Departments › Electronics Engineering › Module IV › Entrepreneurial Skills

Entrepreneurial Skills

Electronics Engineering · Level 5  ·  6 Chapters

Compiled by: Bonface Omondi

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What Entrepreneurial Skills covers

Entrepreneurial Skills in Electronics Engineering Level 5 introduces the money and business ideas needed to work for yourself. Financial literacy covers personal finance, budgets, saving, debt, investments and insurance. The entrepreneurial concept looks at entrepreneurs and business persons, types of entrepreneur, characteristics, and the difference between salaried employment and self-employment. You then identify business ideas and evaluate opportunities, study forms of business ownership, registration, contracts, employment and taxation laws, and explore creativity, innovation and ICT in business. The unit ends with writing a business plan covering marketing, management, operations, finance and presentation.

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Careers after Entrepreneurial Skills

Self-employment is one route open to an electronics graduate, and this unit shows how to prepare for it.

  • Small repair workshops in Machakos - You prepare a budget, manage savings and debt and decide how to price your work. You earn from repairs and parts sales.
  • Wiring and installation businesses in Eldoret - You register the business, obtain licences and understand contracts, employment and taxation laws. You earn per wiring contract.
  • Electronics shops and parts dealers in Kakamega - You judge business opportunities, learn from the business life cycle and plan marketing.
  • Technology service ventures in Kisii - You use creativity, innovation and ICT to grow a business and build entrepreneurial linkages.
  • Business incubation programmes in Nakuru - You prepare an executive summary and business plan presentation for your idea, and you learn how incubation can help turn the idea into a working enterprise.

Insurance and savings decisions protect the business when work is slow, and a clear budget shows how long it can last.

Chapters

1
Apply financial literacy
13 topics
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2
Apply the entrepreneurial concept
8 topics
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3
Identify entrepreneurship opportunities
3 topics
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4
Apply business legal aspects
5 topics
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5
Innovate business strategies
4 topics
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6
Develop a business plan
9 topics
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What Entrepreneurial Skills covers: 42 main topics in 6 chapters

1. Apply financial literacy

  1. 1.1 Personal finance management
  2. 1.2 Balancing between needs and wants
  3. 1.3 Budget Preparation
  4. 1.4 Saving management
  5. 1.5 Factors to consider when deciding where to save
  6. 1.6 Debt management
  7. 1.7 Factors to consider before taking a loan
  8. 1.8 Investment decisions
  9. 1.9 Types of investments
  10. 1.10 Factors to consider when investing money
  11. 1.11 Insurance services
  12. 1.12 insurance products available in the market
  13. 1.13 Insurable risks

2. Apply the entrepreneurial concept

  1. 2.1 Difference between Entrepreneurs and Business persons
  2. 2.2 Types of entrepreneurs
  3. 2.3 Ways of becoming an entrepreneur
  4. 2.4 Characteristics of Entrepreneurs
  5. 2.5 salaried employment and self-employment
  6. 2.6 Requirements for entry into self-employment
  7. 2.7 Roles of an Entrepreneur in an enterprise
  8. 2.8 Contributions of Entrepreneurship

3. Identify entrepreneurship opportunities

  1. 3.1 Sources of Business Ideas
  2. 3.2 Factors to consider when evaluating business opportunity
  3. 3.3 Business life cycle

4. Apply business legal aspects

  1. 4.1 Forms of business ownership
  2. 4.2 Business registration and licensing processing
  3. 4.3 Types of contracts and agreements
  4. 4.4 Employment laws
  5. 4.5 Taxation laws

5. Innovate business strategies

  1. 5.1 Creativity in business
  2. 5.2 Innovative business strategies
  3. 5.3 Entrepreneurial Linkages
  4. 5.4 ICT in business growth and development

6. Develop a business plan

  1. 6.1 Business Description
  2. 6.2 Marketing Plan
  3. 6.3 Organizational/Management Plan
  4. 6.4 Production/operation plan
  5. 6.5 Production/operation plan
  6. 6.6 Financial plan
  7. 6.7 Executive summary
  8. 6.8 Business plan presentation
  9. 6.9 Business idea incubation

Revise this unit

Exam-style questions 84 Written to CDACC standard, with answers Test yourself 244 Multiple-choice, one at a time Practise questions 182 Quick recall — check you know the facts
3 more for this unit
Oral exam preparation 61 What the assessor asks, and how to answer out loud Worked calculations 31 Step-by-step maths with the common mistakes Quick cards 1,172 Myth busters, skill tips and scenarios

Beyond the syllabus

Decision simulator 6 On site, what would you do? Workplace scenarios 101 Real site situations — what would you do? Turn this into income 60 Where this skill earns — what to charge, how to find clients

Other units in Module IV