This book, titled: “Law, Entrepreneurship and Corporate Social Responsibility” is a collation of articles written in honour of the late Mama Angelina Azinge, a matriarch whose entrepreneurial skills and social responsibilities, improved positively, her community, her family and the lives around her.
This 294-page book, with 12 articles penned by scholars in their fields – gives an in-depth understanding in these areas. The preface offers a feel of the book whilst describing Mama, thus givingus an insight on her life as an entrepreneur. The title of the book is suggestive of the contents, eight articles are devoted to Law and Entrepreneurship and three articles are devoted to corporate social responsibility, one article is devoted to banking.
Pardon me, as you’d continually hear the words ‘entrepreneur’ throughout this review, I have been restricted from using the synonym, ‘mogul’ ‘business woman’ ‘’tycoon’ or ‘industrialist’ as the scholars in this book, draw a clear difference.
Prof Ekiri(Article is titled) Entrepreneurship Development In Higher Institutions: Charting The Path For Successful Achievement in Nigerian universities.
In this paper, Prof Ekiri proposes that, “Entrepreneurship is an obstacle remover”
He discussed the current situation in Nigeria where over half of the population live below poverty line, with increased mono-product graduates churned out every year without a suitable job market to absolve the demand. He recognises laudable steps taken by the government to address this issue.
At this juncture, Prof Ekiri deemed it fit to define an entrepreneur. He describes an entrepreneur as aninnovative person who initiates a desirable product or service and builds an organisation to exploit the product or service. He goes on to differentiate this concept from a micro small medium enterprise (MSMEs) which is mainly a hands on business owned and managed by an owner who isn’t a dominant player in the market. In making this distinction he states that an entrepreneur looks for previously undetected needs and exploits same. Whilst theoretically correct, this is devoid of practicality in a market where there is competition.
I can say for certain that my grandmother falls within his definition of an entrepreneur as with limited academic prowess, she identified a business opportunity, developed a concept and implemented same during the civil war. The product of her bakery dominated the bread market on both sides of the river Niger.
Prof Ekiri emphasises the need for skill acquisition from the university level. He makes recommendations on steps universities can take to ensure excellence in entrepreneurship development in Nigeria. Thus altering the statistics of unemployed graduates He characterises the vision component and notes the possible sources of funding for the centre. Prof Ekiri typifies the Univerisity of Benin as a model for other universities to emulate whilst taking their peculiarities into account.
The next article written by Osarumwense Iguisi is titled: Subgroup cultures for small business development and poverty alleviation in Africa.
This paper establishes a significant relationship between sub group (ethnic/tribal/family) cultures and small business development and poverty in Africa.
He accentuates the importance of cultural values as central elements of small business and entrepreneurship development. This is because the presence of economic, political and technological factors will not necessarily produce the desired result particularly if some cultural factors were to remain a barrier to entrepreneurship. For instance if Mama went into the business of “Ogbono”, a taboo in Asaba, the success rate would have been dampened not by the absence of finance or prospects, but by culture.
He stresses that addressing culture can solve the problem of unemployment and poverty. The result of ignoring this is failure. I found this paper intellectually stimulating, prompting further research in this area, I’m certain you will too.
Nkechi Quintine Amintor wrote onEntrepreneurships: Embracing Standards, Innovation, Equality and Diversity Tenets in the 21st Century.
Quite contrary to the previous article, this paper examines modern day entrepreneurship and the need for entrepreneurs to embrace international standards in their activities. It looks at the standards currently in place and the regulatory agencies that support and supervise entrepreneurship. However, it also deliberates on issues that are not naturally considered in this field, some of which are: equality and diversity, inclusiveness, age bias, gender, religion, disability, maternity leave etc.
This paper rightly notes the shortcomings in these areas and makes laudable recommendations, urging for improved awareness to boost participation in entrepreneurship.
A review of this article and the previous article makes it clear that whilst adopting international standards, the peculiarities of countries, ethic groups and customs should be taken into consideration
The next writer,Vivian Madu scripted on; Entrepreneurship: Reconceptualising the Concept of Value.This writer recognises the current state of value in Nigeria, on this basis, she states that for there to be any reasonable economic growth, the idea of business value has to be reconceptualised. This must be done by the government and entrepreneurs alike. She states quite briefly that improved branding and packaging, strategic placement and location, marketing research and social investment are steps towards reconceptualising value. Her paper is not blinded by the fact that changes in technology, consumer preferences, competition and localised social and economic conditions can limit the evolution process. For this reason, the right bodies have to be strategically placed so as to ensure that the post investment legacy is positive.
