ICB Entrepreneurship Programme

 

Refer to the curriculum statements under the ICB Accounting Programme for the following subjects:

• ICB Business Literacy
• ICB Bookkeeping to trial balance
• ICB Financial statements
• ICB Financial reporting and regulatory frameworks

 

 

Refer to the ICB curriculum statements under the ICB Office Administration Programme for the following subjects:

• ICB Marketing management and public relations
• ICB Human resources management and labour relations

 

Refer  to  the  ICB curriculum  statements  under  the  ICB Business  Management  Programme  for  the following subjects:

• ICB Office and Legal Practice
• ICB Financial Management and Control

 

ICB Entrepreneurship 1

Becoming an entrepreneur

 

• Explain what is meant by entrepreneurship and the world of the entrepreneur;
• outline the main rewards of entrpreneurship;
• conduct a market feasibility study;
• determine the extent of your market share;
• calculate revenue, costs, profit and break-even point;
• discuss the process of buying an existing business;
• illustrate the life cycle of a business;
• understand the need for innovation and creativity in a business;
• explain risk management for sustainability; and
• outline the business principles that should be addressed in a code of ethics.

 

 

Financing and planning your business

 

• Identify and evaluate the different sources of capital for a new business;
• explain what financiers look for;
• list acceptable forms of collateral;
• prepare a business plan that will be acceptable to a financier; and
• calculate the cost of your debt.

 

Formalising your business

 

• Outline the main differences between the different types of business form;
• list and explain the legal start-up requirements for a business venture;
• describe the relationship between the business and the bank;
• describe the importance of a strong corporate identity, and how to form such an identity; and
• set up your office in an orderly, appropriate and efficient manner.

 

Getting your logistics on track

 

• Explain the role of wholesalers in the economy;
• outline the main duties of the purchasing function in a small business;
• explain and calculate the various costs associated with inventory;
• prepare the paperwork for your procurement department; and
• demonstrate an understanding of how to set up a cost-effective distribution channel for your product or service.

 

Costing and financial techniques

 

• Calculate the total production, administration, selling and distribution costs of a product;
• distinguish between fixed, semi-fixed, semi-variable and variable costs; and
• carry out a simple break-even analysis.

 

Budgeting, cash control and forecasting

 

• Calculate the level of working capital in a business;
• identify and explain the dangers of overtrading;
• understand the effects on cash flow of external and internal events and action;
• prepare a debtors collection schedule as well as creditors settlement schedule; and
• describe the benefits of budgeting.

 

Working with SARS

 

• Explain what VAT is and how the system works;
• explain the VAT registration requirements and VAT periods;
• compare the two bases according to which vendors may be registered for VAT;
• perform basic VAT calculations;
• calculate gross earnings for an employee;
• complete a monthly EMP201 return; and
• complete the annual EMP501 reconciliation for SARS.

 

Introduction to Computing

 

• Discuss the history of computers briefly;
• learn what a PC is and how it basically works;
• identify the main components of PC Hardware;
• understand why upgrading a PC is important;
• identify various PC Software applications;
• differentiate between hardware and software;
• understand the interaction between Hardware and Software using the IPOS cycle;
• understand what networks are used for;
• identify the basic components of networks; and
• explain the advantages and disadvantages of using computers.

 

The Windows Operating System

 

• Understand where the windows concept comes from;
• learn how to use basic tools in Windows;
• learn how to Log On to your PC;
• identify the desktop and the taskbar;
• identify objects in Windows;
• use the recycle bin;
• identify tooltips;
• identify common Window components;
• learn how to control multiple opened Windows;
• learn how to start a programme;
• use the help, support and search tools;
• learn how to adjust PC hardware and PC software properties;
• learn how to change basic mouse properties;
• view the display properties;
• understand user accounts;
• add and remove programmes;
• learn what drivers are;
• use Windows Explorer to browse and create folders;
• open and navigate through the Windows Explorer structure;
• learn how to work with files and folders in Windows Explorer;
• create and save a document in Windows; and
• know how to launch a programme.

 

 

Working with Internet and email

 

• Learn what e-mail is;
• distinguish the difference between Internet e-mail and network e-mail;
• identify the various Outlook components;
• compose messages in Outlook;
• learn how to format messages;
• learn how to open a message;
• learn how to add an attachment to e-mail;
• understand why and how to create e-mail folders;
• learn how to move messages to a folder;
• understand how contacts work in Outlook;
• learn how to add and delete contacts in the address book;
• use the help function in Outlook;
• working with electronic calendars;
• schedule appointments and meetings in an electronic diary;
• create and manage contact in an electronic diary;
• understand Internet Basics;
• distinguish between the Intranet and the extranet;
• understand what viruses are;
• identify a web browser;
• understand what the Uniform Resource Locator (URL) is;

 

• identify the Microsoft Internet Explorer 9 Interface;
• use web-based tools;
• download programs and files from the web;
• understand the workings of a search engine; and
• search the web and getting usable information.

