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Entrepreneurial Skills

Digital Journalism · Level 6  ·  6 Chapters

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What Entrepreneurial Skills covers

Start with personal finance and finish with a business plan: Entrepreneurial Skills, taught in Digital Journalism Level 6, moves through six outcomes. Financial literacy covers budgeting, saving, debt, loans, investments and insurance. The entrepreneurial concept separates entrepreneurs from business persons and salaried employment from self-employment. Opportunities come from sources of business ideas, evaluation and the business life cycle. Legal aspects cover forms of ownership, registration and licensing, contracts, employment laws and taxation. Innovation includes creativity, linkages and ICT in business growth, and the plan itself runs from description and marketing to finance and presentation.

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Careers after Entrepreneurial Skills

Entrepreneurial Skills suits graduates who plan to sell their journalism and media skills as a business, and those who first take salaried posts and manage their money well.

  • Freelance journalism in Nairobi - register the business, keep a budget, handle taxes and contracts with clients and decide whether to save or invest earnings.
  • Small digital media start-ups in Nakuru - write a business plan covering marketing, operations and finances, then present it for funding or incubation.
  • Media production services in Eldoret - start a production business, choose a form of ownership and take on the roles of an owner-manager.
  • Small media support businesses in Machakos - spot business ideas, judge whether an opportunity is viable and follow its life cycle from start-up to growth.
  • Salaried posts in media houses in Kisumu - apply financial literacy to savings, loans and insurance, and understand employment laws.

The legal and financial outcomes apply whether a graduate is employed or self-employed.

Chapters

1
Apply financial literacy
13 topics
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2
Apply 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 Business Plan
8 topics
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What Entrepreneurial Skills covers: 41 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 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 Business Plan

  1. 6.1 Business description
  2. 6.2 Marketing plan
  3. 6.3 Organisational/management plan
  4. 6.4 Production/operation plan
  5. 6.5 Financial plan
  6. 6.6 Executive summary
  7. 6.7 Business plan presentation
  8. 6.8 Business idea incubation

Revise this unit

Exam-style questions 84 Written to CDACC standard, with answers Test yourself 242 Multiple-choice, one at a time Practise questions 185 Quick recall — check you know the facts
3 more for this unit
Oral exam preparation 59 What the assessor asks, and how to answer out loud Worked calculations 39 Step-by-step maths with the common mistakes Quick cards 1,207 Myth busters, skill tips and scenarios

Beyond the syllabus

Decision simulator 6 On site, what would you do? Workplace scenarios 124 Real site situations — what would you do? Turn this into income 48 Where this skill earns — what to charge, how to find clients

Other units in Module IV