Contemporary Entrepreneurship: An International Entrepreneurship perspective for Economic Development of Nigeria
Abstract
This research paper extended the frontiers of knowledge in an emerging field through an investigation of contemporary entrepreneurship and international entrepreneurship with the aim of ascertaining the nature of connection between the aforementioned and Nigerian economic development. With the use of references to contemporary and international entrepreneurial literature, this article used a qualitative and analytical methodology. The theoretical evolution of contemporary and international entrepreneurship theory is narrated, providing a framework for evaluating its connections and linkages with theories of entrepreneurship and economic growth in Nigeria. This is based on the classification of themes and sub-themes. Contemporary entrepreneurship is defined by continual change, quick invention, and ever-intense competition. Businesses employ a variety of modern strategies, including supply chain management, information technology, and risk management, to deal with an ever-more complicated contemporary business environment. By using these strategies, businesses may maintain their competitiveness and quickly adjust to the ever-evolving business landscape. According to this paper result, international entrepreneurship in the context of contemporary entrepreneurship is still in its infancy. Still, the discipline is full with fresh thoughts and ideas that might encourage scholars to continue studying topics like international entrepreneurial orientation and internationalization. Through the foreign exchange remittances of Nigerian enterprises that have internationalized, the research concludes that international entrepreneurship has had a positive and considerable influence on Nigeria's economic development.
Keywords
Contemporary EntrepreneurshipInternational Entrepreneurship
References
Andersson, S., & Evangelista, F. (2006). The entrepreneur in the born global firm in Australia and Sweden. Journal of Small Business and Enterprise Development, 13(4), 642-659. Brown, C., & Thornton, B.C. (2013). How Entrepreneurship Theory Created Economics. Quarterly Journal of Austrian Economics, 16(4), 401-420. Chukwuka, E.J., Imide, I. (2023) Entrepreneurship Development as a strategy for curbing youth Unemployment in Developing Economy. Ijagun Journal of Social and Management Sciences 7 (1) 215-229 Chukwuka E. J. (2024), The Nexus between Cultural Factors and Entrepreneurial Performance of Small and Medium Scale Enterprises in Nigeria. International Journal of Entrepreneurship and Business Innovation 7(3), 43- DOI: 10.52589/IJEBIIJ3SH8QZ Chukwuka E.J., Igweh F. (2024). Feasibility Studies and Entrepreneurial Success of Small and Medium Scale Businesses in Asaba. Nigerian Journal of Management Sciences 25(1) 134-141 Chukwuka E.J (2016) Strategies of Starting and Sustaining a Business without incurring High interest Loans. Alabaster Publishing Technologies Ltd.1 (1) 1-64 Chukwuka E.J., Imide I. (2022). Assessing the Strategic Effect of Small and Medium Scale Enterprises on Economic Development: Evidence from Delta State. FUWJBAFS Journal of Banking and Financial Studies 2(2) 15 Chukwuka E.J., Imide I. (2023) Eco-Innovation, a New Business Profitability Strategy for Environmental Sustainability. INNOVATIONS 75(3) 474-590 Chukwuka E.J., Igweh FO. (2024) Strategic Role of Feasibility Study in Entrepreneurial Profitability and Project Management. International Journal of Business and Entrepreneurial Research 14(11) 1-18 Chukwuka E.J., Igweh F.O. (2024) Strategic Impact of Artificial Intelligence (AI) on Entrepreneurial Creativity and Management. International Journal of Business and Entrepreneurial Research 14(11) 33-46 Chukwuka E.J., Igweh F.O (2024). Strategic Impact of Knowledge Entrepreneurship on Foreign Direct Investment in Nigeria. World Journal of Advance Research and Reviews 21(01) 1699-1717. DOI: 10.30574/wjarr.2024.21.1.0239 Chukwuka, E.J (2018) Effect of ecopreneurship on organizational performance of selected manufacturing firms in Africa, Evidence from Nigeria. Singaporean Journal of Business Economics and Management Review 6(2) 5-10 Chukwuka, E. J. & Eboh, E. A. (2018) Effect of Green Business Practices on Organizational Performance of Selected Manufacturing Firms in Nigeria. International Journal of Development and Management Review (INJODEMAR) Vol. 13 No. 5. Chukwuka, E.J &Nwomiko, U. (2018) Sustainability-Oriented Practices of Eco-Innovation, Eco- Commitment and Organizational Performance of a Developing Economy. World Journal of Research and Review (WJRR) Vol.6 (4)12-2 Chukwuka E. J. (2024), The Nexus between Cultural Factors and Entrepreneurial Performance of Small and Medium Scale Enterprises in Nigeria. International Journal of Entrepreneurship and Business Innovation 7(3), 43- 59. DOI: 10.52589/IJEBIIJ3SH8QZ Chukwuka E. J., Okonta E. C. (2024), The Role of Entrepreneurial Leadership on Entrepreneurial Success: The Place of Leadership and Entrepreneurial Skills. British Journal of Management and Marketing Studies 7(3), 188- 200. DOI: 10.52589/BJMMSRKUFO5BJ Chukwuka, E. J., Dibie, K. E. (2024), Strategic Role