1 GS GIHETA /TSS A A CADEMICYEAR :2025 - 2026 Prepared by MBONIMANA ELIAS. O ’ LEVEL ENTREPRENEURSHIP NOTES SENIOR O N E 1 CONTENTS UNIT I. MEANING, ROLES AND CHARACTEISTICS OF AN ENTREPRENEUR ................................ ................................ ............... 2 1.1. Concept of entrepreneurship ................................ ................................ ................................ ................................ ............. 2 1.1.1. Characteristics of entrepreneurship ................................ ................................ ................................ .............................. 2 1.2. AN ENTREPRENEUR ................................ ................................ ................................ ................................ ....................... 3 1.2.1. Characteristics of a good entrepreneur ................................ ................................ ................................ ........................ 3 1.2.2. Roles of an entrepreneur in entrepreneurship ................................ ................................ ................................ .............. 3 1.3. An enterprise and Enterprising person ................................ ................................ ................................ ................................ ...... 4 1.3.1. Characteristics of enterprising person ................................ ................................ ................................ ................................ 4 1.4. INTRAPRENEURSHIP ................................ ................................ ................................ ................................ .............................. 4 1.4.1. Importance o f intrapreneurship ................................ ................................ ................................ ................................ .......... 4 1.4.2. Characteristics of an intrapreneur ................................ ................................ ................................ ................................ ...... 5 1.4.3. Distinguishing between an entrepreneur and intrapreneur ................................ ................................ ................................ 5 UNIT II: PERSONAL, VALUES, SKILLS AND CHARACTERISTICS ................................ ................................ ................................ ... 6 2.1. Definition of concepts ................................ ................................ ................................ ................................ ................................ 6 2.2. Personal qualities ................................ ................................ ................................ ................................ ................................ ...... 6 2.3: Importance of personal qualities to personal, social, emotional and economic well - being ................................ ...................... 7 2.4. Developing self - awareness, self - esteem, confidence and positive attitude ................................ ................................ .............. 8 2.5. Personal qualities in relation to different situations ................................ ................................ ................................ ................... 8 2.5.1. Personal qualities in relation to entrepreneurship ................................ ................................ ................................ .............. 8 2.5.2. Personal qualities in relation to personal development ................................ ................................ ................................ ...... 8 2.5.3. Personal qualities in relation to engagement with society ................................ ................................ ................................ .. 9 2.5.3. Personal qualities in relation to school work ................................ ................................ ................................ ...................... 9 2.5.4. Personal quality in relation to workplace ................................ ................................ ................................ ............................ 9 2.6. Diversity and uniqueness as a source of success. ................................ ................................ ................................ .................... 9 UNIT III: WORK IN THE SOCIETY ................................ ................................ ................................ ................................ ..................... 10 3.1. Definition of key concept ................................ ................................ ................................ ................................ ......................... 10 3.2. Types of work ................................ ................................ ................................ ................................ ................................ .......... 10 3.2.1. Types of work according to activities ................................ ................................ ................................ ............................... 11 3.3. Myths and beliefs about work ................................ ................................ ................................ ................................ .................. 11 3.3.1. MYTH ................................ ................................ ................................ ................................ ................................ ............... 11 3.4. Dignity and value of work ................................ ................................ ................................ ................................ ........................ 