What is Concept of Entrepreneurship?

International Entrepreneurship Chosen entrepreneur: Aliko Dangote from Nigeria Use the recommended reading list as required Coursework: 100% The assignment has parts A, B and C see brief Level 7 expectation required is quite high Please use the assignment brief for more clarifications Weekly update will be needed every Monday morning as this will presented in the class first one is due on 03/02/2020.

ENTREPRENEURSHIP
Name of the Student
Name of the University
Author Note

Part A
Profile of firm
REF. DESCRIPTION RESPONSE
1.1 Company age 39 years
1.2 Size (no. of employees/sales turnover) 30000
1.3 Industry sector
Main offerings (try and get on-line brochures,
materials etc.)
Cement, Sugar, Salt, Flour and Steel
1.4 Main Markets
Domestic/International
B2B B2C
Benin, Cameroon, Nigeria, Ghana, South Africa and Zambia.
1.5 If international, no. of markets
Percentage of sales as exports
45%
Demographic profile of Entrepreneur
(Check and see if the entrepreneurs profile is on firm’s website or if he/she has a personal site. Do an on-line ‘person’
search and media search?)
REF. DESCRIPTION RESPONSE
2.1 Age, gender, education, marital status, etc. Age: 62; Gender: Male; Education: Capital High School, Kano, And Marital
Status: Divorced. 3 daughters and 1 adopted son. 15 children from other
marriages (Dangote.com 2020 ).
2.2 Prior work experience/s
Worked for/owned another business?
The individual has been involved in Dangote Business itself for a very long
time. He does not have any other prior experience in the other companies.
The Dangote Group was established as a small trading firm in the year 1977
INTERNATIONAL ENTREPRENEURSHIP RECORDS
Company: Dangote Group Entrepreneur: Aliko Dangote Researcher:
Location: Nigeria
Website https://www.dangote.com/

REF. DESCRIPTION RESPONSE
and this was the same year Dangote had relocated to Lagos for his business
opportunity. In consideration of this, Dangote has been able to expand his
business into a multi-trillion brand and had various operations in Ghana, Benin,
Zambia and Togo. Since then, the Dangote group expanded into various
domains such as food processing, cement manufacturing and freight
management as well (Dangote.com 2020).
The Dangote Group under the leadership of the entrepreneur has been able to
dominate the sugar market in Nigeria and is a supplier to the soft drink
company as present in the country. The group has been able to become a large
industrial group in Nigeria. The firm has undertaken the opportunity to expand
considerably and has approached the Nigerian Ports Authority as well so as to
ensure that the association with the Apapa Port can be made to a great extent
(Adekunle 2014).
2.3 Personal interests, specialist training, etc. Charity, Social development and Politics. The entrepreneur has been involved
in various charities with respect to which he has been able to contribute to the
effectiveness of the society as a whole. Apart from the business opportunities,
Dangote has had a prominent role to play in the funding of the Olusegun
Obasanjo business and has been able to contribute N50 million to the National
Mosque as well and has contributed sufficiently to build the Presidential
Library (Dangote.com 2020 ).
Dangote has been provided with various honours and has become the thirtieth
richest person in the world along with being the richest African in the continent.
Dangote has also been able to donate a considerate amount of 150 million Naira
due to the spread of Ebola (Dangote.com 2020).
The polciitcs is also a field whereby the entrepreneur has been thoroughly
involved in. Additionally, he also came under some controversy whereby he

REF. DESCRIPTION RESPONSE
made controversial gifts to the members of the ruling party despite the highly
publicized anti-corruption drive.
2.4 Other relevant/interesting information In addition to this, the company has approached the Central Bank of Nigeria as
well with the help of which they have been able to undertake the authority of
the transport company as well and maintain a fleet of staff buses
(Dangote.com 2020).
Additionally, the firm is also involved in real estate, banking, transport, oil,
textiles and gas. The business has diversified into various domains like the
telecommunications industry as well and has begun the operations of extending
the 14000 km fibre optic cables in the entire Nigerian region. With
consideration of this, it becomes very effective to understand that the
entrepreneur is visionary and expands into various opportunities as available.
His motto is to work together to build Nigeria (Okafor 2018)
Motivation to start a business
REF. DESCRIPTION RESPONSE
3.1 What factor/s motivated entrepreneur to start up The primary factor which has largely contributed towards Dangote becoming a
CEO is the fact that he was made to handle responsibilities at a very young age.
In consideration of this, Dangote has had a strong acumen which has
encouraged him to work hard and thereby engage in the acquisition of various
brands under his group (Hirsch 2014).
3.2 What levels of support did he/she get from:
Family & friends
Spouse/partner
His parents and family have been a constant support.
The governmental organizations and banking bodies have been continuous

