Apply basic skills to generate a business ideas:
- A business idea is generated using basic research skills.
- A business is generated using brainstorming skills.
- A business idea is generated using screening tools.
- A basic SWOT analysis is conducted o test viability of a generated business idea.
- A business idea is improved through review of the initial idea.
METHODS OF CONDUCTING MARKET RESEARCH
- Internet research
- Crowd Sourcing
- Focus Group
- Studying Your Competitors
- Testing the Market
- Talking to Retailers, Distributors and Suppliers
- Talking to Small Business Consultants or Advisors
- Referring to Industry Associations and Statistics
- Holding Personal and Telephone Interviews with Potential Customers
- Questionnaires
This unit standard specifies the outcomes required to apply basic entrepreneurship skills. it includes knowledge of characteristics of an entrepreneur, basic skills required to generate a business idea, basic market reserach skills, skills to determine costs and prices in a manufacturing business and application of creativity to develop a business identity. this unit standard is standard is intended for people requiring basic entrepreneurship skills required to run a small scale business
Terms entrepreneur and entrepreneurship are defined.
Characteristics and traits of an entrepreneur are described.
The concept 'social entrepreneurship' is described.
This unit standard specifies
the outcomes required to apply basic entrepreneurship skills. It includes basic
knowledge of characteristics of an entrepreneur, basic skills required to
generate a business idea, basic market research skills, skills to determine
costs and prices in a manufacturing business and application of creativity to
develop a business identity. This unit standard is intended for people
requiring basic entrepreneurship skills required to run a small scale business.
It includes basic knowledge of characteristics of an entrepreneur, basic skills required to generate a business idea, basic market research skills, skills to determine costs and prices in a manufacturing business and application of creativity to develop a business identity.
This course is intended for people requiring basic entrepreneurship skills required to run a small scale business.
Important costing and pricing vocabulary words may include but are not limited to break-even, price, costing, pricing, costs, direct labour, direct material costs, manufacturing, products, overhead costs, person hour, products (goods), profit (mark up), profit margin, revenue, trading and wastage.
Important costing and pricing vocabulary words may include but are not limited to break-even, price, costing, pricing, costs, direct labour, direct material costs, manufacturing, products, overhead costs, person hour, products (goods), profit (mark up), profit margin, revenue, trading and wastage.
Purpose:
This unit standard specifies the competencies required to demonstrate knowledge of the requirements of entrepreneurs. It includes demonstrating knowledge of
the requirements of entrepreneurs. This unit standard is recommended for all national Vocational Education and Training programmes and qualifications.
Purpose:
This unit standard specifies the competencies required to demonstrate knowledge of the requirements of entrepreneurs. It includes demonstrating knowledge of
the requirements of entrepreneurs. This unit standard is recommended for all national Vocational Education and Training programmes and qualifications.
Purpose:
This unit standard specifies the competencies required to demonstrate knowledge of the requirements of entrepreneurs. It includes demonstrating knowledge of
the requirements of entrepreneurs. This unit standard is recommended for all national Vocational Education and Training programmes and qualifications.
This is the subject that equips trainees with relevant skills and knowledge to run and operate their businesses successfully.
Trainees will be able to draw up their business plans and assume they can implement fully and per their expectations.
Trainees will be equipped with managerial skills and learn all aspects of running a business.
On completion of this module the participant will be able to:
• Demonstrate understanding of the importance of business development.
• Demonstrate the procedure for identifying business ideas.
• Demonstrate the procedure for generating business ideas.
• Demonstrate the procedure for selecting business
opportunities.