WEEK: 4

TOPIC: ENTREPRENEURSHIP

CLASS: JSS1

GENDER: MIXED

AVERAGE AGE: 10 YEARS

DURATION: 2 PERIODS (40min. for each period)

REFERENCE: WABP junior secondary business studies book 2 and

Classic business studies book 2

BEHAVIOURAL OBJECTIVES: By the end of the lesson, students should be able to:

Define entrepreneur and entrepreneurship.
Define self-employment
State the challenges of being self-employed
Mention some successful entrepreneurs in our locality.

PREVIOUS KNOWLEDGE: the students have seen several business enterprises and have visited some like “bonjour bread”

Biblical Objective: To use creativity, initiative, and resources to create value, provide service, and glorify God through honest and diligent enterprise.

Biblical Truth: God blesses diligence, wise planning, and faithful stewardship, and He calls entrepreneurs to use their work to serve others, not just personal gain.

Bible Verse: “Commit to the Lord whatever you do, and he will establish your plans.” — Proverbs 16:3 (NIV)

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LESSON CONTENT

STEP 1: ENTREPRENEURSHIP

Entrepreneurship is the act of owning a business by taking financial risks with a view to making profit.

Entrepreneurship comes from the French verb ‘entrepreneur’ which means to undertake.

MEANING OF ENTREPRENEUR

An entrepreneur is a person who is willing to take business risks by starting or financing a business for a profit.

CHARACTERISTICS OF AN ENTREPRENEUR

1. Determination 2. Commitment

3. Insight 4. Brain storming

5. Resourcefulness 6. Creativity

7. Understanding 8. Ingenuity

9. Foresight 10. Perseverance

11. Courage 12. Confidence

13. Toughness 14. Independence

15. Extreme optimism 16. Ability to prioritize

17. Continuous learning

MEANING OF ENTERPRISE

An enterprise is an organisation created for commercial purposes.

STEP 2: MEANING OF SELF EMPLOYMENT

Self-employment is the operation of a business or service as a sole owner, partner in a partnership, independent contract or consultant.

Self-employment, therefore, is working for oneself.

EFFECTS OF HIGH UNEMPLOYMENT IN A COUNTRY

1. Lack of self-esteem

2. Mental problem

3. Isolation and frustration

4. Leads to poverty

5. Poverty leads to kidnapping.

STEP 3: CHALLENGES OF BEING SELF-EMPLOYED

Having your own business means that:

1. There is a risk of failure.

2. You must put in all your time to make a success out of it.

3. You may lose friends, even have problems with your family members.

4. You might experience a lot of stress.

5. Customers might not like your products or services.

6. You might not be able to get to the customers who buy your services or products.

FACILITIES AVAILABLE FOR SELF-EMPLOYMENT

If you want to be self-employed, you must start off by thinking of a new idea for a business.

An aspect of looking for an idea or facility available for self-employment is the ability to understand the environment in which you are living.

The questions listed below will help you think of ideas for business:

1. Where do I live?

2. Do I live in a city, town or rural area?

3. What types of goods or services are required in my area?

4. What opportunities are there for starting a business?

5. Which geographical condition exists in that area?

6. What can I grow or sell in my area?

7. Can I use the natural resources around me to start a business if I am living near the coast or a river?

8. Are there factories, industries or shops near me?

9. Can I supply them with goods or services?

CLASSIFICATION OF FACILITIES AVAILABLE FOR SELF EMPLOYMENT

These facilities are classified into three broader headings:

1. THE NATURAL ENVIRONMENT: With natural resources such as land, air, weather, animals, birds, fish, plant etc think about how you can use these natural resources to start a business.

2. THE SOCIAL ENVIRONMENT: You can take advantage of those facilities like schools, hospital, friends etc. to make wealth.

3. THE ECONOMIC ENVIRONMENT: Economic environment can birth business idea. You can make of this facility to make wealth.

STEP 4: SUCCESSFUL ENTREPRENEUR IN YOUR LOCALITY

In your locality, you should be able to identify some entrepreneurs. They are:

1. Shop owners dealing in provisions and cosmetics.

2. Local butchers

3. Spare part dealers.

4. Kerosene sellers

5. Restaurant owners

6. Welders

7. Fashion designers

8. Hairdressers

9. Petty traders

10. Chemists

11. Business centre owners

12. Electrical/Electronics store owners

13. Artists

IMPORTANCE OF ENTREPRENEURSHIP

1. It provides employment for a lot of people

2. It creates wealth for nations and individuals

3. It contributes to research and development.

4. It brings about personal growth and experience

5. It is a challenging opportunity for people.

6. It provides self-sufficiency.

EVALUATION

Define entrepreneur and entrepreneurship.
Define self-employment
State the challenges of being self-employed
Mention some successful entrepreneurs in our locality.

ASSIGNMENT

List out 5 Nigerian Entrepreneurs and International Entrepreneurs each with companies founded.