SKILL ACQUITION DEVELOPMENT CENTRE

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SKILL ACQUISITION
Skill acquisition is the education that prepares people for specific trade,
craft and careers of various levels. Skill acquisition is related to the age
old apprenticeship system of learning, where most of the training is done
while working for a master or craftsman who helps the apprentice to
learn trade or profession in exchange for his continued labour for an
agreed fund after achieving measurable competency. Apprentice usually
begin from the age of 10 and above, some live with their master,
craftsmen household during their period of learning, the skill are usually
based on learning manual or practical activities.
Traditionally, non-academics related to a specific trade, occupation or
vocation are subjected to extra work, this could be in form of an errand
by the master or master’s wife which includes washing, cleaning of
house, taking care of the master’s baby and many other.
However, skill acquisition is relevant to any nation that wishes to boost
her economy, by improving the ability of youth through empowerment.
Stages of Acquisition Skill:
 Novice stage
 Advanced beginner stage
 Competent stage
 Expect stage
 Innovative stage
1. Novice Stage: At this stage, the trainee is new or has little or no
experience in the skill, job or craft. He/she must follow the rules as
given by the instructor without contending with and no sense of
responsibility beyond following the rule exactly.
1. Advance Beginner Stage: At this stage, the trainee has improved
and developed in idea, knowledge etc., to handle some aspect in
his/her course to study. All the aspect of work must be treated
separately with equal importance.
2. Competent Stage: This stage is the ability to do something well or
a skill needed for a job and the necessary standard must be
demonstrated in this stage. The trainee must be able to cope with
crowdedness i.e. multiple activities, accumulation of information.
However, you must perceive good action in relation to goal.
3. Expert Stage: At this stage, you must be reliant on rules, gridlines
and sensible behavioral vision of what is possible, logical method or
thinking approach in new situation or in case of problems.

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4. Innovative System: This is a stage to discover and introduce new
things, ideas or ways of doing things to access the progress in the
development of acquired skill by understanding the learning lead
and skill at different times of the skill. It will also help to determine
when learner is ready to teach others.
Importance of Skill Acquisition to National Economy
1. It has improved the ability of youth in nation building.
2. It has changed the orientation of getting a white collar job to be self-
employed.
3. It has reduced rural-urban migration.
4. It has also reduced crime rate through effective engagement of
youth.
5. It has reduced hunger and poverty.
6. It has up-turned the nation economy.

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ENTREPRENEURSHIP EDUCATION
Entrepreneurship education is the learning designed to communicate
and inculcate opportunities to organize and start new business venture.
It is about transforming an idea into reality, rather than talking about
how to do it. It can also be seen as the willingness and ability of an
individual to seek for an investment opportunity, establish an enterprise
based on this, and run it successfully. It actually concerned with creating
opportunities and meeting the needs of individuals as well as is a process
of identifying gaps in one’s immediate environment, community and
society at large and bringing together resources in an innovative way to
fill these gaps.
Principles of Entrepreneurship Education
The following can be identified as an idea or principles that constitute
development tasks in entrepreneurship education:
1. Generation of Business Ideas.
2. Identification of Investment Opportunities.
3. Making decisions towards exploiting such Opportunity.
4. Conducting Market Research and Survey.
5. Putting together scarce resource e.g. (Human, Financial & Physical).
6. Establishment of an Enterprise.
7. Starting-up the actual Business Enterprise.
8. Distributing and Promoting Organization, Products and Services.
9. Bearing of Risks and Uncertainties.
Major Areas of Focus in Entrepreneurship Education
1) The Individual Entrepreneurship: The entrepreneurship traits of
individual motivation and reinforcement through psychological
training inputs.
2) Enterprise Establishment: This has to do with setting up new
business ventures which would require business opportunity,
guidance, and project planning as the education inputs.
3) Entrepreneurship Management: This involves teaching
management techniques and counseling for successful and
profitable operation of business enterprises.

