Orientation to teaching Economic and Management
Sciences
OTE2601
Assignment 1
, 1. Teachers often asked why they must teach entrepreneurship to all learners if South Africa
does not need all learners to be an entrepreneur. Why do you think is it important to teach
entrepreneurship at school? Give five reasons for your answer.
• Entrepreneurs create job opportunities. In countries all over the world, small businesses,
especially in the informal sector, create more jobs than large companies.
• Entrepreneurs initiate the production process. They are responsible for producing goods
and services. The entrepreneur combines labour, capital, technology and raw materials
or components in the production process. The production process has a wide range of
meaning and includes trading activities (e.g., selling groceries at a spaza shop) or
rendering services (e.g. babysitting).
• Without entrepreneurs, natural resources remain underground and undeveloped.
Entrepreneurs are needed to build the economy of a country. South Africa may be rich in
natural resources like diamonds, gold, oil, coal and so on, but remember that a country
does not need natural resources to build a strong economy and increase its wealth. Most
of the countries in the Far East have few natural resources but most of their citizens are
entrepreneurs, for example, Japanese entrepreneurs import raw materials, process them
and then export them throughout the world (as they do with iron ore).
• Entrepreneurs are catalysts to generate wealth and a higher standard of living. This is an
outstanding feature of the free market system as compared with socialism.
Entrepreneurs usually employ other people, which improves their standard of living. In
buying products from other businesses, entrepreneurs benefit such businesses
• One cannot say that educated entrepreneurs will necessarily be better entrepreneurs,
but they will be better equipped to know when, where and how to start new ventures.
They will also be better equipped to maximise their talents within the community, for
their own sake as well as that of the community as a whole. Entrepreneurship education
offers the youth new economic tools to change their view of themselves. The use of new
terminology, business plan and the experience of generating income from their own
ideas have an empowering and transformational effect on many youths.
2.1. The benefits of opening a Nedbank Stokvel account?
• 10% on grocery or school supplies when shopping at selected stores.
• R 10 000 burial cover for each member (R 20 per month)
• Zero account maintenance fee
• Access to a Nedbank pay-as-you-go account on the Nedbank Money app, with no-
monthly maintenance fees.
• Easily add or remove members using USSD cell phone banking.
Sciences
OTE2601
Assignment 1
, 1. Teachers often asked why they must teach entrepreneurship to all learners if South Africa
does not need all learners to be an entrepreneur. Why do you think is it important to teach
entrepreneurship at school? Give five reasons for your answer.
• Entrepreneurs create job opportunities. In countries all over the world, small businesses,
especially in the informal sector, create more jobs than large companies.
• Entrepreneurs initiate the production process. They are responsible for producing goods
and services. The entrepreneur combines labour, capital, technology and raw materials
or components in the production process. The production process has a wide range of
meaning and includes trading activities (e.g., selling groceries at a spaza shop) or
rendering services (e.g. babysitting).
• Without entrepreneurs, natural resources remain underground and undeveloped.
Entrepreneurs are needed to build the economy of a country. South Africa may be rich in
natural resources like diamonds, gold, oil, coal and so on, but remember that a country
does not need natural resources to build a strong economy and increase its wealth. Most
of the countries in the Far East have few natural resources but most of their citizens are
entrepreneurs, for example, Japanese entrepreneurs import raw materials, process them
and then export them throughout the world (as they do with iron ore).
• Entrepreneurs are catalysts to generate wealth and a higher standard of living. This is an
outstanding feature of the free market system as compared with socialism.
Entrepreneurs usually employ other people, which improves their standard of living. In
buying products from other businesses, entrepreneurs benefit such businesses
• One cannot say that educated entrepreneurs will necessarily be better entrepreneurs,
but they will be better equipped to know when, where and how to start new ventures.
They will also be better equipped to maximise their talents within the community, for
their own sake as well as that of the community as a whole. Entrepreneurship education
offers the youth new economic tools to change their view of themselves. The use of new
terminology, business plan and the experience of generating income from their own
ideas have an empowering and transformational effect on many youths.
2.1. The benefits of opening a Nedbank Stokvel account?
• 10% on grocery or school supplies when shopping at selected stores.
• R 10 000 burial cover for each member (R 20 per month)
• Zero account maintenance fee
• Access to a Nedbank pay-as-you-go account on the Nedbank Money app, with no-
monthly maintenance fees.
• Easily add or remove members using USSD cell phone banking.
