ETP 2601

ENTREPRENEURIAL
SKILLS

STUDENT NUMEBER:
12034134
 QUESTION 1
1.1 The Social factor that contributed to moulding Matseleng to become an
entrepreneur is family, role model because Matseleng family supported or
assisted her with more capital for the business and she associated with her
dad and helped him with clients while she was helping her dad she desired, or
she was confidant to start her own business.
1.2
• financial risks
Matseleng finance had five offices in Soweto and other in southern suburb this
impacted her finance because when you have offices in the malls, the expanses are
huge she had to close some and focus on the township office.
• career risk
This can be caused by leaving a successful career to start a business. Matseleng left
her successful career and she did not know that if the business fail, she might have
difficulties in finding other employment and that she might have to rebuild her career.
1.3 Expertise is sound knowledge of what things are and how they work. This
knowledge not only aids idea generation, but also supports the valuation component
of creativity (Heerwagen 2002). Intellectual ability (expertise) is required to put ideas
into context, to see linkages between things, redefine problems and envision and
analyse possible practical solutions (Dorf & Byers 2008). Knowledge can be
acquired through interactions with other experts, practical experience, or formal
education.
1.4 planning skill
1.5 Business premises are an area or place that an entrepreneur designates from
where to carry out business operations. The premises usually represent the physical
location of the business in terms of the land and buildings occupied by that business.
A business can have a single location or multiple locations. This may imply different
production and distribution premises in a single location or multiple geographic
locations. Premises can be in the form of a building, such as factories, an open shed
(for a car wash) or an open yard for agricultural implements or timber products.
Premises can also be represented by a caravan or office block where business is
being conducted from. Even if the businesses are home based, the suitability of the
premises still must be ascertained. In today’s world of ecommerce, the virtual office
(web-based) locations still need to consider the same production plan decisions. And
as pointed out by Petty et al. (2012), the internet, for example, blurs geographic
boundaries and expands a small company’s reach to customers almost anywhere.
Matseleng had five offices in Soweto and the southern suburbs, which impacted
on their finances because when you have offices in malls, the expenses are
huge. They had to close some and focus on the township office, where most of
our business comes from
 1.6 Type of finance that Matseleng used to start her business is her own
capital because with her only teacher’s salary as funding she approached her family
members to assist her with more capital for the business.
1.7A vision is the ultimate desired picture the entrepreneur strives to create. A
vision is often written as an idealistic statement about the desired future of the
business. Matseleng, she plans on fulfilling the vision of the business by
recruiting smaller estate agencies to join and work under the snooks brand
because this is going to be mutually beneficial and that her vision gas always
been to establish their brand all over the Gauteng region and the nationally.
1.8 ways in which an entrepreneur can develop an effective business network
are.
• hosting your own networking events and inviting others to attend
• attending industry-related events hosted by others
• using the media for networking events available near you
• creating a business profile on social media sites and actively participating with
others such as LinkedIn
The business network that Matseleng has developed affiliating with business
associations and actively participating in their programmes and attending
community forums that facilitate networking Matseleng help black estate agents
in the township to learn more about running a business and formalising it.
1.9 The type of entrepreneur that Matseleng is after 22 years in operation is
small-scale entrepreneur because she is a formal-sector entrepreneur with 42
employees with four big offices and four satellite ones.

QUESTION 2
2.1 entrepreneurial venture
Meshack had the potential for growth by obtaining contracts to supply national
retailer’s and he also sets a strategic objective by identifying problems people are
facing and bringing the solutions to solve those problems and he used social
media to have access to market and let his potential customers to know about
their product and services.
Small businesses focus on developing an established product to customers.
2.2Proactiveness relates to forward-looking, opportunity or advantage- seeking
behaviours that enable one to see or create gaps in the environment that others
do not yet see. Proactiveness relates to taking the initiative and pursuing new
opportunities which may or may not be related to the present line of operations,
 and the introduction of new products and brands ahead of the competition
(Sharma & Dave 2011).
Meshack display proactiveness by creating/designing African-themed toys for
boy& girls. Meshack saw the opportunity which may not be related or to the
present line of operations by creating or designing African-themed toys o. For
girls' toys he started with a black African doll called Mahle (a Zulu word meaning
beautiful). Mahle also introduced her special haircare range for kids. Teaching
children to keep their hair well maintained without harsh chemical treatments.
The boys' range of toys will be launching an action figure called Captain Africa
aka CA. CA teaches young boys to respect and protect women and to grow up to
be a man of good character.
2.3The importance of goal setting
Entrepreneurs are driven by a great need for achievement. This need propels
them to set reasonably high personal and business goals. Goals help
entrepreneurs to mark the points they need to make on their business journey.
While a vision may be an idealistic picture of the future, goals help turn the vision
into tangible actions that need to be taken to realise this vision.
Five goals that Meshack has set for the business are as follows.
• The goal should be achievable.
• Th goal should be measurable.
• Passion drive goal achievement
• Determine the resource required to achieve the goal.
• Goal setting should be aligned to the overall business picture.
2.4 A distribution channel is a system of relationships established to guide the
movement of a product. A distribution channel can either be direct or indirect. In a
direct channel, there is no intermediary – the product goes directly from producer to
user. In an indirect channel there are one or more intermediaries between producer
and user. Meshack distributed his product in a direct channel because he was
supplying national retailers like Game, pick n Pay, Dis chem and Toys R Us with his
African dolls.

2.5.
• Passion: Meshack started a business called Kaelo Black Beauty design
manufactures and he started by creating a black African doll for girls called
Mahle and he also created a toy for boys called Captain African AKA CA.
• Creativity and innovation: Meshack made new and usable ideas to solve
problems by designing black African dolls and
• Good human relation: Meshack advice to people was to focus on solving
problems and that they will get money for the solutions he also said “ use
social media aggressively, it is the easiest way to have access to the market.
 I Koketso Malele, with student number 12034134 hereby declare that I have
read the Unisa policy on plagiarism and the student disciplinary procedures
documents, made available on my Unisa module site, and I understand what
constitutes plagiarism, collusion, and academic fraud. I declare that this this
examination is my own original work and that I have not allowed anyone else
to borrow or copy my work.