Introduction
Welcome to BEM1O! On this exciting adventure into what it means to be an entrepreneur, you will develop essential skills to help you turn your innovative ideas into reality.
In this unit, you will be introduced to the concept of entrepreneurship, and you will learn about the entrepreneurial mindset. As you explore how entrepreneurs contribute to society, you will also learn about project management and different business leadership styles. The skills you develop will enable you to be successful in this course, and also in a globally connected and increasingly digital world.
Culminating Assignment
As you progress through this course, you will work on your culminating assignment, which consists of two key components:
- Business idea: You’ll present this in a final pitch presentation. This will allow you to apply what you've learned, from identifying a market need to pitching your idea to an audience. Keep this in mind as you progress through each learning activity—everything you learn will come together to help you prepare your final presentation.
- Portfolio: Your portfolio will be your opportunity to document your learning as you progress through the course. It will consist of documents that mark significant milestones along your journey of developing an entrepreneurial mindset. First drafts will be created throughout the course, and you will have the opportunity to refine your work before making your final submission in Learning Activity 4.5. Along with your original drafts and final revisions, you will submit a reflection that addresses the following questions:
- Describe the changes you made from the original version of the document to the final version, and explain how they improved your work.
- What was the most challenging part of creating, then improving the document? How did you manage that challenge?
- How did the document help you prepare your final pitch presentation?
Portfolio
Throughout this course, you will create and maintain a business portfolio that showcases your skills, learning, and growth as an entrepreneur.
Your portfolio will be your opportunity to document your learning as you progress through the course. It will consist of documents that mark significant milestones along your journey of developing an entrepreneurial mindset. First drafts will be created throughout the course, and you will have the opportunity to select key pieces in Learning Activity 4.5 and to reflect on how they contributed to your growth as an entrepreneur.
To keep your portfolio organized, it is recommended that you create a digital folder and title it “Entrepreneurship Portfolio”. Whenever you encounter a portfolio task, create a new file within the folder. Make sure to save each file with a name that helps you to easily identify the task. Consider including your name as well. For example: “Name_BusinessPitchSlides”.
Going forward, you will come across a variety of icons in this course. Check out the following descriptions for common icons you will encounter.
Assignment
The Assignment icon appears when you will be asked to complete a graded assessment.
Definition
The Definition icon appears when we are highlighting a new term. You’re encouraged to note down definitions in your vocabulary list.
Discover more
The Discover more icon includes information for you to learn more about a specific topic.
Notebook
The Notebook icon is used when you have to answer questions or write thoughts and ideas in your notebook.
Think
The Think icon indicates a moment for independent thinking and reflection.
Try it!
The Try it! icon indicates an opportunity to apply or expand your learning and knowledge in an activity.
Exploring the world of entrepreneurship
Can you imagine a world without smartphones, online learning, or eco-friendly products? Although these have been around for most of your lifetime, they began not long ago as ideas in the minds of entrepreneurs. This means that someone identified the need for a product or idea and took action to create a solution.
In this first learning activity, you’ll learn what entrepreneurship means, explore how entrepreneurs solve real-world problems, and discover the personal characteristics that make entrepreneurs successful.
Key terms
Create a vocabulary section at the beginning or end of your notebook. If you are using a digital notebook, create a separate tab for this. At the beginning of each learning activity, you will record a list of key terms in the vocabulary section of your notebook. Leave space to add definitions and examples when you come across each term in context. Feel free to additional terms if needed. At the end of the learning activity, you will be reminded to check that your vocabulary list is complete.
The key terms that you will encounter in this learning activity are:
- Entrepreneurship
- Entrepreneur
- Venture
- Social issues
- Economic issues
- Environmental issues
- Ethical issues
- Innovation
- Invention
- Diversity
- Indigenous Peoples
- Cultural appropriation
Learner Sophie and Santiago are introducing themselves.
Sophie: “Hi, I’m Sophie and this is Santiago. We are both taking the entrepreneurship class too.”
Santiago: “Thanks Sophie, I’m so excited to learn about this and to find out how I can turn all my ideas into a business!”
What do you already know?
Let's start by thinking about what you already know about entrepreneurship and business ventures.
