Session (1.3.1) Enterprise and Entrepreneurs

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Objectives

By the end of this session, you should be able to:

define enterprise;
define entrepreneurship;
explain what characteristics make a good entrepreneur.

Engage

Have you ever thought to yourself “this would be a great way of making money…”? Did you do anything about it? Like most people, you probably did not do anything. But some people have thoughts like these and then put them into actions. Sometimes they fail, but they keep going until they succeed. These people are called entrepreneurs.

Can you name any famous entrepreneurs from your country?

Watch this short video for an introduction to this session.

WATCH – Entrepreneur (YouTube)

Learn

Start by reading the Business in Context section on page 36 and answer the two questions that follow.

The other key word for this session is enterprise. An enterprise is essentially a business, and the term is often used to describe the act of someone starting their own business to provide goods or services.

Read this summary file on enterprise, entrepreneurs and risk and reward.

READ AND MAKE NOTES – Summary file 1.3.1

Now read and make notes on pages 36 to 39 of your coursebook, using our summary file to enhance your notes.

Apply

Being an entrepreneur can be rewarding, but also comes with risks.

Watch this video that takes you through both the rewards and risks of being an entrepreneur. Make a list of each as you watch the video.

WATCH – Risk & Reward (YouTube)

Complete Activity 3.1 on page 39 of your coursebook.

Consolidate

Look at the Case Study on page 39. What opportunity did Lalita spot? Additionally what problem does her business help solve? Describe two characteristics of an entrepreneur that Lalita has shown.

Add the two key words Enterprise and Entrepeneur to your glossary.

Complete row one in the Check your Progress box on page 55 of your coursebook.