Chapter 1 Introduction to Entrepreneurship

Introduction

In this chapter, you will be able to appreciate the importance of studying Entrepreneurship education and demonstrate the characteristics of an entrepreneur. Look back in your community, different people, both educated and non-educated, have started up their own businesses with an aim of getting some profit or earning income and offer a service.

Farmers in their gardens, women at their stalls, some in their salons and others producing different products like liquid soap, sanitizers among others.

All these people play an important role in our communities. Entrepreneurship is a very important aspect every individual needs for financial well-being.

Furthermore, you will be in position to exploit and use the abundant resources in your environment through creativity and innovation, to generate income or offer a service.

1.1 The Entrepreneur

By the end of this sub-topic, you should be able to;

(a) understand the purpose of studying Entrepreneurship Education.

(b) identify the characteristics of an entrepreneur.

(c) assess the benefits of an entrepreneur.

Meaning of Entrepreneurship

When you look around your home and school, do you see any businesses around? If so, what kind of businesses? You have probably noticed that there are quite a good number of businesses operating in your surrounding area.

These among others may include small shops, video libraries, food stalls, and restaurants. Such businesses are set up by men and women who have the spirit to take risks. Entrepreneurship, therefore, is mobilising and putting together factors of Foduction to produce goods or services in order to make a profit. S about building a life on your own terms.

No bosses. No restricting schedules. And one holding you back. Have you ever started a business? If Yes or No, why?

Activity 1.1.1

Meaning of Entrepreneurship

In groups, study the photographs A, B, C and D below, and answer the questions that follow:

Task

In groups;

1. Identify the different activities taking place in the pictures A to D above.

2. Identify the factors that could have enabled the people in the above pictures to start up such activities.

3. How are the activities identified above important to the people in the community?

4. Share your views to the rest of the class.

People seek and acquire knowledge and skills in order to succeed in their business endeavours. This knowledge is acquired at all levels of schooling from primary, secondary, to tertiary programs. This acquired knowledge and skills provide individuals with the ability to identify opportunities and commit to succeed in them. This process is called Entrepreneurship Education.

The Purpose of Studying Entrepreneurship Education

Entrepreneurship Education is concerned with providing the learner with basic knowledge and skills of creating and operating your own business successfully, using the available resources to develop yourself and people around them.

Activity 1.1.2

In pairs; Discussing the purpose of entrepreneurship education

Read the case study below and answer the questions that follow:

Mr. Kawagga is a fresh graduate who studied Entrepreneurship education. He always dreamed of using the knowledge obtained from his studies to set up a business. In the course of his studies, Mr. Kawagga had saved some money out of his upkeep to help him achieve his dream. After some research, he observed that a number of people in his home village of Makukuulu were too busy to clean their houses. With his savings, Mr. Kawagga bought a machine that removes dirt off surfaces and started cleaning people’s houses. He is paid according to the size of the house. Within a year, the demand for his services increased. Today, Mr. Kawagga is considered one of the leading businessmen in his village. He has been able to earn profits. He also expanded his business by employing more people.

Fig 1.1.2: Mr. Kawagga cleaning a house

From the case study above;

1. What lessons do you learn from Mr.Kawagga? of Uganda

2. Identify three important things Mr.Kawagga did to start his cleaning business.

3. Design a poster to advertise why students should study Entrepreneurship Education.

4. Share your work with the rest of the class.

Individuals turn the skills gained from school into businesses. It is very important to always think outside the box. You can always use your talent to develop a career so as to fulfill an important role in your community. In Uganda, the government is emphasising entrepreneurship as a career to deal with unemployment.

Meaning of an Entrepreneur

An entrepreneur is a person who uses an idea to start and run a business in the hope of making a profit. He or she is the owner of the business. However, many people have good ideas and important responsibilities, but they are not all entrepreneurs.

Think of an idea for a product or service. In order to be an entrepreneur you need to use the idea to plan and develop the business. And then your business needs to sell the product or the service to customers to make money.

Activity 1.1.3

Identifying an entrepreneur

In groups, read the two case studies below and use them to respond to the task that follows:

Case study one

Oketch is a taxi driver who, after work, takes the money to his Boss. However, he is paid every month. He uses his salary to pay school fees for his children. He cannot miss a day without working; and if he does, he is fired from work.