Definition
Entrepreneurship
Entrepreneurship is the process of creating, organizing, and running a new business to meet a need or solve a problem.
Venture
A venture is a project or undertaking where an entrepreneur creates, organizes, and manages a business that seeks to develop a product or service in exchange for money.
Think
Consider the following questions. Take a few minutes to think about them and write down short notes to organize your ideas. Then, you will share your ideas in the discussion forum.
- What products or services do you use every day? List at least five. Examples might include your smartphone, social media apps, your favourite snack, online streaming services, or even your school supplies.
- Do you know who created these products or started these services? If you’re not sure, do a quick web search for the founders or companies behind these products.
Tip: Set a timer for 10 minutes to make sure you don’t get distracted online.
- Have you ever thought about starting your own business or creating something new? If so, what would it be?
As you work through each learning activity, you will be reminded to stop and summarize what you have just learned. The purpose of this summary is to take notes about important concepts, and to make connections to your daily life. Recording a clear and complete answer will be helpful later on when you are reviewing your notes, so your goal should be to create three to five well developed sentences to answer each question.
If you are using a digital notebook, you can record your thoughts in an audio file and if possible, transcribe your recording as well so you can search through your work later.
Notebook
Summarize your thoughts by answering the following questions in your notebook.
- How do you think entrepreneurs have impacted your daily life? Provide specific examples.
- Explain why you think it’s important to be aware of the role of entrepreneurs in society.
What is entrepreneurship?
Definition and role of entrepreneurship
Being an entrepreneur is about more than just starting a business. It's about challenging the status quo to identify opportunities, take calculated risks, and create value for others. When entrepreneurs create value, they aim to develop a product or service that makes life easier or solves a problem. This can take the form of a new invention or an innovation, and it involves taking the risk to often invest their own time, money, and resources with no guarantee of success. Many entrepreneurs start their businesses with a goal of making money, but often they have other motivations as well. At the end of this learning activity, you will look at how entrepreneurs create value by addressing societal issues.
Many entrepreneurs start their businesses with a goal of making money, but often they have other motivations as well. At the end of this learning activity, we will look at how entrepreneurs create value by addressing societal issues.
Definition
Entrepreneur
A person who starts and runs a business, taking on financial risks in the hope of earning a profit.
Invention
Something new that someone creates to solve a problem or make life easier.
Innovation
Taking an idea or an existing thing and making it better or finding a new way to use it.
In the video that follows, you will be introduced to the concept of entrepreneurship.
Explore this!
Explore the following video entitled Who Even Is An Entrepreneur? to learn more about the concept of entrepreneurship.
As you watch the video, think about who is considered an entrepreneur and what personality traits they display.
Notebook
Reflect on what you have learned by answering the following question in your Notebook.
- What does being an entrepreneur mean to you? This can include describing what an entrepreneur does, what personality traits they display, or anything new you learned while watching the video
Key entrepreneurial traits
As we explore entrepreneurship, it's important to understand the personal traits, or characteristics, that help entrepreneurs succeed in their ventures.
Press the following tabs to learn more about common entrepreneurial traits.
Entrepreneurs plan for the future. They set goals and consider the long-term impact of their actions. For example, an entrepreneur who wants to help prevent climate change could create a renewable energy solution.
Entrepreneurs see problems as opportunities to create solutions. An entrepreneur who notices a lack of healthy snack options in schools could start a company to provide them.
Teamwork and effective communication are essential for success! By working with a team, entrepreneurs can share their skills and ideas and provide feedback to one another as they build their businesses.
Entrepreneurs must be able to analyze information in order to make informed decisions and to solve complex problems. Evaluating their competitors and understanding what products and services are available on the market now will help them determine the best way to launch a new venture.
Identifying potential risks and finding ways to mitigate them means thinking about what could go wrong and coming up with strategies to solve those problems before they happen.
Entrepreneurs must be adaptable. This means they are resilient, open to feedback, and willing to adapt to change. At times, this may mean that they have to adjust their original business ideas based on customer feedback.
