ENTREPRENEURSHIP EDUCATION LECTURE NOTES
Topic Sub – Topic
1) Introduction to Meaning of terms
Entrepreneurship
Difference between self-employment and salaried
employment
Contribution of entrepreneurship to national development
Requirement for entry into Self Employment
2) Evolution of History of Entrepreneurship
Entrepreneurship
Myths associated with entrepreneurship in Kenya
Theories of entrepreneurship
Importance of theories
Factors affecting entrepreneurship development
3) The Types of Entrepreneurs
Entrepreneur
Qualities of an entrepreneur
Roles of an entrepreneur in an enterprise
4) Creativity and Meaning of creativity and innovation
Innovation
Process of creativity and innovation
Importance of creativity and innovation
Barriers to creativity and innovation
Managing creativity and innovation
5) Entrepreneurial Concept of entrepreneurial culture
Culture
Habits that promote entrepreneurial development
Factors inhibiting entrepreneurial development
Ways of managing factors that inhibit development of
, Topic Sub – Topic
entrepreneurial culture
6) Entrepreneurial Meaning of entrepreneurial opportunities
Opportunities
Ways of generating business ideas
Evaluation of business opportunities
7) Entrepreneurial Definition of entrepreneurial motivation
Motivation
Entrepreneurial motivation factors
8) Entrepreneurial Definition of entrepreneurial competence
competence
Key entrepreneurial competence
9) Starting a small Procedure of starting a small enterprise
business
Factors to consider when starting a small enterprise
Legal forms of business ownership
Challenges faced when starting a small enterprise
Business life cycle
Regulations affecting business
Business support services available for a small business
10) Business Definition of terms
enterprise
Functions of management in an enterprise
Management
Inventory management
Managing enterprise resources
11) Financial Meaning of financial Management
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
PREPARED BY MR. ANTONY AMBIA Page 2
, Topic Sub – Topic
Interpretation of financial statements
Importance of budgeting to a business
12) Marketing Definition of terms
Components of marketing
Process of marketing
13) Enterprise Definition of terms
Social
Enterprise social responsibility
Responsibility
and Business Types of enterprise social responsibility
Ethics Importance of enterprise social responsibility
Ethical behavior in an enterprise
14) Introduction Definition of business plan
to business Plan
Components of a business plan
Uses of a business plan
Preparation of a business plan
15) ICT in Definition of terms
enterprise
Benefits of ICT
Management
Uses of ICT Equipment
16) Emerging Emerging issues and trends
trends and issues
Challenges posed by emerging issues and trends
in
entrepreneurship Ways of managing challenges posed by emerging issues and
trends.
PREPARED BY MR. ANTONY AMBIA Page 3
, INTRODUCTION TO ENTREPRENEURSHIP
Definition of Terms
Definition of an entrepreneur
An entrepreneur is a person who identifies a business opportunity, harnesses and obtains
the resources necessary to initiate a successful basis activity.
The entrepreneur implements the idea
Undertakes to operate the business
An entrepreneur is therefore a central key individual in the society who makes things
happens for economic development.
Entrepreneurship meaning
In the broader sense entrepreneurship refers to the means of stimulating innovative and
creative undertakings for a better business community or world.
The act or process of identifying business opportunities and gathering the necessary
resources to initiate a successful business activity.
Entrepreneurship is a French word meaning to undertake and focuses on a business
enterprise
Entrepreneurship can exist in any situation – therefore it is the creation of values through
establishing a business enterprise.
Entrepreneurship means having an idea of one’s own and trying to implement the idea to
create values on it.
Entrepreneurship is a term which encompasses what entrepreneurs do i.e
Identifying a business opportunity of a particular demand
Look at the opportunity as a process of creating, something that did not exist.
Constantly searching/ harnessing ones environment and resources to implement
the activities.
Creating a totally new product and using it in as new.
Entrepreneurship there is the practice of starting a new business or revitalizing existing
businesses in response to identifying opportunities.
Self-Employment
Working independently and earning a living from it.
This is a concept that arises when the entrepreneur relies on revenues from his business as
a source of income
What is Unemployment? Advantages and disadvantages of Self Employment?
What is Salaried Employment? Advantages and Disadvantages of Salaried employment?
