Entrepreneurship

These two additional years will equip learners with skills that
will better prepare them for the future, whether it be:
 Employment

 Entrepreneurship

 Skills Development (Further Tech-Voc training)

 Higher Education (College)

 COURSE OUTLINE
1.Introduction to entrepreneurship
2.Developing a Business Plan
3.Market Need Analysis
4.Marketing Mix (4Ps plus 3 Ps)
5.The 4Ms of Operations
6.Implementing a Simple Business Plan
 EXPECTED OUTPUT

Design a Business Plan

 Entrepreneurship
a process of actions of an entre pre neur who is a
person always in search of something new and
exploits such ideas into gainful opportunities by
accepting the risk and uncertainty with the
enterprise.
 According to George Gilder –
From “The Spirit of the Enterprise”
 “It is making the World forever NEW.
 It is taking AGGRESSIVE Actions.”

According to Joseph Schumpeter

“It is destroying the old order

and creating new ones.”
Characteristics of
Entrepreneurship:
 1. Economic and dynamic activity:
 Entrepreneurship is an economic activity because
it involves the creation and operation of an
enterprise with a view to creating value or wealth
by ensuring optimum utilization of scarce
resources.
 2. Related to innovation:
 Entrepreneurship involves a continuous search for
new ideas. It is a continuous effort for synergy
(optimization of performance) in organizations.
3. Opportunity potential:
“Opportunity potential is the likely level of return
or compensation to the entrepreneur for taking on
the risk of developing an idea into an actual
business venture.” Without opportunity potential,
the efforts of entrepreneurs would remain only an
abstract and a theoretical leisure activity.
 4. Risk bearing:
The essence of entrepreneurship is the
‘willingness to assume risk’ arising out
of the creation and implementation of
new ideas. New ideas are always
tentative and their results may not be
instantaneous and positive.
Developing an
Entrepreneurial attitude
 Characteristics
Being an entrepreneur requires specific characteristics and
skills that are often achieved through education, hard work,
and planning.

Risk Taker
Businesses face risk. Entrepreneurs minimize risk through
research, planning, and skill development.

Perceptive
Entrepreneurs view problems as opportunities and
challenges.

Curious
Entrepreneurs like to know how things work. They take the
time and initiative to pursue the unknown.
Imaginative
Entrepreneurs are creative. They imagine solutions to
problems that encourage them to create new products and
generate ideas.
Persistent
True entrepreneurs face bureaucracy, make mistakes,
receive criticism, and deal with money, family, or stress
problems. But they still stick to their dreams of seeing the
venture succeed.
Goal-setting
Entrepreneurs are motivated by the excitement of staring
a new business. Once achieved, they seek out new goals
or ventures to try.
Hardworking
Entrepreneurs need a great deal of energy to see a
venture start and succeed. Yet they are not deterred by
the long hours to achieve their goal.
Self-confident
Entrepreneurs believe in themselves. Their self-
confidence takes care of any doubts they may
have.
Flexible
Entrepreneurs must be flexible in order to adapt
to changing trends, markets, technologies,
rules, and economic environments.
Independent
An entrepreneur’s desire for control and the
ability to make decisions often makes it difficult
for them to work in a controlled environment.
Entrepreneurial Process:

 Entrepreneurship is a process, a journey,

not a destination; a means, not an end.