Entrepreneurs are people who come up with innovative ideas and find unexpected ways of turning them into reality. Sometimes this is referred to as “thinking outside the box.” They are also open to listening to others and taking into account their ideas and opinions.
Entrepreneurs are people who never stop learning! They seek out new ways to gain knowledge or to improve their skills. This may involve attending classes or workshops, or exploring new hobbies in order to discover new business opportunities.
Notebook
In your Notebook, summarize what you have learned about each of the entrepreneurial traits, then answer the following questions.
- Which of the entrepreneurial traits sounds the most like you? Which one sounds the least like you? Explain why and provide examples to support your answer
You'll continue exploring these traits throughout the course and in the next learning activity, you'll connect them to the entrepreneurial mindset.
Real-world entrepreneurs you may already know
Have you heard or read about Steve Jobs and Malala Yousafzai?
Press the following tabs to find out more.
Steve Jobs
Steve Jobs co-founded Apple and revolutionized personal computing, music, and mobile phones by recognizing opportunities and being future-oriented. His creativity and risk-taking led to the development of products like the Mac laptop and desktop computers, iPhones, and iPads.
Malala Yousafzai
Malala Yousafzai started a movement for girls' education, demonstrating courage, communication, and resilience. Though not a traditional entrepreneur, she embodies entrepreneurial traits by creating an organization that addresses a critical social issue.
You may also be aware of some less famous entrepreneurs closer to home such as in your local community.
Press the following tabs to find out more about where you can find entrepreneurs.
A conversation between learner Sophie and Santiago.
Sophie: My aunt runs an art gallery – is she an entrepreneur?
Santiago: That’s depends. Did she open the gallery herself, or does she work for someone else?
Sophie: She opened the gallery a few years ago when she realized that local artists needed a space to meet and display their work.
Santiago: Wow! That sounds pretty brave!
Sophie: Yeah, she had trouble getting permits from the city but she wouldn’t give up and eventually everything worked out.
Santiago: That’s great! I’d say she’s definitely an entrepreneur. I hope we can go see it one day!
Notebook
Reflect on what you have learned and answer the following questions in your notebook.
- Think of a specific person (or group) in your life that you would consider to be an entrepreneur. Explain what makes you think so.
- Briefly describe what you know about the business that this person (or group) started. What do they do? What were their motivations for starting the business?
Entrepreneurs addressing societal issues
While many businesses are started with a goal of making money, entrepreneurs often address significant issues that affect society. By leveraging their entrepreneurial traits, they create ventures that make a positive impact on their local community or sometimes even on the whole world.
Press the following tabs to learn more about the societal issues entrepreneurs tackle by using their entrepreneurial traits.
Social issues include challenges affecting people’s well-being within a society, and may include access to education, healthcare, homelessness, and discrimination.
Record the following definition in your vocabulary list.
Social issues
Problems that affect people within a society, such as poverty, education, and healthcare access.
Mukluks
Sean McCormick
Sean McCormick is a Métis entrepreneur who began Manitobah Mukluks in 2008. The company is strongly connected to its roots and creates authentic, Indigenous-designed products that return value to Indigenous communities through initiatives such as Art in Action, Education for Change, Trade for Community and Sovereignty Through Leadership. They offer free courses to Indigenous youth to teach them about the tradition and skill involved in crafting mukluks, and they support Indigenous artists by selling their products and returning 100 percent of profits back to them. In growing his business, Sean demonstrated the following entrepreneurial traits:
- Recognizing opportunities: Saw a demand for authentic Indigenous footwear.
- Being future-oriented: Aimed for long-term social impact.
- Dealing with adversity: Navigated challenges in creating a sustainable business model.
Economic issues include challenges related to wealth, employment, and economic growth. Examples of economic issues include poverty, unemployment, economic inequality, and lack of access to financial services.
Record the following definition in your vocabulary list.
Economic issues
Challenges related to the economy, like unemployment, inflation, or economic inequality.
Muhammad Yunus
Muhammad Yunus
Muhammad Yunus started Grameen Bank because he saw that people in Bangladesh lacked access to traditional banking services. His company started providing small loans to people across Bangladesh, helping them get out of poverty. Muhammad helped millions of Bangladeshi entrepreneurs start businesses, which reduced poverty levels, and was awarded the Nobel Peace Prize in 2006. In starting his business, Muhammad demonstrated the following entrepreneurial traits:
- Critical thinking and problem solving: Developed an innovative banking model.
