Departments › Cooperative Management › Module II › Entrepreneurial Skills

Entrepreneurial Skills

Cooperative Management · Level 6  ·  6 Chapters

Compiled by: Mary Ngugi

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What Entrepreneurial Skills covers

How to spot, test and legalise a business idea is the thread through Entrepreneurial Skills at Level 6 in Cooperative Management. Personal finance management, balancing needs and wants, budgets, savings, loans, investments and insurance products form the money outcome. Next, the types and characteristics of entrepreneurs are compared, with the requirements and contributions of entering self-employment. Sources of ideas, viability factors and the business life cycle make up opportunity work. Registration, licensing, contracts, employment laws and taxation form the legal outcome, creativity, linkages and ICT drive growth, and a full business plan from executive summary to presentation completes the unit.

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Careers after Entrepreneurial Skills

A cooperative graduate who can plan a business can start one, advise members or support a society's own ventures, and this unit supplies the planning tools. Its six outcomes run from money to the finished plan. The outcomes can be used for a first venture as well as for advising others.

  • Agribusiness ventures in Embu - you look for business ideas, evaluate opportunities and follow the business life cycle.
  • Cooperative-owned enterprises in Kakamega - you prepare marketing, organizational and operation plans for a new activity.
  • Member enterprise support desks in Nyeri - you explain registration and licensing, contracts, employment laws and taxation to members.
  • Small retail and service shops in Thika - you manage personal and business funds, savings and debts, and use ICT for growth.
  • Value-adding micro-enterprises in Nyahururu - you check the viability of an idea and plan its operation and finances.

Your executive summary and presentation are what you take to a lender or committee.

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 II