Life Skills Development/Unit Four/Entrepreneurship

Introduction

In this age of globalism and capitalism, people of many countries are facing unemployment in the formal sectors of the economy. Some have entered the informal sector and started their own business. Some of these micro businesses have become larger businesses with time and effort. If you are thinking of perhaps maximising your assets and your talents as an entrepreneurship, you will enjoy this module, whether you are thinking about a product-oriented or a service-oriented business.You will find out if you have the qualities of an entrepreneur and the will, about business management skills and the basics of starting a business.

Objectives

At the end of this topic, you should be able to: use appropriate terms that are related to business management differentiate between business types suggest reasons for setting up businesses - product oriented or service oriented identify business ideas compare the potential of different business ideas describe factors that influence the starting of a business, and relate them to your situation Develop an idea for a successful and original business plan that could be used in starting a small firm.

Reflection

Do I have the potential to be a good entrepreneur? What would be like to have my own busines and work for no one? The answer to these questions lie deep within you. Therefore, you are the only one that can answer them and there is no wrong or right answer to these and other similar questions.

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Unit 1: Starting up a Business

Introduction

Objectives

What is Business Managment?

What is meant by Entrepreneurship?

Who is an Entrepreneur?

What is an Enterprise?

What are the different business types?

How is a business idea developed?

What Factors Influence the Business?

Cultural Factors

Economic Factors

Political Factors

Environmental Factors

The importance of a business in a country

Summary

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