 

The entrepreneurial checklist

 

• Demonstrate an understanding of the steps necessary to start your own business.

 

 

 

 

ICB Entrepreneurship 2

Entrepreneurship and SMME’s − the economic significance of small business

 

• Discuss the role of entrepreneurs in the economy;
• define small, micro and medium-sized enterprises (SMMEs) in the context of the South African economy;
• appreciate the significance of the small firm sector in the South African economy;
• describe the economic rationale for the promotion of SMMEs in the economy;
• understand the rewards and costs associated with SMME entrepreneurship;
• outline the size, profile and performance of South Africa’s SMME economy;
• distinguish between different types of entrepreneurs and firms;
• differentiate an entrepreneurial venture from a small business; and
• assess yourself as a potential entrepreneur.

 

The new business venture and getting started

 

• Understand the process of new venture creation;
• appreciate the role of motivation in influencing small business formation;
• explore the antecedent influences on entrepreneurship;
• understand a business opportunity and a window of opportunity;
• explain the sources of ideas for venture formation;
• establish a timeline for starting up your business venture;
• examine the due diligence in starting up a new business venture;
• compare factors concerning business location; and
• consider ethical factors of a start-up venture.

 

Entrepreneurial management functions

 

• Describe the levels of management in an entrepreneurial business;
• define entrepreneurial business management and describe the basic management functions in an entrepreneurial business environment;
• understand the differences between the various entrepreneurial business management functions;
• review alternative viewpoints of business management and its relationship to the entrepreneurial small business environment; and

 

• distinguish between leadership and management.

 

Leading a small business

 

• Describe the full meaning of leadership and its role in entrepreneurship;
• recognise and facilitate the six fundamental transformations in today’s entrepreneurial organisations and leaders;
• identify the primary reasons for leadership derailment and the new paradigm skills that can help to avoid it;
• appreciate the crucial importance of providing direction, alignment, relationships, personal qualities and outcomes;
• identify personal traits and characteristics that are associated with leadership;
• recognise autocratic versus democratic leadership behaviour and the impact of each;
• know the distinction between people-orientated and task-orientated leadership behaviour and when each should be used;
• understand how the theory of individualised leadership has broadened the understanding of relationships between leaders and followers; and
• recognise how to build partnerships for greater entrepreneurial and organisational effectiveness.

 

Marketing and advertising

 

• Outline the secrets to successful advertising and marketing;
• explore and evaluate the different forms of media and mass communications;
• create your own advertisements; and
• initiate a marketing campaign.

 

Your staff and labour legislation

 

• Outline and explain the Basic Conditions of Employment Act;
• calculate and explain normal time and over-time as well as the opportunity cost of each;
• explain the various types of leave that an employee is entitled to during the course of his or her employment;
• outline the implications of leave payments and leave encashment;
• outline the most important aspects of Black Economic Empowerment (BEE); and
• outline the most important requirements for sound employment contracts.

 

 

An introduction to economics

 

• Define economics;
• describe the economic environment in which an organisation functions;
• classify and explain economics as a science;
• explain the basic economic problem;
• differentiate between microeconomics and macroeconomics;
• explain the micro and macroeconomic and operational environments applicable to an organisation;
• distinguish between needs, wants and demand;

 

• discuss and classify the hierarchy of human needs;
• define and calculate opportunity cost;
• illustrate and interpret a production possibility curve;
• demonstrate the relationship between production and cost;
• identify and discuss the problems flowing from the basic economic problem; and
• indicate why you should study economics.

 

Economic systems and how the economy works

 

• Discuss how the different economic systems attempt to solve the basic economic problem and questions arising from it;
• discuss the various economic systems meaningfully;
• know the advantages and disadvantages of each system;
• know the similarities and differences between the systems;
• identify South Africa’s current economic system;
• give an opinion on the ‘ideal’ economic system;
• distinguish between households and businesses and show how their activities interrelate;
• describe the role of government and show how it interacts with households and businesses;
• describe the role of the foreign sector and show how it interacts with the domestic economy; and
• describe where and how the financial sector fits into the entire economic cycle.

 

The monetary sector, public sector and foreign sector

 

• Explain the origin and functions of money;
• discuss the requirements of money;
• discuss the instruments of monetary policy;
• discuss the transmission mechanism;
• fully explain equilibrium in the money market;
• discuss various financial intermediaries;
• discuss the reasons for and the nature of government intervention;
• describe regulation in the economy;
• explain the role of tax as a fiscal policy instrument;
• discuss loans and expenditure as fiscal instruments;
• explain why there has to be co-ordination between fiscal policy and monetary policy;
• explain what international trade is and what it includes;
• place the present world economy in historical perspective;
• give reasons why international trade takes place;
• explain the difference between comparative and absolute advantage; and
• explain the advantages of international trade.