Fig 1.1.3: Oketch driving a taxi

Case study two

Kangenyi lives in a town where there are many chapati sellers. He decided to start a poultry business where he sells eggs to the chapatti sellers. He earns every day and saves part of his profits. He is his own boss. Though he faces many challenges, he hasn’t given up.

Fig 1.1.4: Kangenyi at his poultry farm

Task;

1. From the two case studies: with reasons, explain who of the two people is an entrepreneur. Provide a reason for your answer.

2.Discuss Entrepreneurship as a career option.

3. Share your work with the rest of the class.

An entrepreneur generates an idea to start and run a business with the hope of making a profit and is responsible for the success or failure of the business. Entrepreneurs generate ideas and use their creativity and innovation to come up with a product or service that satisfies a certain need.

Characteristics of an Entrepreneur

What makes a successful entrepreneur? Is an entrepreneur different from others? Entrepreneurs should posses qualities that they exhibit for them to be successful. Such qualities are commonly referred to as “Personal Entrepreneurship Qualities”or PECS.

Success in entrepreneurship is not just about your idea or money. Plenty of people have interesting ideas and a lot of money but they never manage to find success in their businesses.

Activity 1.1.4 Identifying the characteristics of an entrepreneur.

In groups, read the case study below and answer the questions that follow.

Maggie started a small retail shop in Ama village which has grown to serve even members in the neighboring village. She loves her job and opens the shop very early in the morning at 6:00am and closes at 10pm in the night daily. She gets guidance from Deo, a big wholesaler on how to run a business because she aims at turning it into a wholesale store. Maggie works hard to achieve her dream and also reach her targets. She looks forward to always getting new ideas from people in the same business. Sometimes, she faces challenges but she is determined to move on and achieve her dream.

Fig 1.1.5: Maggie in her retail shop

Task: In groups/pairs;

1. Identify the characteristics that Maggie possesses as an entrepreneur?

2. Using internet or library research, find out other characteristics of an entrepreneur.

3. Share your findings with the rest of the class.

Benefits of Being an Entrepreneur

Why do people start up businesses? Some people know from a very early a they want to work in their own businesses. Others work for a boss for a wa to discover that they would rather run their own businesses. One thing that entrepreneurs and small business owners agree on is that entrepreneur is great. There are lots of benefits to being an entrepreneur earning a living by doing what you love, no age limit, among others.

Activity 1.1.5

Understanding the benefits of an entrepreneur

1. In groups, visit the local community around your school and inte some of the entrepreneurs and find out;

(a) the benefits they enjoy as entrepreneurs.

(b) how the community benefits from them.

2. Write a report about your findings and discuss them with other

You may have discovered that the benefits of being an entrepreneur Yes, there will be tough times, but working for yourself will always be working for someone else. Being brave enough to take a step is most certainly the hardest part, but if great idea, passion and a competitive spirit, this may just be the choice for you.

1.2: Creativity and Innovation

Keywords

• creativity
• innovation
• business model innovations
• product innovations
• service innovation
• marketing innovation

By the end of this sub-topic, you should be able to;

(a) understand creativity and innovation, make, design and evaluate a product. innovation business model innovations product innovations service innovation marketing innovation

To start and run a successful business, an entrepreneur needs to do things in different and new ways from what other businesses are doing. In this way, he or she is able to attract a reasonable market because of the unique features of his/her goods or services. Creativity and innovation thus are key factors in Entrepreneurship.

Meaning of Creativity

Have you ever made anything by yourself in life? It can be a ball, a doll, or even ropes. Creativity can be expressed in many ways; for example, through drawing, writing, singing, or even moulding something.

Creativity is different to everyone, but everyone is creative in their own way. Sometimes, in order to be creative, you need to “think outside of the box” and begin to think of something that is new and different from what is normally out there A creative person is able to identify that something might be possible to make.

In Uganda, and around the world, the COVID 19 global lock down hit r mothers could not find food to cook for their family meals, and children wer hungry. Those that had some food, lacked fuel to cook. I started making charcoal briquettes as shown in figure 1.2.1 below.

These are Those that did have fuel generally got it at a higher price. However different people made from cassava flour, water, sand or loam soil and charcoal dust, all of which is available in our local markets and communities at a relatively cheap price.

Fig 1.2.1:A woman making charcoal briquettes to save fuel expenses.