of Artificial Intelligence (AI) on Human Resource Management (HR) Employee Performance Evaluation Function. International Journal of Entrepreneurship and Business Innovation 7(2), 269-282. DOI: 10.52589/IJEBI-HET5STYK Covin, J.G., & Miller, D. (2014). International Entrepreneurial Orientation: Conceptual Considerations, Research Themes, Measurement Issues, and Future Research Directions. Entrepreneurship Theory and Practice, 38(1), 11-44. Cantillon, R. (1931). Essai Sur la Nature du Commerce en General. London: Macmillan. Crick, D. (2009). The internationalisation of born global and international new venture SMEs. International Marketing Review, 26(4/5), 453-476. Gabrielsson, M., & Pelkonen, T. (2008). Born internationals: Market expansion and business operation mode strategies in the digital media field. Journal of International Entrepreneurship, 6(2), 49-71. Gentner, D. (2003). Analogical reasoning, psychology of. In L. Nadel (Ed.), Encyclopedia of Cognitive Science (pp. 106-112). London: Nature Publishing Group. Gigerenzer, G., &Gaissmaier, W. (2011). Heuristic Decision Making. The Annual Review of Psychology, 62, 451-482. Grosse, R., & Behrman, J.N. (1992). Theory in international business. Transnational Corporations, 1(1), 93-126. Hayton, J.C., George, G., & Zahra, S.A. (2002). National culture and entrepreneurship: A review of behavioral research. Entrepreneurship Theory and Practice, 26(4), 33-52. Jones, M.V., &Casulli, L. (2013). International Entrepreneurship: Exploring the Logic and Utility of Individual Experience Through Comparative Reasoning Approaches. Entrepreneurship Theory and Practice, 38(1), 45-69. Jones, M.V., Coviello, N., & Tang, Y.K. (2011). International Entrepreneurship research (1989- 2009): A domain ontology and thematic analysis. Journal of Business Venturing, 26, 632- Keupp, M.M., & Gassmann, O. (2009). The past and the future of international entrepreneurship: A review and suggestions for developing the field. Journal of Management, 35(3), 600- Knight, G.A. (2001). Entrepreneurship and strategy in the international SME. Journal of International Management 7(3), 155-171. Knight, G.A., &Cavusgil, S.T. (2004). Innovation, organizational capabilities, and the born-global firm. Journal of International Business Studies, 35(2), 124-141. Mengist, W. Soromessa, T. and Legese, G. 2020. Method for conducting systematic literature review meta-analysis for environmental science research. MethodsX 7(1): 100777. McDougall, P.P., & Oviatt, B.M. (2003). Some Fundamental Issues in International Entrepreneurship. Retrieved on December 20, 2015 from http://citeseerx.ist.psu.edu/viewdoc/download ?doi=10.1.1.210.861&rep=rep1&type=pdf McDougall, P.P., & Oviatt, B.M. (1997). International entrepreneurship literature in the 1990s and directions for future research. In D.L. Sexton & R.W. Smilor (Eds.), Entrepreneurship 2000 (pp. 291-320). Chicago: Upstart Publishing. McDougall, P.P., & Oviatt, B.M. (2000). International entrepreneurship: The intersection of two research paths. Academy of Management Journal, 43, 902-908. International Entrepreneurship Theory: Past, Present and Way Forward | 103 Morrow, J.F. (1988). International entrepreneurship: A new growth opportunity. New Management, 3, 59-61. Nowinski, W., & Bakinowska, E. (2012). A Logistic Model Study of Endogenous and Exogenous Factors Affecting Polish SMEs’ Internationalization Speed. Argumenta Oeconomica, 1(28), 155- 179. Nowinski, W., &Rialp, A. (2013). Drivers and strategies of international new ventures from a Central European transition economy. Journal for East European Management Studies, 2, 191- 231. Oviatt, B.M., & McDougall, P.P. (2005). Defining International Entrepreneurship and Modelling the Speed of Internationalization. Entrepreneurship Theory and Practice, 29(5), 537-553. Schumpeter, J.A. (1976). Capitalism, Socialism and Democracy. New York: Harper Perennial. Wach, K. (2014). International Entrepreneurship and the Third Age: The Effect of the Entrepreneur's Age on Internationalization of Polish Businesses. Przedsi?biorczo??iZarz?dzanie, XV(11[1]), 65-80. Wach, K. (2015a). Entrepreneurial Orientation and Business Internationalization Process: The Theoretical Foundations of International Entrepreneurship. Entrepreneurial Business and Economics Review, 3(2), 9-24. Wach, K. (2015b). Incremental versus Rapid Internationalization of Poland: Results of Exploratory from Poland. Entre
More Articles from WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES
Women Entrepreneurship and Business Growth in Yobe State
Author: Alura Addua Adeck, Umar Mustapha Kachalla Ph. D
Impact of Access to Finance on Entrepreneurial Development in Hong LGA of Adamawa State
Author: Rilwan Aliyu Saad, Precious Adukwu, Usman Muhammad Hashim, Umaru Musa
Entrepreneurial Competences and Sustainability of Manufacturing Firms in South-East, Nigeria
Author: Gabriel Friday Nweke, Prof. G.C Mgbemena
Effect of Knowledge Creation Skills and Entrepreneurial Performance of Medium Scale Enterprises in Abia State
Author: Henry, J.C, Obayi. A. Ikoro, E. I.
Financial Inclusion and Export Competitiveness of Small Enterprises in Abia State, Nigeria
Author: Nze, U.E, Onyebu, M.C and Ikoro, E. I.