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Entrepreneurial Skills

Architecture · Level 6  ·  6 Chapters

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What Entrepreneurial Skills covers

Money, enterprise ideas, the law and a written plan are the subjects of Entrepreneurial Skills for Architecture Level 6. Financial literacy covers personal finance, needs and wants, budgets, saving, debt, loans, investment decisions and insurance. The entrepreneurial concept separates entrepreneurs from business persons, covers types and characteristics of entrepreneurs, compares salaried employment with self-employment and sets out what entry into self-employment requires. Opportunity work looks at sources of business ideas, how to evaluate an opportunity and the business life cycle. Business legal aspects deal with forms of ownership, registration and licensing, contracts and agreements, employment laws and taxation laws. The last two outcomes cover creativity, innovative strategies, entrepreneurial linkages and ICT in business growth, and the writing of a business plan from description to presentation and incubation.

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Careers after Entrepreneurial Skills

An architecture graduate may start a business as readily as join one, and this unit gives you the planning, legal and money skills behind both routes. It covers financial literacy, entrepreneurial opportunities, business law, innovation and the business plan.

  • Start-up drafting and design studios in Machakos - you compare self-employment with salaried work, choose a form of business ownership, register and license the studio and write its business plan.
  • Property development ventures in Nyeri - you evaluate business opportunities and their life cycle, prepare budgets and the financial plan, and weigh the factors before taking a loan or investing.
  • Construction firms in Kakamega - you work with contracts and agreements, employment laws and taxation laws, and use ICT in business growth to support the firm's processes.
  • Home renovation ventures in Nakuru - you apply your marketing plan, organizational plan and entrepreneurial linkages with suppliers and clients, and plan for insurance against insurable risks.
  • Business incubation programmes in Kisii - you present a business plan for a new idea, take it through incubation and test the innovative strategies it relies on.

Whichever route you take, the unit gives you a way to size up an idea before committing to it.

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