- Anticipating and managing risk: Assessed the risk of lending to those without collateral (i.e. they did not own anything that could be used to secure the loan) and found ways to address it.
- Communicating and collaborating: Worked with local communities to build trust.
Environmental issues relate to the natural environment and its protection. These may include climate change, pollution, deforestation, and loss of biodiversity (for example, endangered species). Sometimes, young people can look at large-scale problems with significant real-world implications and see opportunities for addressing them.
Record the following definition in your vocabulary list.
Environmental issues
Concerns about the natural environment, such as pollution, climate change, or resource depletion.
The SunSaluter
Eden Full Goh
As a teenager in Calgary, Alberta, Eden Full Goh invented a low-cost mechanism that attached to solar panels and allowed them to capture 30 percent more electricity by following the sun throughout the day. This science project eventually evolved into the SunSaluter, which integrates a water filtration system that acts as a counterweight to adjust the angle of solar panels. This system provides clean water and electricity to communities in India, Kenya, Egypt, Uganda and Tanzania, and the company shares free instructions so people around the world can create their own SunSaluter. In creating this business, Eden demonstrated the following entrepreneurial traits:
- Being future-oriented: Focused on sustainable energy solutions for future generations.
- Creativity: Pioneered advancements in solar power and water purification technology.
- Recognizing opportunities: As a small company, SunSaluter could not reach all the people who needed their product, so they shared the design, allowing communities to build and customize as needed.
In the context of entrepreneurship, ethical issues include concerns related to business practices. These include unfair labour practices (for example, workers’ rights), threats to consumer privacy, irresponsible material sourcing, and a lack of transparency in business operations.
Record the following definition in your vocabulary list.
Ethical issues
Questions about what is right and wrong, often related to fairness, justice, and moral values.
Allbirds
Allbirds is a company committed to social justice, environmental sustainability, and fair trade. Their carbon neutral, machine washable shoes are made from merino wool in factories with strict codes of conduct regarding the treatment of their workers. Founders Tim Brown and Joey Zwillinger take corporate social responsibility seriously and frequently donate to social and environmental causes. They show that you can make money while also doing good things for society. In starting their business, Tim and Joey demonstrated the following entrepreneurial traits:
- Ethical decision-making: Made ethics a key priority in their business operations.
- Communicating and collaborating: Engaged with communities and stakeholders to address local issues.
- Being lifelong learners: Continuously improved practices based on feedback.
Notebook
In your Notebook, summarize your thoughts by answering the following questions:
- Do you think entrepreneurs have a responsibility to address societal issues? Explain your answer.
- Which issues do you think entrepreneurs should be most concerned about? Identify at least two issues and explain your reasoning.
Portfolio
Let’s take a moment to research other entrepreneurs who have started businesses to address societal issues.
Step 1: Select one societal issue (social, economic, environmental, or ethical) that is important to you.
Press the Tips button to learn more.
- Think about problems you've noticed in your community or issues you're passionate about.
- Use the internet to search for articles, company websites, and news reports about an entrepreneurial venture that addresses that issue.
- Keep a list of all sources so you can create an APAopens in a new tab style works cited list.
Step 2: Gather the following information to ensure you are successfully meeting the requirements of this task:
- Name of the venture
- Who started it?
- What motivated them to start this business? Did they have a personal connection to the issue they set out to solve?
- What societal issue(s) are involved?
- How are they addressing the problem?
- Which entrepreneurial traits do they demonstrate?
- What difference have they made?
Step 3: Present your findings as a written summary, infographic or brief slide presentation.
Step 4: Save your work in your portfolio folder.
Contributions of diverse entrepreneurs
Diversity refers to the inclusion of people such as those of different races, cultures, genders, and abilities. Entrepreneurs from diverse backgrounds bring unique perspectives to their business ideas which can lead to innovative solutions that enrich the entrepreneurial landscape.
