The X-Ray on Directing a New Enterprise
1Matthias O. Nkuda& 2Margaret Ekeins
1Department of Management, University of Port Harcourt, Port Harcourt, Nigeria
2Department of Business Administration, Niger Delta University, Wilberforce Island, Bayelsa State
E-mail: 1matthias.nkuda@uniport.edu.ng & 2wendykeins@gmail.com
ABSTRACT
This paper examines the fundamental issues that are involved in creating and growing a new enterprise needed to help tackle the menace of unemployment particularly in most developing countries of the world such as Nigeria. The purpose was to make constructive contributions on the essentials of building enduring new enterprises in terms of the knowledge and strategic steps that entrepreneurs need to have, master and follow logically and systematically in running and growing their enterprises especially as they relate to human resource management. Relevant archival literature search and review were carried out with a sole focus on the new enterprise. The outcome of the research endeavour indicated that sound knowledge of the dynamics of the operating environment and ability to adopt self-tuning algorithms to tinker occasionally with the corporate and competitive strategies especially during maturity stage are critical. Besides, entrepreneurs of new enterprises are known to be needs-driven and motivated in terms of achievement, power and affiliation which necessarily should be matched and moderated with good reputation bereft of unethical practices and sustained by equity and fairness in the management of all stakeholders which include: the employees, customers, government and the business publics in general.
Keywords: New enterprise, entrepreneurs, needs-driven motivation, self-tuning algorithms, equity and unethical practices
