Form 5 General Studies (GS) – LIFE SKILLS

ELEMENTS OF SELF RELIANCE AND ENTREPRENEURSHIP

i.)  Vision with judgment – ability to see opportunities plan for future and make sensible decision

ii.)  Risk taking/ taking calculated risk

iii.)  Optimism – having hope that positive outcomes will be realized

iv.)   Endurance – ability to continue performing activity for a long time without complaining

v.)  Courage – ability to face threats, challenges or new situations without fear

vi.) Uniqueness – ability to perform activities in a different way

vii.) Effective communication

viii.)  Determination – the ability that makes a person to continue performing activity in a difficult situation

ix.) Power of creating cooperation

THREE APPROACHES USED TO DETERMINE ELEMENTS OF SELF RELIANCE AND ENTREPRENEURSHIP

i.) Where and how they are applied

ii.) How they affect the structure organization and success of small enterprises

iii.) How nations further an entrepreneurship climate

DEMONSTRATION OF SELF RELIANCE AND ENTREPRENEURSHIP SKILLS

i.)   Through creativity risk taking and opportunity undertaking

ii.)  Through showing open ended opportunity and challenges

iii.)  Through making profit

iv.)  Using the learned skills to make right skills

v.)  Becoming bosses of their own destiny

vi.)  Applying supervision skill for their undertaking

*Entrepreneur can change their strategies so as to maximize profit, can work more hours and change even locality BUT a businessman always does the same thing regardless on profit or loss

CONSTRAINTS/REASONS FOR FAILURE OF YOUTH TO BE ENTREPRENEURS

i.) Lack of self reliance and entrepreneurship education

ii.) Lack of appropriate identification system

iii.)  Lack of initiatives to face risk in business due to the fear of getting loss

iv.)  Strict or hard conditions put by loan giving institutions – Many youth/entrepreneurs lack security(collateral)

v.)  The nature of innovative skills. Some are new business so it becomes more difficult to plan and understand it compared to a well established business

vi.)   The reluctance of people to accept changes from ways of acting even if better alternative is available

vii.)   Presence of bureaucracy in registration. Some of the projects need to be registered but it can take many months before securing registration or certificate of registration

viii.)  Presence of bureaucracy in the process of requesting loans

STRATEGIES FOR PROMOTING SELF RELIANCE AND ENTREPRENEURSHIP

i.) Provision of education and training to the youths and entrepreneurs

ii.)   Government should introduce national identification system. This might be seen as an experience exercise, but extremely important in order to enable Tanzania‘s to benefit not only from borrowing but also from other public services which they deserve

iii.)  SME/Entrepreneurs should deliberately build their credibility with banks even when they do not need to borrow

iv.) Banks should use a more active approach dealing with SMEs/ entrepreneurs instead of waiting for SMEs to visit banks. They should go out identify potential clients and convince them to work with the banks.

v.)  To improve/modify the school curricular as to accommodate self reliance and entrepreneurship.

vi.) Government should introduce entrepreneurial programs in vocational and technical school

vii.)   Government should establish a regulatory framework which does not favor borrowers in order to give financial institutions the confidence they need to lend

viii.)   Government should simplify tax system and introduce tax incentives to entrepreneurs or SME’s

ix.)  Government should direct the financial institutions to avail financial capital to entrepreneurs with soft loan or less restrict conditions

ADVANTAGES OF ENTREPRENEURSHIP AND SELF RELIANCE IN TANZANIA

–  Creates employment opportunity

– Adds to government revenue

– Assists in provision of social services

–  Poverty reduction

–  Individual and national development

–  Decrease the rate of crimes

–  Increase of goods and services production

–  They promote development of science and technology i.e use of ICT

–  Help the government of Tanzania to realize vision 2025, MDG 2015

ALL NOTES FOR ALL SUBJECTS QUICK LINKS:

AGRICULTURE O LEVEL

PURE MATHEMATICS A LEVEL

BAM NOTES A LEVEL

BASIC MATH O LEVEL

BIOLOGY O/A LEVEL

BOOK KEEPING O LEVEL

CHEMISTRY O/A LEVEL

CIVICS O LEVEL

COMPUTER(ICT) O/A LEVEL

ECONOMICS A LEVEL

ENGLISH O/A LEVEL

COMMERCE O/A LEVEL

ACCOUNTING A LEVEL

GENERAL STUDIES NOTES

GEOGRAPGY O/A LEVEL

HISTORY O/A LEVEL

KISWAHILI O/A LEVEL

PHYSICS O/A LEVEL

MOCK EXAMINATION PAPERS

NECTA PAST PAPERS

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Form 5 General Studies (GS) Study Notes General Studies (GS) Study Notes Msomi Maktaba All Notes FORM 5Technology