Definition
Diversity
The inclusion of different types of people, such as those of different races, cultures, genders, and abilities.
Why diversity matters in entrepreneurship
- Innovation: Diverse experiences lead to creative ideas and solutions.
- Representation: Encourages inclusivity and inspires others from similar backgrounds.
- Economic growth: Broadens markets and meets the needs of various communities.
Let’s take a look at some entrepreneurs who come from a variety of backgrounds.
Press the following tabs to find out more.
Ann Makosinski
Ann Makosinski is a Canadian inventor of Filipino and Polish background. She started inventing at a young age. In 2013, she created the Hollow Flashlight, a flashlight that does not use batteries after she saw that many communities around the world did not have access to electricity. The Hollow Flashlight did not use batteries or electricity. Instead, the heat of a human hand could turn the light on. Ann won many awards for her invention and inspired young inventors around the world.
By creating this venture, Ann demonstrated these entrepreneurial traits:
- Creativity: Developed a unique energy solution.
- Critical thinking: Applied scientific principles to solve a real-world problem.
- Being a lifelong learner: Continuously explores new ideas and inventions.
Masai Ujiri
Masai Ujiri was born in Nigeria and immigrated to the United States and later Canada. He was a former professional basketball player. Masai held senior leadership roles with the Toronto Raptors from 2013 to 2025 and is the founder of the Giants of Africa. He saw that there were limited opportunities for African youth in sports and education, so Masai reflected on his past as a basketball player and used the sport to inspire and empower youth across Africa. He runs basketball camps that promote education, leadership, and personal growth.
Masai demonstrated the following entrepreneurial traits:
- Communicating and collaborating: Builds partnerships to support programs.
- Being future-oriented: Aims to create lasting change for future generations.
- Creativity: Uses sports to take communities out of poverty.
Indigenous entrepreneurs
The term Indigenous Peoples refers to the original inhabitants of a region. In North America, which includes Canada, the Indigenous Peoples of Turtle Island are First Nations, Métis, and Inuit. Since time immemorial, Inuit have lived and thrived in Inuit Nunangat, a homeland encompassing 36 per cent of Canada’s landmass and 50 per cent of its coastline. In the late 1700s, European fur traders began settling on Turtle Island and encountered First Nations Peoples. The Métis Nation arose as a mixed-heritage Indigenous population resulting from interaction between First Nations groups and European settlers.
Definition
Indigenous Peoples
The original inhabitants of a region; in Canada, this includes First Nations, Métis, and Inuit peoples.
Indigenous entrepreneurs contribute significantly to Canada's economy and cultural richness. They bring unique perspectives rooted in their heritage, often focusing on community well-being and protecting the environment. For example, Indigenous entrepreneurs often help promote:
- Cultural values: Emphasize community, sustainability, and respect for the land.
- Economic development: Create opportunities within Indigenous communities.
- Cultural preservation: Promote and preserve Indigenous traditions and knowledge.
Let’s learn about a few Indigenous entrepreneurs and the businesses they have created.
Think
As you watch each video, think about the entrepreneurial traits that Jenn and Kendal display, as well as the role that their heritage played in their entrepreneurial journey.
Press the following tabs to find out more.
Notebook
Select one of the four entrepreneurs profiled above (Ann Makosinski, Masai Ujiri, Jenn Harper or Kendal Netmaker). Then, answer the following questions in your notebook.
- What role did their heritage play in their journey as an entrepreneur?
- Which entrepreneurial traits did they demonstrate?
- Does their story inspire you to incorporate your own background and experiences into your future business ideas? Why or why not?
Challenges faced by Indigenous entrepreneurs
Indigenous entrepreneurs can face many barriers when it comes to accessing supports and resources to launch their business ideas.
Read the article Barriers and Hurdles: Indigenous Entrepreneurship in Canadaopens in a new tab to learn more about challenges and opportunities that affect Indigenous entrepreneurs.
Notebook
Reflect on what you have read, then answer the following questions in a Notebook entry:
- Describe some of the challenges faced by Indigenous entrepreneurs.
- Identify strategies that have been implemented to overcome the challenges you described in your previous answer.
- Propose another strategy that could be helpful to Indigenous entrepreneurs.
