Departments › Human Resource Management › Module II › Entrepreneurial Skills

Entrepreneurial Skills

Human Resource Management · Level 5  ·  6 Chapters

Compiled by: Joseph Okumu

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What Entrepreneurial Skills covers

Entrepreneurial Skills prepares Human Resource Management Level 5 students to start and run a business of their own. Financial literacy covers personal finance, budgets, saving, debt, loans, investments and insurance. The entrepreneurial concept covers types and characteristics of entrepreneurs and salaried employment against self-employment. Opportunities come from business ideas and are judged with the business life cycle. Business legal aspects cover forms of ownership, registration and licensing, contracts, employment laws and taxation laws. Innovation covers creativity, strategies, linkages and ICT in business growth, and the unit ends with a business plan from description to presentation and incubation.

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Careers after Entrepreneurial Skills

An HR graduate can build a business around hiring, training or staff administration. This unit covers how to fund it, register it and plan it.

  • Recruitment and placement businesses in Meru - choose a form of ownership, register and license the business and agree contracts with client employers.
  • Staff training and coaching enterprises in Kisii - spot an opportunity, test it against the business life cycle and write the marketing plan.
  • HR advisory practices for small firms in Thika - apply employment laws and taxation laws, set budgets and manage debt and insurance.
  • Wellness service providers for employers in Mombasa - look for innovative strategies and form entrepreneurial linkages with employers.
  • Salaried HR officer posts in Kakamega - compare salaried employment with self-employment and manage your own savings and loans.

Each route rests on the same six outcomes, from personal finance to a presented business plan.

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 II