Lesson Notes By Weeks and Term - Senior Secondary 2

TERM – 2^ND TERM

WEEK TEN

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 5 periods each

Date:

Subject: TOURISM

Topic: BASIC CONCEPTS OF ENTREPRENEURSHIP

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

1. Explain the term entrepreneurship
2. Examine the concept entrepreneurship education critically
3. Outline the importance of entrepreneurship
4. Analyze the qualities of an entrepreneur

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

NOTE

BASIC CONCEPTS OF ENTREPRENEURSHIP

Entrepreneurship refers to the process of identifying, creating, and pursuing opportunities to create value by starting new businesses or innovating within existing organizations. Some basic concepts of entrepreneurship include:

1. Innovation: Entrepreneurs often introduce new products, services, or business models that disrupt traditional markets or create entirely new ones.
2. Risk-taking: Entrepreneurship involves taking calculated risks, as entrepreneurs invest their time, money, and resources into ventures with uncertain outcomes.
3. Creativity: Entrepreneurs are creative problem-solvers who identify gaps or inefficiencies in the market and develop innovative solutions to address them.
4. Resourcefulness: Entrepreneurs leverage their skills, networks, and available resources to overcome challenges and capitalize on opportunities.
5. Value Creation: Successful entrepreneurs create value for customers, employees, shareholders, and society at large by meeting needs, fulfilling desires, and generating economic growth.

Entrepreneurship Education

Entrepreneurship education encompasses programs, courses, and initiatives designed to develop entrepreneurial mindsets, skills, and capabilities among individuals. Major aspects of entrepreneurship education include:

1. Curriculum Development: Entrepreneurship education programs focus on teaching fundamental concepts, theories, and practical skills related to starting and managing businesses.
2. Experiential Learning: Hands-on learning experiences such as business simulations, case studies, internships, and startup projects provide students with real-world exposure to entrepreneurial challenges and opportunities.
3. Networking and Mentoring: Entrepreneurship education fosters networking opportunities and connects students with experienced entrepreneurs, mentors, investors, and industry professionals who can offer guidance, support, and advice.

Qualities of an Entrepreneur

Successful entrepreneurs often possess a combination of personal qualities, traits, and skills that contribute to their effectiveness and resilience. Some key qualities of an entrepreneur include:

1. Passion and Persistence: Entrepreneurs are driven by passion for their ideas and goals, and they demonstrate persistence and determination in the face of challenges and setbacks.
2. Creativity and Innovation**: Entrepreneurs possess a creative mindset and an ability to think outside the box, enabling them to identify new opportunities and develop innovative solutions.
3. Risk-taking and Adaptability: Entrepreneurs are comfortable taking risks and navigating uncertainty, and they demonstrate adaptability and flexibility in response to changing market conditions.
4. Vision and Leadership: Entrepreneurs have a clear vision for their businesses and inspire others to share their vision, demonstrating leadership skills in guiding and motivating teams.
5. Networking and Communication: Entrepreneurs build strong networks and relationships with stakeholders, customers, partners, and investors, and they communicate effectively to articulate their ideas and value propositions.

Importance of Entrepreneurship

Entrepreneurship plays a crucial role in driving economic growth, innovation, and social change. Some reasons why entrepreneurship is important include:

1. Economic Development: Entrepreneurship stimulates economic growth by creating new businesses, generating employment opportunities, and fostering innovation, competition, and productivity.
2. Innovation and Disruption: Entrepreneurs introduce new products, services, technologies, and business models that disrupt traditional markets, drive technological advancements, and address unmet needs.
3. Job Creation: Small and medium-sized enterprises (SMEs) and startups are major contributors to job creation, providing employment opportunities and reducing unemployment rates in communities.
4. Wealth Creation: Entrepreneurship creates wealth for entrepreneurs, investors, employees, and stakeholders through business ownership, equity ownership, and financial returns on investments.
5. Social Impact: Entrepreneurship addresses social and environmental challenges by developing solutions that improve people's lives, promote sustainability, and create positive social change.

EVALUATION: 1. What is entrepreneurship?

2. Mention 5 concepts of entrepreneurship that you know.
3. Identify 5 qualities of an entrepreneur.
4. Identify 5 importance of entrepreneurship.

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively