UNIT 3: ENTREPRENEURSHIP

Question 1

Entrepreneurship

NB

Answer 1

SOMEONE WHO: recognised opportunities, dares to grasp opportunities, able handle opportunities

Question 2

**Reasons why entrepreneurs are important to the economy of a country:
(NB)

Answer 2

• Entrepreneurs create job opportunities – small businesses in the informal sector create more jobs than larger companies
• Entrepreneurs initiate the production process – they are responsible for producing goods and services and they combine labour and capital
• Without entrepreneurs natural resources remain underground and undeveloped – they are needed to build the economy and import raw materials and process them and export them
• Entrepreneurs are catalysts to generate higher standard of living – entrepreneurs employ other people
- Buy from other businesses and benefit from this

Question 3

*****Promotion of entrpreneurship is important, how should it be promoted using these:
(NB)

Answer 3

1) National Department of Education
• Focus on the curriculum is to help learners to achieve outcomes
• Concentrates on understanding knowledge, skills , values and norms and attitude
• Old subjects have been grouped into 8 learning areas
- Languages, literacy and communication
- Mathematical Literacy, Mathematics and Mathematical Sciences
- Human and Social Sciences
- Technology sciences
- Arts and Culture
- Economic and Management Sciences
- Life Orientation
2) Community involvement in entrepreneurship education
• NTSIKA (Enterprise Promotion Agency) department of trade and Industry created jobs
• Business Clinic at Technikon Natal was established to contribute to economic growth processes developing a wider base of innovative , entrepreneurial inviduals
• Entrpreneurship programmes are shown on TV
• Richards Bay Minerals in Empageni offers comprehensive rage of services to entrepreneurs and small businesses

3) Entrepreneurship at school level
• Learners who sell items or services at school, deliver newspapers, clean cars

Question 4

Factors that hamper the promotion of an entrepreneurial culture:

Answer 4

• Youth is not venturesome and leads to the lack of entrepreneurs
• Inherited systems of education and training failed to create “learning societies”
• After learners leave school they don’t find entrepreneurship important
• New syllabi are drawn up in a way to think like employees
• Does not encourage intitiative
• Education emphasos on conformity
• Perseverance hardly emphasised in primary school
• School ciriculum does not provide learners with business management or technical skills
• Culture also plays a role in promoting entrepreneurship