Business Management and Entrepreneurship Challenges: Contemporary and Emerging Perspectives

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The dynamic competitive business environment globally is very demanding to both managers and entrepreneurs internationally. Business trends and continuous innovations have transformed business development in Brazil, Russia, India, China and South Africa which has played a considerable role in the worldwide economic growth. Small industry entrepreneurs display new goods and services that have outshined the old boundaries of the old knowledge created new jobs, opened new marketplace. In Kenya, the newly structured administrative County government system has created opportunities for entrepreneurs and more so has attracted potential investors. Counties are now becoming new centres with new influx making their ways to the counties for development agenda and investment projects. Entrepreneurship is the most important aspect of economic development in the last decade of business history. Starting and operating one’s own business has become attractive for individuals from different walks of life. Such proprietors could be a man or woman, someone from rich or poor family background, a technologist or someone without a stylish technical experience, a college graduate or high school dropout or even a villager who has not seen the door of the classroom. The driving forces behind this desire to start a new business enterprise are: desire for self reliance, breaking the poverty cycle, creation of employment and supplementing incomes and meagre resources from other sources of employment. This paper sets out to define entrepreneurship, highlight the main variables of entrepreneurship and business management, describe entrepreneurial characteristics, articulate mechanisms for nurturing entrepreneurs, highlight potential pitfalls for emerging entrepreneurs together in the current vibrant business environment and examine business as a customer as well as a centre of excellence.