12 UNIT IV. CONCEPT OF NEEDS, WANTS, GOODS AND SERVICES. ................................ ................................ ............................. 12 4.1. Concept of needs ................................ ................................ ................................ ................................ ................................ .... 12 4.1.1. Needs: ................................ ................................ ................................ ................................ ................................ .............. 12 4.1.2. Types of needs ................................ ................................ ................................ ................................ ................................ 12 4.1.3. Goods and services ................................ ................................ ................................ ................................ ......................... 13 4.2. Relationships between concepts ................................ ................................ ................................ ................................ ............. 14 4.3. Consumption of goods and se rvices ................................ ................................ ................................ ................................ ....... 14 4.3.1. Meaning ................................ ................................ ................................ ................................ ................................ ........... 14 4.3.2. Types of consumption ................................ ................................ ................................ ................................ ...................... 14 4.3.3 . Factors influencing consumption of goods and services ................................ ................................ ................................ .. 14 UNIT V. FINANCIAL AWARENESS ................................ ................................ ................................ ................................ ................. 15 5.1. Concept of finance ................................ ................................ ................................ ................................ ................................ ... 15 5.1.1. Need for finance ................................ ................................ ................................ ................................ ............................... 15 5.1.2. Characteristics of business finance ................................ ................................ ................................ ................................ .. 15 5.2. SOURCES OF BUSINESS FINANCE ................................ ................................ ................................ ................................ ..... 15 5.3. SAVINGS ................................ ................................ ................................ ................................ ................................ ................. 16 5.4. BORROWING ................................ ................................ ................................ ................................ ................................ .......... 17 5.5. Debt management ................................ ................................ ................................ ................................ ................................ ... 18 5.7. The use of debit and credit cards ................................ ................................ ................................ ................................ ............ 18 UNIT VI: INITIATION TO ACCOUNTING ................................ ................................ ................................ ................................ ........... 20 6.1. Meaning of concepts ................................ ................................ ................................ ................................ ....................... 20 6.1.1. Difference between accounting and bookkeeping ................................ ................................ ................................ ...... 20 6.1.2. Importance of accounting records ................................ ................................ ................................ .............................. 21 6.2. Business records/source document ................................ ................................ ................................ ................................ 21 6.3. Users of accounting information ................................ ................................ ................................ ................................ ...... 21 6.4. Business transactions ................................ ................................ ................................ ................................ ...................... 22 2 6.5. Modes of payment ................................ ................................ ................................ ................................ ........................... 25 UNIT VII: FA CTORS AND INDICATORS OF BUSINESS GROWTH ................................ ................................ ................................ 26 7.1. Meaning of concepts ................................ ................................ ................................ ................................ ............................... 26 7.2. Factors leading to business growth ................................ ................................ ................................ ................................ ......... 26 7.3. Constraints of business growth ................................ ................................ ................................ ................................ ............... 