SUSTAINABLE MILLENNIUM FRAMEWORK FOR MANAGING ENTREPRENEURSHIP IN DEVELOPING COUNTRIES IN AFRICA (ZIMBABWE CASE STUDY)

Tawanda Mudamburi ()
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Tawanda Mudamburi: Harare Institute of Technology (HIT), Harare, Zimbabwe

Journal of Global Entrepreneurship, 2012, vol. 2, issue 1, 9-20

Abstract: This research sets out sustainable millennium framework for managing entrepreneurship in developing countries. Research and conceptualizations which suggest that small businesses are key for economic growth and development may not be sufficient in fully explaining the construct. The research expounds a variety of concepts that attempt to put the millennium framework for managing entrepreneurship in perspective. Research has shown that Africa has more than 40% of the world’s natural resources yet ranks the poorest on economic and social indicators. Developing economies like China, India and Malaysia have grown rapidly, while Latin America has also experienced moderate growth due to their entrepreneurship thrust. By contrast much of developing economies in Africa have stagnated and even regressed in terms of foreign trade, investment, per capita income and other economic growth measures. According to Peter Drucker (1997) there is no such thing as resource until man finds a use and thus endows it with economic value. Until then, every plant is a weed and every mineral just another rock. According to African Development Bank (2002), Africa is the least industrialized continent; only South Africa, Egypt, Morocco and Tunisia have significant manufacturing sectors. This therefore means that all of the continent’s natural resources are exported for secondary refining and manufacturing. There is no such thing as a resource until the entrepreneur finds a use for something in nature and thus endows it with economic value. The report represented here sets out a sustainable millennium framework for managing entrepreneurship in developing countries and work as catalysts towards attaining macroeconomic objectives particularly as they relate to balance of payments, economic growth and employment creation

Keywords: Resource; Strategic; Innovation; Value Addition; Business Management (search for similar items in EconPapers)
JEL-codes: M0 (search for similar items in EconPapers)
Date: 2012
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