In light of this, it is pertinent to state that the opportunity has never been better for private sector organisations to actively engage in this form of investment.
LuperLorpez wrote on: The Effect of Small and Medium Scale Enterprises Financing On Socio-Economic Development Of Nigeria.
This paper examines the impact of SME’s financing on socio-economic development in Nigeria The writer presents a balanced view on small and medium scale enterprises and their vital role in the process of industrialisation, economic growth and sustainable development in any economy. He takes the practical stand that the extent of benefits a society or nation would gain from small business enterprises will largely depend on its level of financing. He recognises the established options by which business owners can raise funds: both formally and informally. Regrettably however, the formal sector, especially banks are banks are usually skeptical to lend in the face of poor collateral.
This study is significant, as it will help the providers of SMEs finance, the government and stakeholders to trace SME funds and ensure that they attract the desired result.
The next article, Informal Institutions As Drivers In Entrepreneurial Activityis written by Esther Ekong.
The writer investigates the impact of informal institutions on entrepreneurial activities and development outcomes. Her thesis is similar to the preposition by article penned down by IGUISI, she states that for democratic and market institutions to function effectively, they must co-exist with certain pre-modern cultural principles. She finds that the law and contract are necessary but not sufficient as pre-requisites for the stability and welfare of post-industrial societies. They must be supported by motions such as ‘reciprocity principle, mutual bonds, and trust, which are based on traditions and customs and not on calculations’
She presents a well-balanced paper, which also discusses the downside to dealing with informal institutions, as they can sometimes prove detrimental to development.
She makes brilliant recommendations, which are interesting and informative. I highly endorse a thorough read by everyone here.
Gary KelechiAmadi wrote on Encouraging Entrepreneurship In Nigeria: Lessons For Government Policies.
His paper discusses the futility in attempts made by the governments in encouraging entrepreneurial activities in Nigeria. He provides recommendations, amongst which are; improved use of microfinance banks to empower entrepreneurs, provision of resources through alternative means, legislation to facilitate loan grants to ensure low interest rates, supportive policies to ensure land allocation, imports and exports amongst others. Most importantly, he states that these policies and legislation must be implemented and enforced.
On this premise, he advocates for the government to provide an enabling environment in the form of efficient and available basic infrastructural facilities.
Jointly, Anita Nwabuzor and EmekaNwabuzorwrote on: ‘Managing Human Resources: Perspectives for the entrepreneur’
This paper asserts that, ‘whatever the industry, people are a company’s greatest asset’.
His thesis states that an entrepreneur’s competitive advantage lies in his ability to develop human resource management practices aligned with his business strategy thus improving his profit margin.
He gives a fine analysis the five theories of human resources. He stresses the advantages of entrepreneurship for human development. Most importantly, he addresses the challenges entrepreneurs face and makes adequate recommendations.
The next three articles are on corporate social responsibility. These papers are done in recognition of my grandmother’s philanthropic work, which focused on the less privileged.
Olusegun Victor Adesanya wrote on: Concept And Evolution Of Corporate Social Responsibility.
This paper traces the concept of CSR from the period of the great depression till present. It notes that CSR was once focused on environmental issues but has grown to encompass sustainable development and human rights issues amongst others, to the extent that it has dragged into virtually every field of human endeavours. It remains ever expanding.
Nkechi Azinge’s paper titled: Corporate Social Responsibility In Nigeria: Skepticismsand Prospectshighlights the fact that there has been a move from the ideology that corporations work in the interest of shareholders to the realisation that stakeholder value is supreme in any corporation. This article analysed the various perspectives from which CSR is defined while recognising that there is yet to be a globally acceptable definition. It discusses the history of CSR in Nigeria with emphasis on the Niger Delta crisis – a strong basis for CSR in Nigeria. The motivations for CSR in Nigeria are also analysed. This chapter then goes on to examine the skepticism of CSR in Nigeria, it notes that there is a general perception that CSR is a façade and profit remains the driving force for corporations. Despite these drawbacks, this chapter recognises that there are prospects for CSR in Nigeria, which can be effected not necessarily by hard law but by contract.
KaluAnele penned down an interesting article titled: Corporate Social Responsibility As A Tool For Curbing Maritime Insecurity in Nigeria.
This writer emphasised that maritime insecurity is a clog in the wheel of progress in Nigeria’s economic and socio-political development. Thus, he highlights the need to nip this in the bud. To achieve this, he advocates for infrastructural improvement in the oil producing regions thus protecting the environment from degradation, improved CSR by international oil companies – and increased entrepreneurial activities of the youth.
