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

Entrepreneurial Skills

Food and Beverage Operations · Level 5  ·  6 Chapters

Compiled by: Julius Mwangi

Can I download Entrepreneurial Skills notes as a PDF?

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What Entrepreneurial Skills covers

Starting a restaurant, cafe or catering business takes money, rules and a plan, the ground Entrepreneurial Skills covers for Food and Beverage Operations Level 5. Financial literacy deals with budgets, saving, debt, investments and insurance. The entrepreneurial concept compares entrepreneurs with business persons and salaried work with self-employment. Opportunity work covers business ideas, evaluating them and the business life cycle, while legal aspects cover ownership forms, registration and licensing, contracts, employment laws and taxation. Innovation looks at creativity, linkages and ICT in business growth, and the unit ends with writing and presenting a business plan and incubating the idea.

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Careers after Entrepreneurial Skills

This unit covers financial literacy, the entrepreneurial concept, business opportunities, legal aspects, innovation and writing a business plan for a food business.

  • Restaurant start-ups in Lamu - weigh a site idea, decide who will own the business and complete its registration and licensing.
  • Caterers with permanent staff in Kitengela - contracts, employment laws and taxation shape how you hire and pay people.
  • Entrepreneurs with a new menu concept in Karatina - turn a business idea into an offer through creativity and innovation, then reach buyers with ICT.
  • Hospitality employees preparing to open a place of their own in Lodwar - manage savings, debt and insurance on a wage while the plan takes shape.
  • Hotel and restaurant owners in Kapenguria - draft a business plan with marketing, management, production and financial parts and an executive summary, ready to present.

Write a one-page description of a food business you could start.

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 V