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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL

ADRRI JOURNALS (www.adrri.org) ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, No. 7(3), May 2016 The Motives of Zimbabwean Entrepreneurs: A Case Study of Harare Gerald Munyoro1, Mukai Chikombingo2 and Zivanai Nyandoro3 1, 2

Graduate Business School, School of Business Science and Management, Chinhoyi University Technology, Zimbabwe 1Email: [email protected] 2Email: [email protected] 3

School of Marketing & Management, Coventry University, Priory Street, Coventry, United Kingdom 3Email: [email protected] Correspondence: [email protected]

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Received: 13th May, 2016 Revised: 27th May, 2016 Published Online: 31st May, 2016

URL: http://www.journals.adrri.org/ [Cite as: Munyoro G., Chikombingo, M., and Nyandoro Z., (2016). The Motives of Zimbabwean Entrepreneurs: A Case Study of Harare. Africa Development and Resources Research Institute Journal, Ghana: Vol. 25, No. 7(3), Pp. 113, ISSN: 2343-6662, 31st May, 2016.]

Abstract This study investigates the factors that motivate entrepreneurship and the nature of the relationship between internal and external factors that influence individuals to engage in entrepreneurial activities in Zimbabwe. There has been phenomenal growth in entrepreneurial activities over the past decade as the informal sector eclipsed formal in terms of employment numbers as the Zimbabwean economy continued to decline. The entrepreneurial phenomena and its attendant characteristics is investigated from the preto the post-independence era. A sample of one hundred (100) entrepreneurs operating within the transport, retail and educational sectors based in Harare were interviewed using a self-administered questionnaire. Content analysis was used to analyse the data. The study findings showed internal factors that motivate entrepreneurship that include the desire to do something new, quest for personal independence and need for achievement and recognition, dissatisfaction with paid jobs and dead-end career prospects. External motivational factors include; the aspiration to earn more money, exploiting available opportunities and resources and, enhancing personal status and growth. The main

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE recommendation is that government and key stakeholders should develop a national framework in order to enhance the entry and long-term survival of aspiring and established entrepreneurs. Keywords: entrepreneur, motive, entrepreneurial activities, external factors, internal factors, economy, developed economies

INTRODUCTION Many nations globally have been promoting entrepreneurship whose positive contributions to economic growth are well documented. Contributing to the discourse, Bekmirzaeva (2013) suggests that small businesses constitute over nighty percent of global enterprises. Deakins and Freel (2009) underscore that entrepreneurs are leaders willing to take risk and exercise initiative, taking advantage of market opportunities by planning, organizing, and employing resources. Quite significantly, this view is applicable to entrepreneurs both locally and globally. More so, this can be generalised that Zimbabwean entrepreneurs who continue to shape the economic well being of the nation. Schneider (2007) is of the opinion that in developing countries small businesses are not only a major contributor to the overall trade activities of a country, but also employs a sizeable part of the population. Interestingly, in many developed countries such as American, Asian and European economies, central governments play pivotal roles in crafting policies that support entrepreneurs. It can be noted that in a number of ways, such views are applicable to entrepreneurs both locally and globally. Mauchi et al (2011) opined that the current state of the Zimbabwean economy is a cause for concern for young people as they are confronted with the major problem of unemployment. Despite the emergence of black entrepreneurs during the pre and post 1980 independence eras there is lack of empirical evidence on factors that drive and motivate entrepreneurship activities. This research explores the motives of Zimbabwean entrepreneurs, in particular how government, stakeholders and development partners can proffer and offer relevant support to sustainable initiatives by entrepreneurs. This study, therefore, sought to answer the following research questions: (a) what are the factors that motivate entrepreneurial activity in Zimbabwe? (b) How can the internal and external factors be used in developing a national framework for entrepreneurship development in Zimbabwe? LITERATURE REVIEW It is significant to understand the term ‘entrepreneurship’ before embarking on issues related to area under discussion. Thus Humbert and Drew (2010) suggest that there remains no consistency in what defines entrepreneurship despite sizeable research having been made in respect of entrepreneurship hence no commonly agreed definition has been reached at as stated by Kobia and Sikalieh (2010). Smallbone and Welter (2006) are of the opinion that entrepreneurship entails an individual’s commitment to capital accumulation and business growth while the definitions by Schumpeter (1934) infer innovativeness and job creation characterised by taking risk and motivated by achievement as argued by Kent (1985). Risk in entrepreneurship is well articulated by Kuritiko and Hodgetts (2004) who observed that the process requires the willing to take calculated risks in terms of time, the ability to formulate an effective venture team, the creative skill to marshal needed resources and to recognise opportunity where there is chaos. Therefore, in this study entrepreneurship can be described as the implementation of an individual’s talent using resources (material or immaterial) available and expanding the use of any such resources in future.