 

The economic cycle, growth, development and forecasts

 

• Graphically depict the consumption function and interpret the income expenditure diagram;
• explain the relationship between expenditure and savings;
• show the relationship between the interest rate and the level of investment;
• discuss finance, valuation and investment in the economy;

 

• explain the working of the multiplier effect;
• evaluate the effect of government expenditure and taxes on the economy;
• identify the effect of the foreign sector on the economy;
• calculate the multiplier;
• understand the effect of the exchange rate and interest rates on the economy;
• explain labour supply and demand;
• calculate equilibrium in the labour market;
• discuss the role of the unions in the labour market;
• present the labour market on graphs;
• define and interpret the effect of unemployment and the informal sector on the South African labour market; and
• describe the main intricacies of labour in the economy.

 

The significance and progression of international business

 

• Examine the changing nature of the international business environment by critically analyzing the dynamic nature of this environment as an important source of major business opportunities;
• identify the reasons for ‘going global’;
• discuss various similarities between domestic and international business;
• identify and discuss various differences between international and domestic business;
• examine ‘degree of involvement’ by analyzing two main approaches – classification structure of Howard Perlmutter (four types of attitudes that influence internationalisation) and the stages approach; and
• briefly comment and compare the new age transnational approach.

 

ICB Entrepreneurship 3

 

The entrepreneurial revolution

 

• Explain the concept of entrepreneurship;
• describe the skills and qualities of entrepreneurs;
• view the evidence of the transformation of the world economy, with particular reference to the role played by entrepreneurs in this transformation; and
• justify why building an entrepreneurial society should be a high priority in the 21st century.

 

The entrepreneurial process

 

• Outline the entrepreneurial process;
• analyse the Timmons model of the entrepreneurial process; and
• examine the relationship between the application of the entrepreneurial process and entrepreneurial ambitions.

 

Recognising and evaluating opportunities

 

• Discuss the pressures and demands in the marketplace that drive opportunities for entrepreneurs, with an eye toward sustainability;
• better understand the creative processes involved in entrepreneurship;
• develop concepts for evaluating a personal entrepreneurial strategy and apprenticeship;
• effectively utilise screening methodologies that can help determine whether ideas are potential opportunities;
• assess the probable fit of the entrepreneur with their team and resources, and the balance of risk and reward;
• determine whether your best idea at this time has sufficient potential to pursue the development of a thorough business plan; and
• assess whether you believe you can sufficiently alter the idea and your strategy to create a good fit and an attractive risk-reward balance for you and your investors.

 

Managing rapid growth

 

• Identify the characteristics of high-growth business ventures;
• explain the dimensions of business growth;
• discuss the factors influencing entrepreneurial growth;
• analyse the problems associated with rapid growth; and
• examine the organisation and leadership requirements associated with rapid growth.

 

 

Introduction to strategic management

 

• Define and evaluate strategic management;
• describe and explain the advantages of systematic corporate strategic planning;
• appraise the strategic management process;
• describe and explain the key elements /steps in the corporate strategic planning process;
• examine the different levels of strategy and the characteristics of strategic as compared to tactical decisions and management;
• analyse and assess the corporate planning process in different organisational contexts;
• describe the role of the key individuals involved in the strategic management process;
• provide a critical overview of the building blocks of the strategic management process;
• describe the various levels of strategic management;
• appraise the relationship between strategy and competence; and
• analyse the importance of stakeholders on the strategies employed by companies.

 

 

Global business strategy

 

• Analyse and discuss the planning framework, approaches to planning, benefits of planning, and the difficulties of planning in international markets;
• explain and examine the Ansoff growth matrix;
• discuss the key strategic decision areas;
• compare and discuss all elements of international strategy and organisational dynamics;
• elaborate on the components of international strategy and competition;

 

• explain the significance of international strategy and level of economic development; and
• examine and analyse the capital requirements associated with global business strategy.

 

Global human resource management: mentorship and training

 

• Discuss the concept of mentorship;
• examine the necessity of cross-cultural training in global business;
• critically discuss the philosophy and objectives of training;
• analyse and discuss the identification of target training groups and the importance of training expatriates and their families;
• critically discuss the importance of identifying specific training needs;
• compare and contrast the various types of training;
• examine the purpose and importance of continual training in global business; and
• critique the need for effective measurement of training.

 

Managing and leading change

 

• Recognise social and economic pressures for change in today’s organisations;
• implement the eight-stage model of planned major change and use everyday strategies for gradual change;
• expand their own and others’ creativity and facilitate organisational innovation;
• use techniques of communication, training and participation to overcome resistance to change;
• effectively and humanely address the negative impact of change; and
• describe and explain the range, nature and inputs to setting corporate objectives and goals.

 

 

Personal ethics and the entrepreneur

 

• Understand the nature of business ethics;
• evaluate the importance of ethical awareness and values for entrepreneurs;
• identify ethical dilemmas that arise in the course of operating a business;
• analyse approaches to and decisions involving ethical issues; and
• discuss the impact of an entrepreneur’s personal ethics on the business venture.