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CONCEPT OF AN ENTERPRENEUR
Who is an Entrepreneur?
An entrepreneur is a person who has the ability to see and evaluate
business opportunities with necessary resources to take advantages of
and to initiate appropriate actions to ensure success. In other words,
entrepreneurs are action oriented people who are highly motivated to
take risk upon achieving goals.
Characteristics of a Successful Entrepreneur
It is important to have some traits in one’s personality that blend with
needs of the business. The personal characteristics that are needed in
order to succeed in business are listed below:
1. Diligence: Willingness to work a little harder and a little longer with
care.
2. Self- Confidence: The good result of any action is to demonstrate
confidence, and individual opinion and leadership dynamism.
3. Originality: It consist good result such as innovation, creativity
resourcefulness, initiative versatility or knowledge-ability.
4. Organisation: Ability to organize the business ability to relate well
with employees and other external group under any circumstances.
5. Customer Focused: Without customers, business cannot be built.
There is need to possess good human relationship and ability to
relate well with customers.
6. Techno-Knowledge: Virtually every aspect of a business requires
technological proficiency. The entrepreneur must possess some
knowledge about Technology and use the initiative to have
individual who implements technological plans and programs.
7. Global Thinking: Most businesses today are going international;
ideas can be tap from international to improve your business.
8. Task-Result Oriented: Need for achievement profit oriented,
persistence, determination, perseverance, hard work and drive.
Functions of an Entrepreneur
The main task of the entrepreneur is to organize the factors of
production, assure the production system and the risk of production.
Land, labour and capital will have no economic value unless they are
organized by an entrepreneur who on his own account can undertake
financial risk and management control.
The following are the main functions perform by an entrepreneur:
1. Searching and discovering new business ideas.
2. Gather together financial resources necessary for the business.
3. Co-ordination of other factors of production.
4. Bearing risk for the business.
5. Seeking and developing economics opportunities.
6. Evaluating economic opportunities.

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BUSSINESS ACTIVITIES
Business activities are those legitimate activities that individual, group of
people or organization involve in, so as to generate income. It can also be
seen as those legal things that people do to make lives better and more
comfortable. It’s also the act of combining the factors of production so as
to return a profit by satisfying the needs and wants of consumers.
Business activities have ways of creating employment opportunities for
people. In other words, may be in the form of putting trading or a large
firm as related to production company, construction company, banking
institution, various form of these activities is largely depended on the
capital input and the level of education in it.
The Essentials of Business Activities
They relate to what has been done in business activities, they make
economic activities to be functioning well and this can be grouped together
as highlighted below:
 Production
 Distribution
 Consumption
1. Production: Production is the conversion of resources into usable
products, which may be either goods or services.
Goods are tangible objects, like bread or books, whereas services
are intangible like TV broad casting, teaching or haircut.
Manufactured assets such as machines and buildings are also the
result of human productive activities. Some items are produced for
investment, local government build roads and individuals producing
cooked meals are all engage in the business activities of production.
2. Distribution: Distribution is the sharing of product and resources
among people. In modern economies, distribution activities take two
main forms i.e. Exchange and Transfer. When you hand over money
in return for goods or services produced by other people or when
you relieve in wage for the work you have provided to an
employment, you are engaging in exchange. People are generally
much better off if they specialize in the production of some limited
range of goods or services and meet at least some of their other
needs through exchange.
Distribution also takes place through transfer. Transfers are
payment given with nothing specific expected in return. For example
wealth transferred from one generation to the next by inheritance.
3. Consumption: Consumption refers to the process by which goods
and services are at least put to final use as eating a meal or burning
gasoline in a car. Goods are literally ‘consumed” in the sense that
they are used up and are no longer available for other.

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In other cases such as enjoying act in a museum, the experience
may be consumed without excluding others or using up material
resources
Classification of Business Activities
The business activities are classified in three categories, these are grouped
together listed below:-
 Profession
 Employment
 Business.
1. Profession: A profession is an occupation carried out only by
professional people likes Doctors, Lawyers, Engineers etc. They
provide specialize services in return for fees. To become
professional, a man requires specialized knowledge. For example, a
doctor needs specialized knowledge in medicine, a lawyer need a
degree in law etc.
2. Employment: Employment is a type of occupation under which one
person provides his service, physical or mental to someone else in
return for whom he gets salary or wage. The person who employs is
called employer and the person who is employed is employee or
worker
3. Business: Business is an economics activities concerned with
production and distribution of goods and services with the aim to
earn profit. It includes all these activities which are directly or
indirectly concern with production, purchase and sales of goods or
services, so the production marketing advertising, warehousing,
insurance, banking etc. are all business activities.

