Departments › Human Resource Management › Module II › Entrepreneurial Skills

Entrepreneurial Skills

Human Resource Management · Level 6  ·  6 Chapters

Compiled by: Mary Jemutai

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What Entrepreneurial Skills covers

Money, law, ideas and planning come together in Entrepreneurial Skills, a unit of Human Resource Management Level 6. Funding sources, budgets, savings, loans, investments and insurance open the unit. Next are entrepreneurs versus business persons, ways into self-employment and what entrepreneurship contributes. Sources of business ideas and the evaluation of an opportunity lead into forms of ownership, registration, licensing, contracts, employment laws and taxation. Innovation follows, with creativity, strategies and ICT in business growth, and the business plan covers the marketing, organizational and financial plans, the executive summary and its presentation.

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Careers after Entrepreneurial Skills

This unit helps HR graduates turn a business idea into something fundable and legal. The roles below follow its sequence from finance to plan, ending with incubation of an idea.

  • Outsourced HR service start-ups in Nairobi - evaluate a business opportunity and prepare the financial plan and executive summary.
  • Labour relations consultancies in Nyeri - register and license the business, then work under contracts and agreements, follow employment laws and meet taxation duties.
  • Career coaching and CV services in Machakos - distinguish an entrepreneur from a business person and plan the marketing for a service business.
  • Online staff recruitment portals in Kisumu - use ICT in business growth, innovate strategies and form entrepreneurial linkages.
  • Incubator-supported HR ventures in Eldoret - present a business plan and develop an idea through incubation.

From the first budget to the final presentation, the unit lets you plan a business on paper before you commit money.

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