Name: Rolize van Tonder
Student number: 63238233
OTE2601 Assignment 01
Unique number: 695993
Due date: 15 May 2020
,Question 1
1.1) - Internationally, South Africa is rated as a developing country, but it has the
lowest productivity figures in the world. This means that people want and need jobs,
but they do not want to do the work.
- South Africa’s population growth is among the highest in Africa. An estimation
shows that by the year 2030, South Africa will have 2,6 million more learners in
school than any other country of similar size.
- A large part of the country’s general population is entering the job market without
any qualifications or skills, due to a serious lack of schooling and training, neglect of
career-orientated teaching and too much emphasis on society’s academic value
system. The youth is entering the working world, but a big part of them do not have
any training or qualifications, which also causes unemployment, as employers do not
want to hire unqualified people.
- Seasonal workers do not have any other training and are usually bound to a
specific place, which often leads to them being unemployed by the end of the
season. This is a big reason for the current unemployment rate in South Africa,
because for the time that they are not employed, they add to that rate.
1.2) 1.2.1) Information that is needed to compile a cash budget:
• The balance sheets.
• The bank balance at the beginning of the period of budgeting.
• Cash and credit sales that are expected.
• Payments received from debtors.
• Credit conditions for debtors.
• Cash and credit purchases of trading stock that are expected.
• Payments that need to be made to creditors.
• Credit purchases and credit conditions for creditors.
• Other specified payments and receipts.
This will help you to compile a cash budget, as you will know what information is
important for the budget. It will also ensure that you do not use the wrong
information.
1.2.2) Information that should be contained in the cash budget:
• An estimation of the amount of cash to be received from debtors for cash
sales and the collections of credit sales during a month.
• An estimation of the cash to be paid for cash purchases and credit purchases’
payments to creditors for a specific month.
• The bank balance at the beginning of the month.
• An estimation of the bank balance at the end of the month. This closing
balance is also the new opening balance for the next month.
• Other expected incomes, such as rent, for example.
, • Other expenses for the business, such as wages and salaries, for example.
This will help you to work out your budget properly, as you will be able to see all
the incomes and expenses for the month.
1.3) 1.3.1)
• The youth is not bold and willing to take risks, which leads to a lack of
entrepreneurs.
• Our systems of education and training have failed to create learning societies
where everyone is motivated and able to practise lifelong learning.
• Through research, it has been discovered that 30% of learners are natural
entrepreneurs when they start their school careers, but when they leave
school, the figure has dropped to 6%.
• Schools have only concentrated on preparing learners for jobs for a long time.
Schools, as well as parents and the community, have focused on providing
paper qualifications, and not useful skills.
• Syllabi are drawn up in a such a way that learners are programmed to think
like employees. They are not encouraged to take initiative.
• For 12 years, learners must sit and listen to teachers who tell them what and
how to learn, and how to do things. Too much emphasis is put on conformity,
and the education system does not teach learners to think positively and
dynamically.
• Teachers and parents are very focused on academic performance and high
marks. From an early age, learners are taught to answer correctly, and
different or innovative thinking is often discouraged.
• Especially in primary school, hardly any emphasis is put on perseverance.
Personality growth is also bound by the limitations placed on individuality and
creativity development.
• The school curriculum does not provide learners with any technical or
business management skills.
• Culture also plays an important part in promoting entrepreneurship.
• We have seen throughout history that entrepreneurs are more likely to
develop if strong role models are present. Many black learners are unaware of
role models. In general, white learners are more aware of entrepreneurs.
Question 2
2.1) Role playing is specifically very well suited to the senior primary phase. It
guarantees that every learner is actively involved. Learners are inclined to speak
with much less control, and they are not afraid to make mistakes. A teacher can use
this technique to introduce learners to the profession of entrepreneurship in play.
Role play provides learners with the opportunity to participate in decision-making
processes and teaches them to take risks without drifting into reality. They realise
that all actions have consequences, just like it happens in a real business. This
technique imitates reality as it is an entrepreneur’s daily experience. It does take
more time to use this technique, as the roles must be rehearsed ahead of time.