Activity 1.2.1

Discussing new ways of solving new problems

In pairs, read the case study below and answer the questions that follow: After the spread of coronavirus in Uganda, there was restricted movement which slowed down businesses all over the country. Assuming you were one of the business people;

1. Explain how you would have increased your sales without contracting or spreading corona virus to other people.

2. Make research with the use of ICT or the library to find out the importance of being creative in business.

3. Note down your findings and share with the rest of the class.

Meaning of Innovation

You are familiar with seeing clothes, cars, drinks and other items in various colors and designs. This is one of the ways entrepreneurs innovate new ucts by just changing colors, designs and packaging.

Innovation is about improving the existing products into better ones. Innovation involves carrying out new combinations that include the introduction of new goods, new methods of production, opening new markets and discovering new sources of supply.

Activity 1.2.2 In pairs, study the photographs in figures1.2.2:A and1.2.2:B on agriculture and answer the questions that follow.

Task

1. Describe the activity taking place in the photographs.

2. .With reference to figure 1.2.2:B, explain how innovation improves work production.

3. Share your views with the rest of the class.

Types of Innovation

Although you often hear about innovation in terms of technology, it’s true that technological innovation is the most obvious form of innovation. Technological innovation is a new or improved product or process whose technological characteristics are significantly different from what existed before Technological innovation comes in a variety forms as illustrated below.

■ Marketing innovation is the implementation of a new marketing method involving significant changes in product design or packaging, product placement, product promotion or pricing.

■ Service innovation is used to refer to many things. These include but not limited to: Innovation in services, in service products-new or improved service products.

■ Product innovation is about creating new or improved versions of products that increase their uses. Products innovation in improved products involves introducing better or more functionality to existing products; for example: Electric and gas lawn mower.

■ Business model is a strategy which outlines how a business or organisation delivers value to its customers. Business model innovation then, describes the process in which an organisation adjusts its business model. Often, this innovation reflects a fundamental change in how a company delivers value to the customers.

Activity 1.2.3

Understanding the types on innovation

In groups, use ICT/ library research and answer the following questions.

1. Explain the types of innovation in business

2. Give an example for each of the types of innovations in the table below.

In activity 1.2.3, you have discovered the various examples of innovation that take place in business. To understand more on the difference between creativity and innovation in business, activity 1.2.4, provides you with a case study.

Activity 1.2.4

Understanding Creativity and Innovation

In groups, read the case study below and answer the task that follows: Due to the outbreak of coronavirus in Uganda, the government emphasised washing and sanitising hands at the entrance of crowded places such as food markets, schools and hospitals. Different individuals came up with different hand-washing facilities as seen in the pictures below;

Task

In groups;

1. Critically observe the photos A and B above and in your own words, define the terms;

(a) Creativity (b) Innovation

2. Explain the importance of innovation with reference to figure 1.2.4:B

3. Apart from the case study, describe any other activities that show and innovation in business in your local community.

4. Share your findings in class.

Applying Creativity and Innovation in Business creativity

There are so many amazing and unique products made from local resources. How they come up with such designs is our task to find out. Can you identify any waste product in your community that you can turn into a useful product to put on market for sale?

The ability to generate alternatives or to see things differently does not occur by chance; it is linked to other more fundamental qualities of thinking, such as flexibility and patience.

To understand how creativity and innovation is applied in business, look at the photographs in figure 1.2.5 (A, B, and C), and discover how people can generate creative ideas from used materials.

Activity 1.2.5

Discussing the application of creativity and innovation in business

In groups, study the photographs in figures A, B and C, and answer the questions that follow:

Task

In groups;

1. Explain the activities taking place in the photographs A, B, and C.

2. Use ICT or library research to find out how you can become an innovator.

3. Discuss the current innovations that have taken place in your community.

4. State how those innovations have benefited the people in and around the community.

From activity 1.2.5, you have discovered that creative people have a great deal of energy, both physical and mental. They can spend hours working on a single thing that takes their attention, yet seem to remain useful all the while.

Project work; Applying creativity and Innovation

In groups,

(a) Visit a nearby community and identify the various waste products in the area. Note them down in your notebooks.

(b) Choose a waste product of your choice and collect the materials.

(c) Use the materials to turn them into useful products.

(d) Discuss with the class how you managed to come up with the product.

