TABLE OF CONTENTS

CHAPTER ONE: INTRODUCTION

1.1     Background to the Study  

1.2     Statement of Research Problems

1.3     Research Objectives                

1.4     Research Questions                 

1.5     Research Hypotheses     

1.6     Significance of the study

1. 7    Scope and Limitation of Study

1.8     Operationalization         

1.9     Profile of Flying Eagle Shipping Limited              

1.10   Scope of Services Rendered by Flying Eagle Shipping Limited           

1.11   Definition of Terms       

CHAPTER TWO: LITERATURE REVIEW

2.1     Introduction                           

2.2     Employee                      

2.3     Compensation                         

2.3.1 Factors Affecting Compensation                           

2.3.2 Types of Compensation            

2.3.3 Role of Compensation to Employee                      

2.3.4 Objectives of Compensation                       

2.3.5 Incentive                        

2 .3.6 Roles of Incentive                    

2.3.7 Training and Development                           

2.3.8 Difference Between Training and Development                         

2.3.9 Promotion                       

2.4     Productivity                            

2.5     Entrepreneurship                     

2.5.1 Entrepreneurship Perspective                      

2.5.2 Entrepreneurial Process                     

2.5.3 Entrepreneurial Management                      

2.5.4 Who is an Entrepreneur                     

2.5.5 Characteristics of Entrepreneur                     

2.5.6 Conceptual Frame Work                      

2.5.7 Theoretical Frame Work                      

2.5.8 Empirical Frame Work     

2.5.8 Historical Frame Work   

CHAPTER THREE: RESEARCH METHODOLOGY

3.1     Introduction                   

3.2     Research Method           

3.3     Research Design            

3.4     Study Population  

3.5     Research Sample Frame

3.6     Data Source and Data Collection Procedure

3.7     Research Instruments     

3.10   Validity Test of Research Instrument

3.11   Reliability of Test of Research Instrument   

CHAPTER  FOUR: PRESENTATION AND ANALYSIS OF DATA

4.1     Introduction           

4.2     Data Analysis       

4.3     Testing of Hypothesis    

CHAPTER FIVE:

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1     Introduction                                        

5.2     Summary of Chapters                                   

5.3.1 Theoretical Findings                                     

5.3.2 Empirical Findings                              

5.4     Recommendations                     

5.5     Conclusion and Policy Implications                                  

5.7     Contribution to Knowledge                                     

References

Questionnaire         

CHAPTER ONE

INTRODUCTION

1.1.   BACKGROUND OF STUDY

After the Second World War, concern for economic development became all-pervasive. There was a growing concern for economic development and this strengthened interest in entrepreneurship with primary focus on exploring practical measures to augment the supply of entrepreneurs, i.e. persons with competence and aptitude to initiate, nurture and expand industrial enterprises. This resulted in the belief in education and training to inculcate and develop entrepreneurial capabilities in people so that they could set up their own enterprises. Subsequently programmes directed towards this goal were conceptualized.

The nineteen century was a fertile time for entrepreneurial activity, as technological advances during the industrial revolution provided the impetus for continued inventions and innovations. Much of the literature in the field of entrepreneurship is from the USA and Europe, and thus is based upon western values and cultures. The study of entrepreneurship continues to grow as a field of enquiry and remains one of the most attractive areas of research in the management field.

Entrepreneurship (small business enterprise) plays a significant role in world economy. Specifically, small business firm constitute majority of the types of businesses in all economies of the world (Hill and McGowan, 1999, Timmons, 1994; Storey, 1994, Culkin and Smith, 2000). Some of the world's multi-national corporations, which have influenced many world economics, started as small business enterprise.

In Nigeria entrepreneurship, (small business enterprise) accounts for substantial part of the total industrial employment, production, and value-added in Nigerian business concerns. Okongwu (2001) explained that small business enterprises generate the industrial wealth of Nigeria in addition to being a major agent in the economic, technological, social and political growth and development of Nigeria, not minding the presence of multinational and other large firms in Nigeria such as Shell, Mobil, NNPC, NITEL, NPA, NPHC, Lever Brothers, Nestle Foods and others.

Through small business entrepreneurship, jobs are created not just for the entrepreneurs themselves but also for other people in the Nigerian economy. The aftermath of creation of jobs is reduction in dependence on government to provide everybody with jobs, reduce government expenditure, improve standard of living of Nigerians, reduce social ills in the society, create balanced budget for the economy and invariable leads to higher Gross Domestic Product (GDP).

Entrepreneurs, through efficient and effective entrepreneurship practices and strategies contribute substantially towards economic development by producing and introducing new goods, services and ideas into the market or through new production methods or technologies. Entrepreneurial business organization or individuals are propellers of contemporary world economies. The conceptualization, development, production and commercialization of new goods and services and ideas can revitalize ancient industries or create entirely new ones. Entrepreneurial business companies and individuals are the change agents that accelerate modern societies forward and engender beneficial innovations via continuous improvement, creative destruction of old offerings and process and creative transformation of systems and cultures (Kropp and Zolin 2005). :

Therefore, for Nigeria to be reckoned with in the community of nations economically, there is the important and urgent need to encourage entrepreneurship in small business enterprise in the country. It should be a managerial and governmental policy to note always that entrepreneurship is needed in the Nigerian economy to create jobs, reduce unemployment rate, crime rates, government's expenditure, poverty, social unrest, create wealth, raise productivity level of the economy, provide certain services conveniently and raise the standard of living of Nigeria. For the Nigerian economy to be strong and stable in the relevant sectors, there is the need to emphasize and practice entrepreneurship in small business enterprises through the enactment of relevant policies, efficient and effective management practices, and provision of the enabling environment in Nigeria.

Success or productivity of entrepreneurship is closely related to employee and employee remuneration.