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE Theories of entrepreneurship Scholarly theories continue to emerge on the field of entrepreneurship hence the importance of theoretical frameworks in the development of the field cannot be overemphasised. Noteworthy is that the theories have their foundation in psychology, economics, sociology and management among other disciplines. In this research, five entrepreneurship theories will be discussed namely: Resource-based, economic, sociological, opportunity-based and biological theories, psychological and entrepreneurial innovation theories. Resource-based entrepreneurship theories The importance of financial, social and human resources is stressed by Aldrich (1999) and Davidson and Honing (2003) given that the aspects enhance the individual’s ability to detect and act upon discovered opportunities. Alvarez and Busenitz (2001) argue the resource-based theory of entrepreneurship stipulates that access to resources by founders is an important predictor of opportunity based entrepreneurship and new venture growth.  Human capital entrepreneurship theory Becker (1993) elaborated that the human capital approach allows for an empirical application as it borrows from optimal investment theory by highlighting income distribution. The underlying factors of the human capital theory as argued by Becker (1975) are experience and education as supported by Chandler and Hanks (1998) who observed that the knowledge gained from education and experience represents a resource that is heterogeneously distributed across individuals and understanding differences in opportunity identification and exploitation. Scuchtz (1971) suggests that the theoretical concept of the theory is basically derived from investment theory in physical capital using marginal analysis where agents decide in a dichotomous way on whether the expected returns of going entrepreneurial will be higher than being an employee. Therefore, Kim et al (2003) come to the conclusion that human capital factors are positively related to becoming a nascent entrepreneur.  Financial theory of entrepreneurship These theories suggest that people with financial capital are able to acquire resources to effectively exploit entrepreneurial opportunities and set up a firm to do so as suggested by Clausen (2006) while empirical research has shown that the founded of new firms is more common when people have access to financial capital as stated by while Blanchflower et al (2001). Though significant, a huge number of authors contest this view indicating that the number of entrepreneurs started new ventures and firms without much capital and financial capital is not significantly related to the probability of being promising entrepreneurs as pointed out by Hurst and Lusardi (2004). In this sense, capital cannot be necessarily ruled out but to a greater extent the ability to identify and commit oneself to new opportunities has been seen as key entrepreneurial features of individuals as interpreted by Casson (1982), Kirzner (1973) and Schumpeter (1934).  Social capital entrepreneurship theory Literature shows that to a greater extent, access to larger social ties help in business start-ups. As suggested by Shane and Eckhardt (2003) in this case an individual may have the ability to recognise that a given entrepreneurial opportunity exist, but might lack the social connections to transform the opportunity into business start-up. Furthermore, Classen (2006) states that entrepreneurs are surrounded by a larger social network structure that constitutes a significant proportion of their opportunity structure. Aldrich and Cliff (2003) and Garner et al (2004) make assertions that it is important for

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE emerging founders to have access to entrepreneurs in their social network, as these people represent a kind of cultural capital that growing ventures can draw upon in order to detect opportunities. Economic entrepreneurship theories The economic entrepreneurship theories are deeply rooted in the classical and neo-classical theories of economics as well as the Austrian Market Process. The cited theories conduct an exploration of economic factors in bolstering entrepreneurship behaviour and attitudes.  Classical theory According to Cantillon (1755), this theory does not view the entrepreneur as a production factor as such, but an agent that takes on risk and thereby equilibrates supply and demand in the economy. Ricardo (1817) asserts that celebration of the virtues of free trade, specialization and competition was the core aspect of the classical theory. The British industrial revolution which took place in the mid-1700 and ended around 1830s gave birth to the theory. Say (1803) portrays the classical movement as one which saw the entrepreneur taking the leading role in the production and distribution of goods in a competitive marketplace. In Murphy et al (2006) classical theorists’ three modes of production are revealed as land, capital and labour although the shortcoming of this theory is that it failed to explain the dynamic upheaval by entrepreneurs of the industrial age.  Neo-classical theory Neo-classical theorists such as Alfred Marshall developed on the criticisms that emerged regarding classical theories. Bula (2012) noted that Alfred Marshall introduced an innovation function of an entrepreneur by continuously seeking opportunities to minimize costs and ultimately maintaining equilibrium in the economy through perfect competition. Marshal et al (2006) argued that the importance of exchange coupled with diminishing marginal utility created enough impetus for entrepreneurship in the neo-classical movement. The shortcomings of this theory were related to perfect competition not allowing innovation and entrepreneurial activity among other issues of importance. Criticism on the neoclassical movement also gave birth to the Austrian Market Process.  Austrian Market Process Schumpeter (1934) influenced the APM model as he brought forward the dimension that concentrated at human action in the context of an economy of knowledge. In other words, Marz (1991), states that Schumpeter hardly denied that the process of accumulation is the ladder to social power and social prestige; but he thought the very mainspring of the exercise of the entrepreneurial function is the powerful will in asserting economic leadership. Aghion and Howitt, (1997) postulate that the model’s core aspect is profit brought about by reward and inducement to innovations as well as risk taking in entrepreneurial activities. Murphy et al (2006) indicate the fact that knowledge is communicated throughout a market system, innovation transpires and entrepreneurs satisfy market needs. Kirzner (1973) noted that the earlier neo-classical framework did not explain such a process but assumed perfect competition, carried closed-system assumptions, traced observable fact data and inferred repeatable observation-based principles. The AMP model circumstantially denied the cited assumptions as stated by Acs and Audretsch (1988) who observed that fraud, deception, taxes and controls also contribute to market system activity. Sociological entrepreneurship theory According to Ruef (2001) enterprises can be formed as a result of teams with three principles underlying team formation distinguished: choice on the basis of homophily, purposive choice, and choice 4

AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE constrained by context or opportunity structure. Society thus becomes the basis for the analysis of sociological entrepreneurship theory as stated by Landstrome (1998). Kamm et al (1990) also note that much of the literature is based on the assumption that teams are a deliberate choice of a lead entrepreneur or set of founders. In addition, readers are exposed to Reynolds (1991) who identified four social contexts that relate to entrepreneurial opportunity namely social networks which build social relationships; life stage context which involve analysing life situations and characteristics; experiences of people and their sociological background as push factors to become an entrepreneur and lastly population ecology whereby environmental factors play a role on the success of an entrepreneur. Bird (1989) explains that there are psychological benefits derived from relationships between team members unlike solo entrepreneurs who bear the burden of decision making and face consequences while entrepreneurial teams spread the responsibility across individuals. Psychological entrepreneurship theory The psychological entrepreneurship theories put emphasis on personal characteristics in the understanding of entrepreneurship as cited by Landstrom (1998) who suggested that the level of analysis in psychological theories is the individual. In this part of the study the point of departure is going to be personality traits; need for achievement and locus of control.