Note: Alternatively, for learners with special needs, carryout this activity within the school. Follow the same procedures and present your findings to the teacher. Write down the main ideas on creativity in your note book.

The environment in which you live is full of resources, but you may not realise it unless these resources are put to use through creativity and innovation. Putting the wasted materials into use and making them meet the market standards covers the whole concept of being creative and innovative respectively.

Creativity and innovation in businesses are very important as:

They are used to upgrade products and services,

They lead to the development of new and original ideas,

They enable an entrepreneur to make proper use of limited resources

And they solve everyday problems in business.

Note: Entrepreneurship = creativity + innovation.

1.3: Risks in Business

Keywords

• risk
• risk-taking
• risk avoidance
• risk reduction
• risk transfer
• mitigation
• uncertainty
• assessment

By the end of this sub-topic, you should be able to;

(a) know the risks in business

(b) asses risks in business

Meaning of Risks

A risk is the possibility of something bad happening. Risk involves uncertainty about the effects of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative and undesirable consequences.

Imagine street vendors who often sell products to people/drivers that are stuck in traffic jam. Despite the many vehicles and motorcycles that are sometimes moving, they have to move around to find potential buyers.

Activity 1.3.1

Understanding the meaning of risks

In groups, study the photograph in figure 1.3.1 and answer the questions that follow,

Fig 1.3.1: Street vendors in traffic jam

Task

1. Briefly describe the situation in figure 1.3.1.

2. Give examples of bad things that could happen to the street vendors.

3. Present your findings to the class.

Activity 1.3.1 helps you understand the risks involved when selling goods along the road. Likewise, businesses incur a lot of risks.

You must be familiar with hearing news over the radio, television, and newspapers, about different misfortunes like destruction of property, either by natural calamities like hailstorms, floods, fires or by man’s actions like poor housing and storage.

Activity 1.3.2 Identifying Risks in Business

In groups, read the case study below and attempt the following activity; Stephen studied computer science and initially wanted to set up a computer laboratory to teach young people Information Technology skills.

However, after attending entrepreneurship training, he developed a different business idea that he would start on his plot of land. In 2014, he sold one of his cows to get startup capital. Steven uses a candle to provide light in his shop. Unfortunately, one evening his two-year-old son played around with the candle and accidentally set the shop on fire. He lost the whole stock.

Task

With reference to the case study above:

1. What do you understand by the term risk?

2. What was the cause of the misfortune that befell Stevens’ business?

3. Assuming you were Steven, how would you have prevented the occurrence of such a misfortune?

4. Identify other risks that can befall Steven’s business. Note them down in your note book

5. Share your findings with the class.

Types of Risks

Business operations face different types of risks because of uncertainty. Some risks may be small and limit the business operations for some time while other risks may be very big and may destroy the business or change its course forever.

Typically, a business may face several risks. These include physical damage, economic fluctuations, financial risk, technology changes, legal risks and many others.

Activity 1.3.3

Discussing types of risks

Working in groups

1. Give any five examples of risks in business.

2. Using ICT or library research, describe the following types of risks;

(b) Moderate risks (a) Low risks (c) High risks

3. Suggest ways how these risks can be overcome.

4. Share your work with the rest of the class.

Activity 1.3.4

Play this game with classmates

Demonstrating risk taking and assessing the risk to be taken through a ball throwing game

1. Form groups and let each group choose two members to participate in the game.

2. Get a ball and a box. Measure the distance between which members can throw the ball.

3. Use a standard stick / ruler and mark from 0, 1, 2, 3 as length increases.

4. A group member is free to choose where to stand.

5. When a member throws a ball in to the box, the groups record a positive score depending on the distance in between.

6.When the ball falls, on the side of the box, the group has lost and a negative score recorded.

7. Use the chart below to record the scores:

The place where the game is to be played should be spacious enough to allow adequate throwing distance. Each group has three chances of throwing the ball. A member is free to change positions each time of throwing the ball.

Note: You can repeat this game as many times as possible provided that each group member plays his/her turn.

Task: In groups

1. What did you feel when throwing the ball? Why did you choose those different positions?

2.What led to your win or loss?

3. What were you supposed to do to get better scores?

4. Discuss your findings with all class members.

From the ball throwing game, you discover that, some people throw the ball at a longer distance, others at a slightly longer distance and others at very short distance.