26 7.4. Indicators of business growth ................................ ................................ ................................ ................................ ..... 27 7 .5. Indicators of business failure ................................ ................................ ................................ ................................ ....... 27 7.6. Solution to the constraints of business growth ................................ ................................ ................................ ......... 28 UNIT VIII: CONCEPT OF STANDARDIZATI ON ................................ ................................ ................................ ................................ 28 8.1. Meaning of terms ................................ ................................ ................................ ................................ ................................ ..... 28 8.2. The importance of standards ................................ ................................ ................................ ................................ ................... 29 8.3. Levels of standardization ................................ ................................ ................................ ................................ ......................... 29 8.4. Types of standards ................................ ................................ ................................ ................................ ................................ .. 31 UNIT I. MEANING, ROLES AND CHARACTEISTICS OF AN ENTREPRENEUR 1.1. C oncept of entrepreneurship Entre preneurship is a process of identifying business opportunities from the environment , g athering, organizing the necessary resources and using them to start up/initiate an enterprise and organize production of goods and services and marketing them. Entrepren eurship is the starting of new business in response to identified opportunities. Entrepreneurship education: it is educating and teaching concerned with providing learners with basic knowledge, skills and motivation to create and operate their own business successfully using the available resources. Reasons of studying entrepreneurship To enable learners acquire basic knowledge and skills necessary or required to start up, operate and manage business. To build culture of thinking toward job creation among the learners To provide learners with a theoretical framework which enables them to identify the opportunity in their environment. To enable the learners know that business is a career like other professions such as teaching, accounting and many others T o encourage learners to participate in production before and after leaving school. - to improve on the skills of existing entrepreneurs in the country - to improve standard of living for the learners and citizens in the whole country. - To reduce the depend ency syndrome in the country. - to build self confidence and awareness among the learners such that they can identify they potential. 1.1.1. Characteristics of entrepreneurship Entrepreneurship is characterized by: 3 Risk bearing capacity Ability to create an ente rprise Organizing function Innovation Gap filling Managerial and leadership function 1.2. AN ENTREPRENEUR An entrepreneur is a person who has the ability to identify business opportunities, organize resources and use them to start a business that produce marke table goods and services in order to make profits. 1.2.1. Characteristics of a good entrepreneur A good entrepreneur will have the following characteristics/qualities H ard working : he /she should put in great effort with commitment to ensure the success of the bu siness. He should be willing to work for long hours. Creativity and innovation : this is using one's original ideas and critical thinking so as to analyse different situation Risk taking : a successful entrepreneur should be to bear risks. This is because a ny new business is likely to pose numbers of risks Goal setter : he /she be able to set realistic goals that are achievable in the set period of time. F lexible : he /she should be able to change or be changed easily according to the changing situations and sh ould possess desire for change and constant improvement. I nnovative : they Should always introduce new changes and ideas and think positively to get over failure persisten t: a good entrepreneur should continue to operate even in times of failure and diffic ulty if he is to be successful in business. Self confidence : he should have self confidence in himself and his business. He should be comfortable with having decision resting upon him or her. Accountable : He /She should be able to measure the performance of the business transactions. Devoted : he should extremely love and be loyal to the business and his customers and should do this whole heatedly. Focused : he should always direct attention towards fulfilling the set goals Ambitious : he should have great desire to be successful, Powerful and wealthy. information seeking : he should look for or try to find information concerning all aspects of his business Persuasive : He should be able to convince people to do something especially when they have the ability to buy the product but are not willing to consume or when they are undecided. Accommodative : He should give the customers what they need and, also be caring and welcoming. He should listen and communicate well. 1.2.2. R ole s of an entrepreneur in entrepreneursh ip An entrepreneur performs the following functions: - S canning environment: is the acquisition and use of information, trends and relationships in an organization 4 - I dentification business opportunity : implies a good chance or favorable situation to do some thing offered by circumstances, a good or favorable change available to run a specific business in a given environment at a given point of time. - R esources mobilization is actually a process of raising different types of support for your organization - S etting up the business: refers to all activities involved in securing new and additional resources for your organization - R esources allocation: is the scheduling of activities and the resources required by those activities. 