Entrepreneurial Capitalism – Acquiring Skills, Strengthening Community Position and Micro Finance



What is the strategic link between abundant resources, human development and economic development? What is the critical and strategic link between human capital and economic progress? Why income inequality persists, despite strong economic growth? What are the paths for social mobility? What are the ways to the middle class – the most important stabilizing force in all societies? Some answers to these questions are enormous and report on the ongoing debate on sensible policy options to address the complex problems of high unemployment among university graduates in developing countries in general and in sub-Saharan Africa.

A meta-analysis of existing scientific literature suggests that inequality in income is maintained both in developed countries and in developing countries, despite obvious and significant economic growth. There are many theoretical, structural and empirical reasons for the growing gap between returning to capital and work on one side, as well as compensation for management and workers, on the other. Capital, for example, seems more productive, more mobile, and in many jurisdictions it receives a very favorable tax regime than work.

In addition, global competition, innovation, slower productivity growth and marginal technical replacement rates may reduce wages, even in developed countries. Moreover, the benefits of globalization continue to grow unevenly in the case of highly skilled labor than in the case of low-skilled workers. Finally, periods of economic growth tend to correlate with an increase in inequality in income, as different sectors of the economy, like individuals, do not develop at the same pace.

As has already been explained in many publications on this issue, human capital analysis refers to acquired skills that develop through formal and informal education at school and at home, as well as through vocational training, experience and mobility, and longevity in the labor market. It should be remembered that both peoples and individuals are portfolios of distinct competencies that come from resources and opportunities. Many countries in developing countries have a lot of resources, but they lack the ability to be productive.

Of course, the mere possession of resources is a necessary but not sufficient condition for economic development. Functional human capital, manifested in increasing efficiency and innovation, is a key and strategic link between resources and economic development. A preliminary analysis of macroeconomic data suggests that the problem of economic stagnation is not specific to developing countries and is not limited to them. Indeed, for many years in developing countries such as Nigeria, a significant part of all university graduates work part-time, have an employment contract without any benefits to work, or have no job even after receiving a national service and certification.

Many experts from the labor market and social observers are ready to note the acute lack of knowledge and skills that require high levels of employment. Although this may be true, the lack of functional education leading to employment is only part of the problem. There is considerable and empirical evidence that many Nigerian university graduates are not remunerated or regularly compensated for a longer period of time, while others work under a low income contract and lack of employment incentives or guaranteed permanent employment.

Before postulating that acquiring skills is neither a panacea nor the fastest way to use, one should keep in mind that the knowledge and skills that you can use are a necessary, but insufficient condition for social mobility. This is partly explained by the fact that many graduates of technical universities and technical colleges with very high demand for labor market growth are not achieving much better results than those from liberal schools and even business schools and engineering.

Therefore, the acquisition of skills acquired by the Occwell Center for Procurement (OSW) is aimed at providing graduates and entrepreneurs with effective steps towards functional education, acquisition of knowledge and skills, self-employment, independence and financial independence. As the right path to the social mobility of middle and upper-class, each project of acquiring knowledge and skills should focus on the production of entrepreneurs – a group of graduates with a keen desire for self-employment, independence and financial independence. Graduates should not only have the necessary knowledge and skills in their particular profession, but they must be entrepreneurs who know the business and have a clear understanding of the knowledge and skills in business management. It should be remembered that all entrepreneurs are the owners of companies, but not all business owners are entrepreneurs.

Entrepreneurs are a special group of business owners who take on all the risks in terms of profit and financial freedom. Without the entrepreneurial class, other factors related to production, land, labor and capital, including technology, remain inactive and are considered to be the profession of financial engineering as a loss-making asset. As some experts rightly say, when you decide to work for yourself, you will never go back to work for someone else. In general, people are not going to fail, they just do not plan. In addition, freedom, whether spiritual, economic or political, is indivisible and must be constantly pursued. The passion for financial freedom is a critical difference that distinguishes entrepreneurs.

Okwelle Skills Center Model:

Okwelle Skills Center Model:

The concept of acquiring skills as a tool for strengthening and developing the community is not new. Concepts, principles and problems are well documented in the relevant scientific literature. Read the manual for the same topic for a complete historical story of the rules of acquiring skills that inform many commercial schools and technical schools, training programs, etc. Until the Civil War in Nigeria. The concept of the Okvelle Center for Skills (OSAC) focuses on practical and technology-oriented curriculums.

OSAK will primarily provide accredited certification programs for the profession and career for students from the Niger region, the state of Imo, as a center and magnet for the industry. Procurement Center The Okwelle Skills Acquisition Center fully integrates functional skills and microfinance to ensure that visions of self-employment, independence and financial freedom have become a reality for our graduates. The key strategy of OSOS-PPAC-OSAC is well established and proven. When the relationship with the Netherlands Delta Development Commission (NDDC) is fully formalized, OSAC intends to use our network with global institutions, articulation agreements with higher education institutions in the United States, the Okigwe Diaspora and Okigwe friends to fulfill our mission and achieve our strategic goals. ,

As our employees live in the target communities, they introduce context-based knowledge of social issues. This allows OSAC to avoid policies, analyzes and programs that are not related to reality. OSAC will strive for creative collaboration and strategic partnership by working with global institutions such as the World Bank, the IMF, USAID and other civil society organizations (CSOs) that have a common mission and NDDC through the exchange of information, dialogue and consultation at the global, national and At national levels, Knowledge is the strategic weapon of the OSAC.

Some operational tips:

Some operational tips:

Many new businesses are failing. Therefore, the most important goal of effective skills acquisition projects is to assist new entrepreneurs in minimizing the failure rate of new enterprises. Entrepreneurs need to have a good understanding of the basics of business, such as the effective management of people, processes and products. In addition, entrepreneurs who carry out new business activities must act in accordance with a known probability of success. The OSAC project integrates microfinance by acquiring knowledge and skills with a successful 3M venture business (Money, Management and Marketing).

As you know, many industries outside the business, such as architects, dentists, pediatricians and lawyers, etc. Pass the university without passing the necessary business courses. However, after graduation they become owners of small private companies. These disadvantages are then supplemented during the professional training or employment of business managers. However, without practical knowledge of the basics of entrepreneurship, small business owners are completely dependent on business managers. The agency’s problem arises when the interests of business owners are different from the interests of business managers, both regular employees and external help. In addition to the agency’s problems, small business owners need to understand what the numbers mean to provide effective leadership, supervision and control. Thus, the OSAC curricula will include the role of relevant business systems and functional business areas based on sound management principles and current best industry practices.

The initial review of unsuccessful small companies shows a general picture: the lack of concern for 3M businesses: money, management and marketing. In addition, many small businesses ignore the concept of a business entity: the company’s activities must be recorded separately from the activities of the owners. Indeed, the personal activities of a small business owner should be separate and separate from the business entity. Many small businesses find themselves in trouble because they do not get such a distinction, especially as regards cash flows and the use of cash from business transactions.

Proposed training programs

Proposed training programs

OSAC will have seven training programs: the Computer Science School, the School of Design and Design, the School of Electronic Technology, the School of Business Technologies, the School of Agrarian Technology, the School of Health Technology and the School of Nursing. OSAC will provide the skills and knowledge that our graduates can use to gain employment opportunities in the modern world.

OSAC programs will combine traditional academic content with applied learning concepts, and much will be devoted to practical laboratory research. The advisory committees will include representatives of local businesses and employers that will help each OSAC program periodically evaluate and update training modules, equipment and laboratory design.

Some Strategic Goals

Some Strategic Goals

(1) Apart from the development of human potential and the formation of a constantly growing pool of skilled labor, OSAC will support a culture of self-employment and independence in employment and job creation. The ultimate goal of OSAC will be to contribute to the continuous improvement of our domestic manufacturing processes, as well as opportunities and innovations – the introduction of new ways of functioning.

(2) OSAC provides for seminars on financial literacy as part of a business technology program that will allow our communities to gain access to revenue generating workshops, strengthening and strengthening their independence. The Procurement Center, Okwelle Skills, with integrated microfinance programs will provide access to credit, appropriate training and the development of the importance of savings and investment for our graduates.

(3) OSAC plans to provide tools and training to increase agricultural production locally. The Niger region as a whole, and the old Okinge-Otanzu Otanchar, in particular, have natural objects and the necessary human capital to become a food cell in the south-east. OSAC will encourage agroholdings, where they will be able to introduce new technologies and fully mechanized agriculture and food processing.

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