Salaried employed provides room for specialization among the employees iii) There is room for growth especially through the promotions
iii) It creates a sense of belonging to an individual because a person will feel he/she belong to a certain organization iv) Some organizations provide training facilities to their workers through seminars and workshops organizes by the companies 37. viii) Some organizations also provide sponsorship opportunities for their employees who wish to further their studies 38. Disadvantages of Salaried Employment i) One has to adhere to the rules and regulations set by the organization he or she works for. ii) There is no opportunities to make more money to supplement your current earning iii) The organization may not adequately recognize ones abilities iv) There is no independence (you have to follow orders and bosses around) v) One may not be accorded adequate and challenging responsibilities that adds up to their qualifications vi) Ones ideas may not easily or readily be implemented by the employer vii) There is no job security (the employer can demote one of his duties at will)
39. Factors Affecting Emergence of Growth of Entrepreneurship 40. An Individual’s decision to pursue an entrepreneurial career is dependent on various factors, these include: 1. Background Factors • Education training and experience - The type of education, training and experience an individual has acquired influences his choice of setting up an enterprise. Technologically qualified persons normally set up their ventures in the field of their specialization. • Family Role Models - If an individual has a supportive family and has a role model they add vigor in his desire to venture into such businesses. • Financial conditions -if an individual is able to meet the family demands and has surplus funds he may start looking for a business venture. 2. Motivational Factors • Need for achievement - It means the drive to achieve a goal compels entrepreneurs to work hard. • Personal motives/expectations - Those individuals who have an internal locus of control, they consider themselves responsible for their growth and development. • Business environment - Supportive environment like low rate of competition, high profit margins, good economic conditions, high demand all contribute towards motivating an individual to set up a venture. 3. Economic Factors • Supportive government policies - The policies formulated by the government and programmes promote entrepreneurship e.g. reduction of tax and tax holidays. • Availability of financial assistance, government and other agencies normally provide financial assistance to the entrepreneurs for example through the constituency development fund, youth fund and women fund.
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