Those who throw the ball at a longer distance have high risks.

Those who throw the ball at a slightly shorter distance have moderate risks.

Those who throw the ball at a shorter distance, have low risks.

Members decide where to stand, how to throw the ball in a way of preparing assessing the risk. Entrepreneurs in Uganda have to engage in different areas trade and health. There are always things/events that cause losses to such of business that is industry, media, infrastructure, construction, agriculture, businesses and they are not foreseen.

Risk Assessment

To take up a risk, you need to have established the likelihood of it happening, the likely loss or gain involved. Even in our daily lives; for example, when dressing up in the morning, you try to foresee the possibility of it raining or shining and decide what to wear based on your evaluation of the situation.

This is called risk assessment. Risk assessment therefore helps to bring about a safety management plan in all situations. With risk assessment, you can be able to identify circumstances that have a likelihood to cause harm.

Activity 1.3.5

Assessing risks in Business

In groups, read the story below and answer the questions that follow: Mr Oketch is a dentist in Mukono district.

He works with six other people in his clinic on a daily basis but in his weekly budget he plans for two other people who can replace anyone in case h or she gets a problem. Besides that, Mr Oketch always keeps a portion c money budgeted for the week to cater for any unexpected occurrences suc as fire out breaks, accidents, among others.

Task

1. What led Oketch into planning for other two workers?

2. What did he consider to determine the number of the other emergen workers or amount of money?

3. Explain the meaning of risk assessment.

4. Discuss the steps Oketch could have gone through to assess the risk.

5. Write down your findings in your note book. For success in business, an entrepreneur must ensure proper safeguard cover against such potential risks.

Risk Management in Business

Risk management is the process of determining an acceptable level of risk, calculating the current level of risk, and then either accepting the level of risk (risk acceptance) or taking steps to reduce the acceptable level of risk (risk mitigation). The figure below shows the risk management process.

Risk acceptance

Risk acceptance indicates that the organisation is willing to accept the level of risk associated with a given activity or process. Generally, but not always, this means that the outcome of the risk assessment is within tolerance.

Risk Mitigation

Risk mitigation implies one of the following four actions (or a combination thereof):

Risk Reduction: Taking measures to minimize the chances of the risk happening. For example, reading the road signs, driving at a slow speed.

Risk Transfer: shifting the risk to another party. For example, insuring your car with an insurance company.

Risk Avoidance: prevent the risk from occurring. For example, not driving when drunk.

Activity 1.3.6

Discussing ways of managing risks

In groups, study the photograph of the petrol station below and attempt the questions that follow:

Fig 1.3.4: Petrol station

Task

1. What are the likely risks on the petrol station in the figure above?

2. Assuming you were the owner of the petrol station, how would you;

(a) Avoid the risks (a) Reduce the risks

3. Share your views with the rest of the class. taking risk, but rather assess and weigh the kind of risk to take. Business is all about risk taking and management.

1.4: Technology and Business

Key words

• technology
• digital

By the end of this sub topic, you should be able to;

(a) understand the role of technology in solving problems in business.

Have internet you heard about self-driving cars, robots or even people saying they are online? Technology is all around us; from the smartphones and smartwatches to solar-powered street lights and all-electric cars.

In today’s busy business environment, buying and selling of products can be quick and clear without physical interaction, and products can be moved over a large geographic area. The photograph in fig 1.4.1 shows how applications are used to order for things with the help of a smart phone.

Fig 1.4.1: How to order for food online

Meaning of Technology

Can fire discovered by a caveman hundreds of thousands of years ago considered as technology?

Activity 1.4.1 Discovering the meaning of technology in business

In pairs read the dialogue below and answer the questions that follow:

Rose : Good morning Sharon, how are you doing?

Sharon : I am okay. Rose, thank you.

Rose : Have you visited Mr. Erick’s shop today?

Sharon : No, tell me, is there anything new?

Rose : A lot of things changed. He installed security cameras outside and inside the shop. There is a computer where he just enters the products you have bought and the amount is displayed.

Sharon :This is amazing. Erick’s shop is now transformed from analog to digital.

Rose: Truly, besides that, after buying anything from his shop, you leave your telephone number with him such that he gets feedback from you about the quality of the product.

Sharon: Oh my God! I need to go and buy something from his shop. Thank you for the information. Let me go there.

