Departments › Food Technology › Module IV › Entrepreneurial Skills

Entrepreneurial Skills

Food Technology · Level 6  ·  6 Chapters

Compiled by: Rose Mutahi

Can I download Entrepreneurial Skills notes as a PDF?

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What Entrepreneurial Skills covers

Entrepreneurial Skills in Food Technology Level 6 starts with money: budgeting, saving, debt, investment and insurance. It then separates entrepreneurs from business persons, covers types and characteristics of entrepreneurs and compares salaried employment with self-employment. Learners find business ideas, evaluate an opportunity and read the business life cycle, then handle the legal side: forms of ownership, registration and licensing, contracts, employment and taxation laws. Innovation looks at creativity, entrepreneurial linkages and ICT in business growth. The final outcome puts it together in a business plan covering description, marketing, management, operations, finance and an executive summary, followed by presentation and incubation of the idea.

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Careers after Entrepreneurial Skills

Self-employment is a real route for food technology graduates, and this unit gives you the money, legal and planning tools to take it, as well as to work well inside an enterprise.

  • Small-scale food processors in Mumias - you judge whether an opportunity is viable, choose a form of ownership, register and license the business and plan its finances.
  • Business incubation hubs in Siaya - you present a business plan and develop your idea in an incubation setting.
  • Employees in small and medium food enterprises in Isiolo - budgeting, saving and tax awareness make you useful to an owner, and ICT in business growth adds value.
  • Contract suppliers of processed foods to institutions in Kapenguria - you understand contracts and agreements and the employment laws that apply when you hire helpers.
  • Food product innovators in Garissa - creativity and innovative strategies, together with entrepreneurial linkages, help you turn a new product into a business.

Whether you start a business or join one, the plan you write in this unit 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
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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 IV