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Personality traits theory To the trait theorists there are enduring inborn qualities or potentials of the individual that naturally make him an entrepreneur according to Simpeh (2011). Adding to the comprehension of the discourse, Coon (2004) defines personality traits as stable qualities that a person shows in most situations. Although no commonly agreed set of traits/inborn qualities is existent from the literature available, this model generally gives an understanding into traits or inborn qualities by way of pinpointing characteristics associated with an entrepreneur. Simpeh (2011) suggested that some of the characteristics or behaviors associated with entrepreneurs are that they tend to be more opportunity driven (they nose around), demonstrate high level of creativity and innovation, and show high level of management skills and business know-how. A critical dimension in understanding the traits is also the issues of optimism which is naturally adopted by entrepreneurs. Furthermore, such entrepreneurs are also defined by their emotional resilience, great mental energy, commitment, and focus, the desire to challenge and change the status quo among other positive traits. Despite lacking empirical research evidence, the traits theory can be best understood through a closer look at one’s characteristics/behaviors and making a general conclusion that one has the inborn qualities to become an entrepreneur.  Locus of control One of the early propagators of the locus of control concept in the 1950s is Julian Rotter. The locus of control is referred to as the individual’s perception about the underlying main causes of events in his/her life as suggested by Rotter (1966). Through inference, a locus of control concept is hinged on the belief of a relationship between what is known as the internal control orientation on whether the result of human actions solely rely on what they do internally or on events outside human beings’ control external control orientation. Several thinkers among them (Cromie, 2000; Koh, 1996; Robinson et al., 1991) have documented empirical findings that conclude that the internal locus of control is an entrepreneurial characteristic. Rauch and Frese (2000) also found that business owners have a slightly higher internal locus of control than other populations. In a student sample, internal locus of control was found to be positively associated with the desire to become an entrepreneur Bonnett and Furnham (1991).

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE  Need for Achievement theory The need for achievement theory as propounded by McClelland (1961) pointed out that human beings have a natural inclination or need towards success, accomplishment, excellence or achievement. McClelland (9161)’s observation is a somewhat amplified version of Pervin (1980)’s argument that the trait model focuses on enduring inborn qualities and locus of control on the individual's perceptions about the rewards and punishments in his or her life. What can be deduced from these suggestions is that the inborn inclination towards achievement and excelling drives the entrepreneurial thought processes. Yet Johnson (1990) categorically noted the gap in research evidence propping up the achievement motivation theory and entrepreneurship. Still, Shaver and Scott (1991) submitted that achievement motivation may be the only convincing personal factor related to new venture creation. Mohar, et al (2007) strengthened the line of argument and concluded that risk taking and innovativeness, need for achievement and tolerance for ambiguity had positive and significant influence on entrepreneurial inclination. Entrepreneurial innovation theory In giving depth to the aspect of entrepreneurial innovation Schumpeter (1947) noted that it was the doing of new things or the doing of things that are already done in a new way. Mckeown (2008) viewed Peter Drucker as the entrepreneurship guru who understood innovation to be an essential instrument used by entrepreneurs to exploit change as an opportunity, further Drucker argued that innovation is a discipline on its own that is capable of being learned as well as practiced. Amiri and Marimaei (2012) viewed entrepreneurship as a key competency creativity and innovation. Further studies by Christensen and Bower (1995) also necessitate what is termed disruptive innovations which are predominantly intimidating to existing market leaders because they represent competition coming from an unexpected direction. Bula (2012) asserts that the gurus of innovation argue that an experiment may fail but one has to keep on trying until success is realized. Opportunity-based entrepreneurship theory Entrepreneurs identify opportunities, assemble required resources, implement a practical action plan, and harvest the reward in a timely, flexible way Sahlman and Stevenson (1991) hence the opportunitybased entrepreneurship approach provides a wide-ranging conceptual framework for entrepreneurship research according to Fiet (2002). Shane (2000) argues that the opportunity based theory is anchored by names such as Peter Drucker and Howard Stevenson. Drucker (1985) noted that entrepreneurs exploit the opportunities that change in technology and consumer preferences a view that contradicted Schumpeter (1934) who argued that entrepreneurs do not cause change. Wiklund (1998), Zahra (1991) and Stevenson (1983) suggest that entrepreneurial firms base their strategies solely on opportunities that exist in the environment, using opportunities as a starting point for developing strategies. Developing the opportunity construct, Shane and Venkataraman (2000) put forward that entrepreneurship involves the nexus of two phenomena: the presence of lucrative opportunities and the presence of enterprising individuals. Biological entrepreneurship theories According to Eagley (1995) cited in Bula (2012) several of the academic theories of gender differences offer explanations based on deeply seated cultural or even biological differences between men and women. In this regard, most literature construes gender differences as aspects affecting the entrepreneurial process. Schumpeter (1999) further suggests that risk has long been a central concept in the entrepreneurship literature observed by various scholars. Authors generally agree that 6

AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE entrepreneurial activities involve risk-taking however, Brockhaus (1980) Aldrich and Wiedenmeyer (1993) and Gartner (1989) in Bula (2012) assume that research has failed to consistently find risk-taking propensity to be a trait distinguishing entrepreneurs from others. Powell and Ansic (1997) studied business decision-making and their research came to a conclusion that women prefer lower risks than men, especially in financial contexts. Consistent with this view are Sexton and Bowman-Upton (1990), whose study also found evidence that indicated a lower preference for financial risks among female than among male entrepreneurs. Analysis of theories of entrepreneurship Examining and evaluating the theories of entrepreneurship inculcates depth in the overall research outcomes of this study. Developing nations, Zimbabwe included are in the present day more concerned about how to make the best of entrepreneurship among its citizenry. The reflection attained from the above discussion shows that entrepreneurship as a field has significant and an assortment of pertinent theories. Indeed, Zimbabwean entrepreneurs conform to the economic, psychological, sociological, anthropological, opportunity-based, biological and resource-based theories found from a body of empirical research evidence. To a greater extent, entrepreneurial innovation in the country’s is lacking in what Hak choi (2008) would suggest that the innovation process in less developed countries (LDC)s is often that of imitating and adapting, instead of the traditional notion of new product or process discovery and development. Having defined the term ‘entrepreneurship’ as well as discussing the theories of entrepreneurship, it is also important to understand the history of entrepreneurship in general and Zimbabwe in particular. Thus the ever evolvement of entrepreneurship globally has been necessitated by the innovative nature of conducting businesses in the business world. The earliest theories of entrepreneurship were developed by Cantillon around 1725 as suggested by Smith and Chimucheka (2014). This means that the study on entrepreneurship stretches back to the 17th and 18th centuries seen through the works of Cantillon and Adam Smith and the great depression era of the 1930s which led to the downfall of world economies as noted by Romer (2003). As Acs and Audretsch (2008) argue that contemporary theories of entrepreneurship generally focus on the recognition of opportunities and the decision to exploit them. It is also important to note that this study will only concentrate more on the history of entrepreneurship in Zimbabwe rather than globally as the study tries to understand what motivates Zimbabweans to start their own business an area which has not been researched on as literature suggest. With reference to Zimbabwe, the evolvement of Zimbabwean entrepreneurship is well noted. The discussion covers the periods in which black Zimbabweans started participating in the economic development of the country and these periods are divided eras. The first one being Pre independence entrepreneurship era of 1950s-1980s and up to present. This is important as it will give the background of what motivates Zimbabweans to start their own business as discussed earlier on in the study. Pre independence entrepreneurship (1950s-1980) This era which is largely referred to as colonial Rhodesia, was characterised by various socio-economic and political ills that led to gross marginalisation of blacks. Sanders et al (2005) correctly put forward the notion that dominant reasons or motives why individuals participate in entrepreneurial activities are primarily based on individuals who perceive a business opportunity or view entrepreneurship as their last resort and thus feel compelled to start businesses because other work options are either nonexistent or unsatisfactory. Ndiweni and Verhoeven (2013) concur with this argument and note that in other

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE marginalized parts of the country individuals are involved in entrepreneurship as a protest against the government (the Smith Regime in this instance) whose role has little relevance to their lives. Ndoro (1996) however observed that as part of the legacy of colonial rule, most of the activities in the informal sector were deemed to be illegal. In that respect, communities seek to redress social grievances through economic creativity as articulated by Hagen (1957); Shapero and Sokol (1982). First Decade after independence entrepreneurship (1980- 1990) Maphosa (1998) brought to the fore the idea that building on cultural values of self-reliance, independence, and pride, some communities prefer to survive in spite of the government. This has been seen to be a key driver of entrepreneurship in this category given the history of colonial rule. Despite the nation’s attainment of independence in 1980; glaring inequalities between blacks and whites; the inheritance of minority-focused policies and regulations greatly affected the economic performance such that blacks continued to seek for the redress of the existing inequalities through venturing into entrepreneurial activities. Mazingi and Kamidza (2011) suggested that as a result of racial factors, the whites who constituted 4% of the country’s population controlled over 90% of the economy in terms of owning the means of production while blacks who accounted for 96% of the population only controlled 10% of the economy. The Riddel Commission of 1981 as suggested by Ndiweni and Verhoeven (2013) reviewed about 28 Acts which prohibited informal activities and recommended that they be repealed, a development which opened opportunities for entrepreneurs. The conclusion that can be drawn in this instance is that small businesses and entrepreneurial activities were used as critical tools of reversing the vestiges of the colonial past. Second Decade entrepreneurship (1990-2000) As earlier alluded, the lack of viable alternatives compelled many to engage in informal activities in spite of several challenges that characterise this sector such as: lack of security; organisation; recognition; social protection and legal representation; lack of government and institutional support and inaccessible resources as argued by Ngundu (2010). The adoption of the Economic Structural Adjustment Program had major repercussions on the country’s economic performance thus the major alternative still was to adopt entrepreneurial skills. Kamidza et al (1999) agree that inadequacies of ESAP included lack of stakeholder consultations during the design of the programme; lack of national ownership; failure to factor in the likely impact of exogenous factors particularly drought; a combination of frictional and structural vulnerability; and skewed access to resources. Saunders (1996) stated that the working class bore the brunt of ESAP, as public expenditure on healthcare declined by 39% in 1994-95, inflation averaged over 20%, and over 55,000 Zimbabweans lost their jobs. Third Decade entrepreneurship (2000-2010) Large businesses in this era continued to muscle out small businesses because of the capability to acquire cutting age technological equipment that is a necessity in the ever changing economic environment. The fast track land reform also took off in year 2000 coupled with many economic changes. Fundira (2007) noted that some Zimbabwean businesses benefited from the situation by taking advantage of poor enforcement of financial regulations to exploit ordinary Zimbabweans through criminal strategies such as money laundering, as in the case of ENG Capital. Despite such misgivings entrepreneurship through small businesses continued to thrive. Literature on entrepreneurship is also littered by assumptions that entrepreneurs always thrive and become successful which is not necessarily true considering the case of Zimbabwe. Coupled by dynamic economic trends, motivations also seem to be more inclined to the dynamic environment.

