TMA1 Guide

Due Date: 09/03/2018

Instructions:

1. This assessment covers topics you have learnt in Unit 1 and 2.

2. As this is an individual assignment, you are advised not to share with others.
3. Please answer all the questions.
4. Please write all your answers in essay format. Do not answer in point-form unless
the questions mention “List” or “State”. It is not necessary to precede each
answer with an introduction and end with a summary. Proceed directly with the
answer.
5. The total marks for TMA 1 is 100% and this contributes 30% towards the total
weightage of this course.
6. Do remember to submit online and by the deadline.

School of Business & Administration

Q1. a. Define “entrepreneur” and “manager”.
• Student must clearly define the different attributes between an entrepreneur
(person who operates) and manager (a person responsible for controlling or
administering an organization or group of staff.).

Q1.b. Identify any three (3) contributions of entrepreneurs to the

society.
• Developing new markets
• Discovering new sources of markets
• Mobilising capital resources
• Introducing new technologies, new industries and new products
• Creating employment

You are encouraged to do additional reading.

Q2. a. What is meant by entrepreneurial skills?
• Entrepreneurs need to have certain skills to manage entrepreneurship
activities. An entrepreneur’s consistency in words and actions is related to
his or her reliability, predictability and good judgment in handling a
business.

• To increase their chances of success in business, entrepreneurs need to

develop the following skills.
a. Technical skills
b. Human skills
c. Conceptual skills
d. Administrative skills
You are encouraged to do additional reading.
Q2. b. Explain any three (3) qualities of a successful
entrepreneur.
These are the points that students should consider;
• Willingness to make sacrifices and assume risks
• Hard work
• Optimism
• Self-confidence
• Leadership

You are encouraged to do additional reading.

Q3. a. Describe the two types of personalities that have been
identified in entrepreneurs.

Types ‘A’ and ‘B’ personalities

• Two types of personalities have been identified in entrepreneurs; namely,
type ‘A’ and type ‘B’ personalities.

You are encouraged to do additional reading.

Q3.b. Apply SWOT analysis to a preschool business and identify
two strengths and weakness that it may face.

• Strengths and Weaknesses in the contact of preschool should be explained

with examples.

You are encouraged to do additional reading.

Q4.a. Why do you think technology and the internet are
important tools to entrepreneurs? Explain your answer with
appropriate examples.
The answer to this question should reflect on the importance of
technology and the internet to entrepreneurs. Your explanation should be
supported with relevant examples.
The concept of business activities are borderless through internet. Think
of the benefits that a business can achieve through the internet.

You are encouraged to do additional reading.

Q5. a. What motivates people to become entrepreneurs?

• Entrepreneurs are their own bosses.

• Entrepreneurship offers a greater possibility .
• It provides the ability to be fully involved in the operation of the business.
• It offers the prestige of being the person in charge.
• It gives an individual the opportunity to build equity
• Entrepreneurship creates an opportunity for a person to make a
contribution to society.

You are encouraged to do additional reading.

Q5.b. Discuss THREE (3) marketing strategies that you would
consider when starting your preschool business.

• Some of the common marketing strategies used in a preschool fro

example;
• Social Media
• Email Marketing
• Telephone Marketing
• Broachers, Flyers, Business Cards

You are encouraged to do additional reading.

THE END