Theory of Controlled Appetite

Abstract

The orientation of an average Nigerian, at present, is geared towards the acquisition of educational certificate for the purpose of seeking job opportunities, most especially, government (white collar) job. This is evidenced in the increased applications for government job vacancies with great enthusiasm (and in larger numbers) as opposed to the attitude of the same unemployed youths towards entrepreneurial opportunities. Despite the fact that efforts are being made by the government to promote entrepreneurship (being the major means of gainfully employing the teeming youths to reduce the rates of unemployment and on the overall, improve the Gross Domestic Product), most of these enterprises collapse no sooner than they were established. This, more often, is not unconnected with the fact that most of the entrepreneurs, especially at small scale levels, operate the enterprise with no conscious application of the Business Entity Concept of Accounting. In addition to this, business expenditures were usually managed without clear understanding of what constitutes business needs with a view to separating them from wants. All these lead to the situation whereby most of the promising enterprises are seen as not profitable hence the continuous desire for white collar job at the expense of such promising enterprises. In order to address these challenges with a view to making the enterprises become more appealing to the teeming youths, control is needed in the aspects of business expenditures. It is on the basis of this control element to the business expenditure (a component part of the adapted circular flow of business income), that this theory, theory of controlled appetite, was propounded. It is believed that where the provisions of the theory are applied to the letter, there will be a significant improvement in promotion of entrepreneurship activities, such that where the other challenges militating against enterprises are addressed by the concerned authorities, enterprises will not only become more profitable but will be able to survive also. In the long run, a lot of youths will embrace entrepreneurship hence reversing the present orientation.