Teacher: Gcwabe Admin Dominic

Materials Collector

QUAL ID: 103284

Level 1 Learning Manual

524901009 KM-01 and 524901009 KM-02

CHAPTER SUMMARY

Understand what an entrepreneur is

Identify the qualities that an entrepreneur should possess

Distinguish between the various types of business

Identify the advantages and disadvantages of the different types of businesses

Understand the difference between micro, macro and market businesses

Understand the impact, the different parties have on the micro business environment

Describe the importance of a business plan

Explain the importance of vision, mission and values in a micro-environment

Describe the SWOT analysis and the importance thereof

Explain different concepts used in financial terminology

Understand the dynamics of debt and the impact of interest on an individual

Explain the importance of a personal budget

Identify the different elements of a budget

Explain the importance of saving

Describe the principle of cash flow

Explain the importance of communication in a business

Identify different types of communication channels

Explain the importance of listening effectively