Recognizing cultural appropriation in business
Cultural appropriation is when someone takes parts of another culture, often without understanding or respecting its significance, and uses them in a way that can feel disrespectful to the people of that culture. This can include cultural elements like clothing, symbols, art, food, language, or traditions.
Definition
Cultural appropriation
When someone takes or uses parts of another culture, often without understanding or respecting its significance.
In contrast, cultural appreciation occurs when there is a genuine desire to embrace another culture, and learning about the culture is the direct result of interaction with people from that group. Earlier, you were introduced to Manitobah Mukluks. The company addresses the issue of cultural appropriation directly, saying that their moccasins and mukluks are intended for everyone, even people outside their community. Furthermore, because purchases directly support their community and celebrate their culture as they own designers and manufacturers intend, they consider this to be cultural appreciation, not cultural appropriation.
In the following video from TVO Today, the panel discusses issues around eating, cooking or selling foods from different cultures around the world.
Check out the following video entitled “What is Cultural Appropriation in Food?” to learn more.
In a business context, cultural appropriation can happen when a business or entrepreneur uses parts of a culture to make money or market a product without giving credit to that culture. Therefore, when starting a business, it’s important to be aware of and to respect the cultures you might be borrowing from, and to give credit to, collaborate with people from those cultures, and understand the importance behind what you’re using.
Discover more
Are you aware of any examples of cultural appropriation in business that have made the headlines in Canada? If not, conduct a brief search online. (Don’t forget to set a timer!)
In your notebook, select one situation, summarize what happened, and explain how the company handled it. Do you have any suggestions for what they could have done differently?
Putting it all together
In this learning activity, you have learned that entrepreneurs are agents of change who address societal issues through innovation and enterprise, and they display entrepreneurial traits such as creativity, problem-solving, resilience, and communication are essential for success. Diversity in entrepreneurship enriches ideas, fosters inclusion, and drives innovation, and Indigenous entrepreneurs bring valuable perspectives that combine cultural heritage with modern business practices. Your journey as an aspiring entrepreneur begins with recognizing opportunities and developing the traits necessary to turn ideas into action.
Vocabulary review
At this time, you should check that the vocabulary list in your notebook has been updated to include definitions of the words associated with this learning activity. If you haven’t already done so, add an example or paragraph that uses each word in the context of what you have learned about.
Thinking about the culminating activity
Throughout this course, you'll develop your own business idea to address a societal issue that matters to you. By the end of the course, you'll create a prototype, refine your idea, and eventually present it in a pitch presentation. Start thinking about:
- What problems do you see in your community or the world that you'd like to solve?
- Which entrepreneurial traits will help you address these problems?
- How can you leverage your unique background and experiences in your venture?
- What are two potential ideas for your culminating activity?
Self-check quiz
Check your understanding!
Complete the following self-check quiz to determine where you are in your learning and what areas you need to focus on.
This quiz is for feedback only, not part of your grade. You have unlimited attempts on this quiz. Take your time, do your best work, and reflect on any feedback provided.
Press Quiz to access this tool.
Conclusion
Congratulations on completing Learning Activity 1.1! You've taken a big step in understanding entrepreneurship and the traits that drive successful ventures. Keep reflecting on how these concepts apply to your life and consider how you can make a positive impact through your ideas.
In Learning Activity 1.2, you'll dive deeper into the entrepreneurial mindset, exploring how you can develop entrepreneurial traits and apply them to your own entrepreneurial journey.
Connecting to transferable skills
Ontario worked with other provinces in Canada to outline a set of competencies that are important to have to be successful in today’s world. Ontario then developed its Transferable Skills Framework as a set of skills for students to develop over time.
Explore the following video to learn about each of the seven transferable skills.
To learn more about each of the transferable skills, read the following document entitled Transferable Skills Overview (Opens in a new tab) to explore the framework and the descriptors for each skill. Download, print, or copy the information in the document into your notes - you'll refer to it in each unit.
Throughout this course, you will be given the opportunity to reflect on the transferable skills you are developing. Keep your notebook up-to-date and be mindful of opportunities to apply and develop transferable skills.