Departments › Applied Biology › Module VI › Entrepreneurial Skills

Entrepreneurial Skills

Applied Biology · Level 6  ·  6 Chapters

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What Entrepreneurial Skills covers

Before you start a business or manage your own money, Entrepreneurial Skills in Applied Biology Level 6 gives you the tools to do both. You first apply financial literacy: personal finance, budgets, saving, debt, investment and insurance. Then you separate entrepreneurs from business persons, compare salaried employment with self-employment and see what entrepreneurship contributes to national development. The unit goes on to sources of business ideas, evaluating an opportunity and the business life cycle, followed by forms of business ownership, registration and licensing, contracts, employment laws and taxation. Creativity, innovative strategies, entrepreneurial linkages and ICT in business growth come next. You finish by writing a business plan, presenting it and considering business idea incubation.

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Careers after Entrepreneurial Skills

This unit prepares you to turn a biology qualification into a small enterprise or to manage your own earnings well as an employee. It also helps you work with owners who must register, license and tax a laboratory-related business.

  • Own diagnostic or testing laboratory in Nakuru - you register the business, pick an ownership form, prepare a budget and plan, and earn from fees for tests.
  • Agrovet and laboratory supply shops in Eldoret - you assess a business idea, compare suppliers and manage stock, loans and insurance to earn from sales.
  • Salaried posts in hospital and research laboratories in Kisumu - you use budgeting, saving and investment skills to manage a monthly salary, and know your rights under employment laws.
  • Consultancy work for farmers and small processors in Nyeri - you present a business plan, draw up contracts and agreements and keep to taxation rules when you invoice clients.
  • Incubation and innovation hubs in Nairobi - you take a business idea through creativity, entrepreneurial linkages and ICT tools toward a working enterprise.

Each role rests on the same base: sound money habits, legal compliance and a written plan.

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 VI