Departments › Electronics Engineering › Module IV › Entrepreneurial Skills

Entrepreneurial Skills

Electronics Engineering · Level 6  ·  6 Chapters

Compiled by: Winnie Cherono

Can I download Entrepreneurial Skills notes as a PDF?

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What Entrepreneurial Skills covers

Entrepreneurial Skills in Electronics Engineering Level 6 prepares a technician to move from an idea to a written business plan. The plan rests on money skills: personal finance, needs against wants, budgets, saving, debt, investment decisions and insurance. Entrepreneurs are told apart from business persons, and salaried employment is weighed against self-employment. Business ideas are sourced and evaluated, and the business life cycle is traced. Legal aspects include ownership forms, registration and licensing, contracts, employment laws and taxation. Creativity, innovation strategies, entrepreneurial linkages and ICT lead into the business plan, from description and marketing plan to financial plan, executive summary, presentation and incubation.

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Careers after Entrepreneurial Skills

This unit takes you from managing your own money to presenting a written business plan, and each step suits a different route into electronics work.

  • Home and office security installers in Lodwar - register the business, obtain licences and learn the tax laws that apply. You earn per installation once the business is licensed.
  • Solar and lighting kit sellers in Busia - source and evaluate business ideas and follow the business life cycle. You earn from sales margins.
  • Technicians' savings groups and partnerships in Meru - compare forms of business ownership and use insurance to cover insurable risks. You earn as a partner in the business.
  • College incubation workshops in Homa Bay - present a business plan and test an idea through incubation. You earn once the idea reaches customers.
  • Wage posts in electronics firms in Migori - weigh salaried employment against self-employment, and budget and invest what you earn. You earn a salary while you build savings.

Choose the route closest to your plans and sketch the business plan you would present for it.

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
Open chapter →
4
Apply business legal aspects
5 topics
Open chapter →
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