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Entrepreneurial Skills

Baking Technology · Level 5  ·  6 Chapters

Compiled by: Elizabeth Ngugi

Can I download Entrepreneurial Skills notes as a PDF?

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What Entrepreneurial Skills covers

Money, enterprise and law meet in Entrepreneurial Skills, a Baking Technology Level 5 unit that ends in a written business plan. It starts with financial literacy: personal finance, needs and wants, budgets, saving, debt, loans, investments and insurance. It moves to the entrepreneurial concept, comparing entrepreneurs and business persons and salaried employment with self-employment, then to sources of business ideas, evaluating an opportunity and the business life cycle. Business legal aspects cover forms of ownership, registration and licensing, contracts, employment laws and taxation. Innovation, linkages and ICT in business follow, before the plan itself.

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Careers after Entrepreneurial Skills

Entrepreneurial Skills prepares you to start and run a bakery business, from managing your own money to presenting a business plan.

  • Own bakery or cake shop in Narok - you identify a business idea, check whether the opportunity is viable and choose a form of ownership.
  • Small production units in Homa Bay - you budget, manage savings and debt and consider insurance for insurable risks.
  • Bakery businesses growing in Bungoma - you use innovative business strategies, build entrepreneurial linkages and apply ICT to reach customers.
  • Registered bakery businesses in Kitui - you follow the registration and licensing process, contracts and tax obligations that a legal bakery needs.
  • Pitching for support in Isiolo - you write a business plan with a marketing plan, financial plan and executive summary and present the business plan.

Each path draws on the same foundation of financial skills, legal awareness and planning.

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