Departments › Catering and Accommodation Management › Module VI › Entrepreneurial Skills

Entrepreneurial Skills

Catering and Accommodation Management · Level 6  ·  6 Chapters

Compiled by: Grace Muriuki

Can I download Entrepreneurial Skills notes as a PDF?

Yes. The notes download as a PDF too: every chapter has a Download PDF button above its notes. Sign in and click it. Each download comes from your plan's monthly allowance or from credits. To read before you sign in, the first topic of every chapter opens to anyone, and a Profplanet plan opens the remaining topics.

▣

What Entrepreneurial Skills covers

Entrepreneurial Skills moves Catering and Accommodation Management Level 6 learners from personal finance to a written business plan. Financial literacy covers budgeting, saving, debt, investment decisions and insurance. You then distinguish entrepreneurs from business persons, study their types and characteristics, and compare salaried employment with self-employment. Opportunity topics cover sources of business ideas, evaluating an opportunity and the business life cycle. Legal aspects cover forms of business ownership, registration and licensing, contracts, employment laws and taxation. You also study creativity, innovative strategies, entrepreneurial linkages and ICT in business growth. The business plan outcome covers the business description, marketing, organisation, operation and financial plans, the executive summary, presentation and incubation.

■

Careers after Entrepreneurial Skills

This unit prepares you to start a hospitality business of your own or to join one as a salaried member of staff, because it covers both routes.

  • Small restaurant and eatery owners in Kisii - you plan your start-up money, register and license the business, pay the taxes that apply and write a business plan.
  • Guest house and lodging operators in Narok - you choose a form of business ownership, draw up contracts and follow employment laws when you hire staff.
  • Outside catering start-ups in Voi - you find business ideas, test whether an opportunity is viable and use ICT to reach new customers.
  • Salaried assistant managers in hotels in Garissa - you apply financial literacy, budgeting and the roles of an entrepreneur inside someone else's enterprise.
  • Business incubation programmes in Nanyuki - you present your business plan and develop your idea with the support of others.

You leave with the legal, financial and planning steps needed to begin, whichever route you take.

Chapters

1
Apply financial literacy
13 topics
Open chapter →
2
Apply the entrepreneurial concept
8 topics
Open chapter →
3
Identify entrepreneurship opportunities
3 topics
Open chapter →
4
Apply business legal aspects
5 topics
Open chapter →
5
Innovate business strategies
4 topics
Open chapter →
6
Develop a business plan
9 topics
Open chapter →
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 VI