Rose : Thank you too for your time. Goodbye.

Task:

1. Discuss the meaning of technology in business.

2. Describe different ways in which Erick uses technology in business.

3. Explain other ways in which businesses use technology in your community apart from the ones in the dialogue.

4. Present your views to the rest of the class and to the teacher for further guidance.

Role of Technology in Business

Technology has become an inseparable part of business today. Most businessmen or entrepreneurs use computers, smart phones, cameras, and so many others which help them to run their businesses smoothly.

Activity 1.4.2

Technology in transfer of money

In groups, study the photographs A and B below that describe technology in the transfer of money and answer the questions that follow:

Task:

1. Describe what you see in photographs A and B above

2. In your opinion, how do the above innovations help in smooth running of the business?

3. Share your findings to the class for future discussion.

Project work; Using Technology in Business

Using technology in business

1. In groups, visit selected businesses in your community and find out the following:

(a) Technology used by various entrepreneurs.

(b) How this technology benefits the entrepreneurs.

(c) The challenges faced by the entrepreneurs while using technology.

2.Write a report in your notebook giving your findings.

3. Share your findings with your classmates and exchange your views.

4. Alternatively, for the special needs; visit the school canteen and follow the above procedures. The photographs in figures 1.4.3.A and 1.4.4.B show technology in farming.

Fig 1.4.3: A

Fig 1.4.4: B

Just like agriculture, technology can be applied in a wide range of business activities.

Activity 1.4.3

Identifying technological tools and how they are used in business. In pairs, critically observe the photographs in the table below and answer the questions that follow. Explain the different ways in which the following tools are used in business.

Technology in business provides a faster, more convenient, and more efficient way of performing business transactions including accounting systems, management information systems, point of sales systems, and other simpler or complicated tools

e-Business

You have heard of people ordering for cars using the internet. With technology today, shopping has become so easy. In the comfort of one’s home, transactions are done using internet and phones. This is called e-business.

e-business therefore refers to the entire process of marketing, selling, delivering goods and servicing customers economically. It has changed the way companies do business. The e- on the word e-business stands for electronic.

Examples of e- business include the following; Online banking, Mobile money transfers, e-tax and ATM cards.

Activity 1.4.4

Exploring the meaning of e-Business

In groups read the poem below and use it to respond to the tasks that follow;

Internet, internet, internet

How quick, safe and convenient it is! Especially in this Covid-19 pandemic Where social distance is A MUST In the comfort of our homes, things are delivered Internet, internet, internet

No more lining up to withdraw or deposit money in banks. We can receive send and spend money instantly on our phones

Internet, internet, internet

Even amidst the poor network, inadequate power supply, limited knowledge to use phones, computers and other machines, It is still most people’s first choice

By Monica

Task: Using ideas from the poem above;

1. List down examples of online platforms in Uganda.

2. Mention the benefits of e-business to the;

(a) Consumer (b) Business owner

3. Explain the challenges faced in e-business.

4. Suggest possible solutions to the challenges faced in e-business.

With e-business, transactions can be made without physical contact, making it a more safe, convenient and quick means. Consumers no longer have to move long distances or across nations to purchase commodities. It can be achieved through using technological tools that use internet.

For the last ten years, internet has become the glue that holds businesses and consumers together and allows them to talk and work with each other twenty four hours a day, seven days a week.

Activity 1.4.5

E-business in our school and the surrounding community. In groups, attempt this activity to help you understand more about e-business.

1. In a saving group started at school, students are stuck with how to save their money. They are not allowed to go out of school to deposit their savings on the bank account created. Show how students can use technology to overcome this challenge.

2. Move around the nearby trading centre around school and do the following;

(a) Identify the e-Business services used by the entrepreneurs.

(b) Find out from the community how useful they are to them

3. Present your research findings in a report form.

E- market is the environment where buyers and sellers can exchange goods and services through the Internet. For online businesses, there is no need for a physical contact until when an order is shipped and delivered. It is at the point of delivery that the buyer receives goods from the seller and the transaction is sealed.

Chapter summary

In this chapter, you have learnt the purpose of Entrepreneurship Education, the characteristics of an entrepreneur, the benefits of an entrepreneur, creativity a innovation, how to make and evaluate a product, understood the risks in busine assessment of risks in business, and the role of technology in businesses.