Lesson Notes By Weeks and Term v4 - JHS 1
ESTABLISHING AND MANAGING A SMALL BUSINESS ENTERPRISE
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ESTABLISHING AND MANAGING A SMALL BUSINESS ENTERPRISE
Download the Lessonotes Mobile Ghana app for faster lesson access on Android and iPhone.
Subject: Career Technology
Class: JHS 1
Term: 3rd Term
Week: 13
Grade code: B7.6.2.1.3
Strand code: 6
Sub-strand code: 2
Content standard code: B7.6.2.1
Indicator code: B7.6.2.1.3
Theme: ENTREPRENEURIAL SKILLS
Subtheme: ESTABLISHING AND MANAGING A SMALL BUSINESS ENTERPRISE
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In our communities, we see many people running their own businesses – the woman selling roasted plantain, the man who runs the mobile money kiosk, the tailor who sews our school uniforms, or even young people designing graphics on their laptops. These people are called entrepreneurs. They play a vital role in our Ghanaian economy by creating jobs and providing us with goods and services. This lesson will explore the exciting benefits (advantages) and the difficult challenges (disadvantages) that come with choosing the path of an entrepreneur. Understanding both sides will help us appreciate their hard work and decide if this is a path we might want to take in the future.
A. Who is an Entrepreneur?
An entrepreneur is a person who identifies a need in the community, gathers resources, and starts a business to meet that need. They take on financial risks with the hope of making a profit. Think of them as problem-solvers who create businesses.
Example from our context: Aunty Mansa, the Kenkey Seller: Identifies a Need: Aunty Mansa lives near a construction site. She sees that the workers have nowhere to buy affordable, filling food for lunch. Gathers Resources: She uses her own savings (GH₵ 300) to buy corn, fish, pepper, and other ingredients. She uses her own kitchen to cook. Takes a Risk: She risks her own money. If the workers don't buy her kenkey, she will lose her GH₵ 300. Hopes for Profit: She sells the kenkey for a price higher than her costs. The extra money is her profit, which she can use to support her family and grow her business.
Aunty Mansa is an entrepreneur. Now, let's look at the good and bad sides of her work. B. Advantages of Being an Entrepreneur (The "Sweet" Side)