N4 Entrepreneurship & Business Management


1. Identify and discuss the characteristics of an entrepreneur


Introduction


South Africa is a developing country compared with the other relatively wealthy countries of the world. Although there are many countries which are economically worse off than South Africa, the opposite is also true. There are many countries, whose citizens are far better off than the majority of South Africans. Only we can do something about it. Trying to play catch-up might take us forever. We need to leapfrog ahead to become, once again, a role model to the world – an economic model this time! And for this South Africa and Africa need entrepreneurs and many of them. Each entrepreneur will contribute towards the economic growth of the country. Direct benefits of economic growth are reduced unemployment, better living conditions and less crime.


PAUSE FOR THOUGHT


Africa’s economic problem is they don’t consume what they produce. We consume what we don’t produce.” Dr Kenneth Kaunda (former Zambian President)


1.1 What is entrepreneurship?


Entrepreneurs are invaluable to our country. They start new businesses, employ people and generate income. This enables the government to collect more income and business-related taxes. It sounds odd, but taxes are very good for the country. They are used by the government to develop the country by building schools, roads, hospitals and housing and providing services such as water and electricity. It is for these reasons that the government should be doing everything in its power to assist entrepreneurs. The assistance is mostly aimed at creating favourable business conditions.


Key words to define an entrepreneur: • Unfulfilled need • Opportunity • Profitable business • Uncertainty • Risk-taker


The hunter spirit


The spirit of entrepreneurship as symbolised in African culture as the spirit of the hunter. Individuals possessing it are expected to be: • enterprising • restless • enduring • innovative • have the capacity to work hard and to take risks • improvise


DEFINITION


An entrepreneur is a person who is able to recognise an unfulfilled need in the community, and use this opportunity to start a profitable business. Success is not guaranteed (uncertainty), but an entrepreneur is prepared to take the risk.


2


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172