Page 70 - THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATIONS

P. 70

- 2 -

INSTRUCTION: Read EACH case and answer the questions which follow.

MODULE 1: ENTREPRENEURIAL MINDSET

Case 1: The Great Entrepreneur

John Harold Johnson, while at a presentation at his US high school, approached the guest speaker who was DO NOT WRITE IN THIS AREA
the president of a large black-owned insurance company with a request for support to go to college, as he did
not have the money to do so. The speaker invited him to meet with him in the fall, resulting in John getting
a part-time job in the black-owned insurance company to support his future studies. Shortly thereafter,
John became editor of the company’s in-house magazine, which focused on successful, contemporary
African-Americans. This inspired John to create a black American magazine called the Niagra Digest,
given that there were no other national black consumer magazines at the time. To finance his idea, he
borrowed $5 000 from his local bank using his mother’s prestige furniture as collateral. To break into the
market, John recruited his friends and gave them money to go around to various shops seeking to purchase
the new black magazine although John knew that his magazine was not being carried by many shops at
the time. This strategy was successful as the newsstands started to carry his magazine. He expanded his
business to include other magazines, an insurance company, radio stations and real-estate holding. John
overcame the obstacles of poverty, negativism and racism to reach great heights in the publishing world
and became the first black man to be named to the Forbes 400 List of Richest Men.

1. (a) Identify FIVE characteristics of an entrepreneur that were demonstrated by John. DO NOT WRITE IN THIS AREA

..............................................................................................................................................

.............................................................................................................................................. DO NOT WRITE IN THIS AREA

..............................................................................................................................................
[5 marks]

GO ON TO THE NEXT PAGE
02160020/CAPE 2013/SPEC
‘‘*’’Barcode Area”*”
Sequential Bar Code

65 66 67 68 69 70 71 72 73 74 75