OJAppS  Vol.5 No.8 , August 2015
Knowledge-Based Entrepreneurship and Globalization: Correlates for the Wealth of Nations and Perspectives from Nigeria
Abstract: Though Knowledge based entrepreneurship (KBE) is yet an evolving concept and globalization is without an acceptable concept globally, their tenets represent sound methods and strategies for socioeconomic development. Inextricably, KBE and globalization phenomena could be seen as mutually exclusive and collectively exhaustive in exploiting socioeconomic development capital. In this paper, the authors investigated and found out that the defining role of both KBE and globalization was to relate as correlates for the wealth of nations, and also was in an invaluable relationship. KBE is defined as variables that engender innovation, creativity, entrepreneurial culture and orientation with science and technology to underpin optima value creation. These include measurable inputs such as micro, small and medium enterprises (MSME) performance and literacy rates at a given time period in the economy. Globalization on the other hand is a multifaceted, multidisciplinary and complex phenomenon that is proxy on economic, political and social globalization indexes, and internet penetration at a given time period in the same economy. This paper tested two hypotheses to prove the construct that KBE and globalization were correlates for wealth of nations with very significant results using secondary data. Research triangulation was also performed to pragmatically prove the results using primary data. Both meta-analyses were conducted using IBM SPSS 21 software on the main model, the multiple regression, a confirmatory model and the chi-square. Finally, the paper called for policy for improving training and education of science and technology content to the entrepreneurs, while taking a 360 degrees approach to promote and intensify globalization practices in Nigeria, and by extension, to other global economies.
Cite this paper: Akuhwa, P. , Gbande, C. , Akorga, B. and Adye, Z. (2015) Knowledge-Based Entrepreneurship and Globalization: Correlates for the Wealth of Nations and Perspectives from Nigeria. Open Journal of Applied Sciences, 5, 460-484. doi: 10.4236/ojapps.2015.58046.

[1]   Kanellos, N. (2013) Exploring the Characteristics of Knowledge-Based Entrepreneurship in Greek High-Techno- logy Sector. Economics and Management of Innovation, Technology and Organizations. DRUID Academy Conference for Doctoral Students, Aalborg, 16-18 January 2013.

[2]   Bishop, K. (2006) Knowledge Based Entrepreneurship in the Czech Republic and Hungary: Results from 4 Case Studies. Knowledge, Entrepreneurship, Innovation, Networks and Systems STREP Project, Universitá Bocconi, Milan.

[3]   Witt, U. and Zellner, C. (2005) Knowledge-Based Entrepreneurship: The Organizational Side of Technology Commercialization. CEMI-REPORT-2005-002.

[4]   Landstrom, H. (2006) Entrepreneurship Research and the Knowledge Economy. World Conference on Intellectual Capital, Paris, 29-30 June 2006.

[5]   Heeboll, J. (2007) Knowledge Based Entrepreneurship Textbook, DTU 42705. Copenhagen University of Science.

[6]   Millenium Report (2000) We the Peoples: Globalization and Governance. The Role of United Nations in the 21st Century by Kofi Annan, Secretary General of the United Nations.

[7]   Baylis, J. and Smith, S. (2001) The Globalization of World Politics, an Introduction to International Relations. 2nd Edition, Oxford University Press, London.

[8]   Adesina, S.O. (2012) The Negative Impact of Globalization on Nigeria. International Journal of Humanities and Social Science, 2.

[9]   Audretsch, D.B. and Sanders, M. (2007) Globalization and the Rise of Entrepreneurial Economy. Jena Economics Research Papers 003_2007. The Jena Economic Research Papers is a Joint Publication of the Friedrich-Schiller- University and the Max Planck Institute of Economics, Jena, Germany.

[10]   Audretsch, D.B., Grilo, I. and Turik, A.R. (2012) Globalization, Entrepreneurship and Region.

[11]   WEF (2011) Global Entrepreneurship and the Successful Growth Strategies of Early-Stage Companies. A World Economic Forum Report in Collaboration with Stanford University, Graduate School of Business, SPRIE and STVP.

[12]   Kelley, D.J., Bosma, N., Amorós, J.E. and Global Entrepreneurship Research Association (GERA) (2010) Global Entrepreneurship Monitor (GEM). 2010 Global Report.