1. 3. An enterprise and Enterpri sing person i) E nterprise : is financially independent organism which produces market able goods and services for achievement of profit. ii) An enterprising person : is a person who takes on risky project or business in order to fill a need. 1.3.1. Characte ristics of enterprising person An enterprising person will have the following qualities: 1. H ave strong need for achievement : an enterprising person is energetic, highly motivated and works hard. 2. Resourcefulness : an enterprising person is able to deal with problems using what is available to create solutions 3. P erceptive : An Enterprising person does not avoid problems. Instead, when faced with problems, he or she sees them as opportunities or challenges. 4.Task oriented : to gain satisfying rewards, t asks have to be carried out and completed on time 5. Planner : to see the total picture of the Enterprise , it is necessary to have a written plan. 6. Risk takers : the decision to go ahead and start the enterprise or undertake activity must be made. 7. Abi lity to network : networking is important because it enables enterprising people to obtain information and learn from feedback from others., 8 I nnovation : this is the ability to apply new ideas or coming with new things in a business/organization 9. I nde pendent : it means from depending on others. They are able to make their own decisions and self - reliant 10 S killful : they have ability that enables them to carry out and complete activities. 11) Goal - oriented : enterprising people are results - oriented expe rts and set their own goal. 1. 4. INTRAPRENEURSHIP i) I ntrapreneurship : is the practice of creating new business undertakings within the boundaries of an existing enterprise or large organization. ii) I ntrapreneur : Is a person who while remaining within a large organization uses entrepreneurial skills to develop a new product or line of business as a subsidiary of the organization. iii ) A Subsidiary : is a business that is wholly or partially owned by another business (sometimes called the parent company). 1. 4.1. I mportance of intrapreneurship Intrapreneurship is important in the following ways: It encourages innovation It strategically guides an organization It leads to better decision making 5 It leads to expansion of and growth in an organization It increas es the spread of efficiency and effectiveness of technology It speeds up innovation. It leads to a competitive edge over competition or competitors 1. 4.2. C haracteristics of an intrapreneur There are a number of characteristics associated with an intrapre neur which distinguish him or her from the actual entrepreneur. The most common features are explained below: 1) Self - reliance : this is the ability of an intrapreneur to confidently make proper judgement and make his or her own decisions relating business op portunities. 2) D i plomatic : intrapreneur must avoid disrupting the people they work with and rely on. 3) Determined : intrapreneur accept the fact that they will face obstacles and people will be question their ideas. 4) Adaptable : intrapreneurs are flexible and abl e to use their situation to their advantages. 5) Courageous : an intrapreneur is not afraid of failing and being criticized. Intrapreneurs are aware that they may lose their job if their fail. 6) Resourceful : an intrapreneurs focus on making the most of the resou rces available without having to pay them. 7) Team building abilities : an intrapreneur has the ability to conduct internal team building. 8) Persuasive : this enables the intrapreneur to bring all people he or she works with abroad. 9) Planning and organizing : Busin ess needs prior planning since resources are always scarce and at times not budgeted by the entrepreneur. 10) Opportunity awareness : an intrapreneur should have the ability to identify and pursue an opportunity until a profitable new product is produced to ben efit the enterprise 1. 4.3. D istinguishing between an entrepreneur and intrapreneur i) S imilarities between entrepreneurship and intrapreneurship The following are the similarities between entrepreneurship and intrapreneurship 1) Both involve identification, rec ognition and pursuing of business opportunities 2) Both are driven by an individual who works with a team to bring the business idea to f ruition. 3) Both require that the entrepreneur or intrapreneur be able to balance vision with managerial skills and pro - activ eness with patience. 4) Both require a unique business ideas that takes the form of product ,process or service 5) Both entail a short period of time within which an idea can be successfully capitalized upon. 6) Both entail risk and require risk management strategi es 7) both require the entrepreneur or intrapreneur to combine existing and new resources to accomplish a goal and promote business growth. 