Departments › Cooperative Management › Module II › Entrepreneurial Skills

Entrepreneurial Skills

Cooperative Management · Level 5  ·  6 Chapters

Compiled by: Susan Mburu

Can I download Entrepreneurial Skills notes as a PDF?

Yes. The notes download as a PDF too: every chapter has a Download PDF button above its notes. Sign in and click it. Each download comes from your plan's monthly allowance or from credits. To read before you sign in, the first topic of every chapter opens to anyone, and a Profplanet plan opens the remaining topics.

▣

What Entrepreneurial Skills covers

Entrepreneurial Skills in Cooperative Management Level 5 asks how a member or officer can start and grow a venture. Financial literacy covers personal finance, budgeting, saving, debt, investment decisions, insurance services and insurable risks. The entrepreneurial concept separates entrepreneurs from business persons and compares salaried employment with self-employment. Opportunities are found through sources of business ideas, evaluation factors and the business life cycle. Legal aspects include forms of ownership, registration and licensing, contracts, employment laws and taxation. Innovation, linkages and ICT lead to a business plan covering marketing, management, production and finance.

■

Careers after Entrepreneurial Skills

Cooperative members often run small enterprises beside their society work, and this unit prepares you to start one. It covers financial literacy, the entrepreneurial concept, opportunities, legal aspects, innovation and the business plan. It also suits learners who want to work for themselves after college.

  • Own produce aggregation business in Mombasa - you evaluate a business idea, register and license it and write a plan with a financial section.
  • Savings and credit society business advisory roles in Kisii - you guide members on budgeting, debt, investment and insurance services.
  • Cooperative enterprise start-ups in Narok - you choose a form of business ownership, handle contracts and tax obligations, and use creativity, entrepreneurial linkages and ICT to grow the enterprise.
  • Business incubation units of colleges in Eldoret - you present business plans and help ideas move from description to incubation.
  • Market stalls and shops run by society members in Kitengela - you budget, set savings goals and weigh the risks that insurance covers.

Draft your own business plan while you study, so you can use it to start a venture or show it to an employer.

Chapters

1
Apply financial literacy
13 topics
Open chapter →
2
Apply the entrepreneurial concept
8 topics
Open chapter →
3
Identify entrepreneurship opportunities
3 topics
Open chapter →
4
Apply business legal aspects
5 topics
Open chapter →
5
Innovate business strategies
4 topics
Open chapter →
6
Develop a business plan
9 topics
Open chapter →
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 II