Lesson Notes By Weeks and Term - Senior Secondary 3

Term: 1^st Term

Week: 1

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Home management

Topic:-       Creativity and entrepreneurship

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

1. Explain the meaning of creativity
2. Discuss entrepreneurship

3 State the importance of creativity and entrepreneurship

4. Relate creativity to entrepreneurship  

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

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

NOTE

CREATIVITY AND ENTREPRNEURSHIP

Creativity is defined as the tendency to generate or recognize ideas, alternatives, or possibilities that may be useful in solving problems, communicating with others, and entertaining ourselves and others.

Entrepreneurship is the pursuit of creating, managing, and scaling a business by taking calculated risks, and being innovative. Entrepreneurship involves combining resources, skills, and vision to bring forth new products, services, or solutions that meet market demands and create value.

Why Creativity is so Crucial for Entrepreneurs?

In today’s economic world, entrepreneurship is considered the key factor toward economic development. Entrepreneurs strive to create more opportunities in industry, providing more employment options and ultimately having a positive impact on per capital income, revenue generation, lifestyle, etc. This article deals with one of the most important elements of entrepreneurship: creativity.

CHARACTERISTICS OF THE ENTREPRENEURIAL PROCESS

Entrepreneurship is like doing any other business, but there are some characteristics, which distinguish it from traditional business techniques.

Innovation

An entrepreneur’s mind revolves around new ideas and opportunities for innovation. There is a continuous and conscious effort required to look for niches and undertake the risks in entering them.

Entrepreneurship involves the continuous examination of existing business workflows and devising ways in order to carry them out in a more efficient and effective way, in terms of both time and cost. In simple words, entrepreneurship works toward the optimization of business.

Economic Importance

Entrepreneurship works toward optimizing resources and taking full use of them to create efficient processes. It increases an enterprise’s wealth and adds value by increasing the economic activity that comes with optimizing the whole process.

More Profit

The process of entrepreneurship rewards the individual by increasing the profit potential of the enterprise. This is the result of undertaking new ideas and providing an innovative product or service.

Risk-Taking

The whole essence of entrepreneurship revolves around the courage and ability to take new risks. Patience is needed to observe the fruitful outcome of an idea, and it takes time and effort to go from conceptualization to implementation of ideas. This time and effort is the risk that the entrepreneur is willing to take.

Job Opportunities

Entrepreneurship creates new niches and enterprises, which requires a work force. This provides exciting job opportunities for young adults. Hence, with the innovation and profit, entrepreneurship has immense potential for creating jobs.

The Entrepreneurial Process

The entrepreneurial process starts with conception and refinement of an idea, followed by implementation and management. The flow chart of the entrepreneurial process is shown below:

WHY CREATIVITY IS SO IMPORTANT FOR ENTREPRENEURS?

A thorough observation of the entrepreneurial process shows that creative thinking is the must have “skill” of an entrepreneur for the creation of new ideas. Creativity allows a person to devise interesting processes, which gives so many advantages to entrepreneurs.

But what exactly makes creativity so crucial and important in an entrepreneur’s work life?

Creativity leads to success by:

1. Creating new ideas for competitive advantage. The whole process of entrepreneurship is rooted in creation and exploration of new ideas. When an entrepreneur is able to generate a new idea that is feasible as well as efficient, it gives him an edge over the competition. The ability to explore different niches is just like a learned skill or a resource that is possessed by an individual.
2. Thinking of novel ways to develop your product and improve the business. Creativity helps develop new ways of improving an existing product or service and optimizing a business. There is always a room for improvement in the deliverables of an enterprise; it is the creative entrepreneur who can assess how to do it.
3. Thinking the unthinkable. Creativity requires imagination to produce the most obscure ideas. Imagination is needed to cross the boundary of “usual” and “normal” or to think outside the box. This allows entrepreneurs to think beyond the traditional solutions, come up with something new, interesting, versatile, and yet have success potential.
4. Finding similar patterns in different areas. Sometimes, due to following a routine or a habit, the thinking process also goes along the line of those established processes. Creativity enables people to connect dissimilar and unrelated subjects and make successful entrepreneurial ideas. Merging different fields creates interesting intersections that creates new niches. Most people are afraid of bringing different disciplines together, but most interesting ideas come from colliding different fields.
5. Developing new niches through creativity and entrepreneurship. In entrepreneurship, it is important that new aspects of traditional business are explored. This can be in the form of changing the method of manufacturing the product or delivering the service or how are they supplied to the user. All these areas can create a niche that has great potential in business.

EVALUATION:    1. Explain the meaning of creativity and entrepreneurship

2. State the importance of creativity and entrepreneurship
3. What is the relationship between creativity and entrepreneurship?

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively