KASNEB CAMS-Principles of Entrepreneurship and Management

PRINCIPLES OF ENTREPRENEURSHIP AND MANAGEMENT

Table of Contents

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.

1.0 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

1.1 Introduction

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

1.2 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

1.3 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

1.4 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

1.5 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

1.6 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

1.7 Managing credit in SMEs

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

1.8 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

1.9 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

1.10 Managing people

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

1.11 Introduction to governance

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