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE Zimbabwean entrepreneurship from 2010 to date The Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZimAsset) economic blueprint introduced in 2013 is the current economic policy being undertaken by Zimbabwe. According to the Zim Asset document, Zimbabwe experienced a deteriorating economic and social environment since 2000 caused by various factors such as land reform, declining economic growth, hyperinflation, poor performance of revenue inflows, high debt among others. The continued collapse of the formal sector in Zimbabwe in the last decade has also contributed to the growth of entrepreneurial skills and the mushrooming of small businesses as other work options remain inexistent. Matsvai et al (2014) added on to this argument and stated that as a result of the economic meltdown, industrial capacity utilization declined dismally, companies closed, and thus giving birth to a thriving informal sector. Matsvai et al (2014) also attributed the economic underperformance to political developments and government policies which played a pivotal role in the adverse movements in economic variables in Zimbabwe since the turn of the new millennium. Another dimension is brought about by Yamamoto (2014) who argued that exacerbating this situation was the perception that independent entrepreneurs were persecuted, rather than encouraged, by the government. Having looked at the history of entrepreneurship in Zimbabwe, it is also significant to discuss what is motivation and its implications on entrepreneurship. As Murali (2013) suggests, motivation implies an inner state that causes a person to act towards the attainment of goals and it is a dynamic force setting a person into motion or action. Motivation is an internal psychological feeling which has influence on the likelihood of exploiting entrepreneurial opportunity as stated by Shane (2003). Furthermore, McClelland (1985) argues that motivation is based on the capacity to derive satisfaction from establishing, maintaining and restoring positive relationships with others. As Zimmerman and Chu (2013) suggest, one recurring area of interest in the study of entrepreneurship is what motivates individuals to become entrepreneurs. It is not surprising, therefore to note that it is very significant to study entrepreneurial motives in order to foster entrepreneurship because motives influence the entrepreneurial process as noted by Shane (2009). That said, empirical evidence from the likes of Yalcin and Kapu (2008)’s study which was centred on Kyrgyzstan entrepreneurs, shows that the desire to earn more money and the lack of appropriate job opportunities were key motivators. In addition, Robichaud et al. (2001)’s study indicates that motivation of entrepreneurs falls into four distinct categories: Extrinsic rewards; independence/autonomy; intrinsic rewards and family security. According to Swierczek and Ha (2003) small enterprise owners in Vietnam are more motivated by challenge and achievement than the necessity for a career and economic security while Fulop (1994) found that Hungarian entrepreneurs were motivated by opportunity, independence, money, achievement, power and necessity. Filipino entrepreneurs were found to be motivated by the desire to earn more money and to be independent as stated by Chu et al (1998). In the African context, Chu et al (2007) concluded that Kenyan and Ghanaian entrepreneurs are motivated by increasing their income and creating jobs for themselves and are the leading factors motivating them to become business owners and to be (Fatoki 2010) autonomous, creative and raise capital. Therefore, most appearing motivation factors in literature are: independence, money, achievement, opportunity, work related motivations and work related reasons. As rightly observed by Herron and Sapienza (1992) excluding motivation from the study of business creation results in an incomplete theory. That said, this is not a true reflection of what happens in other part of the world such as Africa in general and Zimbabwe in particular. There are no studies on what motivates an entrepreneur from a Zimbabwean perspective hence the need to do the research in this area. 9

AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE METHODOLOGY A survey design was used in the study to identify the factors that motivate entrepreneurs and how the factors can be used to develop a national entrepreneurship framework in Zimbabwe. Given the limited time and budgetary constraints, qualitative research designs are much easier to plan and carry out (Berkwitts and Inui, 1998). Silverman (2011) states that qualitative techniques are extremely useful when a subject is too complicated to be answered by a simple yes or no hypothesis. The population of the study comprised two thousand (2000) entrepreneurs in Harare registered with the Ministry of Small and Medium Enterprises Development and crossed-checked with databases from the Zimbabwe National Chamber of Commerce, Confederation of Zimbabwe Industries, Institute of Directors and Small Enterprise Development Corporation (SEDCO). The study was based in Harare the capital city where most of the economic activities occur as inferred by Bailey (1987) and Singleton et al (1993). One hundred (29 transport sector, 32 retail sector and 17 education sector and 22 other sectors) randomly sampled entrepreneurs operating in Harare, participated in this study. The age range of participants ranged from 20 years to 70 years. The data that was collected included demographic, behavioural and attitudinal (Marchington and Wilkinson, 2005). A self-administered questionnaire was used to collect data in this study. Questionnaires are effective in collecting primary data (Robson, 2001). In addition, secondary data was collected from text books, journals, newspapers and the internet. As Wegner (2002) points out that data is divided into primary and secondary data. The use of questionnaires in qualitative and quantitative research design is noted by Moore (2006) and Rickinson and Hay (2008). Content analysis was used to analyse the data and the process involved grouping and categorising data into themes (Munyoro, 2014). RESULTS AND DISCUSSIONS The study established that the majority of respondents were at least 30 years with 30.4% being aged between 30-40 years, 39.1% between 40-50 years while 5.8% between 60 and 70 years. Only 2.9% were aged 20 years and below while 21.7% were between 20 and 30 years. Zeroing in on the age component gives one the conclusion that entrepreneurs above forty years are more established, experienced and well to do individuals whose businesses have evolved and can be traced back to the early 90s. Persons aged 20 years and below are still to learn the ropes and have an uphill task to become more involved in entrepreneurial activities with only 2,9% being observed, whereas the 21.7% representation of persons between the ages of 20 and 30 is quite significant. Given that persons under the age of 40 are highly regarded as the country’s future, a higher percentage of their sustainable involvement would be sufficient to push the economic agenda. In this regard, Nyoni (2004) suggested that investment levels are not sufficient to generate employment for the 300 000 school leavers on an annual basis while Mauchi et al (2011) adds that gone are the days, when in Zimbabwe, education used to be a guarantee for any type of job. The greatest proportion of the respondents were in the retailing business (31.88) followed by 28.99% in the transport sector, 20.29% in other sectors and 17.39% in the education sector. 1.45% of the respondents did not answer to the question pertaining their age. The retailing sector can be traced back to the preindependence and still thrives in the post-independence era hence diversion in this sector has been minimal. Kanyenze (2006) found that after independence, in an effort to keep the industry on its feet there had been a robust practice of import substitution which had allowed a bit of both creativity and innovation. This undoubtedly marked the rise of cross border trading which to a larger extent sustained the retailing sector. The transport sector also has significant representation in this study and likewise has been a sector dominated by black Zimbabweans. Entrepreneurship in education has risen to become a 10

AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE new venture creation that gained much attention in the mid 1990s and has seen a handful of schools being established to date. Sixteen motives of entrepreneurship were presented on the questionnaire which sought to establish why entrepreneurs venture into businesses among other factors that inhibit the establishment of a business such as lack of finance. From data gathered, the motives of Zimbabwean entrepreneurs were found to be strongly centred on 8 themes listed as follows: To earn more money; Desire to be my own boss; Availability of opportunities; Personal Growth/satisfaction; Lack of a job or career; Dissatisfaction with current job; To do something new and the Need for achievement or recognition. FINDINGS In this study, establishing the motives of Zimbabwean entrepreneurs is a critical component in the understanding of how entrepreneurship can be enhanced for the greater benefit of the economy. The fact that the economy of Zimbabwe is currently facing a myriad of challenges has generated interest on what measures the country could come up with in-order to cushion the economy. Various bodies of literature especially the theories were found to be informative and further broaden the scope of the entrepreneurship field. Zimbabwean entrepreneurial motivations generally follow the economic, psychological, sociological, anthropological, opportunity-based, biological and resource-based theories. Looking at the history of Zimbabwean entrepreneurship shows that the pre and post-independence eras have seen the field transforming due the different socio-economic settings. The analysed data indeed confirmed that motives are quite significant although they do not follow a uniform pattern, a development which has a bearing on the lifespan of entrepreneurial activities. Driven by the outcomes of the data gathered, the major themes drawn from this study are presented as follows: Internal factors As established in the research findings, these features are internal to entrepreneurs or people in general and are thought to influence people to start their own businesses. Enterprising is significantly regarded to be an act by an individual; hence it is considered that any human being involved in entrepreneurship has some force within him/herself that drives entrepreneurial strength. Bridge et al (2003) are of the opinion that these factors are motives one is born with hence the argument in entrepreneurship field that entrepreneurs are born but not made. This research revealed that entrepreneurial motives are not mutually exclusive or inseparable but are used as a way of presenting the internal issues that drives one to become an entrepreneur. Listed below are the internal factors found in this study in their order of importance.  Desire to do something new. As suggested by the results of the study, the desire to do something new, was identified as influential and one of the guiding principles of entrepreneur, a view also supported by Deakins and Whittam (2000) who noted that it is worth bearing in mind that the start-up and development process can concur over a considerable period of time and what it means is that initial business ideas take time to formulate. This is not surprising looking at yesteryear entrepreneurs such Aiden Mwamuka who started his business not only to be independent but also to introduce new methods. In a way Mr. Mwamuka was the first to pioneer high standard services in black communities in Harare and this was exactly what motivated Mr. Mwamuka to be in business (Wild, 1997). Indeed, companies such as Bell Lab, IBM, Marks and Spencer Procter and Gamble, 3M and many others around the world came as a result of the desire to do something new (Drucker, 2004). 11

AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE  To be independent in life/ to be my own boss The evidence in this research suggested that most people want to be their own boss just as the evidence in literature on entrepreneurship shows the same. This is supported by (Deakins and Whittam, 2000) who noted that entrepreneurs are driven by the desire to be independent, to be their ‘own boss’ and to achieve a growth in business in particular and the economy as a whole. Again another perfect example back in history is Mr. Mwamuka who wanted to prove a point that he was capable of running a business and making decisions independently without any superior as was the case when he was teaching. Relatedly, people from minority groups whether in Zimbabwe or other countries were found to have started their own business because that is the only way they could show that they can be their own boss. The popular Gazaland in Harare that is dominated by the Shangani people from Chipinge is a case in point in this regard.  Dissatisfaction with present job. Evidence from this research also showed similarities to motives of entrepreneurship in South Africa and Nigeria. It can be observed that in the past ten years, large companies have eliminated more jobs than they have created making the uncertainty affect workers’ confidence and dissatisfaction. The landmark July 2015 supreme court ruling that allowed employers to terminate employment on a three-month notice exacerbated the situation in the case of Zimbabwe. The implication of such situations including the given examples is that dissatisfaction with one’s current job in most cases leads to entrepreneurship. On the other hand, entrepreneurs with their years of experience in a certain industry can be able to see some shortcomings of that industry and may decide to introduce new ideas that can result in the introduction of new products and service that obviously will benefit the market, society and the country as was the case with Econet CEO Strive Masiiwa.  Lack of a job or career. From the above discussion it also follows that lack of a job or career as suggested by the findings of the research coerces people to become entrepreneurs. Respondents were found to have become entrepreneurs by default given the paralysed industry and lack of formal occupation in the country. They however exhibited the energy and stamina to satisfy their goals and persistency to establish ways of generating income despite economic hardships. As discussed elsewhere in this study, entrepreneurs’ ambition to satisfy themselves influences the degree to which they seek to create something great, important and significant to themselves and to the world at large.  Need for achievement or recognition The results of this study clearly show that entrepreneurs are determined to start businesses to gain approval, recognition and achievement. It is clear from the empirical evidence of entrepreneurs in U.S.A that having a successful business brings a feeling of achievement. Examples of such entrepreneurs internationally are Steve Jobs (Apple accessories) Mark Zuckerberg (Facebook) and Bill Gates (Microsoft) to mention a few. Going back to the Zimbabwean history Denis Makomva, a trained builder, went into business because he wanted to be recognised by the community as a successful businessman. He got this nickname ‘King of African business men’ because he wanted to be recognised by the African and white communities. He could only write his name despite his success in running his business empire (Wild, 1997). Most entrepreneurs strongly want to break new ground by offering new products and services thus they feel that by starting a new business they are offering a valuable service to their customers.

