S.1 Entrepreneurship, Term 3
Business Start-up Process
What you will learn
S.1 · Entrepreneurship · Term 3
Business Start-up Process
Competency
The learner follows the steps involved in starting a business, saves money and invests in a profitable venture
| No. | The learner should | Type |
|---|---|---|
| 1 | Know the factors that enable an individual to start up a business, including some basic principles of effective record keeping Knowledge | Knowledge |
| 2 | Follow the correct steps in starting a business which will eventually lead to developing a business plan KnowledgeSkills | KnowledgeSkills |
| 3 | Prepare a budget, recognising its value to business development UnderstandingSkillsGeneric skills | UnderstandingSkillsGeneric skills |
| 4 | Know the different sources of business finance Knowledge | Knowledge |
| 5 | Assess the benefits and challenges of each source of business finance SkillsUnderstandingValues & attitudesGeneric skills | SkillsUnderstandingValues & attitudesGeneric skills |
| 6 | Know the factors that determine saving and investment UnderstandingSkillsGeneric skills | UnderstandingSkillsGeneric skills |
| 7 | Appreciate the reasons for and forms of saving KnowledgeValues & attitudes | KnowledgeValues & attitudes |
| 8 | Understand how to prepare a savings plan, including how spreadsheets, books and calculators are used UnderstandingSkillsGeneric skills | UnderstandingSkillsGeneric skills |
| 9 | Know factors to consider before taking an investment decision KnowledgeUnderstanding | KnowledgeUnderstanding |
| 10 | Know factors that are considered for locating a business KnowledgeUnderstanding | KnowledgeUnderstanding |
What do the labels mean?
Each learning outcome is tagged with what it builds: Knowledge (facts you can recall), Understanding (explaining why), Skills (things you can do), Values & attitudes, and Generic skills such as communication and critical thinking.
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