Entrepreneurship notes – KNEC Diploma

Introduction

This module unit is intended to equip the trainee with necessary knowledge; skills and attitudes that will enable him/her start, operate and manage a personal or group business enterprise effectively.  It is also intended to instil in a trainee the drive necessary to venture into profit making activities.

Entrepreneurship

• KNEC: Diploma in Business Management – Module I

• KNEC: Diploma in Human Resource Management – Module I

• KNEC: Diploma in Supply Chain Management – Module I

Topics covered in this unit are as follows:

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Topic 1: Introduction to entrepreneurship
Topic 2: Evolution of entrepreneurship
Topic 3: The entrepreneur
Topic 4: Creativity and innovation
Topic 5: Entrepreneurial culture
Topic 6: Entrepreneurial opportunities
Topic 7: Entrepreneurial motivation
Topic 8: Entrepreneurial competences
Topic 9: Starting a small business
Topic 10: Business entrepreneurial management
Topic 11: Financial management
Topic 12: Marketing
Topic 13: Enterprise social responsibility
Topic 14: Business plan
Topic 15: Information communication technology
Topic 16: Emerging issues and trends in entrepreneurship

Introduction
This module unit is intended to equip the trainee with knowledge, skills, values and attitudes that will enable him/her plan, start and manage a personal, group, private or public business enterprise. It is also intended to instil in a trainee the drive to venture into profit making business activities.

General Objectives
At the end of this module unit, the trainee should be able to:

1. Acquire entrepreneurial competences necessary for planning, starting and managing a business
2. Demonstrate positive attitude towards self-employment
3. Portray desire to venture into business
4. Identify viable business opportunities
5. Demonstrate entrepreneurial behaviour in planning, starting, and managing a business enterprise
6. Demonstrate creativity and innovation in their day to day business activities
7. Prepare a business plan
8. Cope the emerging trends and issues in entrepreneurship

Topic 1: Introduction to Entrepreneurship

• Meaning of terms
• Difference between self employment and salaried employment
• Contribution of entrepreneurship to national development

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Topic 2: Evolution of Entrepreneurship

• History of entrepreneurship
• Myths associated with entrepreneurship in Kenya
• Theories of entrepreneurship

Topic 3: The Entrepreneur

• Types of entrepreneurs
• Qualities of an entrepreneur
• Roles of an entrepreneur in an enterprise

Topic 4: Creativity and Innovation

• Meaning of creativity and innovation
• Process of creativity and innovation
• Importance of creativity and innovation
• Barriers to creativity and innovation
• Managing barriers to creativity and innovation

Topic 5: Entrepreneurial Culture

• Concept of entrepreneurial culture
• Habits that promote entrepreneurial development
• Factors inhibiting entrepreneurial development
• Ways of managing factors that inhibit development of entrepreneurial culture

Topic 6: Entrepreneurial Opportunities

• Meaning of entrepreneurial opportunities
• Ways of generating business ideas

Topic 7: Entrepreneurial Motivation

• Definition entrepreneurial motivation
• Entrepreneurial motivation factors

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Topic 8: Entrepreneurial Competence

• Definition entrepreneurial competences
• Key entrepreneurial competences

Topic 9: Starting a Small Business

• Procedure of starting a small enterprise
• Factors to consider when starting a small enterprise
• Legal forms of business ownership
• Challenges faced when starting a small enterprise
• Business life cycle
• Business support services available for a small business

Topic 10: Business Enterprise Management

• Definition of terms
• Functions of management in an enterprise
• Inventory management
• Managing of enterprise resources

Topic 11: Financial Management

• Meaning of financial management
• Importance of financial management
• Sources of business finance
• Types of business records
• Recording business transactions in the books of accounts
• Preparation of financial statement
• Interpretation of financial statements
• Importance of budgeting to a business

Topic 12: Marketing

• Definition of marketing
• Components of marketing
• Process of marketing

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Topic 13: Enterprise Social Responsibility and Business Ethics

• Definition of social responsibility and business ethics
• Enterprise social responsibility
• Types of enterprise social responsibility
• Importance of enterprise social responsibility
• Ethical behaviour in an enterprise

Topic 14: Business Plan

• Definition of business plan
• Components of a business plan
• Uses of a business plan
• Preparation of a business plan

Topic 15: Information Communication Technology in Enterprise Management

• Definition of terms
• Benefits of ICT
• Uses of ICT equipment

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Topic 16: Emerging Issues and Trends in Entrepreneurship

• Emerging issues and trends
• Challenges posed by emerging issues and trends
• Ways of managing challenges posed by emerging issues and trends