Principles of Entrepreneurship and Management – KASNEB Syllabus

PAPER NO.1: PRINCIPLES OF ENTREPRENEURSHIP AND MANAGEMENT

GENERAL OBJECTIVE

This paper is intended to equip the candidate with the requisite knowledge, skills and attitudes in entrepreneurship and management of small and medium size enterprises (SMEs) and other entities in the public and private sectors.

LEARNING OUTCOMES

A candidate who passes this paper should be able to:

  • Identify, select and implement new entrepreneurial opportunities
  • Apply basic management and governance concepts in practice
  • Identify and select the sources of finance for an entity
  • Implement fundamental credit management concepts in practice
  • Apply entrepreneurship and management knowledge in response to emerging trends.

CONTENT

Introduction

  • Definition of entrepreneurship
  • Characteristics of entrepreneurs
  • Importance of entrepreneurship
  • Challenges faced by entrepreneurs
  • Entrepreneur’s contribution to development

Role of innovation in entrepreneurship

  • Methods of generating business ideas
  • Role of creativity
  • The creative process
  • Approaches to creative problem solving
  • The innovation process
  • Types of innovation
  • Sources of innovation
  • Principles of innovation
  • Protection of business innovations and ideas

Assessing entrepreneurial opportunities

  • Overview of the role and purpose of market research
  • Problems encountered in selecting new ventures
  • Factors considered in setting up a new venture
  • Factors that determine success of new ventures
  • Risks facing SMEs

Creating a new venture

  • Forms of business ownership
  • Buying an existing business
  • Franchising
  • Sources of finance for a new venture
  • Simple business plans: purpose, format

Entrepreneurial growth and technology

  • Importance of business incubators
  • Life-cycle of an enterprise
  • The success and failure factors at every stage of growth
  • Use of internet, e-commerce and m-commerce
  • Electronic and mobile money transfers
  • Creating a competitive advantage
  • Goodwill
  • Role of technology

Sources of finance for SMEs

  • Internal and external sources of finance
  • Bootstrapping
  • Advantages and disadvantages of the sources of finance
  • Factors to consider when choosing a source of finance

Managing credit in SMEs

  • Types and purposes of credit
  • Credit limits
  • Credit control
  • Types of discounts
  • Bad debts and their control

Background on management

  • Definition and importance of management
  • Principles of management
  • Levels of management
  • Management skills
  • Functions and roles of managers
  • Qualities of an affective manager

Managing routine office operations

  • Handling incoming and outgoing mail and calls
  • Centralisation and decentralisation of office services
  • Filing and retrieval of information
  • Essentials of a good filing system
  • Automated filing systems

Managing people

  • Duties and qualities of a supervisor
  • Teamwork
  • Motivation
  • Conflict management
  • Health and safety issues

Introduction to governance

  • Principles of good governance
  • Importance of governance
  • Best practices in good governance

Emerging issues and trends



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