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Entrepreneurship

Course code: EI - CV

Course Description / Overview


Assigned to

This programme is based on unit standards:

117499 – Demonstrate entrepreneurial competence

114592 – Produce business plans for a new venture
NQF level 4, 20 credits

Duration

4 Days

Specific Outcomes

  1. Prepare to start a new business venture
  2. Prepare input for a business plan and analyse it once completed
  3. Assess the viability of the intended market
  4. Implement stock management procedures
  5. Apply promotion and selling techniques
  6. Identify, gather and analyse the relevant information needed to compile a business plan
  7. Formulate an ethical framework for the operational plans of a new venture
  8. Establish and prioritise business, financial and/or operational goals and objectives for a new venture
  9. Design and present business, financial and/or marketing plans based on a budget for a new venture

Course Outline

1. Prepare to start a new business venture

1.1 Generating business ideas and investigating it further to determine its viability
1.2 Researching and assessing market potential for the selected business idea
1.3 Deciding upon a relevant form of ownership
1.4 Identifying legal requirements relating to the creating of a new business and achieving compliance

2. Prepare input for a business plan and analyse it

2.1 Determining the scope of a potential business
2.2 Deciding upon a business strategy
2.3 Compiling a marketing plan
2.4 Determining financial requirements for the potential business and arranging the required funding

3. Assessing the viability of the intended market

3.1 Researching competitors within the
3.2 Evaluating the target market in terms of size, buying power and interest in or demand for the planned range of products/services
3.3 Determining price, packaging and placement for the planned range of products/services
3.4 Positioning the potential business for optimal exposure and access to and by the target market

4. Implementing stock management procedures

4.1 Setting up and maintaining stock keeping records and processes
4.2 Monitoring stock levels
4.3 Handling stock correctly in compliance with the Occupational Health and Safety Act
4.4 Performing stock counts and evaluations

5. Apply promotion and selling techniques

5.1 Understanding The Sales Process
5.2 Learning How To Understand Your Prospects Needs
5.3 How To Overcome Objections and Excuses
5.4 How To Get To The Close and Ask For The Business 5
5.5 How To Make Effective Sales Presentations and Sales Calls
5.6 Business Development Over The Telephone

6. Identifying, gathering and analysing the relevant information needed to compile a business plan

6.1 The purpose and importance of a business plan
6.2 The different elements of a successful business plan
6.3 Compiling information on the resources needed and procedures to be followed
6.4 Identifying the industry specific and legal requirements for own venture

7. Formulating an ethical framework for the operational plans of a new venture
7.1 Legislation and relevant regulations relating to the type of venture
7.2 Non-statutory regulations applicable to the sector
7.3 Codes of conduct
7.4 Social and ethnic considerations
7.5 Personal values
7.6 An ethical framework and codes of ethics and conduct

8. Establishing and prioritising business, financial and/or operational goals and objectives for a new venture
8.1 Aligning personal objectives to the plans of own venture
8.2 Analysing business objectives and formulating specific goals to achieve objectives
8.3 Compiling a vision statement of a new venture
8.4 Formulating specific short and long term goals
8.5 Identifying possible contribution to community and regional growth
8.6 Incorporating cultural values and beliefs of prospective employees and expected consumers into the plans of own venture

9. Designing and presenting business, financial and/or marketing plans based on a budget for a new venture
9.1 Competitor analysis
9.2 Designing the structure and layout of the business plan
9.3 Presenting marketing and promotion of the own venture
9.4 Stating finance requirements for the business in the business plan
9.5 Tabulating projected income and expense items for own venture
9.6 Presenting the costs, risks and proposed infrastructure of the operations plan
9.7 Compiling relevant documentation to support the business plan
9.8 Presenting business plan information in relevant and clear format
9.9 Procedures to present the business plan for own venture to a financier

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