Entrepreneurship notes – KNEC Diploma


Topics covered in this unit are as follows:

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

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

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

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

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

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

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