Question 1:
In a country like ours, where jobs are scarce and the gap between the rich and the poor is getting
bigger, teaching entrepreneurship is important. Entrepreneurship teaches values that will be
beneficial in daily life as well as out in the world as a productive member of society. As described in
the OTE2601 Study Guide, “ An entrepreneur is therefore someone who: recognises opportunities,
dares to grasp opportunities, is able to handle opportunities.” (Lumadi, 2021) Once we enter the
world of work, it is our responsibility to utilize all the tools at our disposal to succeed. The world of
work is competitive . We must seize every opportunity that comes our way in order to succeed.
There are many reasons why entrepreneurs are important:
• Job creation; which may be one of the most important reasons because our economy needs
the boost, and our youth needs the jobs.
• Development of natural resources; this means natural resources are used to make useful
products which are beneficial to our economy.
• Initiation of the production process; we have many needs and wants that need to be
satisfied, and entrepreneurs help satisfy these needs and wants.
• Generation of wealth and standard of living is higher; too many people are living in poverty,
and we have to start somewhere to improve our circumstances.
As educators, one of our biggest goals is to help learners reach their full potential. Teaching
entrepreneurship helps to achieve this goal. It teaches learners to think outside the box, to utilize
their strengths and work on their weaknesses. In this day and age holding qualifications does not
guarantee you a job. It is up to you as an individual to make sure you stand out from hundreds of
other applicants with the same qualifications.
As I mentioned previously, entrepreneurship teaches values. These values can be used by
entrepreneurs and the normal working class. Some of the characteristics of an entrepreneur is:
• creative/critical thinking
• resilience
• problem solving
• goal-driven
• innovative
• adaptability
• risk-taker
• disciplined
• self-confidence
• goal-orientated
These are all great characteristics to have and will help you succeed in every area of your life. So, in
conclusion, while South Africa does not need us all to be entrepreneurs, there is a great deal to learn
about entrepreneurship and that is why it should be taught in schools.
, Question 2:
2.1. Nedbank stokvel offers the following benefits:
• When you shop at selected stores. You get a 10% discount on groceries or school supplies.
• Each member gets R10 000 burial cover, and you only pay R20 per month for each member.
• You do not pay account maintenance fees.
• The Nedbank money app offers access to a monthly Nedbank pay-as-you-go account, with no
additional charges.
• USSD cell phone banking allows you to add or remove members easily.
(Lumadi, 2021)
2.2.
2.2.1. Grocery: In grocery stokvels, the members have to contribute a certain amount toward either
groceries which are bought in bulk, or coupons. At the end of the year, usually the first week in
December, when the saving period is over, the groceries or coupons are distributed equally among
the members of the stokvel.
2.2.2. Basic: The basic stokvel has a set of specific circumstances where it will pay out. It acts as a
‘savings scheme’. Members are aware of this and join for that very reason because it pays out when
members need it most.
2.2.3. Funeral Cover: Funeral cover stokvels are a way of saving in the case of death occurring. This
helps the family bury their loved ones in a dignified manner and offer them support during the
difficult times; material and non-material support.
2.2.4. Property: Property stokvels serve the function of giving people a jumpstart who want to start
investing in property but cannot afford to do so on their own. The stokvel allows people to get
together as a group, invest in a property or land and work together to turn a profit.
2.2.5. Investment: Investment group enables a bunch of people to make investments. When they
start receiving pay-outs from their investment, it is divided equally between the members. But not all
the money is divided between the members, a portion is kept reinvesting to ensure that they will
continuously benefit from the investment.
(Lumadi, 2021)
In a country like ours, where jobs are scarce and the gap between the rich and the poor is getting
bigger, teaching entrepreneurship is important. Entrepreneurship teaches values that will be
beneficial in daily life as well as out in the world as a productive member of society. As described in
the OTE2601 Study Guide, “ An entrepreneur is therefore someone who: recognises opportunities,
dares to grasp opportunities, is able to handle opportunities.” (Lumadi, 2021) Once we enter the
world of work, it is our responsibility to utilize all the tools at our disposal to succeed. The world of
work is competitive . We must seize every opportunity that comes our way in order to succeed.
There are many reasons why entrepreneurs are important:
• Job creation; which may be one of the most important reasons because our economy needs
the boost, and our youth needs the jobs.
• Development of natural resources; this means natural resources are used to make useful
products which are beneficial to our economy.
• Initiation of the production process; we have many needs and wants that need to be
satisfied, and entrepreneurs help satisfy these needs and wants.
• Generation of wealth and standard of living is higher; too many people are living in poverty,
and we have to start somewhere to improve our circumstances.
As educators, one of our biggest goals is to help learners reach their full potential. Teaching
entrepreneurship helps to achieve this goal. It teaches learners to think outside the box, to utilize
their strengths and work on their weaknesses. In this day and age holding qualifications does not
guarantee you a job. It is up to you as an individual to make sure you stand out from hundreds of
other applicants with the same qualifications.
As I mentioned previously, entrepreneurship teaches values. These values can be used by
entrepreneurs and the normal working class. Some of the characteristics of an entrepreneur is:
• creative/critical thinking
• resilience
• problem solving
• goal-driven
• innovative
• adaptability
• risk-taker
• disciplined
• self-confidence
• goal-orientated
These are all great characteristics to have and will help you succeed in every area of your life. So, in
conclusion, while South Africa does not need us all to be entrepreneurs, there is a great deal to learn
about entrepreneurship and that is why it should be taught in schools.
, Question 2:
2.1. Nedbank stokvel offers the following benefits:
• When you shop at selected stores. You get a 10% discount on groceries or school supplies.
• Each member gets R10 000 burial cover, and you only pay R20 per month for each member.
• You do not pay account maintenance fees.
• The Nedbank money app offers access to a monthly Nedbank pay-as-you-go account, with no
additional charges.
• USSD cell phone banking allows you to add or remove members easily.
(Lumadi, 2021)
2.2.
2.2.1. Grocery: In grocery stokvels, the members have to contribute a certain amount toward either
groceries which are bought in bulk, or coupons. At the end of the year, usually the first week in
December, when the saving period is over, the groceries or coupons are distributed equally among
the members of the stokvel.
2.2.2. Basic: The basic stokvel has a set of specific circumstances where it will pay out. It acts as a
‘savings scheme’. Members are aware of this and join for that very reason because it pays out when
members need it most.
2.2.3. Funeral Cover: Funeral cover stokvels are a way of saving in the case of death occurring. This
helps the family bury their loved ones in a dignified manner and offer them support during the
difficult times; material and non-material support.
2.2.4. Property: Property stokvels serve the function of giving people a jumpstart who want to start
investing in property but cannot afford to do so on their own. The stokvel allows people to get
together as a group, invest in a property or land and work together to turn a profit.
2.2.5. Investment: Investment group enables a bunch of people to make investments. When they
start receiving pay-outs from their investment, it is divided equally between the members. But not all
the money is divided between the members, a portion is kept reinvesting to ensure that they will
continuously benefit from the investment.
(Lumadi, 2021)