PREPARED BY MR. ANTONY AMBIA Page 4
Topic Sub – Topic
1) Introduction to Meaning of terms
Entrepreneurship
Difference between self-employment and salaried
employment
Contribution of entrepreneurship to national development
Requirement for entry into Self Employment
2) Evolution of History of Entrepreneurship
Entrepreneurship
Myths associated with entrepreneurship in Kenya
Theories of entrepreneurship
Importance of theories
Factors affecting entrepreneurship development
3) The Types of Entrepreneurs
Entrepreneur
Qualities of an entrepreneur
Roles of an entrepreneur in an enterprise
4) Creativity and Meaning of creativity and innovation
Innovation
Process of creativity and innovation
Importance of creativity and innovation
Barriers to creativity and innovation
Managing creativity and innovation
5) Entrepreneurial Concept of entrepreneurial culture
Culture
Habits that promote entrepreneurial development
Factors inhibiting entrepreneurial development
Ways of managing factors that inhibit development of
, Topic Sub – Topic
entrepreneurial culture
6) Entrepreneurial Meaning of entrepreneurial opportunities
Opportunities
Ways of generating business ideas
Evaluation of business opportunities
7) Entrepreneurial Definition of entrepreneurial motivation
Motivation
Entrepreneurial motivation factors
8) Entrepreneurial Definition of entrepreneurial competence
competence
Key entrepreneurial competence
9) Starting a small Procedure of starting a small enterprise
business
Factors to consider when starting a small enterprise
Legal forms of business ownership
Challenges faced when starting a small enterprise
Business life cycle
Regulations affecting business
Business support services available for a small business
10) Business Definition of terms
enterprise
Functions of management in an enterprise
Management
Inventory management
Managing enterprise resources
11) Financial Meaning of financial Management
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
PREPARED BY MR. ANTONY AMBIA Page 2
, Topic Sub – Topic
Interpretation of financial statements
Importance of budgeting to a business
12) Marketing Definition of terms
Components of marketing
Process of marketing
13) Enterprise Definition of terms
Social
Enterprise social responsibility
Responsibility
and Business Types of enterprise social responsibility
Ethics Importance of enterprise social responsibility
Ethical behavior in an enterprise
14) Introduction Definition of business plan
to business Plan
Components of a business plan
Uses of a business plan
Preparation of a business plan
15) ICT in Definition of terms
enterprise
Benefits of ICT
Management
Uses of ICT Equipment
16) Emerging Emerging issues and trends
trends and issues
Challenges posed by emerging issues and trends
in
entrepreneurship Ways of managing challenges posed by emerging issues and
trends.
PREPARED BY MR. ANTONY AMBIA Page 3
, INTRODUCTION TO ENTREPRENEURSHIP
Definition of Terms
Definition of an entrepreneur
An entrepreneur is a person who identifies a business opportunity, harnesses and obtains
the resources necessary to initiate a successful basis activity.
The entrepreneur implements the idea
Undertakes to operate the business
An entrepreneur is therefore a central key individual in the society who makes things
happens for economic development.
Entrepreneurship meaning
In the broader sense entrepreneurship refers to the means of stimulating innovative and
creative undertakings for a better business community or world.
The act or process of identifying business opportunities and gathering the necessary
resources to initiate a successful business activity.
Entrepreneurship is a French word meaning to undertake and focuses on a business
enterprise
Entrepreneurship can exist in any situation – therefore it is the creation of values through
establishing a business enterprise.
Entrepreneurship means having an idea of one’s own and trying to implement the idea to
create values on it.
Entrepreneurship is a term which encompasses what entrepreneurs do i.e
Identifying a business opportunity of a particular demand
Look at the opportunity as a process of creating, something that did not exist.
Constantly searching/ harnessing ones environment and resources to implement
the activities.
Creating a totally new product and using it in as new.
Entrepreneurship there is the practice of starting a new business or revitalizing existing
businesses in response to identifying opportunities.
Self-Employment
Working independently and earning a living from it.
This is a concept that arises when the entrepreneur relies on revenues from his business as
a source of income
What is Unemployment? Advantages and disadvantages of Self Employment?
What is Salaried Employment? Advantages and Disadvantages of Salaried employment?
PREPARED BY MR. ANTONY AMBIA Page 4
