Departments › Tour and Travel Management › Module III › Entrepreneurial Skills

Entrepreneurial Skills

Tour and Travel Management · Level 6  ·  6 Chapters

Can I download Entrepreneurial Skills notes as a PDF?

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What Entrepreneurial Skills covers

Entrepreneurial Skills takes Tour and Travel Management Level 6 learners from personal money management to a written business plan. Financial literacy comes first: budgeting, saving, debt, investment and insurance. You then study the entrepreneurial concept, the characteristics and roles of entrepreneurs and the move from salaried employment to self-employment, before identifying and evaluating business opportunities and the business life cycle. Business legal aspects cover forms of ownership, registration and licensing, contracts, employment laws and taxation laws. The unit ends with innovation strategies, entrepreneurial linkages and ICT in business growth, and with developing and presenting a business plan.

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Careers after Entrepreneurial Skills

Tourism graduates who start their own business need registration, ownership, planning, financing, staffing and tax knowledge, which this unit sets out.

  • Own travel agency in Meru - get the business registered and licensed, decide how it will be owned and set out the marketing, management and financial plans in writing.
  • Day-trip and safari organising in Nanyuki - evaluate the business opportunity, work out the viability of a tour product and manage savings, loans and insurance for the enterprise.
  • Partnerships with local hotels and lodges in Voi - build entrepreneurial linkages with suppliers and use ICT to promote and grow the business.
  • Small tourism ventures in Malindi - follow the rules on employment and tax as you take on staff and keep records, and adjust strategy as the business moves through its life cycle.

Draft the financial section of a plan for one of the four ventures and bring it to your next lesson.

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 III