[13]   Natsheh, A.A., Gbadegeshin, A.S., Rimpilainen, A. and Mainela, T. (2013) Technology Based Entrepreneurship: Measurement Technology Perspective. Interdisciplinary Journal of Research in Business, 2, 26-42.

[14]   Dahlstrand, O. (2007) Entrepreneurship and Development. FSF (Swedish Foundation for Small Business Research).

[15]   Mohammad, A.C., Mohammad, A.F., Mohammad, K.B. and Iqra, A. (2011) Globalization and Its Impacts on the World Economic Development. International Journal of Business and Social Science, 2, 291-297.

[16]   Chinnammai, S. (2002) Effects of Globalization on Education and Culture. ICDE International Conference, New Delhi, 19-23 November 2005, 16.

[17]   CodurasMartínez, A., Levie, J., Kelley, D.J., Sæmundsson, R.J., Schøtt, T. and the Global Entrepreneurship Research Association (GERA) (2012) A Global Perspective on Entrepreneurship Education and Training. Global Entrepreneurship Monitor Special Report.

[18]   Daft, L.R. (2010) New Era of Management. International Edition, Thompson South-Western, Cengage Learning, Mason.

[19]   Gareth, R.J. and George, J.M. (2007) Contemporary Management. Fifth Edition, McGraw-Hill, Boston.

[20]   Scarborough, S.N. (2011) Essentials of Entrepreneurship and Small Business Management. 6th Edition, Pearson Education Inc., Upper Saddle River.

[21]   Kelley, D.J., Ali, A., Brush, C., Corbett, A.C., Lyons, T., Majbouri, M., Rogoff, E.G., Babson College and Baruch College (2013) GEM USA Report. National Entrepreneurial Assessment for the United States of America. Global Entrepreneurship Monitor.

[22]   GEM OECD Report (2013) Entrepreneurship in Ireland, the Annual Report for Ireland. Global Entrepreneurship Moni- tor.

[23]   GEF Report (2014) World GDP. Global Economic Forum.

[24]   NBS Report (2012) NBS Briefing on Nigeria Poverty Profile 2010. Press Briefing by the Statistician-General of the Federation/Chief Executive Officer, National Bureau of Statistics, Dr. Yemi Kale Held at the Conference Room, 5th Floor, NBS Headquarters, Central Business District, Abuja.

[25]   MSME Survey (2012) Survey Report on the Micro, Small and Medium Enterprises in Nigeria. A Prelimi NaryReport, 2010 National MSME Collaborative Survey. A Collaboration between National Bureau for Statistics (NBS) and the Small and Medium Enterprises Agency of Nigeria (SMEDAN).

[26]   Gujarati, D. and Sangeetha, N. (2007) Basic Econometrics. Fourth Edition, Tata McGraw-Hill, New Delhi.

[27]   Shahabadi, M.M.M. and Etamad, R.A. (2013) Effect of Globalization on Entrepreneurship: An Economical Point of View. International Journal of Management and Humanity Sciences, 2, 1033-1038.

[28]   Chinn, P.L. and Kramer, M.K. (1999) Theory and Nursing: A Systematic Approach. Fifth Edition, Mosby, St Louis.

[29]   Khan, J.A. (2008) Research Methodology. A.P.H. Publishing Corporation, New Delhi.

[30]   Nickels, G.W., McHugh, M.J. and McHugh, M.S. (2006) Understanding Business. 10th Edition, McGraw-Hill, Boston.

[31]   Longenecker, J.G., Moore, C.W. and Petty, J.W. (1997) Small Business Management: An Entrepreneurial Emphasis. South-Western Publishing, Cincinati.

[32]   Laudon, C.K. and Laudon, P.J. (2007) Management Information Systems, Managing the Digital Firm. Tenth Edition, Pearson Education Inc., Upper Saddle River.

[33]   Drucker, P.F. (1998) The Age of Discontinuity. Reprinted Edition, Butterworth-Heinemann, Oxford.

[34]   Carton, R. (2003) Entrepreneur and Entrepreneurship, Operational Definition of Their Role in Society. An Article Published at the Terry College of Business, University of Georgia, Athens.

