Explanation of Concept, Performance Assessment & Rubric

CAPTION 

Due to the fact that it gives key information to those involved in education, assessment is a vital component of the educational process. It offers observable proof that shows whether educational objectives are being met. To help the students with the evaluation, a rubric was created. It gives them more details about what is necessary to get marks. When the students use the rubric, any misunderstandings they might have had about the assignment might be cleared up. The rubric's second function is to help the teacher give grades. As there is no uncertainty in the grades pupils earn, the procedure is fairer.

ENTREPRENEURSHIP

One major concept in Principles of Business is Entrepreneurship. This concept was chosen because it is a topic that is vital to the existence of businesses and it can touch on other concepts in Principles of Business such as leadership styles and functions of government.

Since entrepreneurs have the potential to propel the country's economic growth, I want my form 4 students to understand why they are essential to market economies. By creating new products and services, they promote new employment, which eventually speeds up economic growth. Therefore, public policy that fosters entrepreneurship should be considered vital for economic success.

They must comprehend the numerous new prospects and occupations that entrepreneurship creates. Entrepreneurship generates a sizable number of entry-level jobs, which are essential for converting unskilled individuals into competent ones. It also hires, trains, and dispatches qualified individuals to large corporations. The rise in a country's overall employment rate is mostly attributable to the expansion of entrepreneurship. As a result, entrepreneurship significantly contributes to the development of new employment opportunities.

Through the appropriate procedures for research and development, entrepreneurs offer new innovation that opens the door to new businesses, markets, products, and technology. Entrepreneurs might contribute to the search for difficulties whose answers are not already provided by products and technology. Therefore, entrepreneurship has the potential to enhance people's lives by developing new products and services or bringing innovation to ones that already exist.

Entrepreneurs change or disrupt social conventions and cultures while relying less on antiquated procedures, methods, and technology. In essence, business owners pioneer the introduction of new technologies and practices that ultimately lead to societal changes. These changes are associated with a better way of life, charitable thinking, higher morale, and wiser financial choices. Therefore, as society changes, so do planetary, global, and regional changes. Therefore, it is crucial to understand the importance of social entrepreneurship.

Entrepreneurs promote research and development in addition to developing novel business ideas and exercising their imagination. They develop their ideas, give them a new life, and turn them into successful business endeavors.

The last thing I want my students to take away from this lesson is that while we typically think of entrepreneurs as producing wholly original products and ideas, they also have an impact on existing established businesses. Because of their distinctive ways of thinking, entrepreneurs are able to design innovative plans for expanding and improving already-established enterprises. Modernizing production processes, integrating new technology into all distribution and marketing strategies, and helping present firms utilize their current resources more effectively are a few examples.