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE External factors Having looked at the factors that are internal to people that are thought to influence entrepreneurs to start businesses, this section therefore looks at the external features that motivates an entrepreneur to start a business as elaborated below.  To earn more money/money. The most popular motive in this research was found to be the prospect of monitory rewards through starting businesses. This supports Fatoki (2010) and Yalcin and Kapu (2008) who suggest that most serial entrepreneurs are motivated by the need to generate extra money or monetary profits. That said the fact still remains that for an entrepreneur, having your own business can result in financial independence and this is an enormous achievement for most people especially when the economy is in a period of decline as has been the situation in Zimbabwe since 2000. Back in time, Jane Maruta is also a known example of an individual who despite all the challenges she faced managed to set up a firewood sales point in Ardbennie Road in Harare. This is supported by Wild (1997) who noted that the study on Jane demonstrates how Jane struggled to secure her freedom from poverty.  Availability of opportunities and Resources Most entrepreneurs in this research indicated that their decision to start businesses was as a result of opportunities and availability of resources, a distinct feature as suggested by Stevenson (1990) and Shane and Venkataraman (2000) who stated that the availability of resources such as capital, human assets, raw material, infrastructure and utilities play a big role in motivating an entrepreneur. The same view can be bolstered by the fact that a number of small firms started at Chiadzwa in Manicaland as a result of the availability of diamonds while the youth were specifically considered since the government was motivating the starting of businesses as a result of the availability of natural resources (Government publications, 2013). The case of Mr Boka is also significant in that the availability of natural resources such as gold and valuable agricultural land that motivated him to be an entrepreneur. What it means is that Boka saw the opportunities in the availability of natural resources and decided to start businesses in the related areas and this move made him one of the richest entrepreneurs in Zimbabwe (Wall Street Journal, 2010).  Personal growth/ satisfaction With reference to the findings of this research entrepreneurs were also found to be daring enough to do what they genuinely enjoyed and achieve inner satisfaction and growth. As supported by McClelland (1961), many entrepreneurs are motivated to do what they do as a result of attaining self-satisfaction; hence the need to perform difficult and challenging tasks as Strive Masiiwa of Econet has shown. Noticeably, even if they fail at times with reference to this study, the addiction to solve thorny issues and the inherent and complex challenges of starting a company is what keeps them inventing and growing. RECOMMENDATIONS  Education on entrepreneurship Academic knowledge and training skills should be ushered to prospective entrepreneurs in the mainstream education curricular. Harnessing entrepreneurial skills, attitudes and behaviours in schools, universities and vocational training centres dotted across the country is critical in realising new opportunities thus there is need for adequate preparation before one can start a business. Such new prospects quite significantly mitigate youth unemployment, marginalisation, poverty and social trials 13

AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE and tribulations. A practical approach towards grooming entrepreneurs from the younger generations also entails greater benefits in the long term. Therefore, seminars, training programmes, conferences, advocacy programs and workshops can nurture the rewards of entrepreneurship. Interestingly, Mauchi et al (2011) concluded that there is strong evidence that entrepreneurship education is still in the early stages of development whilst Zimbabwean tertiary institutions still predominantly adhere to traditional teacher- centered methods of delivery and assessment.  Promotion of an entrepreneurial culture The Zimbabwean policy makers and government at large should provide an enabling environment for entrepreneurs as well as to encourage the cultivation of an entrepreneurial culture amongst the population. This can be done through review of the education curriculum, giving subsidies to the entrepreneurs, establishing ideal business policies and finally initiating mechanisms that are flexible and more accessible especially to women and youth. Lourenco et al. (2013) stress that the development of an entrepreneurial mind-set and/or enterprising skills is on the agenda for developing graduates in order to enhance their employability  Encouraging policies Regulation policies in any sector have the potential to nurture or stall the economic involvement and progress in any given country. The slow pace at which entrepreneurship in Zimbabwe is moving is attributable to stringent policies. Government, stakeholders and development partners should champion the deregulation of such policies that are deemed restrictive by entrepreneurs. Such policies include the restrictive labour laws whose prescribed minimum wages for employees inhibit the formal setting up of a business since upcoming entrepreneurs depend on low wage employees. Continued review of the ease of doing business should be implemented. Other laws such as the Shop Licensing Act, Liquor Act, Food and Food Standards Act, the Second Hand Goods Act, the Banking Act and the Customs and Excise Act may have been approved to standardise and police activities in the small business sector however, the same laws have often usher in tangible hindrances to the functions of entrepreneurs intending to start businesses.  Criteria or instruments that govern support for entrepreneurs Drawing ideas and expanding thoughts from all the factors that were found to motivate entrepreneurs, it may be wise for the government and interested parties to come up with a criterion that includes the assessment of motives when offering support to entrepreneurs. This enables the government at large to identify which businesses are sustainable and the individuals with the potential of staying in business over a considerable period of time. Another observation made is that the integration of support through practical assessments and exercises of entrepreneurs in-order to do away with the depletion of talent and the fully exploit the existing talent pool is critical.  Entrepreneurial mentorship Support for entrepreneurs can be rendered through mentorship programs that rope in successful role models like Devine Ndlukula of Securico, Phillip Mataranyika of Nyaradzo, Strive Masiyiwa of Econet and Shingi Mutasa of TA Holdings. Such programs can include twinning of the said successful entrepreneurs with emerging entrepreneurs where the former provide experience based education on starting, running and building sustainable businesses. Again, policy makers and supporting agencies should facilitate the holding of such programs and take the initiative of seeking guidance and direction