Student number: 63238233
OTE2601 Assignment 01
Unique number: 695993
Due date: 15 May 2020
,Question 1
1.1) - Internationally, South Africa is rated as a developing country, but it has the
lowest productivity figures in the world. This means that people want and need jobs,
but they do not want to do the work.
- South Africa’s population growth is among the highest in Africa. An estimation
shows that by the year 2030, South Africa will have 2,6 million more learners in
school than any other country of similar size.
- A large part of the country’s general population is entering the job market without
any qualifications or skills, due to a serious lack of schooling and training, neglect of
career-orientated teaching and too much emphasis on society’s academic value
system. The youth is entering the working world, but a big part of them do not have
any training or qualifications, which also causes unemployment, as employers do not
want to hire unqualified people.
- Seasonal workers do not have any other training and are usually bound to a
specific place, which often leads to them being unemployed by the end of the
season. This is a big reason for the current unemployment rate in South Africa,
because for the time that they are not employed, they add to that rate.
1.2) 1.2.1) Information that is needed to compile a cash budget:
• The balance sheets.
• The bank balance at the beginning of the period of budgeting.
• Cash and credit sales that are expected.
• Payments received from debtors.
• Credit conditions for debtors.
• Cash and credit purchases of trading stock that are expected.
• Payments that need to be made to creditors.
• Credit purchases and credit conditions for creditors.
• Other specified payments and receipts.
This will help you to compile a cash budget, as you will know what information is
important for the budget. It will also ensure that you do not use the wrong
information.
1.2.2) Information that should be contained in the cash budget:
• An estimation of the amount of cash to be received from debtors for cash
sales and the collections of credit sales during a month.
• An estimation of the cash to be paid for cash purchases and credit purchases’
payments to creditors for a specific month.
• The bank balance at the beginning of the month.
• An estimation of the bank balance at the end of the month. This closing
balance is also the new opening balance for the next month.
• Other expected incomes, such as rent, for example.
, • Other expenses for the business, such as wages and salaries, for example.
This will help you to work out your budget properly, as you will be able to see all
the incomes and expenses for the month.
1.3) 1.3.1)
• The youth is not bold and willing to take risks, which leads to a lack of
entrepreneurs.
• Our systems of education and training have failed to create learning societies
where everyone is motivated and able to practise lifelong learning.
• Through research, it has been discovered that 30% of learners are natural
entrepreneurs when they start their school careers, but when they leave
school, the figure has dropped to 6%.
• Schools have only concentrated on preparing learners for jobs for a long time.
Schools, as well as parents and the community, have focused on providing
paper qualifications, and not useful skills.
• Syllabi are drawn up in a such a way that learners are programmed to think
like employees. They are not encouraged to take initiative.
• For 12 years, learners must sit and listen to teachers who tell them what and
how to learn, and how to do things. Too much emphasis is put on conformity,
and the education system does not teach learners to think positively and
dynamically.
• Teachers and parents are very focused on academic performance and high
marks. From an early age, learners are taught to answer correctly, and
different or innovative thinking is often discouraged.
• Especially in primary school, hardly any emphasis is put on perseverance.
Personality growth is also bound by the limitations placed on individuality and
creativity development.
• The school curriculum does not provide learners with any technical or
business management skills.
• Culture also plays an important part in promoting entrepreneurship.
• We have seen throughout history that entrepreneurs are more likely to
develop if strong role models are present. Many black learners are unaware of
role models. In general, white learners are more aware of entrepreneurs.
Question 2
2.1) Role playing is specifically very well suited to the senior primary phase. It
guarantees that every learner is actively involved. Learners are inclined to speak
with much less control, and they are not afraid to make mistakes. A teacher can use
this technique to introduce learners to the profession of entrepreneurship in play.
Role play provides learners with the opportunity to participate in decision-making
processes and teaches them to take risks without drifting into reality. They realise
that all actions have consequences, just like it happens in a real business. This
technique imitates reality as it is an entrepreneur’s daily experience. It does take
more time to use this technique, as the roles must be rehearsed ahead of time.