[35]   Hisrich, D.R., Peters, M.P. and Dean, A.S. (2008) Entrepreneurship. 7th Edition, McGraw-Hill International Edition, Boston.

[36]   Drucker, P. (1993) Innovation and Entrepreneurship: Practice and Principles. Harper Collins Publishers, Inc., New York.

[37]   Wolk, M.A. (2007) Social Entrepreneurship and Government: A New Breed of Entrepreneurs Developing Solutions to Social Problems. The Small Business Economy: A Report to the President, 2007. The Small Business Administration, Office of Advocacy. A Root CAUSE Report 2007.

[38]   Ayatse, F.A. (2013) Driving Entrepreneurship Education in Nigeria: Issues and Challenges. International Journal of Business and Management Review, 1, 88-90.

[39]   Kelley, D.J., Singer, S., Herrington, M. and the Global Entrepreneurship Research Association (GERA) (2011) GEM Report. 2011 Global Report. The Global Entrepreneurship Monitor.

[40]   Thang, N.N., Quang, T. and Son, H.N. (2013) Knowledge Creation and Green Entrepreneurship: A Study of Two Viet- namese Green Firms. Asian Academy of Management Journal, 18, 129-151.

[41]   Beirjerse, R.P. (2000) Knowledge Management in Small and Medium-Sized Companies: Knowledge Management for Entrepreneurs. Journal of Knowledge Management, 4, 162-179.

[42]   Georgiou, M.N. (2010) Globalization and Entrepreneurship on Economic Growth: An Empirical Analysis (1999-2006).

[43]   Othman, N., Othman, H. and Ismail, R. (2012) Impact of Globalization on Entrepreneurship Education and Entrepreneurial Skills in Higher Education Institutions. 2012 2nd International Conference on Economics, Trade and Development (IPEDR), Vol. 36, IACSIT Press, Singapore.

[44]   Kim, K.J. and Bonk, C. (2006) The Future of Online Teaching and Learning in Higher Education: The Survey Says… EDUCAUSE Quarterly Magazine, 29, 22-30.

[45]   Shear, L., Toyama, A. and Lasseter, A. (2012) Understanding the Implications of Online Learning for Educational Productivity. U.S. Department of Education, Office of Educational Technology, Centre for Technology in Learning, SRI International.

[46]   Akuhwa, P.T. and Akorga, B.S. (2010) Network-Based Strategies and Operational Excellence of Small and Medium Entrepreneurship Businesses in Nigeria. National Conference on “Managing the Challenges of Global Financial Crisis in Developing Economies”, Nassarawa State University, Keffi, 9-11 March 2010, 1-16.

[47]   Johnson, B.R. and Onwuegbuzie, J.A. (2004) Mixed Methods Research: A Research Paradigm Whose Time Has Come. Educational Researcher, 33, 14-26.

[48]   Bazeley, P. (2002) Issues in Mixing Qualitative and Quantitative Approaches to Research. Research Support P/L, Bowral, Australia. 1st International Conference—Qualitative Research in Marketing and Management, University of Economics and Business Administration, Vienna, 10 April 2002, 1-11.

[49]   Roscoe, J.T. (1975) Fundamental Research Statistics for the Behavioral Science, International Series in Decision Process, 2nd Edition, Holt, Rinehart and Winston, Inc., New York.

[50]   Meier, K.J., Brudney, J.L. and Bohte, J. (2009) Applied Statistics for Public and Nonprofit Administration. International Student Edition, 7th Edition, Thomson Wadsworth, Belmont.

[51]   Field, A. (2009) Discovering Statistics Using SPSS. 3rd Edition, SAGE Publications Ltd., London.

[52]   Walpole, R.E. and Myers, R.H. (1978) Probability and Statistics for Engineers and Scientists. Collier Macmillan International Editions, 2nd Edition, Macmillan Publishing Company, Inc., New York.

[53]   Howell, D.C. (2007) Statistical Methods for Psychology. 6th Edition, Thomson Wadsworth, Belmont.

[54]   Spiegel, R.M. and Stephens, L.J. (2007) Statistics, Schaum’s Outline Series. 4th Edition, McGraw-Hill, New York.