Certificate in Entrepreneurship
(Level 4 – 15 Credits)
 

The Certificate in Entrepreneurship is a 15-credit Ofqual regulated qualification and is the equivalent level to a 15- credit level 4 course. This course has been designed to provide the learner with an understanding of entrepreneurship in business, the skills and qualities needed by a successful entrepreneur and the roles an entrepreneur plays in starting and developing businesses. The learner will develop skills in evaluating possible new business ventures and will be able to prepare for a new business venture. In order to achieve this certificate learners must produce work which demonstrates achievement of the learning outcomes at the standards provided by the assessment criteria, using relevant examples to illustrate their work.

Total Qualification Time: 30 Hours

Total Guided Learning Hours: 60

Total Credit Value: 15

Entrepreneurship

The aim of this unit is to provide the learner with an understanding of entrepreneurship in business, the skills and qualities needed by a successful entrepreneur and the roles an entrepreneur plays in starting and developing businesses. The learner will:

• Understand entrepreneurship in business
• Understand the skills and qualities of a successful entrepreneur
• Be able to evaluate the viability of a new entrepreneurial idea
• Be able to prepare for a new business venture

Indicative Content

1. Understand entrepreneurship in business

• What is entrepreneurship
• Entrepreneurial lifecycle: new idea conception; creation of organisation to harvest opportunity; harvesting of opportunity
• New business ventures, business start-ups
• Opening new markets; fulfilling a new need; identifying a gap in the market; new products and services; new business models; disruptive business models
• Entrepreneurship vs established business management
• Can create employment and wealth
• European Commission Entrepreneurship 2020 Action Plan; Entrepreneur First (EF)
• World Economic Forum – Entrepreneurial Ecosystem
• DIT Global Entrepreneur programme; entrepreneurship visa; TechStars London

2. Understand the skills and qualities of a successful entrepreneur

• Types of entrepreneur; small business entrepreneur; lifestyle entrepreneur; high-growth potential entrepreneur; professional entrepreneur; serial entrepreneur, corporate entrepreneur, social entrepreneur
• Skills and qualities: risk-taking; organising; motivating people; drawing together a team of people with relevant skills; creativity; opportunity analysis; speed of taking action to take advantage of opportunities; decision-making; innovative; hard-working; passionate; able to sell ideas and convince others; perseverant; resilient; imaginative; motivated; problem-solving; vision, teamwork, commitment

3. Be able to evaluate the viability of a new entrepreneurial idea

• New business opportunities: services, products, new business models
• Idea generation
• Model/theory: Drucker’s 7 sources of innovation
• Making recommendations: selection of workable idea; justifying the business case; financial projections; customer base; gap in market; need for product/service

4. Be able to prepare for a new business venture

• Component parts of an effective business plan; executive summary; business description; market analysis; organisation management; sales strategies; funding requirements; financial projections
• Developing a brand: link with business strategy; identification of target customers; research of target customers; develop of brand positioning; developing of messaging strategy; development of name, logo and tagline; development of content marketing strategy; development of branded items (e.g. website, business cards)
• Business promotion; marketing plan; social networks; promotional products, adverts, samples
• Business start-up plan: strategy; team; financial objectives and projections; form of business organisation and legal set-up; product/service and their features and benefits; market; customer analysis; competitors; market positioning; sales and marketing strategy; operations; payback plan (is using loans and other people’s investment)