Entrepreneurial Practice Review, 1 (3): 16 – 35

[32] Gifford, S (2010). Risk and Uncertainty. In Acs, Z & Audretsch, D.B., Handbook of Entrepreneurship Research: An interdisciplinary survey and introduction, Kluwer Academic Publishers, pp: 303 – 318

[33] Gummerus, J (2013). Value creation processes and value outcomes in marketing theory: Strangers or siblings? Marketing Theory 13 (1): 19 – 46

[34] Hayek, F.A (1945). The use of knowledge in society, The American Economic Review, 35 (4): 519 – 530

[35] Hebert, R.F & Link, A.N (1988). The Entrepreneur: Mainstream Views and Radical Critiques, 2nd Ed., Praeger, New York

[36] Heinze, K.L., Banaszak – Holl, J & Babiak, K (2016). Social Entrepreneurship in Communities – Examining the Collaborative Processes of Health Conversion Foundations, Nonprofit Management and Leadership, 26 (3): 313 – 330

[37] Hisrich, R.D & Peters, M.P (2002). Entrepreneurship, McGraw – Hill, New York

[38] Hisrich, R.D (2005). Entrepreneurship, 7th Ed, McGraw – Hill, Boston

[39] Hitt, M.A., Ireland, R.D., Camp, S.M & Sexton, D.L (2001). Strategic entrepreneurship: entrepreneurial strategies for wealth creation, Strategic Management Journal, 22 (6 – 7): 479 – 491

[40] Hult, G.T.M., Hurley, R.F & Knight, G.A (2004). Innovativeness: Its antecedents and impact on business performance, Industrial Marketing Management, 33 (5): 429 – 438

[41] Johannisson, B & Olaison, L (2007). The moment of truth – Reconstructing entrepreneurship and social capital in the age of the storm, Review of Social Economy, 65 (1): 55 – 78

[42] Kan, K & Tsai, W.D (2006). Entrepreneurship and Risk Aversion, Small Business Economics, 26 (4): 465 – 474

[43] Keh, H.T.T., Nguyen, T.T.M & Ng, H.P (2007). The Effects of Entrepreneurial Orientation and Marketing Information on the Performance of SMEs, Journal of Business Venturing, 22 (4): 592 – 611

[44] Kennedy, P (1988). African Capitalism – The Struggle for Ascendancy, Cambridge University Press, Cambridge

[45] Kilby, P.M (1971). Entrepreneurship and Economic Development, Macmillan, New York

[46] Kirzner, I.M (1973). Competition and Entrepreneurship, University of Chicago Press, Chicago

[47] Korunka, C., Hermann F & Lueger, M (2003). The Entrepreneurial Personality in the Context of Resources, Environment and the Start – up Process – A Configurational Approach, Entrepreneurship Theory and Practice, 28 (1): 23 – 42

[48] Kropp, F., Lindsay, N.J & Shoham, A (2006). Entrepreneurial, market and learning orientations and international entrepreneurial business venture performance in South African firms, International Marketing Review, 23 (5): 504 – 523

[49] Landstrom, H (2008). Pioneers of Entrepreneurship and Small Business Research, USA

[50] Leibenstein, H (1968). Entrepreneurship and Development, The American Economic Review, 58 (2): 72 – 83

[51] Li, Y.H., Huang, J.W & Tsai, M.T (2009). Entrepreneurial Orientation and Firm Performance: The Role Knowledge Creation Process, Industrial Marketing Management, 38 (4): 440 – 449

[52] Lumpkin, G.T & Dess, G.G (1996). Clarifying the Entrepreneurial Orientation Construct and Linking it to Performance, Academy of Management – The Academy of Management Review, 21 (1): 135 – 172

[53] Lumpkin, G.T & Dess, G.G (2001). Linking Two Dimensions of Entrepreneurial Orientation to Firm Performance: The Moderating Role of Environment and Industry Life – Cycle, Journal of Business Venturing, 16 (5): 429 – 451

[54] Lumpkin, G.T., Cogliser, C.C & Schneider, D.R (2009). Understanding and Measuring Autonomy: An Entrepreneurial Orientation Perspective, Entrepreneurship Theory and Practice, pp: 47 – 69

[55] Lyon, D.W., Lumpkin, G.T & Dess, G.G (2000). Enhancing Entrepreneurial Orientation Research: Operationalizing and Measuring a Key Strategic Decision Making Process, Journal of Management, 26 (5): 1055 – 1085

[56] Macko, A & Tyszka, T (2009). Entrepreneurship and Risk Taking, Applied Psychology, 58 (3): 469 – 487

[57] Masekesa, C & Chibaya, M (2014). Unemployment turns graduates into vendors, The Standard, February 9

[58] McClelland, D (1961). The Achieving Society, Free Press, New York

[59] Merz, G.R & Sauber, M.H (1995). Profiles of Managerial Activities in Small Firms, Strategic Management Journal, 16 (7): 551 – 564

[60] Miller, D (2011). Miller (1983) Revisited: A Reflection on EO Research and Some Suggestions of the Future, Entrepreneurship: Theory & Practice, 35 (5): 873 – 894

[61] Moskovich, Y & Binhas, A (2014). Innovative Policy Making Resulting from Political Pressure from Three Non – Governmental Organizations: An Israeli case study, The Innovation Journal, 19 (3): 1 – 19

[62] Moyo, F (2016). Graduates living in Poverty, Zimbabwe Economic Policy Analysis and Research Unit (ZEPARU), Harare

