DEMONSTRATE AN UNDERSTANDING OF AN ENTREPRENEURIAL PROFILE

This unit standard is for learners who are required to identify and develop within themselves, the personal characteristics of an entrepreneur that ensure the successful operation of a new venture. The unit standard also introduces the learner to the economic, administrative and behavioural (psycho-social) barriers that contribute to the success in starting and sustaining an enterprise. The learner will develop strategies to work effectively in a group and set personal goals in an entrepreneurial context.

Unit 1: Describe entrepreneurship.

• Entrepreneurship is discussed in terms of employment opportunities. 
• Entrepreneurial opportunities are identified and described within a specific economic area related to the interest of the learner. 
• An explanation is given of the advantages and disadvantages of entrepreneurship.
• Reasons for business failure are identified and discussed with examples. 
• An explanation is given of the role of entrepreneurship in social development.
  

Unit 2: Describe the characteristics of a successful entrepreneur.

• Examples of successful entrepreneurs are discussed in terms of their characteristics. 
• Skills, aptitudes, personality and values of entrepreneurial behaviour are clearly differentiated with examples. 
• The importance of each characteristic is analysed in the context of a specific new venture.
• The technical, business, managerial and personal strategies required for establishing a successful venture are explained with examples.

Unit 3: Develop individual entrepreneurial characteristics.

• Baseline knowledge of self in respect of personality, interests and aptitude is established by the learner. 
• The characteristics of a successful entrepreneur are identified and listed in the individual`s own context.
• Own strengths and weaknesses as an entrepreneur are determined with examples.
• Strategies to address shortcomings are developed and implemented where possible. 
• Enabling programmes for the new entrepreneur is identified and explained in terms of their benefits and limitations.
• Short term goals are articulated and discussed for self in an entrepreneurial context medium and long term goals are planned and determined in the context of sustainability