Departments › Building Technology › Module IV › Entrepreneurial Skills

Entrepreneurial Skills

Building Technology · Level 5  ·  6 Chapters

Compiled by: Elijah Kiprono

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What Entrepreneurial Skills covers

Money, enterprise ideas, legal requirements and a written plan: Entrepreneurial Skills in Building Technology Level 5 takes you from personal finances to a business plan. Financial literacy covers budgeting, saving, debt, investment decisions and insurance. The entrepreneurial concept distinguishes entrepreneurs from business persons and compares salaried employment with self-employment. Identifying opportunities covers sources of business ideas and the business life cycle. Business legal aspects cover forms of ownership, registration and licensing, contracts, employment laws and taxation. Innovation covers creativity and ICT in business, and the business plan outcome ends with marketing, production, financial plan, executive summary and presentation.

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Careers after Entrepreneurial Skills

This unit prepares you to start and run a building-related enterprise as well as to work for one.

  • Small building and fitting businesses in Bungoma - you choose a form of business ownership, register and license the enterprise, understand the contracts and employment laws it falls under and meet tax obligations.
  • Personal budgets and savings in Naivasha - you balance needs and wants, prepare a budget, save, manage debt and make investment decisions that can fund tools and stock for your own work.
  • Hardware and supply start-ups in Garissa - you find a business idea, evaluate the opportunity against the business life cycle and write a business plan with marketing, operations and financial plans.
  • Established firms in Nairobi - you bring creativity, innovative business strategies, ICT use and entrepreneurial linkages to the firm as an employee.

The outcomes cover finance, the entrepreneurial concept, opportunities, legal aspects, innovation and business planning.

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