Departments › Food and Beverage Management › Module V › Entrepreneurial Skills

Entrepreneurial Skills

Food and Beverage Management · Level 6  ·  6 Chapters

Compiled by: Mary Jepchirchir

Can I download Entrepreneurial Skills notes as a PDF?

Yes. The notes download as a PDF too: every chapter has a Download PDF button above its notes. Sign in and click it. Each download comes from your plan's monthly allowance or from credits. To read before you sign in, the first topic of every chapter opens to anyone, and a Profplanet plan opens the remaining topics.

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What Entrepreneurial Skills covers

Starting a food or beverage business means handling money, rules and a plan, which is what Entrepreneurial Skills for Food and Beverage Management Level 6 teaches. Financial literacy covers budgeting, saving, debt, investment and insurance. The entrepreneurial concept separates entrepreneurs from business persons and weighs salaried work against self-employment, and opportunity work covers sources of ideas, evaluation and the business life cycle. Legal aspects include forms of ownership, registration and licensing, contracts, employment laws and taxation. Innovation covers creativity, linkages and ICT, and the business plan outcome covers description, marketing, management, operations, finance, executive summary, presentation and incubation.

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Careers after Entrepreneurial Skills

This unit prepares you to own a hospitality business or to be a valued member of one, with the money, legal and planning skills either path needs.

  • Owners of cafes and takeaway outlets in Nyeri - you test an opportunity, pick a form of ownership, register and license the outlet and plan its finances.
  • Event catering start-ups in Machakos - contracts and agreements, employment laws and tax rules shape how you price and staff each event.
  • Juice and smoothie bars in Embu - creativity and innovative strategies set your menu apart, and ICT helps you reach customers.
  • Employees of small hospitality enterprises in Kericho - budgeting, saving and an understanding of how a business grows make you useful to an owner.
  • Suppliers of prepared foods to institutions in Bungoma - a business plan and an executive summary help you present your idea to partners and lenders.

Whether you open a business or join one, the plan you write here is the document you work from.

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
Open chapter →
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 V