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE on behalf of entrepreneurs. At a lower level, families, friends and relatives should offer unrelenting support to new ideas, innovations and creativity brought about by entrepreneurs.  Entrepreneurial innovation With Drucker (1985) in mind, entrepreneurs in the developing world are more of imitators than innovators while Schumpeter (1999) described them as creative imitators. Though the two descriptions are not entirely true with respect to all Zimbabwean entrepreneurs, it is necessary to note that less innovation in the strictest sense can be identified due to a number of reasons. As a response to the challenge of lack of innovation, this study observed the need to embrace newer technologies at government level and putting in place infrastructure in that regard. Mobile technologies, social media, machinery and information communication technologies are the cornerstone of the creation of newer innovations by entrepreneurs who subsequently produce new products and services. Entrepreneurs should therefore benefit and be able to tap on the information to undertake commercial projects that benefit the country. CONCLUSIONS It is clear from various discussions that emanated from this research that entrepreneurs come from different backgrounds hence the diversity of the motives that leads one to become an entrepreneur. The motives discussed particularly in relation to Zimbabweans also explain the reasons why some businesses are a huge success than others. Such variety in mentality and motivation also interestingly draws a demarcation between why entrepreneurs fail while others succeed. The motives found in this study were grouped between internal and external factors. Given the prevailing economic problems, most entrepreneurs were found to be conducting businesses with the primary motive of earning money to cater for varying resource and financial responsibility; a view understood both in the context of established and new entrepreneurs. Youth entrepreneurship is also constrained by lack of financial access, experience, unfavourable policy conditions and lack of entrepreneurial education. Going forward, a practical curricular on entrepreneurship in schools, colleges and universities can advance the enhancement of entrepreneurial skills and their contribution to economic development.

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE Amiri, N. S. and Marimaei, M. R. (2012). Concept of Entrepreneurship and Entrepreneurs Traits and Characteristics: Scholarly Journal of Business Administration, Vol. 3(2) pp.20-25 Bailey, D. K (1987). Methods of Social Research: Free Press Baumol, W. J. (1993). Entrepreneurship, Management, and the Structure of Payoffs: Cambridge: The MIT Press Becker, G. S. (1975). Human capital, a theoretical and Empirical Analysis with Special Reference to Education. (1st ed) NATIONAL BUREAU OF ECONOMIC RESEARCH: NEW YORK : Columbia University Press Becker, G.S. (1993). Human capital, a theoretical and Empirical Analysis with Special Reference to Education. (3rd ed) pp. 101-119: Chicago: The University of Chicago Press. Bekmirzaeva, K. (2013). Business Environment for SMEs: Comparison of the Czech Republic and Uzbekistan: Unicorn College Benzing, C., Chu, H. M. and Szabo, B. (2005) “Hungarian and Romanian Entrepreneurs in Romania – Motivation, Problems and Differences”, Journal of Global Business. Berkwitts and Inui (1998). Making Use of Qualitative Research Techniques: Journal Of General Internal Medicine: Springer: 13(3): 195–199 Bird, B. J (1989) Entrepreneurial Behaviours: London: Scott, Foresman Birley, S. and Westhead, P. (1994). “A Taxonomy of Business Start-up Reasons and Their Impact on Firm Growth and Size.” Journal of Business Venturing Blanchflower, D. Oswald, A. and Stutzer, A. (2001). “Latent entrepreneurship across nations?”: European Economic Review: 45,680-691 Bonnett, C and Furnham, A. (1991). Who wants to be an entrepreneur? A study of adolescents interested in a Young Enterprise scheme. Journal of Economic Psychology, 12, 465-478 Brockhaus, R. (1980). “Risk Taking Propensity of Entrepreneurs,” The Academy of Management Journal 23: 509520. Bula H, O. Evolution and Theories of Entrepreneurship: A Critical Review on the Kenyan Perspective, International Journal of Business and Commerce Vol. 1, No.11: Jul 2012[81-96] Bygrave , W and Zacharakis. A (2011). Entrepreneurship (2 nd Ed.), John Wiley and Sons, Inc. Library of Congress Cataloguing-in- Publication Data, USA. Byrnes, J. P; Miller, D. C and Schafer, W. D (1999). “Gender Differences in Risk Taking: A Meta-Analysis.” Psychological Bulletin, 125(3), 367–383. Campbell, A.J. (2003), Engineers, Entrepreneurs & Wealth Creation: from idea to product, Cantillon, R. (1755). Essai Sur La Nature Du Commerce en General. London: Gyles. Casson, M (1982). The Entrepreneur: An Economic Theory: Barnes and Noble Books, New Jersey, USA Casson, M (2003). The Entrepreneur: An Economic Theory: (2nd ed) Cheltenham, UK: Edward Elgar. Chandler, G. N. and Hanks, S. (1998). A Study of Human Capital Theory and the Performance of Venture Capital Firms Bower , J. L and Christensen, M. C. (1995). Disruptive Technologies: Catching the Wave: Harvard Business Review Chu, H. M; Benzing, C; and McGee C. (2007). Ghanaian and Kenyan Entrepreneurs: A Comparative Analysis of Their Motivations, Success Characteristics, and Problems. Journal of Developmental Entrepreneurship, 12(3), 295–322. Chu, H.M., Kara, O., Zhu, X. and Gok, K. (2011) Chinese entrepreneurs: Motivations, success factors, problems, and business-related stress. Journal of Chinese Entrepreneurship. Chu, H. Leach, E. and Manuel, R. (1998). Cultural effect and strategic decision among Clausen, T.H. (2006). “Who identifies and Exploits entrepreneurial opportunities”, Retrieved from www.ccsr.ac.uk.

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AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE (ADRRI) JOURNAL ISSN: 2343-6662 ISSN-L: 2343-6662 VOL. 25, NO. 7(3), MAY, 2016 PUBLISHED BY AFRICA DEVELOPMENT AND RESOURCES RESEARCH INSTITUTE ZAHRA, Shaker (1991): "Predictors and financial outcomes of corporate entrepreneurship: An explorative study". Journal of Business Venturing, 6, 259-285 Zahra, S. A. (1995) Corporate Entrepreneurship and Financial Performance: The Case of Management Leveraged Buyouts: Journal of Business Venturing: Vol. 10: pp 225-247 Zimbabwean Government publications on Small and Medium enterprises Zimmerer, T.W. and Scarborough, N.M. (2001), Essentials of Entrepreneurship and Small Business Management, Prentice Hall, Upper Saddle River, NJ. Zimmerman, M.A & Chu H.M ( 2013). Motivation, Success, and Problems of Entrepreneurs in Venezuela. Journal of Management Policy and Practice.

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