ICE 712S 1

Questions 1

Read the following case study and answer the questions that follow.

Entrepreneurship is a life-long journey.

As old as he might be in age, Uwe Rathmann puts men half his age to shame when it comes to energy, community involvement, and getting things done.

Knowing how active Rathmann is as a social entrepreneur, in community projects, and as a programmer, I was concerned that, despite his advanced age, I would not be able to find him sleeping at home, since he is not the type of person who sits about doing nothing. I made a call ahead of time. We agreed to meet at one of the town's gas stations and then go to his favorite local diner for a beverage.

I couldn't believe my eyes when I drove into the gas station. Rathmann was parked in a corner of the parking lot, his vehicle's boot wide open and a sign visible offering organic fertilizer for sale. When I stepped out of my car to see him, the lanky Rathmann said the first thing he said was that he had decided to make constructive use of the time, adding with a beaming smile that he had already sold 10 bags while waiting for me.

After abandoning the safety and security of work at Namibia's dawn of independence, Rathmann's first business endeavour was to bottle fruit juices. After a malaria outbreak in Namibia's northern areas, he wondered why the sole preventative solution was to spray chemicals on stagnant water. As a result, he started a mosquito net manufacturing company.

Rathmann's utilization of every free moment to meet a recognized need, in this case bagging and selling natural fertilizer in a largely rural region, did not surprise me, because that is the nature and character of an entrepreneur. They tend to make entrepreneurship a lifelong pursuit, always on the lookout for new company ventures.

In most cases, an entrepreneur's plans do not include retirement. Take, for example, the late Harold Pupkewitz, who grew a tiny family business begun by his father into one of Namibia's greatest corporations. Pupkewitz was still starting new firms and expanding existing ones until a few years before his death.

Many more business stars in Namibia, some well-known and others not so well-known, exhibit similar never-stop-thinking and business-doing tendencies. Oom Land Benade, a Rehoboth business figure, is a prime example. Every day of the week, he is at his most successful business venture, the town's most successful retailer.

Before his health deteriorated, Navin Morar of Chelsea Fashions was constantly looking for new business opportunities or figuring out how to improve on what he was currently doing. Despite the fact that his commercial empire is now managed by a management team on a daily basis, the legendary Aupa Frans Indongo still lives, dreams, and oozes business. Entrepreneurs seek out opportunities, assemble resources, and launch a company. They take on the risk of launching a business, and the reward comes in the shape of earnings. They rarely retire, so keep that in mind if you succumb to the business urge.

Source: The Namibian https://www.namibian.com.na/75860/read/Entrepreneurship-is-a-life-long-journey

Questions.

1.1 Would you describe Uwe Rathmann an entrepreneurial venture or an SMME? Motive your answer. (10 marks)

1.2 Rathmann is described as a social entrepreneur. What is a social entrepreneur and what makes Rathmann a social entrepreneur? (10 marks)

1.3 There are many other businesses started in Namibia, some known and others not so high-profile, that display similar never-stop thinking and doing-business habits. List the various reasons why entrepreneurship is important for a country such as Namibia. (10 marks)

1.4 Explain the difference between an idea and an opportunity. Make use of suitable examples in this regard from the article. (10 marks)

1.5 What do entrepreneurs do according to the article? (10 marks)