8) Both involve si gnificant uncertainty. ii) D ifference between entrepreneurship and intrapreneurship The following table sho ws the differences between an entrepreneur and intrapreneur Differences E ntrepreneur I ntrapreneur Dependency An entrepreneur is independent in his operations. he or she owns the business He is dependent on the entrepreneur, that is, the owner of the orga nization Raising of funds He raises funds required for the business ent e rprise and sometimes he/she has to repay loans that may Funds are not raised by the intrapreneur. H e or she does not 6 have been required. also pay off the loans that may have been acqu ired. Risk An entrepreneur fully bears the risks involved in the business. An intrapreneur does not fully bear the risk involved in the business as he or she depends on organization. O peration He operates from outside the organization He operates from w ithin an already existing organisation. O rientation An entrepreneur often begin s his or her business with a newly set up enterprise which may provide a basis upon which other business ideas develop H e sets up his or her enterprise after working for some on e else’s organization Experience As an entrepreneur establishes new business, he or she does not possess any experience over the business He establishes his or her business after gathering experience through working in an already existing organization UNIT II : PERSONAL, VALUES, SKILLS AND CHARACTERISTICS 2.1 D efinition of concepts i) P ersonal development : is a way for people to assess their skills and qualities, consider their aims in life and set goals in order to realize and maximise their potential ii) Personal value s : are personal beliefs or feeling that something is important and worthwhile i) Personal skills : are things that you are good at doing. ii) P ersonal qualities : are characteristics such as patience, kindness and dependability that make up one ’s persona lity 2.2 P ersonal qualities They are personal characteristics of an individual T hey are what make up the person’s personality. Personal qualities may be part of a person’s nature may be developed through life experience. Examples of personal q ualities are: friendliness, respect, honesty, commitment, loyalty, integrity, caring, self - reli a nce and intelligence. i) FRIENDLINESS : It is the quality of being friendly. ii) RESPECT : Is the ability to appreciate, admire and have positive regard toward oneself and others. We can show respect by using kind words, being polite, being honest and not being wasteful among others. iii) INTELLIGENCE : It is the ability to acquire and apply knowledge, understanding and skills. An intelligent person: understands how much he or she does not know , he a sk s good question s, he is open - minded iv) LOYALITY : It is the quality of being loyal to someone or something. A loyal person is a trustworthy person. v) HONESTY : It is the ability to be truthful and faithful to oneself and to others.an honest person is sincere, frank, genuine and straightforward vi) SEL F - RELIANCE : It is the ability to depend on yourself rather than others, to get things done and to meet your own needs. vii) ACCOMPLISHMENT : It is something that has been achieved successfully. viii) CO MMITMENT : It is the state or quality of being dedicated to an activity. A committed person is not afraid of facing challenges. ix) DIGNITY : It is the quality of being worthy of respect. Dignity is concerned with how people feel, think, and behave in relation t o their worth or value and that of others. 7 x) Integrity : it is being true to yourself and knowing and doing what is right. The characteristics of person with integrity: confident, accountable, trustworthy, committed, responsible, truthful, loyal, honest, lea ds by example. xi) PRUDENCE : It is the act of being wise and careful in judgement. A prudent person is disciplined, humble , patient. He also admits his or her mistakes and learns from them. xii) TRUSTWORTHINESS : Is the quality of a person or a thing that is able to be relied on as honest or truthful. A trustworthy person is shown by : - tell ing the truth, the whole truth and nothing but the truth. - he/she does not cheat or steal - he/she does what he or she says he or she will do - he/she keeps private information - he/she does not say things that could hurt others. - he/she d oes not do things that could hurt others HOW TO BUILD TRUST Several characteristics enable an individual to earn trust from others. Being honest and truthful Being reliable, dependa ble and keeping promises Being fair, thus making unbiased decisions. Being caring and supportive. Being open to other people’s ideas even when they are different from your own Being loyal Being clear communicators. 2.3: I mportance of personal qualities to personal, social, emotional and economic well - being 2.3.1 P ersonal well - being : This refer to one’s welfare or wellness. Personal well - being helps to embrace change, feel positive about who they are and enjoy healthy, safe, responsible and fulfilled lives 2.3.2 S ocial well - being : This refers to the extent to which an individual feel a sense of belonging in the society. 2.3.3 E motional well - being : A positive sense of well - being which enables an individual to be able to function in society and meet the dem ands of everyday life. Signs of emotional well - being: Ability to talk with someone about your emotional concerns and share your feelings with others. Feeling content or satisfied most of the time Saying “no” when you need to without feeling guilty. Feelin g you have people in your life that care about you ( feeling you have a strong support network.) Being able to relax Feeling good about who you are. 2.3. 