Solomon Kiplimo
DEMONSTRATE ENTREPRENEURSHIP SKILLS LEVEL 6
DEMONSTRATE ENTREPRENEURSHIP SKILLS LECTURE NOTES
Topic Sub – Topic
1)Introduction
· Meaning of terms
to
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 entrepreneurship 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
entrepreneurial culture
Topic Sub – Topic
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
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
· Regulations affecting business
· Business support services available for a small business
Page 2 of 165
,10) Business
· Definition of terms
enterprise
Management · Functions of management in an enterprise
· Inventory management
· Managing enterprise resources
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
Topic Sub – Topic
Importance of budgeting to a business
12) Marketing
· Definition of terms
· Components of marketing
· Process of marketing
13) Enterprise
Social · Definition of terms
Responsibility · Enterprise social responsibility
and Business · Types of enterprise social responsibility
Ethics
· Importance of enterprise social responsibility
· Ethical behavior in an enterprise
14)Introduction to
· Definition of business plan
business Plan
· Components of a business plan
· Uses of a business plan
· Preparation of a business plan
Page 3 of 165
, 15) ICT in
· Definition of terms
enterprise
Management · Benefits of ICT
· Uses of ICT Equipment
16) Emerging
· Emerging issues and trends
trends and issues
in · Challenges posed by emerging issues and trends
entrepreneurship · Ways of managing challenges posed by emerging issues and
trends.
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 business 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.
Page 4 of 165
DEMONSTRATE ENTREPRENEURSHIP SKILLS LEVEL 6
DEMONSTRATE ENTREPRENEURSHIP SKILLS LECTURE NOTES
Topic Sub – Topic
1)Introduction
· Meaning of terms
to
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 entrepreneurship 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
entrepreneurial culture
Topic Sub – Topic
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
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
· Regulations affecting business
· Business support services available for a small business
Page 2 of 165
,10) Business
· Definition of terms
enterprise
Management · Functions of management in an enterprise
· Inventory management
· Managing enterprise resources
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
Topic Sub – Topic
Importance of budgeting to a business
12) Marketing
· Definition of terms
· Components of marketing
· Process of marketing
13) Enterprise
Social · Definition of terms
Responsibility · Enterprise social responsibility
and Business · Types of enterprise social responsibility
Ethics
· Importance of enterprise social responsibility
· Ethical behavior in an enterprise
14)Introduction to
· Definition of business plan
business Plan
· Components of a business plan
· Uses of a business plan
· Preparation of a business plan
Page 3 of 165
, 15) ICT in
· Definition of terms
enterprise
Management · Benefits of ICT
· Uses of ICT Equipment
16) Emerging
· Emerging issues and trends
trends and issues
in · Challenges posed by emerging issues and trends
entrepreneurship · Ways of managing challenges posed by emerging issues and
trends.
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 business 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.
Page 4 of 165