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BUSINESS IDEAS AND PRINCIPLES
The business ideas can be described as the burning desire within an
entrepreneur that is needed to be actualized. In this respect, there is the
business idea as to what the entrepreneur wants to produce, and how
exactly he wants the products or service to look like. It is very important
that the business idea must match the entrepreneur. An entrepreneur
has been defined as the person who bears the risk of establishing a
business set-up for the purpose of making profit. For the idea to be put
into practice and for it to accomplish its purpose which is to make profit
without posing damages to him or her, the idea and the entrepreneur
must positively be corrected. Some business required certain key
qualities from entrepreneur before they can be run successfully. There is
need for self-appraisal with respect to certain characteristics and
accompanying qualities on the part of the entrepreneur.
Classification of Business as:-
1. Manufacturing: - Gathering raw materials and transforming them
into useful goods and services e.g. Cassava making, candle making,
bakery, milling etc.
2. Agriculture: - engaging in farming, animal rearing, forestry and
fishing.
3. Mining: - engaging in the process of gathering raw materials from
the bound of earth, converting the raw materials into consumers’
goods or selling them to fans that convert them into usable forms.
4. Construction: - engaging in building, construction of roads etc.
5. Wholesaling: - distributing both consumer and industrial goods in
large quantities.
6. Retailing: - Most small scale industrialists are retailer in different
areas of business. They buy their products from the wholesaler,
manufacturer or company representative.
7. Service: - Engaging in rendering essential services such as mobile
maintaining and repair, management services, accounting services,
dry cleaning, transportation, catering services, computer services,
hotel attendance and management etc.
8. Finance: - Small business can also be operated in field such as
daily contributing, micro banking, commercial banking etc.
Source of Business Ideas
There are many ways of search for business ideas. The consumer services
are explained below:
1. Newspaper:-reading newspaper and paying considerable effort to
the classified advertise section may reveal business opportunities.
2) Vocational training and experience: - A business idea may be
generated through the entrepreneur area of training. For example a
fashion designer, operating a fashion shop, computer engineer
establishing workshop, caterer, establishing eatery etc.
3) Hobbies: - Activities purchased pleasure and relaxation may often
be turned into a profitable, full time business e.g. if “A’’ enjoys

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photography, “A” may be able to expand this hobby into a profitable
business.
4) Shows and exhibition: - Attending industrial show and exhibition
sponsored by manufactures and distribution may provide another
way to find ideas for new business.
5) Published texts: - Entrepreneur must be aware of event within
their environment. This can be achieved by reading, these
publications will enable prospective entrepreneur to stay ahead of
informant.
6) Industrial visits: - visit to existing industries may also imitate
business ideas.
7) Personal contacts with friends and family members.
8) Observation of business activities in the communities may reveal
the need for a particular business.
9) Interviews: - Personal conversation with the purpose of generating
business ideas.
BUSINESS PRINCIPLES
To be a successful entrepreneur, some simple rules must be followed,
once you obey these rules meticulously, you will arrive at a destination.
The rules are: -
1. Go into a line of business you have passion for, this interest is going
to be the fuel that will keep you going in good time or in bad time.
2. Before deciding on business you want to go into, take time to
examine yourself. The type of person you are will determine the type
of business you should go into.
3. Some people tend to look out for business that is throwing very well
at the particular time and then go into it. And often, they fail
because they lack passion.
4. Hand work is the key to success in life. Once you are ready to work
and you are consistent, you will make money.
5. You cannot make headway in your business, if you relax in the
comfort of your business premises and want for consumers to walk
in, the world has moved on from the old substance of marketing,
which is waiting for customer, to sell and buy. The system now is
throwing the products at the customers. We are now in the age of
compulsion and persuasion, once they are psychologically and
sufficiently disturbed they will buy.
6. If a product is well packaged, with a competitive price, you can
confidently take it to your enemy camp and they would buy it from
you. The key word here is appeal, once a product is appealing, it
evoke desire and desire as we know, has no race or religion. The
news is to start small, sell cheap, give quality but don’t kill
competition, promote hard work, adopt “catch-me-if-u-can” mentally,
don’t be in a business just to add to the numbers, be law abiding and
of course don’t fight government.

