External factors affecting entrepreneurial financial governance strategies of the technical universities in Ghana

Richard Ofosu Dwamena, Lawrence Mpele Lekhanya and Eric Kofi Boadi
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Richard Ofosu Dwamena: Durban university of Technology
Lawrence Mpele Lekhanya: Durban university of Technology
Eric Kofi Boadi: Koforidua Technical University

International Journal of Business Ecosystem & Strategy (2687-2293), 2024, vol. 6, issue 2, 166-178

Abstract: The study examined important external elements that have an impact on the technical universities (TUs) in Ghana's entrepreneurial financial governance methods. It highlights the difficulties TUs have managing their finances and the critical role that entrepreneurial finance plays in overcoming these financial limitations. A questionnaire was used by respondents as the data gathering tool in the researcher's quantitative investigation. Purposive sampling was utilised in the study to choose the 160 respondents that participated. According to the study, external environmental factors like political and economic factors, regulatory boundaries set by the state, competition between TUs, insufficient budgetary allocation, inefficient financial monitoring systems, and a lack of dynamic capabilities all have a significant impact on entrepreneurial financial governance strategies. According to the study, technical universities (TUs) in Ghana can increase revenue production, augment government financing, and satisfy their objective of offering high-quality education by applying creative initiatives and improving financial governance processes. This study offers policymakers and key stakeholders in the education sector useful insights to improve the financial sustainability and performance of Technical Universities (TUs) in Ghana. It does this by doing a thorough examination of the external environment and its impact on financial governance initiatives. Through an analysis of the effects of political and economic variables, insufficient budgetary provisions, and inadequate financial monitoring frameworks, this research highlights the imperative for Technical Universities in Ghana to give special consideration to these external elements.

Keywords: External Factors; Innovation; Entrepreneurial; Financial Governance; Strategies; Technical Universities; Ghana (search for similar items in EconPapers)
Date: 2024
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