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HIGHER EDUCATION PROGRAMMESMEMORANDUM
Academic Year 2023: January - June
Formative Assessment 1: Entrepreneurship 1 (HENT130-1)
NQF Level, Credits: 5, 12
Weighting: 20%
Assessment Type: Essay-Type Questions
Educator: S. Mahlanze
Examiner: S. Campbell
Due Date: 31 March 2023
Total: 100 Marks
Instructions:
• This paper consists of four (4) questions.
• It is based on units 1 - 6 of your textbook.
• All questions are compulsory.
• Your assessment must be typed using:
o Font: Arial
o Font size: 12
o Line spacing: 1.5
• A Copyleaks Report will be issued via ColCampus once the assignment is
submitted. Please ensure that you follow the correct steps when uploading your
assignment, to ensure that the Copyleaks Report is correctly issued. You should
be working towards a similarity rating of 30% or less. Where a Copyleaks Cheat
Detection Report is issued, your submission will automatically be treated as if you
received a similarity rating in excess of 30%. Currently no marks will be deducted
for a similarity rating that exceeds 30%.
1 HENT130-1-Jan-Jun2023-FA1-Memo-SC-V4-29032023
,Question 1: [34 Marks]
Read the information below and answer the questions that follow:
Employment opportunities abound in private and public sector organisations. Schools,
colleges, and universities primarily teach and train us to become employees not
employers. However, those of us who identify and evaluate the best employers often
agree that your best employer is yourself. This is measured by work satisfaction,
experience, income, self-realisation, job creation and a range of other factors.
Unfortunately, we are often incorrectly informed that entrepreneurship cannot be learned,
that entrepreneurship is an innate ability, and few are born with it. Fortunately, this is
untrue: it is proved that entrepreneurship is a discipline, and therefore can be taught and
learned through specialized entrepreneurship education.
Source: Nieuwenhuizen, C. 2019. Entrepreneurship: An African perspective. Claremont: Juta.
1.1) Describe the nine (9) characteristics of an entrepreneur that would contribute to
their success. (10x1=10)
Unit 1, pages 12 - 14
• An entrepreneur requires business aptitude ✓ and management skills. ✓
• Perseverance. ✓
• Commitment to the business. ✓
• Involvement in the business. ✓
• Willingness to take risks. ✓
• Sound human relations. ✓
• Creativity and innovative ability. ✓✓
• Positive attitude and approach. ✓
The following Learning Outcome is assessed in this question:
Define the terms ‘entrepreneur’ and ‘entrepreneurship’
2 HENT130-1-Jan-Jun2023-FA1-Memo-SC-V4-29032023
, 1.2) A business plan plays a vital role in the entrepreneurial process. Discuss the
principles of the business plan. (4 marks)
Unit 5, page 114
Note to Grader:
Allocate one (1) mark for each of the answers listed below.
The business plan is:
• A meticulous route map to entrepreneurial success. ✓
• A detailed written document stipulating how you will address all the business activities to
exploit the identified business opportunity. ✓
• A planning document that explores and indicates the route to follow into the future. ✓
• A document that the entrepreneur should formulate themselves. ✓
The following Learning Outcome is assessed in this question:
Understand the purpose and principles of a business plan.
1.3) Tabulate the differences between own capital and outside capital.
(10x1=10 marks)
Unit 6, page 134
Note to Grader:
Allocate one (1) mark for each of the answers listed below.
Own Capital Outside Capital
Has a permanent nature ✓ May be of a short-, medium- or long-term
nature (no permanence.) ✓
Seldom withdrawn ✓ Withdrawal is common ✓
Is remunerated in the form of dividends Is remunerated in the form of interest paid
and growth in value ✓ and/or goods sold. ✓
3 HENT130-1-Jan-Jun2023-FA1-Memo-SC-V4-29032023
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