Entrepreneurship in Africa: Context and Perspectives


I: The basicsThe African environment for entrepreneurshipA history of entrepreneurship in AfricaScope and types of enterprisesThe environment for African entrepreneursThe political environmentThe economic environmentSociocultural environmentLegal and regulatory environmentTechnological environmentSummaryReview questionsReferencesTheories of entrepreneurshipWhy does theory matter?The first attempts to study entrepreneurshipDefining entrepreneurshipWhat do we know about entrepreneurship?The big pictureThe big picture—part I—income levelsThe big picture—part II—economic structureThe big picture—part III—institutionsThe big picture—a coda—changeThe mid–levels—industryThe day–to–day—part I—discovering and creating entrepreneurial opportunitiesThe day–to–day–part II—exploiting entrepreneurial opportunitiesFrom the West to the East and South—entrepreneurship theories from emerging economiesWhat do we know about entrepreneurship in Africa?What don’t we know about entrepreneurship?Summing it all upReview questionsNoteReferencesII: BirthMindset, capabilities, and goalsAfrimarketPersonality traitsWhat about creativity?Entrepreneurial motivationsThe role of passionWhat skills are necessary?An entrepreneurial mindsetEducation and trainingThe role of genderDo culture and the environment matter?SummaryReview questionsReferencesIII: GrowthFinancing the ventureSources of startup fundingSelf-fundingFamily members and friendsDebt financingEquity financingGrantsMicrofinanceAngel investorsCrowdfundingVenture capitalKiva person-to-person lendingInnovative financing approaches in AfricaInformal financial systemsFinancing business operations and growthManaging the venture’s financesEvaluating the venture’s financial health and performanceProfitability analysisSummaryReview questionsReferencesAppendix to Chapter 4: an example of a chart of accounts for a small businessThe marketing imperativeThe marketing mixCustomer segmentsTargeting and positioningEntrepreneurial versus traditional marketingMarketing in AfricaSummaryReview questionsReferencesOperations and supply chain managementManaging operations and supply chain managementMajor decision areas in operations and supply chain managementProductivity measurementContinuous improvementSummaryReview questionsReferencesManaging networks and teamsNetworksThe strength of weak tiesStrong and weak ties combinedStructural holesNetwork density, diversity, and social frontiersSocial networks: Individual/environment interfaceEntrepreneurial teamsSummaryReview questionsNoteReferencesAppendices to Part III: Business plans and pitch decksIV: MaturityNext stepsManaging growth and expansionGrowth and expansion strategiesEntrepreneurial failureEntrepreneurial exitEnvironmental conditions in Africa that increase entrepreneurial exit propensityBenefits of entrepreneurial exitsEntrepreneurial self-efficacy and managing overconfidenceSummaryReview questionsNoteReferencesV: Special topics on African entrepreneurshipAfrican women entrepreneursRadioxity mediaIntroductionPeculiarities of the African contextMotivations and opportunity recognition/risk perceptionFundingPersonal savingsFamily investmentCommunity initiativesLoansChallengesDiscrimination and gender bias/stereotypesIlliteracyLack of/insufficient information about microfinancing optionsBureaucratic processesInadequate/poor infrastructurePerformance of female-owned enterprises in AfricaOpportunitiesGrowing use of internet and mobile phonesInternational opportunitiesGrowing campaign for locally made materialsPolicy implicationsPractical implications for women entrepreneurs in AfricaConclusionNoteReferencesEntrepreneurial opportunities in real estate developmentIntroductionReal estate development entrepreneursAfrican international/national developersReal estate investment trustsNecessary conditions for REITsLand markets in established citiesNew towns avoiding stalemateDeveloping in AbujaLand acquisitionJoint venturesLegal issuesSummaryNoteReferencesUnderstanding entrepreneurs: A focus on youthOYO RoomsMnM clothing lineWhat makes a good entrepreneur?Entrepreneurial self-efficacyAchievement motivation/Need for achievementRisk propensityThe big 5 personality traitsCreativityYouth entrepreneurshipContextualizing traitsSummaryNoteReferencesTechnologies enabling entrepreneurship in AfricaIntroductionThe African contextTechnologies impacting the entrepreneurship processInformation asymmetryEntrepreneurial searchEntrepreneurial motivationsEmerging themesImplications for policymaking and practiceSummaryNotesReferences
 
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