The paper "Overview on the Problems Aliko Dangote Has Faced on His Way to Success " is a great example of a business case study. This retrospect seeks to establish the relationship between an entrepreneur and their immediate environment (Barreto, 2013). Basically, the paper focusses on Aliko Dangote who is an entrepreneur from Nigeria, Africa. The analysis revolves around his background, family, and his growth as an entrepreneur including what motivated him to venture into business (Barreto, 2013). In the entrepreneurial world, growth and development are determined by a number of factors including risks involved, and the chances of success or failure in the business venture are imminent possibilities (Smith et al, 2014).
Therefore, apart from dealing with the successes, the paper also offers an overview of the problems Dangote has faced on his way to success (Kumar, 2014). History, development and growth of the entrepreneur Aliko Dangote, a Muslim Hausa, was born on 10th of April 1957 in Kano, Kano State of Nigeria. He comes from a wealthy and prominent family (Fayemiwo et al, 2013). Dangote is a great-grandnephew to Alhaji Alhassan Dantata, who was the richest person in Africa by 1955 when he died (Fayemiwo et al, 2013).
It is his interest in the business that drove him to this field of entrepreneurship (Ibeh, 2015). Dangote studied in Kano for both primary and secondary education and then attended Alazahar University which is in Cairo, Egypt where he got his degree in business studies (Fayemiwo et al, 2013). He began by trading in building supplies and other commodities in Kano and later moved to Lagos by June 1977. Due to his self-motivation, persistence and success in his business activities, he saw the need for incorporating other companies (Ibeh, 2015).
He did this in 1981 by incorporating two companies and later on included others which currently form The Dangote Group. Role of his Family and Socio-cultural Background in his entrepreneurial success Dangote depended on Alhaji Sanusi Dantata, his grandfather, who provided him with capital for the start of the business (Fayemiwo et al, 2013). Besides support from his grandfather, he borrowed N500, 000 from Sani Dantata, who is the uncle, to set up his business.
Although the loan was intended to be settled in three years, he managed to settle it within three months. This indicates his determination to make it as an entrepreneur (Barreto, 2013). This financial support from the family for him is advocated for by the resource-based theories of entrepreneurship in which Dangote can be said to have had the chance to venture into business because he got the capital he needed for the job (Smith et al, 2014). Moreover, his success in business can be attributed to his background in business education and working with his uncle Sani Dantata.
Having graduated in business education, it is possible to say that his business skills were sharpened and he was eager to try the new skills in the real world (Barreto, 2013). When he had the chance to work with his uncle, it provided him with the experience he needed to succeed in business (Fayemiwo et al, 2013). Basing on the encounters he had in his social life through the first-hand experience under his uncle, it is an indication that sociological theory of entrepreneurship greatly influenced his success in business (Smith et al, 2014).
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