AN ASSESSMENT OF ENTREPRENEURIAL COMPETENCIES NEEDED BY BUSINESS EDUCATION STUDENTS IN ESTABLISHING NEW VENTURES IN CAMEROON

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

In both established and emerging economies, entrepreneurship has been recognized as a key factor in economic growth, innovation, and the creation of jobs. Like in many other African nations, Cameroon's economic development is greatly aided by entrepreneurship, which provides opportunities for wealth creation, poverty alleviation, and sustainable livelihoods. However, the abilities and skills of those pursuing business ventures play a major role in the success of entrepreneurial activities.Additionally,entrepreneurship is a component of foundational business education. As a result, it is frequently seen as training in business skills, attitudes, and competences or education "for and about" business (Okoro, 2019).Similarly,business education programs are designed to equip students with the knowledge, skills, and attitudes necessary to thrive in the business world. In Cameroon, where entrepreneurship is increasingly seen as a viable career path, it becomes essential to assess the entrepreneurial competencies cultivated within business education curricula and their alignment with the requirements of establishing successful ventures in the local business environment. On the other hand, graduates who benefit from entrepreneurial study will undoubtedly have a fresh perspective as a result of the introduction of entrepreneurial development in educational institutions (Oduma 2019). Without a doubt, this will assist in preparing the students to work for themselves after graduation.  

The entrepreneurial landscape in Cameroon presents both opportunities and challenges. In the same view, the country boasts a diverse array of industries, natural resources, and a growing consumer market (Mitchelmore & Rowley,2018). On the other hand, entrepreneurs face hurdles such as limited access to finance, bureaucratic red tape, infrastructure deficiencies, and stiff competition. According to Inyang & Enuoh(2019), identified the specific entrepreneurial competencies that can empower business education students to navigate these challenges and capitalize on the available opportunities. Similarly, Okpan (2019) stated that marketing competences, such as the capacity to draw in and hold on to customers' attention, are necessary for the development of entrepreneurship. However, ability to market and sell the company's goods; ability to assess supply and demand; ability to develop a successful sales habit; ability to be tactful and independent; ability to learn effective sales techniques; ability to conduct efficient marketing and information research; and ability to be cheerful, positive, and disappointing (Dixon et al. 2020).  Therefore, a survey will be conducted in order to assess entrepreneurial competencies needed by business education students in establishing new ventures in Cameroon. 

1.2 Statement of the Problem

Although entrepreneurship is increasingly acknowledged as a driver of economic growth in Cameroon, there is still a lack of knowledge regarding the particular entrepreneurial skills that business education students need to successfully launch new businesses in the region's business environment.According to Kanagaretnam et al. (2019), current business education curricula may not be adequately aligned with the dynamic demands and challenges of the Cameroonian entrepreneurial ecosystem. Consequently, students may graduate without possessing the essential competencies needed to navigate the complexities of starting and managing a successful venture.

There may be a disconnect between the competencies emphasized within business education programs and those valued by employers and industry stakeholders in Cameroon. As a result, business education graduates may struggle to meet the expectations and demands of the local business landscape, leading to underemployment or mismatches in skills utilization (Nkeng et al., 2020).

Despite the enthusiasm for entrepreneurship among business education students in Cameroon, the rate of successful venture establishment and sustainability may remain low. This discrepancy suggests a potential gap between the competencies acquired through formal education and those required for practical entrepreneurial endeavors (Nchinda & Nchifor, 2018). Additionally, inadequate entrepreneurial competencies among business education graduates may hinder the growth and competitiveness of the Cameroonian economy. However, the inability of new ventures to thrive and innovate could result in missed opportunities for job creation, wealth generation, and overall economic prosperity (Njikam, 2017). Thus, it is in the light of these that the study seeks to assess entrepreneurial competencies needed by business education students in establishing new ventures in Cameroon. 

1.3  Objectives of the Study

The main purpose of this study is to assess entrepreneurial competencies needed by business education students in establishing new ventures in Cameroon.  Specifically, the study will;

Identify the entrepreneurial competences for establishing new ventures among business education students in Cameroon.

Identify the factors affecting the development of the Entrepreneurial Competencies among business education students in Cameroon.

Identify the factors hindering the establishment of new ventures among business education students in Cameroon.

1.4 Research Questions

The following questions have been prepared for the study:

What are the entrepreneurial competences essential for establishing new ventures among business education students in Cameroon? 

What factors contribute to the development of entrepreneurial competencies among business education students in Cameroon? 

What factors act as barriers to the establishment of new ventures among business education students in Cameroon?

1.5 Significance of the Study

The research aims to investigate the effectiveness of existing entrepreneurship education programs in developing management skills among graduates. By analyzing the outcomes of these programs, valuable insights will be gained regarding their impact on students' ability to navigate the challenges of entrepreneurship. Furthermore, the research seeks to identify potential shortcomings in the current curriculum of business education, offering opportunities for enhancement to better meet the evolving needs of aspiring entrepreneurs. Ultimately, this study strives to contribute to the refinement and optimization of entrepreneurship education, thereby fostering the growth and success of future entrepreneurial ventures. Additionally, subsequent researchers will use it as a literature review. This means that other students who may decide to conduct studies in this area will have the opportunity to use this study as available literature that can be subjected to critical review. Invariably, the result of the study contributes immensely to the body of academic knowledge with regard to assess entrepreneurial competencies needed by business education students in establishing new ventures in Cameroon

1.6 Scope of the study

The scope of this study is to assess entrepreneurial competencies needed by business education students in establishing new ventures in Cameroon. Empirically, this study will identify the Entrepreneurial competences for Establishing New Ventures among business education students in Cameroon, identify the factors affecting the development of the entrepreneurial competencies among business education students in Cameroon, and the factors hindering the establishment of new ventures among business education students in Cameroon.

Geographically, the study will be delimited to undergraduate students of University of Douala, Cameroon

1.7 Limitation of the study

In the course of carrying out this study, the researcher experienced some constraints, which included time constraints, financial constraints, language barriers, and the attitude of the respondents. In addition, there was the element of researcher bias. Here, the researcher possessed some biases that may have been reflected in the way the data was collected, the type of people interviewed or sampled, and how the data gathered was interpreted thereafter. The potential for all this to influence the findings and conclusions could not be downplayed. 

More so, the findings of this study are limited to the sample population in the study area, hence they may not be suitable for use in comparison to other schools, local governments, states, and other countries in the world.

 1.8 Definition of Terms

Entrepreneurship: is the act of creating, organizing, and managing a business venture, typically with the goal of making a profit.

Entrepreneurial Competencies: are skills, traits, and attributes that enable individuals to identify and pursue business opportunities, create and innovate, manage risks, and navigate uncertainties in order to establish and grow successful ventures.

Business Education: involves formal learning and training programs designed to provide individuals with knowledge, skills, and competencies relevant to various aspects of business management, administration, and entrepreneurship.

SMEs: stands for Small and Medium-sized Enterprises. These are businesses that typically have fewer employees and lower annual revenue compared to large corporations.