NSSCO Entrepreneurship (6146) study plan

Define entrepreneurship and distinguish it from ordinary business ownership, listing at least five characteristics that separate an entrepreneur from a manager

Compare the main types of entrepreneur (survivalist, micro, growth-oriented, social, intrapreneur) and give one Namibian or Southern African example for each type you can verify

Explain the role of entrepreneurship in job creation, innovation and national economic development, citing at least three mechanisms

Analyse the personal qualities, skills and background factors that support entrepreneurial success, and identify your own three strongest and two weakest traits

Evaluate the main motives for starting a business and the main reasons new ventures fail within their first three years

Distinguish a business idea from a business opportunity using criteria such as market need, profitability, feasibility and timing

Apply at least three idea-generation techniques (brainstorming, mind mapping, problem spotting, SCAMPER) to produce a list of 15 candidate business ideas

Screen your 15 ideas against a written checklist of feasibility criteria and reduce them to three shortlisted opportunities

Explain the difference between invention, innovation and improvement, and classify each of your shortlisted ideas accordingly

Identify sources of business information and support available to new ventures in Namibia, such as development finance institutions, incubators and small business support agencies

Identify and describe the sections of a standard business plan and explain the purpose of each section

Draft the description of business, product or service, and ownership structure sections for your leading opportunity

Write a customer and market analysis section that states the target market, estimated size and competitor positioning

Set out the operational plan for your venture, covering location, suppliers, equipment and staffing needs

Produce a first-draft executive summary that accurately reflects the rest of the plan

Distinguish primary and secondary market research and select appropriate methods for your venture

Design a short customer survey or interview guide of 8 to 10 questions and pilot it on at least five potential customers

Apply market segmentation to define your target customer profile precisely by age, income, location and buying behaviour

Explain the four elements of the marketing mix and justify a specific decision for each element for your venture

Compare your pricing approach with at least two competitors and justify the price you will charge

Classify business costs into fixed and variable and calculate the break-even point for your venture using a worked example

Prepare a projected cash flow statement for the first six months of your venture, showing inflows, outflows and closing balances

Explain the purpose of the main accounting records (cash book, petty cash book, sales and purchases records, trial balance) and state why each matters to a small business

Calculate and interpret basic ratios, including gross profit margin, net profit margin and mark-up

Describe at least three sources of finance for a new venture and evaluate the cost and suitability of each

Describe the main production or service-delivery process for your venture and identify its critical steps and bottlenecks

Explain the purpose and basic elements of a stock control system and propose one suitable for your venture

Outline the stages of the human resource cycle (recruitment, selection, induction, training, appraisal, termination) for a small business

Draft a simple job description and a set of five interview questions for the first employee you would hire

Explain the purpose of a quality control system and propose two quality checks appropriate to your product or service

Identify the legal forms of business ownership available in Namibia and compare their liability, registration and tax implications

List the main regulatory registrations and obligations a new small business must satisfy, such as business registration, tax registration and sector licences

Explain the purpose of a contract and identify the essential elements of a valid contract for a simple supply agreement

Describe ethical business practices and give three examples of unethical conduct with their consequences for the business

Explain the social responsibility obligations of a business towards employees, customers, the community and the environment

Identify the main risks facing your venture and propose a control measure for each using a simple risk register

Explain the role of ICT tools in small business communication, record-keeping and marketing, and select three tools you would adopt

Draft a short business letter or email requesting finance or a supply quotation, applying correct business communication conventions

Revise your full business plan so that all sections are consistent, especially the marketing, operations and financial sections

Complete a timed practice paper under exam conditions and review every error against the relevant domain

Consolidate Domain 1 notes into a one-page summary sheet of definitions, types and success factors

Answer five short-answer questions on entrepreneurship from memory and mark them against your notes

Review your three shortlisted opportunities and confirm the single strongest one with written reasons

Explain innovation and opportunity identification to an imaginary classmate in under 200 words