[63] Nabi, G & Holden, R (2008). Graduate Entrepreneurship: Intentions, Education and Training, Education Training, 50 (7): 545 – 551

[64] Nabi, G & Linan, F (2011). Graduate Entrepreneurship in the Developing World: Intentions, Education and Development, Education Training, 53 (5): 325 – 334

[65] Naude, W (2010). Entrepreneurship, developing countries, and development economics: new approaches and insights, Small Business Economics, 34 (2): 1 – 12

[66] Newey, L.R & Zahra, S.A (2009). The Evolving Firm: How Dynamic and Operating Capabilities Interact to Enable Entrepreneurship, British Journal of Management, 20 (1): 81 – 100

[67] Nieman, G., Hough, J & Nieuwenhuizen, C (2003). Entrepreneurship – A South African Perspective, Van Schaik Publishers, Pretoria

[68] Nyathi, K.A., Nyoni, T., Nyoni, M & Bonga, W.G (2018). The Role of Accounting Information in the Success of Small & Medium Enterprises (SMEs) in Zimbabwe: A Case of Harare, Dynamic Research Journals Journal of Business and Management (DRJ – JBM), 1 (1): 01 – 15

[69] Odora, R.J (2015). Integrating product design and entrepreneurship education: a stimulant for enterprising Design and Engineering students in South Africa, Procedia – Technology, 20 (2015): 276 – 283

[70] Petrakis, P.E (2004). Entrepreneurship and Risk Premium, Small Business Economics, 23 (2): 85 – 98

[71] Poutziouris, P.Z (2001). The Views of Family Companies on Venture Capital: Empirical Evidence from the UK Small to Medium – Size Enterprising Economy, Family Business Review, pp: 277 – 291

[72] Rauch, A.J., Wicklund, G.T & Lumpkin, A.J (2009). Entrepreneurial Orientation and Business Performance: An Assessment of Past Research and Suggestions for the Future, Entrepreneurship Theory and Practice, 33 (3): 761 – 787

[73] Rauch, A.J., Wicklund, M & Frese, F (2005). Entrepreneurial Orientation and Business Performance: Cumulative Empirical Evidence, The 3rd Babson College Entrepreneurship Research Conference, Glasgow

[74] Runyan, R.C., Droge, C & Swinney, J (2008). Entrepreneurial Orientation versus Small Business Orientation: What are Their Relationships to Firm Performance? Journal of Small Business Management, 46 (4): 567 – 588

[75] Salami, C.G.E (2011). Entrepreneurial interventionism and challenges of youth unemployment in Nigeria, Global Journal of Management and Business Research, 11 (7): 16 – 24

[76] Say, J.B (1803). A treatise on political economy, 4th Ed, Deterville, Paris

[77] Say, J.B (1828). Cours complet de conomie politique pratique, Guillaumin, Paris

[78] Schmiemann, M (2008). Entreprises by size and Class: Overview of SMEs in the EU, Statistics in Focus, No. 3

[79] Schumpeter, J. A (1954). Capitalism, Socialism and Democracy, Allen & Unwin, London

[80] Schumpeter, J.A (1934). The theory of economic development: an inquiry into profits, capital, credit, interest and the business cycle, Harvard University Press, Cambridge

[81] Shane, S & Venkataraman, S (1997). The promise of entrepreneurship as a field of research, Academy of Management Review, 25 (1): 217 – 226

[82] Shane, S & Venkataraman, S (2000). The promises of entrepreneurship as a field of research, Academy of Management Review, 25 (1): 217 – 226

[83] Shumba, V (2015). The role of Christian churches in entrepreneurship stimulation, The International Journal of Business & Management, 3 (7): 152 – 157

[84] Smilor, R.W (1997). Entrepreneurship: Reflections on a subversive activity, Journal of Business Venturing, 12 (5): 341 – 346

[85] Timmons, J. A (2000). New Venture Creation: Entrepreneurship for the 21st Century, 5th Ed, Burr Ridge, Irwin

[86] Venkataraman, S (2000). The distractive domain of entrepreneurship research, Advances in Entrepreneurship, Firm Emergence and Growth, 3 (1): 119 – 138

[87] Venkatraman, N (1989). Strategic Orientation of Business Enterprises: The Construct, Dimensionality and Measurement, Management Science, 35 (8): 942 – 962

[88] Wang, C. K & Wong, P.K (2004). Entrepreneurial interest of university students in Singapore, Technovation, 24 (2): 163 – 172

[89] Wang, Y.L., Jim Wu, Y.C & Elinger, A.D (2012). Entrepreneurial opportunity recognition: an empirical study of R & D personnel, Management Decision, 50 (7): 1233 – 1251

[90] Westhead, P., Wright, M & McElwee, G (2011). Entrepreneurship: Perspectives and Cases, Pearson, Harlow

[91] Wicklund, J & Shepherd, D (2005). Entrepreneurial Orientation and Small Business Performance: a Configurational Approach, Journal of Business Venturing, 20 (1): 71 – 91

[92] Yusof, N., Jamaluddin, Z & Lazim, N.M (2013). Persepsi pelajar prasiswazah terhadap kebolehpasaran graduan dan persaingan dalam pasaran pekerjaan, Journal Personalia, 16: 17 – 92

[93] Zahra, S.A (1993). Environment, Corporate Entrepreneurship and Financial Performance: A taxomic approach, Journal of Business Venturing, 8 (4): 319 – 340