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Entrepreneurial Skills

Information Communication Technology · Level 5  ·  6 Chapters

Compiled by: Caroline Akoth

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What Entrepreneurial Skills covers

Entrepreneurial Skills gives Information Communication Technology Level 5 students the money, legal and planning knowledge to start and run a business. Financial literacy covers personal finance, needs and wants, budgets, saving, debt, loans, investments and insurance. The entrepreneurial concept covers types and characteristics of entrepreneurs and the difference between salaried employment and self-employment. Opportunities are found from business ideas and judged using the business life cycle. Legal aspects cover forms of ownership, registration and licensing, contracts and agreements, employment laws and taxation laws. Innovation covers creativity, strategies, linkages and ICT in business growth, and the business plan runs from description to presentation and incubation.

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Careers after Entrepreneurial Skills

ICT skills can be sold as a business as well as a salary, and this unit covers how to fund, register, plan and grow one.

  • Phone and laptop servicing shops in Embu - fund the shop from savings or a loan, manage debt and insure against insurable risks.
  • Web and app development start-ups in Nairobi - turn business ideas into a business plan, choose a form of ownership, and register and license the business.
  • Networking and cabling contractors in Naivasha - agree contracts, then apply employment laws to casual crews and taxation laws to invoices.
  • ICT training and tutoring businesses in Kitale - compare salaried employment with self-employment and test the opportunity against the business life cycle.
  • Small enterprises using ICT to grow in Meru - build entrepreneurial linkages and present a business plan ready for incubation.

A written, costed business plan is the one thing every route above has in common.

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