4. E conomic well - being : This means a person’s or family’s standards of living based on how well they ar e doing financially and in relation to business. Signs of economic well - being: Learning how to manage your money Establishing a personal budget Not living beyond your means Donate some of your money, if possible, to a charity or course you believe in. 8 Make a plan to pay back money that you owe others. Learning to avoid letting money be the driving force of your life. 2.4 D eveloping sel f - awareness, self - esteem, confidence and positive attitude a) Self - awareness : Is conscious knowledge of one’s own character istics, feelings , motives, behaviours, and desires.it simply means understanding that you are a separate and unique person from others. Self - awareness defines who you are, what you want, what you think and how you feel. Types of self - awareness. Private sel f - awareness: this is when an individual is aware of something about himself or herself that other people might not know. Public self - aw a ren e ss : this is when an individual is aware of how other people see him or her. b) Self - esteem : Is the positive or nega tive way an individual view himself or herself and how important they feel. I t also entails the desire to be held in high esteem by others. c) S elf - confidence : Is a feeling of believing in oneself, one’s abilities and qualities.an individual’s self - confid ence can be shown by his or her behavior, body language, how or she speaks, what he or she says, and so on. d) P ositive attitude : Is a person’s tendency to respond positively towards a certain idea, person, object, situation and life in general. Positive a ttitude manifests in positive thinking, constructive thinking, creative thinking, optimism, motivation and energy to do things and accomplish goals and an attitude of happiness. 2.5 P ersonal qualities in relation to different situations 2. 5. 1 P ersonal qu alities in relation to entrepreneurship C reativity: The ability to come up with clever and workable solution DETERMINATION: Ability to make decision Independence Confidence Human relations skills Communication skills P ersistence 2. 5. 2 P ersonal qualities i n relation to personal development Personal qualities enhance our personal development enabling us to better people in the society. Personal qualities for personal development include: Goal setting: identifying something that one wants to accomplish and es tablishing measurable goals and timeframes for its achievement. Responsibility: being responsible, answerable and accountable for something within one’s power, control, or management. Commitment: remaining focused on idea or task. Positive attitude: not le tting minor setbacks or challenges hinder one’s progress towards his or her overall goal. Persistence: remaining calm when dealing with difficult or annoying situation, task or person. Humility: being humble and being boastful Self - control : ability to mana ge one’s actions, feelings and emotions, particularly in situations of intense provocation or temptation. 9 2.5.3 P ersonal qualities in relation to engagement with society RESPECT: Treating others with a sen s e of wor th and admiration. INVOLVEMENT: Participa ting in an event or activity TOLERANCE: it makes a difference in an individual ‘s life and in the lives of others around him or her. JUSTICE: This is the quality of being just, equitable or morally righteous. EQUALITY: Having some rights in the society. EM PATHY: This is the ability to understand and share another person’s feelings, experiences and emotions FORGIVING: Forgiv e ness means letting go of hard or hurt feelings like anger, sadness or frustration that happen when you or someone else makes a mistake 2.5.3 P ersonal qualities in relation to school work Attentiveness Communication LOYALITY Honesty and trustworthiness Team player Respectful and responsible 2.5.4 P ersonal quality in relation to workplace Cooperation Respect Ethics Loyality Commitment C ommunication Self - management Problem solving Planning and organizing Integrity: it is the quality of being honest. 2.6 D iversity and uniqueness as a source of success. 2.6.1: Definition Diversity is the quality or state of having many different types, i deas, opinions , views or qualities. 2.6.2: Causes of similarities and differences in skills, values and abilities Training : the level of education attained may bring similarities and differences Desire : if one desires to do something, he or she will be better than anyone who has no desire. Environment : this greatly determines one’s personal skills, values and strengths. For example, if one is an environment where everyone looks at speaking English as a success to life then he or she will try to perfect i t. therefore, he or she will be better than those who do not have any strings attached on the language. The need at that time : if something is need at that time or is needed to solve a problem at that moment then one will try his or her best to perfect it as a way of solving an immediate problem. Level of determination : some people are not so much determined like others.in most cases, they easily give up in whatever they are doing and other are not determined to achieve their goals. 10 Attitude : one’s attitude towards something he or she is doing also determines the strength he or she puts in. that is, if one has strong attitude towards achievement of a certain goal, then he or she has to perfect his or her skills and apply more strength in what he or she does. Therefore, attitude causes differenc e in strengths Stated goals and objectives : a goal is a specific target that has to be achieved in the stated period of time.an objective is a set of targets to be achieved by a business. Therefore, if one has set goal s and objectives to be achieved then he or she has to work hard towards the set goals and objectives. 