Entrepreneurship and Communication notes

Entrepreneurship and Communication Revised and Updated notes

GENERAL OBJECTIVE

This paper intends to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply entrepreneurship knowledge in business and other environments.

3.0     LEARNING OUTCOMES

A candidate who passes this paper should be able to:

  • Identify viable business opportunities
  • Prepare a business plan
  • Demonstrate entrepreneurial orientation skills
  • Communicate effectively in a business environment
  • Apply entrepreneurial knowledge in response to the emerging business trends.

CONTENT

3.1     Entrepreneurial mindset

  • Definition of entrepreneurship
  • Historical development of entrepreneurship
  • Characteristics of entrepreneurs
  • Types of entrepreneurs
  • Distinction between entrepreneurs and small business owners
  • Approaches to entrepreneurship
  • Importance of entrepreneurs to development

3.2     Entrepreneurship and innovation

  • Creativity and innovation
  • Corporate entrepreneurship and innovation
  • Qualities of entrepreneurial firms
  • Social enterprises and sustainability
  • Entrepreneurial ethics, responsibility and leadership
  • Case study on corporate entrepreneurship

3.3     Opportunity identification and development

  • Methods of generating ideas
  • Sources of innovative ideas
  • Qualities of viable business opportunities
  • Evaluating business opportunities
  • Challenges of starting new ventures
  • Why new ventures fail
  • Business incubation
  • Role of government in promoting entrepreneurship

3.4     Creating and starting a new venture

  • Approaches to creating new ventures
  • Acquiring an established business venture
  • Business planning
  • Overview of the business plan
  • Scope and value of a business plan
  • Practical experience in writing of a business plan

3.5     Business growth strategies

  • Penetration, market and product development strategy
  • Public and private placements
  • Joint ventures
  • Diversification
  • Loans and equity financing
  • Venture capitalists
  • Informal risk capitalists
  • Crowd funding and crowding sourcing

3.6     Entrepreneurship and technology

  • Internet and e-commerce
  • The enterprise website
  • Impact of globalisation
  • Global entrepreneurs
  • Business process outsourcing
  • Electronic and mobile money transfers
  • Business networking

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3.7     Nature of business communication

  • Meaning of communication
  • Purposes of business communication
  • Internal and external communication
  • The communication process
  • Methods of communication
  • Communication systems and networks
  • Principles of effective communication
  • Barriers to effective communication

3.8     Written communication

  • Rules of effective writing
  • Business correspondence
  • Reports
  • Memorandum
  • Proposal writing
  • Forms and questionnaire design
  • Circulars and newsletters
  • Notices and advertisements
  • Publicity materials
  • Press releases
  • Graphic communication

3.9     Oral and non-verbal communication

  • Oral communication in business
  • Effective listening
  • Interviews
  • Non-verbal communication
  • Interpersonal relationships
  • Presentations skills

3.10    Meetings

  • Notice
  • Agenda
  • Role of the chairperson
  • Role of the secretary
  • Role of participants
  • Conduct of meetings
  • Minutes of meetings

3.11    Information technology and communication

  • The internet
  • Teleconferencing
  • Wireless technologies
  • Electronic postal services
  • Use of E-mails

3.12    Ethics and integrity in business communication

  • Concept of ethics and integrity
  • Significance of ethical communication
  • Factors influencing ethical communication
  • Ethical dilemmas in communication
  • Guidelines to handle communication ethics dilemmas
  • Business ethics in communication

3.13    Emerging issues and trends

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