, ENTP6212 Small Business Management 2B Study Guide
This study guide provides a detailed breakdown of the learning units for the ENTP6212
Small Business Management 2B module.
Learning Unit 1: The Entrepreneurial Life
• Theme 1: Importance of Entrepreneurs and Small Businesses
o Discuss the importance of entrepreneurs and small businesses in local
communities. Small businesses make up a significant portion of
businesses in South Africa, contributing substantially to employment and
GDP. They are vital for building and sustaining economies.
o Differentiate between entrepreneurial opportunities and small
businesses. An entrepreneurial opportunity is an economically attractive
and timely opportunity that creates value. A small business is an entity
with fewer than 200 employees (or 100 in agriculture). Entrepreneurs
relentlessly pursue opportunities.
• Theme 2: Who is the Entrepreneur?
o Explain the characteristics of an entrepreneur. These include:
commitment and determination, leadership, opportunity obsession,
tolerance of risk, ambiguity and uncertainty, creativity, self-reliance and
adaptability, and motivation to excel.
o Analyse the types of entrepreneurs. These can include: founders,
second-stage entrepreneurs, franchisees, entrepreneurial teams, social
entrepreneurs, and women entrepreneurs.
• Theme 3: Owning a Small Business
o Discuss the motivations and perceptions related to owning a small
business. Motivations include passion for a product or service, tolerance
for risk, decision-making effectiveness, willingness to take on
responsibilities, and the ability to avoid burnout. Some become
entrepreneurs due to hardship (reluctant entrepreneur) or to escape
undesirable situations (corporate refugee).
o Explain the competitive advantages that small businesses have over
larger corporate organisations. These can include customer focus, quality
performance, innovation and globalisation, integrity and responsibility,
and niche markets.
o Describe the concept of entrepreneurial legacy. A legacy includes the
tangible and intangible qualities passed to heirs and society, striving for
satisfaction and fulfilment.
Learning Unit 2: Integrity, Ethics and Social Entrepreneurship
• Theme 1: Integrity and Ethical Practices within Small Businesses
o Explain the concept and importance of integrity related to small
businesses. Integrity involves honesty, reliability, and fairness in business
practices. It's crucial for successful business relationships and is a core
element of ethical obligations (social responsibility).
This study guide provides a detailed breakdown of the learning units for the ENTP6212
Small Business Management 2B module.
Learning Unit 1: The Entrepreneurial Life
• Theme 1: Importance of Entrepreneurs and Small Businesses
o Discuss the importance of entrepreneurs and small businesses in local
communities. Small businesses make up a significant portion of
businesses in South Africa, contributing substantially to employment and
GDP. They are vital for building and sustaining economies.
o Differentiate between entrepreneurial opportunities and small
businesses. An entrepreneurial opportunity is an economically attractive
and timely opportunity that creates value. A small business is an entity
with fewer than 200 employees (or 100 in agriculture). Entrepreneurs
relentlessly pursue opportunities.
• Theme 2: Who is the Entrepreneur?
o Explain the characteristics of an entrepreneur. These include:
commitment and determination, leadership, opportunity obsession,
tolerance of risk, ambiguity and uncertainty, creativity, self-reliance and
adaptability, and motivation to excel.
o Analyse the types of entrepreneurs. These can include: founders,
second-stage entrepreneurs, franchisees, entrepreneurial teams, social
entrepreneurs, and women entrepreneurs.
• Theme 3: Owning a Small Business
o Discuss the motivations and perceptions related to owning a small
business. Motivations include passion for a product or service, tolerance
for risk, decision-making effectiveness, willingness to take on
responsibilities, and the ability to avoid burnout. Some become
entrepreneurs due to hardship (reluctant entrepreneur) or to escape
undesirable situations (corporate refugee).
o Explain the competitive advantages that small businesses have over
larger corporate organisations. These can include customer focus, quality
performance, innovation and globalisation, integrity and responsibility,
and niche markets.
o Describe the concept of entrepreneurial legacy. A legacy includes the
tangible and intangible qualities passed to heirs and society, striving for
satisfaction and fulfilment.
Learning Unit 2: Integrity, Ethics and Social Entrepreneurship
• Theme 1: Integrity and Ethical Practices within Small Businesses
o Explain the concept and importance of integrity related to small
businesses. Integrity involves honesty, reliability, and fairness in business
practices. It's crucial for successful business relationships and is a core
element of ethical obligations (social responsibility).