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BUSINESS OWNERSHIP
When starting, owning or operating your business, you have to make
some major decision which can be a complicated process; you have to
determine which type of ownership you want to adopt which must be
appropriate for the objective of your business. Most small scale business
are sole proprietorship, this does not mean sole proprietorship is the best
form of ownership, attempt should be made to study the forms of
business ownership. I.e. sole proprietorship, partnership, and co-
operation taking into consideration their advantages and disadvantages.
FORMS OF BUSINESS OWNERSHIP
Sole Proprietorship
This is the oldest, simplest and the common form of business ownership.
It is the modification of one man business and it is easy to organize and
operate the mineral resources, legal requirement and capital outlying
makes this form of business ownership the commonest. A sole
proprietorship is a business owned by an individual who has active
control over it, although the owner may hire a specialist.
However, the overall control is vested with the sole proprietor, the
success or failure of the business will depend on the talent of the owner
and consequently the owner alone bears the risks of the operation. He is
the only one who is entitled to the profit of the business provided the
proprietor does not own any debt. He has all claims to the assets. I.e.
property of the business if he has business debt, however, his creditor
(those to whom he owes money) have damn against the assets.
Advantages of Operating One own Business
Many advantages are to be found when one operate a business of its own
rather than working for some else.
1. Satisfaction of being one own boss: There is more satisfaction in
being one own boss. A man can form his own policy and make his
own decision without consulting the home office, which must not be
done even by a branch manager of a large company. He is also free
from constant supervising pressure to produce result although
when one is working for himself. There is a strong incentive, i.e.
increase profit to produce.
2. Job Security: an employee of a large company is often warned that
he may be discharged, although many independent businesses are
short lived; statistics indicates that when a business is firmly
established and efficiently managed, the owner enjoys considerable
job security.
3. Increase Income: when operating one’s own business earning and
limited to a salary, if the business is successful, the owner earn the
equivalent of a salary plus a profit on his investment.
4. Opportunity for Constrictive Ideas: because large companies have
research men to develop new products, ideas and methods of the

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ordinary employee has little opportunity to put into operation.
However, he can give full play to his ideas, if he has an idea for the
type of product to be carried out or services to be offered or a new
sale promotion idea, he is free to try new idea.
5. Social Standing: the owner of a business usually enjoys a large
social standing in his community than an employee with the same
income. He is recognized as one of a group who helps to keep the
community going because of his business ability; he is frequently
called to take on active part in the many activities of the
community.
Disadvantages of operating one’s own Business
There are disadvantages in operating one’s business that should be kept
in mind by anyone who is thinking of going into business for himself. The
principal disadvantages are given below:
1. Risk of financial Loss: A business may fail and cause the owner to
lose all or part of the money he has invested. In many cases, the
failures of the business fall than succeed, but most of those that are
in dangers of failure quit before losing all their original investment.
Many fail while they still show a profit and other suffer little or
worker may be injured while on the premises. There may be looses
from flood, fire, burglary, explosion and any other risk as not easily
covered by insurance.
2. Increase Responsibilities: the man who is in business for himself
has many more responsibilities than the ordinary employee and he
may not force them when he goes home at night.
3. Long and Irregular hours: usually, the owner of a small or rapidly
growing business has to give it constant attention. Many owners
work for years without taking a vacation. It is impractical for them
to be away from the business because it is too small for them to
have many assistant to operate the business during their absence.
To develop a business, the owner must often work long hours. An
employee may be sick or quit and owner must do the work.
4. Difficulty or Retirement: it is usually rather difficult for the owner
of a small business to retire without selling the business – selling
one’s business may mean recovering less income from that source
as slopped frequently. As the business ability fails to keep up with
the time and innovation permits the competitors to gradually take
over much of his business so that when his age compels him to
retire, he frequently has little financial savings.
5. Frequently a Low Income: nearly 50percent of the business in this
country are one man business, with no employee, most of these
business are able just to exist rather than to succeed in making
more income for the owner than he could have obtained from some
regular jobs as an employee. However, the great majority of those
who fail to earn satisfactory profits do so because of lack of
experience, poor management ability and laziness.

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Partnership
Partnership is a form of business owned by two or more people. The
minimum number of owners is two while the maximum number is
twenty, but for banking business, the maximum is ten owners while the
minimum is two.
Partnership business is run based on the agreement concerned in the
deed of partnership which all the partners must append their signatures.
It contains the nature of the business the way the partnership may be
ended, method of admitting new partners, capital contribution and
responsibility of each partner, shaping of profit and losses. In case there
is no formal agreement profit and liabilities are shared equally among
partners.

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