Role of entrepreneur in export promotion and import substitution pdf

Role of an Entrepreneur

role of entrepreneur in export promotion and import substitution pdf

Role of Entrepreneur

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Joseph Schumpeter , Austrian- born professor, is famous for focusing on the Successful entrepreneurs are usually modeled as entrepreneur as the central figure in advancing combinations of innovators with creative and the wealth of nations and creating dynamic innovative flair and managers with strong disequilibrium in the global economy. In the general management skills, business know-how, process of creative destruction of the and sufficient contacts. Over the years, market system , entrepreneurs plays a central economists have, however, described more roles role by constantly assimilating knowledge not of entrepreneurs. The following is a summary yet in current use and setting up new of the economists' interesting discourse that, production forms and functions to produce aspiring entrepreneurs may, hopefully, find and market new products. He pointed out that useful. Therefore, the entrepreneur need entrepreneur is someone who has the foresight not be an inventor and vice versa.

Uganda Export Promotion Board was created in Define the role of the entrepreneur? Export Promotion Council's main objective is to promote and develop the exports of the country. Each Council is responsible for the promotion of a particular group of products, projects and services. Export promotion refers to that policy of the government that offers encouragement to the exporters with a view to enhance the export of the country.

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Export promotion policies reflect the interest of national governments to stimulate exports. Subsidies, tax exceptions, and special credit lines are the main instruments used to promote exports. The regulatory aspects of export promotion changed significantly in the late twentieth century. In the past export promotion activities were not substantially regulated, but increasingly since the creation of the World Trade Organization WTO in some export promotion activities have been identified as trade — distorting practices. Export promotion is sometimes seen as a complementary development strategy to import protection.

What are the role of entrepreneur in export promotion?

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4. Unit 4- Role of Entrepreneur

In this article we will discuss about import substitution and export promotion. Hence development has come to be seen as a process of contracting the traditional sector and its growth-retarding institutions in favour of a growing modern industrial sector. Less developed countries LDCs have adopted two alternative strategies for achieving industrialisation— viz. An inward-looking strategy is an attempt to withdraw, at least in the short run, from full participation in the world economy. This strategy emphasises import substitution, i. This can economise on scarce foreign exchange and ultimately generate new manufactured exports without difficulties associated with the exports of primary products if economies of scale are important in import substituting industries and if the infant industry argument applies.

They employ their own as well as borrowed resources for setting up their enterprises. Industrial development normally lead to concentration of economic power in the hands of a few individuals which results in the growth of monopolies. They explore and exploit opportunities,, encourage effective resource mobilization of capital and skill, bring in new products and services and develops markets for growth of the economy. Hence import substitution and export promotion ensure economic independence and development. Once an enterprise is established, the process of industrialization is set in motion. This leads to overall development of an area due to increase in demand and setting up of more and more units.

Scientific Research An Academic Publisher. Affiliation s. This paper empirically integrates the interplay between import substitution and export promote on the Nigerian economy in conjunction with the theoretical position of the protectionist and the free trade activist and how this has helped in promoting the Nigerian economy over the years. A disaggregate anal ysis of importation and exportation is conducted using a time series data be tween the periods to Series of econometric estimation tools were adopted in this study. Findings reveal that Non-oil export and Non-oil import seems to significantly promote economic integration in Nigeria.

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Import Substitution and Export Promotion | Economics





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