REF. DESCRIPTION RESPONSE
Government agencies
Financial institutions (banks etc.)
support as well (Reed 2014).
The entrepreneur tends to run the business with adequate assistance from his
brother. The business which the entrepreneur is involved in considerately
belongs to the family but it is with the help of the business acumen of the
entrepreneur that he has been able to improve the operations to a great extent.
Net worth: US$10 billion (January 2020)
3.3 What start-up barriers did they face?
(eg lack of finance/management expertise, etc. Additionally, other barriers have been the ability to generate profits in the
initial business operations. Additionally, throughout the career, Dangote has
faced various controversies in regard to his involvement in Politics and related
activities which has affected the brand name. However, the support received by
the firm has been much more than the various barriers (Hirsch 2012).
3.4 How did they overcome these barriers? These barriers were overcome by building the brand image of the firm. He
undertook various loans and expanded to various markets and was able to
establish the business well. Through a well-managed P R team, Dangote has
been able to manage the brand name of the enterprise and successively has
been able to remain in the retail domain and been able to expand his
conglomerate (Nsehe 2013). The entrepreneur has also been able to
overcome the different barriers which are bein faced by the business by using
the diversification strategy as he wanted to avoid the presence of common
products. The oil refinery presents a good source of diversification and in
consideration with this, the entrepreneur has been able to overcome the
different business barriers.
3.5 What challenges do they currently face? The challenges which have been faced by the business can be mentioned to be
the changing economy and related factors. In consideration with this, the firm
engages inconsiderate plans with the help of which they will be able to expand
well (Okafor 2018).

Future Plans
REF. DESCRIPTION RESPONSE
4.1 How has the business changed/grown Over the past few years, the firm has been facing some issues which have led
to change of plans. However, the business has remained very strong and in
association with this, it has a good brand image (Okafor 2018).
4.2 What future plans do they have for the business
Expand/maintain/divest
In the future, the company aims to engage in more diversification activities and
in consideration of this, the firm plans to expand into more sectors (Reed
2014).
4.3 What future ambitions do they have for themselves Future ambitions are as follows:
1. Expand into more sectors: This can be fulfilled with the help pf
diversification strategy.
2. Ensure considerate growth: In all domains and fields.
3. Expand internationally.: To new countiries (Okafor 2018).
4.4 What do they consider to be the secret/s of their
success
The secret to success can be the popularity of the entrepreneur and the
diversity. In such a scenario, the firm is being able to survive well.
Additionally, the business acumen of the CEO and the passion is another secret
of their success (Hughes 2016). The assistance of the family is also considered
as a secret.
4.5 What advice would they give other potential
entrepreneurs
Risk-taking: An entrepreneur should undertake considerate risks in order to
ensure success in the long run.
Market research: Considerable market research has to be undertaken.
Planned expansions: Planned expansions need to be undertaken to avoid
additional losses so as to ensure the success of the firm in the long run (Reed
2014).

References and Bibliography
Adekunle (22 March 2014). "Aliko Dangote - a Lesson for African Entrepreneurs". Vanguard.
Retrieved 11 July 2014.
Akingbade, Akinkunmi (29 September 2016). "As things stand, Nigeria will not achieve its 2023
sugar self-sufficiency plan". Ventures Africa. Retrieved 25 October 2016.
Dangote.com 2020 Dangote.com [online]. Available at: https://www.dangote.com/
(Retrieved on: 11 Feb. 2020).
Hirsch, Afua (3 April 2012). "Africa's richest man is cementing his place in history". The Guardian.
Retrieved 25 October 2016.
Nsehe, Mfonobong (2 April 2015). "Africa's Richest Man Aliko Dangote Enters Joint Venture With
Italian Giant Saipem". Forbes. Retrieved 25 October 2016.
Nsehe, Mfonobong (5 March 2013). "The Black Billionaires 2013". Forbes. Retrieved 3 May 2015.
Ochelle, Felicia Omari (9 November 2015). "Dangote Sugar has a new Managing Director".
Ventures Africa. Retrieved 25 October 2016.
Okafor, Prince (23 February 2018). "Dangote Group's revenue exceeds $4.1bn in 2017". Vanguard
Nigeria. Retrieved 14 April 2018.
Reed, Megan. "Nigerian Businessman Aliko Dangote Named Forbes Africa Person of the Year
2014". atlantablackstar.com. Retrieved 28 December 2014.