Departments › Procurement Management › Module IV › Entrepreneurial Skills

Entrepreneurial Skills

Procurement Management · Level 6  ·  6 Chapters

Compiled by: Simon Ngugi

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What Entrepreneurial Skills covers

Procurement Management Level 6 trainees who want to supply goods or services themselves use Entrepreneurial Skills to plan the business. First, managing personal money: needs and wants, budgets, savings, loans and insurance. Then, what an entrepreneur does in an enterprise and what national development gains from entrepreneurship. Where to find business ideas, and how to judge whether one is viable, comes next. Business law follows, covering ownership, licences, contracts and taxes, before creativity, linkages and ICT in business growth. The unit finishes with writing and presenting a business plan.

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Careers after Entrepreneurial Skills

Procurement leads naturally to supplying, and this unit helps you decide whether to start a business and how.

  • Trading and supply businesses in Mombasa - start and run an enterprise, analyse your business life cycle and register and license it.
  • Contracting and tendering firms in Kisii - understand the roles of an entrepreneur in an enterprise and the types of contracts and agreements you will sign.
  • Procurement departments of growing companies in Kitale - apply creativity and innovative business strategies to improve how the company buys.
  • Online retail ventures in Thika - use ICT in business growth and development to reach customers.
  • Savings and investment groups in Kakamega - manage personal finance, savings, debt and investments, and choose insurance for insurable risks.

Planning, funding and legal knowledge together make the difference between an idea and a registered business, and the unit's financial literacy topics cover loans, savings and insurance.

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