Departments › Office Administration › Module IV › Entrepreneurial Skills

Entrepreneurial Skills

Office Administration · Level 5  ·  6 Chapters

Compiled by: Jane Jemutai

Can I download Entrepreneurial Skills notes as a PDF?

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What Entrepreneurial Skills covers

Money, ideas, law and planning meet in Entrepreneurial Skills for Office Administration Level 5. Financial literacy leads: personal finance, budgeting, saving, debt, investment and insurance. Learners then distinguish entrepreneurs from business persons and compare salaried employment with self-employment. Opportunity work covers sources of business ideas, evaluating them and the business life cycle. Legal aspects cover forms of ownership, registration and licensing, contracts, employment and taxation laws, while innovation looks at creativity, linkages and ICT in business growth. The last outcome develops a business plan and presents it.

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Careers after Entrepreneurial Skills

Many administrators eventually run their own services, and this unit gives you the finance, legal and planning skills to start.

  • Secretarial and typing bureaus - You budget for equipment, register and license the business, consider insurance, and price services after costing them.
  • Printing and photocopying shops in Kakamega - You evaluate the opportunity, obtain the licences required, follow taxation laws, and consider the factors before taking a loan.
  • Virtual assistant and document services - You write a marketing plan, use ICT for growth, form linkages with clients, and plan how to save and invest the profits.
  • Stationery and office supplies retail - You choose a form of ownership, manage savings and debts, and plan your operations.
  • Salaried posts in small enterprises - You understand employment laws and the roles of an entrepreneur, which helps you support an owner.

A written business plan with an executive summary ties these options together.

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
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