Power of the Knowledge of Management Techniques on Productivity among Indigenous Entrepreneurs in Nigeria

Abstract

The research was conducted to determine the power of the knowledge of management techniques among indigenous entrepreneurs in Nigeria and make recommendations. The survey research method was used and researchers self-designed questionnaire, titled, “Entrepreneurs Self-Assessment Questionnaire” (ESAQ) and face-to-face personal interviews were used to generate data. Management techniques involve the entire body of systems, procedures and methods of the science and art of managing to achieve enterprise objectives. In Nigeria today the great need for sound financial intelligence, planning and management makes the understanding of concepts such as ROA, balance-sheet analysis, variable budgeting, ratios, business plans, etc important for emerging entrepreneurs of the current century. Entrepreneurs as decision-makers are constantly under enormous business pressure to make realistic and intelligent projections in key financial variables on how to maximize organizational efficiency and profitability. Data collected were organized and coded before they were classified. To obtain result, data were analyzed through the use of tables, frequencies, percentages and Chi-Square statistics. The Test Statistics showed that knowledge of management techniques is important for superior productivity among indigenous entrepreneurs in Nigeria. Eight recommendations were made based on the result of the study.

Keywords: Entrepreneurs, Management Techniques, Indigenous, ERP, Efficiency, Wharton, Productivity, Kleptomania, Touting, Ownership, Business Plan ICT.