2.6.2: D iversity and uniqueness as a source of business success Diversity and uniqueness of personal qualities affects people’s interactions, thus contr ibute to business success in the following ways: Diversity brings together individuals with a range of experiences and perspectives. This enhances productivity in a business. Increased productivity leads to increased profitability and hence success. Divers ity and uniqueness improve interpersonal relationships, hence enhances team building. Diverse and uniqueness enable us to understand and appreciate our differences. Innovation and creativity flourishes when individuals of diverse and unique qualities are b rought together.it contributes to business products and services standing out in a crowded marketplace. This increases their competitive edge. Diversity and uniqueness contribute to an energized business environment. This, in turn, encourages communication and yields good business decisions. UNIT III : WORK IN THE SOCIETY 3.1 D efinition of key concept i) W ork: It is the use of p hysical or mental human effort to perform an activity with the expectation of benefiting from it. From the definition of work above, you can say that work is made up f ro m three major components, that is: Human effort: work can only be done by human being. It is either physical or mental effort but usually a combination of both. Work benefits someone doing it or others. 3. 2. T ypes of w ork a) P hysical work : refers to all tasks that mainly require physical strength or muscles to accomplish them E xamples of physical work are depicted by a factory worker that builds or assembles cars, or a produce worker that picks tea or coffee. the product ivity of physical work is measured in how many units per hour. H ow many cars built per week, or kilograms of tea picked per day. b) M ental work : is the work done mainly by use of mental effort or power. M ost people working in offices do mental work. A worker that design a car does mental work. T he productivity of mental work is measured in the final result to the company profit. Examples of people who are e ngaged in mental work include: accountant, teachers, radio presenters, authors, editors, lawyers , secret aries, judges. 11 3. 2.1. T ypes of work according to activities Most people in the society are involved in various types of activities or work. T hese activities may be classified as: agricul t ure, manufacturing, trading and service provision i) AGRICULTURE : It re fers to the rearing of animals and growing of crops. M any people in our communities a work in agriculture sector. Crop production: this is the practice of cultivating plants for food, animal feed or other commercial use. Livestock keeping: this is the prac tice of keeping animal for food or for sale. A gricultural animals kept in Rwanda include cows, goats, sheep , pigs, chicken and rabbits. Fishing and fish farming: fishing is the activity of catching fish, either for food or as a spot. F ish farming on the ot her hand , is the process of raising fish commercially in tanks or enclosed areas, usually for food. Beekeeping: this is the practice of rearing and breeding honeybees for food(honey) and wax. ii) MANUFACTURING : It involves transformation of raw materials into finis h ed products to meet the consumer’s expectations or specifications.it may include fabrication, processing or preparation of products. T hese products include foods, chemicals, textiles, machines and equipment. iii) TRADING : It is the exchange of finished p roducts, from either agriculture or manufacturing, for money without necessarily adding any value on them. trading activities involve basically buying and selling of products and services iv) SERVICE PROVISION : It is the act of performing a task for a busines s or person that wants or requires it in exchange for acceptable compensation. E xamples include secretarial, teaching, shop keeping, hairdressing and transport and communication Ways of earning income There are two ways in which people can get income: a) Po sitive ways: this is when income or money is obtained throughout work and legalized means. Examples include: profit from business, sale of personal properties like land, salaries and wages from employment, rent of a building , etc. b) Negative ways: these are means in which money is earned in illegal ways. Examples include: corruption, robbery and murder, prostitution, counterfeit like falsifying invoices to evade taxes, etc. 3.3. M yths and beliefs about work 3. 3 .1 MYTH A myth is a widely held (popular) but fa lse belief or idea about certain things. A belief, on the other hand, is an assumed truth or an acceptance that somethin g exists or is true, especially one without proof. P ositive and negative myths and beliefs about work i) Positive myths and beliefs Posit ive myths and belifs are those that encourage people to work.examples of positive myths and beliefs are: Hard work pays: this belief is often used to encourage people to work hard and avoid being idle. Anyone can start a business: this belief is often used to encourage anyo ne regardless of gender, education level and so on to get into business. ii) Negative myths and beliefs about work They discourage the people form working or prevent some people from doing certain kind of work. 12 below are some of the common belief about work: Entrepreneurs are rich because they cheat people Playing football is work for men Building houses is work f o r men Cooking is work for women House work is work for women People cannot start their own business with little money Looking a fter children is work for women 3. 4. D ignit