40 Questions
What is the main purpose of this course?
To explore entrepreneurship and self-employment as career options
What will students be able to do after completing this course?
Demonstrate an understanding of concepts and elements of entrepreneurship
What is one of the learning outcomes of this course?
To evaluate business opportunities, develop a business idea and assess its viability for successful implementation
How will students work in this course?
In teams of 10
What will be the class activity in the first week?
Discussion of course outline and course expectations
What do students learn about in this course?
The meaning of entrepreneurship and personal characteristics of entrepreneurs
What is one of the characteristics of successful entrepreneurs?
Behaviours associated with the practice of entrepreneurship
What will students be able to do after completing this course?
Mobilise resources for the execution of a business plan
At what age did Colonel Sanders start working as a farmhand?
10
What was Colonel Sanders' occupation at the age of 13?
Painting horse carriages
What event occurred in November 1939 that affected Colonel Sanders' business?
A fire destroyed his motel
What was the amount of Colonel Sanders' cheque when he retired at 65?
$105
At what age did Colonel Sanders get divorced?
20
What was Colonel Sanders' occupation before he took over the Shell Service station?
Army soldier
How many KFC outlets were estimated to be in operation at the time of Colonel Sanders' death?
6,000
What was Colonel Sanders' 'Secret Recipe' for?
Frying chicken
What is the reward for risking capital and receiving financial, psychic, and social risks?
Profits
What is the characteristic of an entrepreneur in terms of buying and selling prices?
Buys at a certain price and sells at an uncertain price
What type of entrepreneurship is focused on creating jobs and raising productivity?
High Growth Entrepreneurship
What is the result of entrepreneurship in terms of wealth distribution?
The poor getting richer
What is the role of entrepreneurship in economic development?
Raising productivity through new product innovation
What type of entrepreneurship is focused on solving social problems?
Social Entrepreneurship
What is the result of entrepreneurship in terms of resource utilization?
Harnessing resources that were previously lying idle
What is the relationship between entrepreneurship and small business roles?
They are closely related
Who is the richest person in Africa?
Aliko Dangote
What company did Aliko Dangote found and chair?
Dangote Cement
How many million metric tons of cement can Dangote Cement produce annually?
48.6 million
When did Aliko Dangote's fertilizer plant in Nigeria begin operations?
March 2022
How many branches does Antrak Group of Companies have worldwide?
146 branches
What did Dr. Alhaji Asuma Banda start doing in his early twenties?
Bought cattle from Mali, Niger, and Burkina Faso
What did Mrs. do for Ghanaian women?
Educated them on skincare
What is the net worth of Aliko Dangote as of 1/30/23?
$13.5B
According to the course outline, what should each team member bring to the next lecture?
A copy of the registration documents
What activity is scheduled for Week 8 in the course outline?
Completion of business registration forms
When is the Case Study Assignment due?
Week 9
What is the topic of Week 9 in the course outline?
Resources for Projects
What should each student submit with the first assessment in Week 9?
The individual self-assessment instrument
How many minutes will each team have to present their business plan?
Some minutes
What is the topic of Week 10 in the course outline?
Summary Business Plans
When is the Summary Business Plan Assignment due?
Week 10
Study Notes
Course Overview
- The course explores entrepreneurship and self-employment as career options
- Students will learn about the meaning of entrepreneurship, personal characteristics of entrepreneurs, and behaviors associated with the practice of entrepreneurship
Course Objectives
- Demonstrate an understanding of concepts and elements of entrepreneurship
- Analyze the role of entrepreneurship in economic development
- Understand behavioral characteristics associated with successful entrepreneurs
- Evaluate business opportunities, develop a business idea, and assess its viability for successful implementation
- Develop summary business plans for a small business start-up
- Take the necessary steps for the formation and operation of an entrepreneurial team and work collaboratively to achieve shared objectives
- Mobilize resources for the execution of a business plan
Team Formation
- Each team should visit the Registrar General’s website and print a copy of the registration documents for the team’s chosen form of legal ownership as specified in the business plan
- Each team member should bring a copy of the registration documents to the next lecture
Business Registration
- Students will complete business registration forms in groups and present the outcome in class
- Each student should complete the individual self-assessment instrument and submit it with the first assessment for discussion
Resource Requirements
- Teams will discuss the resource requirements for their projects and decide on funding sources
Business Plan Presentation
- Each team will be allowed some minutes to present its business plan to the class
- The presentation will summarize the business plan
Entrepreneurship Case Study
- Colonel Harland David Sanders, also known as Colonel Sanders, is a famous entrepreneur
- He had a difficult early life, but eventually developed a "Secret Recipe" for fried chicken
- He opened a motel with a restaurant, which was destroyed in a fire, and later rebuilt it
- He finally retired at 65, but tried to commit suicide, and later became successful with KFC outlets worldwide
Forms of Entrepreneurship
- High Growth Entrepreneurship
- Scalable Start-up Entrepreneurship
- Corporate Entrepreneurship
- Social Entrepreneurship
- Subsistence Entrepreneurship
- Large Company Entrepreneurship
Role of Entrepreneurship in Economic Development
- Creation of new ventures and jobs
- Raising productivity through new product innovation
- Commercialization of new inventions
- Harnessing resources that were previously lying idle
- Redistribution of wealth – the poor getting richer?
Examples of Entrepreneurs
- Aliko Dangote, a Nigerian industrialist, is the richest person in Africa for the 12th year in a row
- Dr. Alhaji Asuma Banda, CEO of Antrak Group of Companies, created jobs for over 500,000 people globally
- Mrs. [Name Not Provided], took the initiative to educate Ghanaian women on skincare and established a successful business
Learn about team formation and registration processes in entrepreneurship. Understand the importance of legal ownership and registration documents in business planning.
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