1.0 Introduction
1.1 Background to the Study
A rapidly changing economic environment, characterized by such phenomena as the globalization and deregulation of markets, changing customer and investor demands, and ever-increasing product-market competition, has become the norm for most organizations. To compete, they must continually improve their performance by reducing costs, innovating products and processes, and improving quality, productivity, and speed to market.
Beyond the start-up and survival phases of an organization’s life lies the potential for its growth. Yet not all organizations move along the growth and expansion path. One factor explaining the presence or absence of growth is the entrepreneur. Studies have linked psychological characteristics of the organization to growth (Sexton and Bowman- Upton, 1986; Davisson, 1991; Cooper and Gascon, 1992). Others have examined the motivation of entrepreneurs towards growth but have not explained the extent to which motivational factors determine organizational growth (Liao, Welsch and Pistrui, 1999).
The intolerable gap between the rich and the poor countries has in these five decades hit the conscience of mankind and has informed the search for the role investment in human resources has helped in bridging this yawning gap overtime. This has informed the current emphasis on the transformation of the most economies to be anchored on the development, planning and utilization of its human resources, though this attempt had also been glaring with earlier efforts in development through the accumulation of material capital which has waned and has been replaced with a new dimension of human capital (Meier, 1978), Meier and Rauch, 2000, Meier and Stiglitz, 2001).
The ongoing emphasis hinges on the fact that: improvement on the quality of life of the people who constitute the main agents of production is the central focus of development...
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