Departments › Project Management › Module II › Entrepreneurial Skills

Entrepreneurial Skills

Project Management · Level 5  ·  6 Chapters

Compiled by: James Mwangi

Can I download Entrepreneurial Skills notes as a PDF?

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What Entrepreneurial Skills covers

Starting a project and starting a business share the same early questions, and Entrepreneurial Skills in Project Management Level 5 works through them. Financial literacy covers budgets, saving, debt, investment and insurance. The entrepreneurial concept looks at types and characteristics of entrepreneurs and at salaried employment versus self-employment. Trainees identify opportunities by sourcing business ideas and tracking the business life cycle. Business legal aspects include ownership forms, registration, contracts, employment and taxation laws. Innovation strategies and a full business plan finish the unit.

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Careers after Entrepreneurial Skills

This unit covers financial literacy, the entrepreneurial concept, business opportunities, legal aspects, innovation strategies and a business plan in project management.

  • Own consultancy offering project services in Nairobi - register and license the firm, decide who owns it and prepare a plan for the business.
  • Start-up enterprises supplying events and construction support in Nakuru - identify business opportunities, evaluate viability and follow the business life cycle.
  • Small contractors in Eldoret - read contracts and agreements, observe the rules on employment and tax, and manage personal and business finances.
  • Business incubation spaces in Kisii - present a business plan, test ideas and use entrepreneurial linkages.
  • Savings-based small enterprises in Machakos - apply financial literacy to saving, debt and investment decisions.
  • Project service freelancers in Kericho - use creativity and innovation to shape a service offer and present it to a buyer.

Draft the executive summary of a business plan for a project service you could offer.

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