Entrepreneurial Capability and Entrepreneurial Success of Small and Medium Enterprises: A Review of Conceptual and Theoretical Framework

The incidence of business failure especially in the small and medium enterprises sector is on the increase. This calls for more empirical research to investigate entrepreneurial factors to address business failure. Since the person behind the successful performance is the entrepreneur himself, his capabilities express in terms of entrepreneurial orientation and entrepreneurial competencies become the most important factors to investigate to ensure business successful in a constantly changing or dynamic business environment. This paper provides a review of conceptual and theoretical frameworks on entrepreneurial orientation and entrepreneurial competencies for empirical research on entrepreneurial success factors. Keywords: Entrepreneurial success, entrepreneurial orientation, entrepreneurial competencies, small and medium enterprises

On Entrepreneurial Self Efficacy and Entrepreneurial Success: A Conceptual and Theoretical Framework

This paper presents both conceptual and theoretical framework on entrepreneurial self efficacy with a conclusion that entrepreneurial self efficacy is a good predictor of entrepreneurial intention (venture start up self efficacy) and a robust predictor of business performance (venture growth self efficacy). In this paper entrepreneurial self efficacy refers to subjective self belief of an entrepreneur expressed in terms of optimism to start an enterprise and overconfidence to run it successfully. In conclusion, the paper proposes a modification to the New General Self Efficacy (NGSE) scale to measure entrepreneurial success. Keywords: Self efficacy, optimism, overconfidence, New General Scale

Chemistry Entrepreneurship for Small and Medium Enterprises Development: A Panacea for Job and Wealth Creation

Chemistry is everything and everywhere, as a result chemistry offers wide varieties of business opportunities for small and medium enterprises development than any other discipline. Professional chemists including students of chemistry, with little training on entrepreneurial skills could begin to commercialize their innovations to reap enormous financial benefits; become job creators and contribute positively to the national economic development most especially through the small and medium enterprises.  Chemistry entrepreneurship, a subset of academic entrepreneurship; it involves the process of converting innovations in Chemistry into marketable products for commercial gain. It enables Chemists to take their work beyond publications in academic journals by patenting and commercializing them for economic gains. This paper calls for curriculum re-engineering to fully integrate entrepreneurship into Chemistry curriculum at degree level as well as to encourage researchers to make commercialization a part of their research agenda from the stage of project conceptualization. Keywords: Chemistry, Chemistry entrepreneurship, Business opportunities, innovations, commercialization, small and medium enterprises