Bachelor of Commerce in Entrepreneurship

Purpose

The qualification emphasises general business principles and theory as preparation for entry into general employment, either as an entrepreneur or entrepreneurial thinker in corporate organisations. It also exposes learners to develop their understanding of, concepts, principles and theories of entrepreneurship within the context of a developing country such as South Africa. The qualification will develop learners' capacity to analyse scenarios within the discipline of entrepreneurial studies, to make innovative decisions critical to the development, and the establishment of innovative and creative business ideas. This qualification will prepare learners for a Postgraduate study through the enhancement of professional, academic and research skills.

The specific skillsets incorporated into this qualification present a combination, which is highly attractive to prospective entrepreneurs and employers and adds significant value to the workplace and the country's economy. This qualification is designed to equip learners with the ability to think creatively and innovatively, act strategically, professionally and ethically and to contribute meaningfully to the South African economy through the establishment of/and expanding of entrepreneurial ventures. The qualification thus facilitates the development of a well-rounded entrepreneur with a solid foundation in business management. It also allows for comprehensive depth of theoretical knowledge and understanding applied within the context of entrepreneurship. Learners will be equipped with a broad knowledge base, in-depth theoretical knowledge and application of competencies relevant to further study, enter the world of work or establish a business venture. The design of the qualification will facilitate learning through the exposure to and application of core learning areas such as business management and entrepreneurship, enabling graduates to employ their knowledge and skills in complex business environments and entrepreneurial ventures.

This qualification will allow learners an opportunity to demonstrate their problem-solving skills through the analyses and solving of business challenges or opportunities through the implementation of a project plan. They will also produce and communicate complex business specific information using technological software and applications within the entrepreneurial context.

Rationale

Entrepreneurship is recognised as critical to the economic future of South Africa yet there is recognition that few possess the skills to initiate and sustain entrepreneurial businesses or business ideas. The South African economy is perceived as an economy at risk due to both the global and technical economic recessions that South Africa (South Africa) has experienced (Baxter, 2009). The macro environmental changes, within the business environment in SA and globally, reduced the ability of the economy to rely on traditional employment building businesses. As a result of this global phenomenon, there is a need for entrepreneurs to generate employment opportunities (Department of Small Business Development, 2018).

The National Development Plan stated that 90% of the expected 11 million jobs need to be created by year 2020, and these are to be created by entrepreneurs starting small businesses (National Development Plan, 2012). The development of entrepreneurial businesses can be instrumental in promoting economic growth to create employment opportunities.

The qualification will provide learners with the skills required to create, innovate, implement and manage new products and/or services within either large corporate business or small businesses. This qualification will enable learners to apply a well-rounded knowledge base across a broad range of industries and government departments/entities. Career opportunities for graduates of this qualification exist as:

• Entrepreneur.
• Small Business Manager.
• Corporate Entrepreneur.
• New Business Developer.
• Business Consultant.

This qualification will prepare graduates to further their Entrepreneurship studies at Higher Education Qualifications Sub-Framework (HEQSF) Level 8.

Recognition of Prior Learning (RPL)

RPL can be used to admit learners. Learners have been admitted through the formal RPL process which is governed by the relevant policies.

RPL processes are qualification specific in that the criteria against which evidence of prior learning must be provided are determined by the learning normally assumed to be in place for qualifications at the level concerned in the field concerned. Instruments are only designed when requests are made as they are expensive to design, implement and assess. The procedure is governed by the Credit Accumulation and Transfer, Recognition of Prior Learning and qualification Completion Policy (IIE010).

In addition to RPL a Credit Accumulation and Transfer mechanism exists for access and advance standing for formal learning from a recognised, registered and accredited institution on a registered and accredited qualification. CAT rules as proposed by national policy are applied.

If an applicant applies for RPL admission, the learning assumed to be in place for the qualification is assessed against Exit Level Outcomes equivalent to the formal learning required for admission. This would include an evaluation of the content as well as the applicant's cognitive and technical competence.

Applicants prepare a portfolio against these stated requirements which is then assessed by a team of experts/academics in line with the policy.

Recognition is awarded for

• Learning, and not for experience per se.
• Learning that is on the level of the specific level descriptors of the qualification/unit standard.
• Learning that is in line with applied competence and has a balance between theory and practical application appropriate to the subject or unit standard.

Entry Requirements

• National Senior Certificate, NQF Level 4, granting access to bachelor studies.

Or

• National Certificate (Vocational), NQF level 4, granting access to bachelor studies.

Or

• Senior Certificate, NQF Level 4, with endorsement.

This qualification consists of compulsory modules at Levels 5, 6 and 7 totalling 360

• Compulsory Modules at Level 5: 90 Credits.
• Business Management 1A 12 Credits.
• Entrepreneurship 1A 12 Credits.
• Accounting 1A 12 Credits.
• Applied Communication Techniques 9 Credits.
• Business Management 1B 12 Credits.
• Entrepreneurship 1B 12 Credits.
• Accounting 1B 12 Credits.
• Quantitative Techniques A 9 Credits.

Compulsory Modules at Level 6: 143 Credits

• Economics 1A 12 Credits.
• Economics 1B 12 Credits.
• Entrepreneurship 2A Ideation 16 Credits.
• Business Management 2A 12 Credits.
• Financial Management for Entrepreneurs 12 Credits.
• Quantitative Techniques B 9 Credits.
• Work Integrated Learning 12 Credits.
• Entrepreneurship 2B: Small Business Management 16 Credits.
• Business Management 2B 12 Credits.
• Business Law 18 Credits.
• Project Management 12 Credits.

Compulsory Modules at Level 7: 127 Credits

• Introduction to Research 10 Credits.
• Entrepreneurship 3A 18 Credits.
• Business Management 3A 18 Credits.
• Work Integrated Learning 12 Credits.
• Entrepreneurship 3B 18 Credits.
• Business Management 3B 18.
• Entrepreneurial Risk Management 18 Credits.
• Research Practice 15 Credits.

1. Understand the entrepreneurial business principles, practices and theories supportive of identifying economically viable business opportunities within emerging economies such as South Africa that allows for the successful establishment and Management of Small, Medium and Micro Enterprises (SMMEs).
2. Demonstrate knowledge and understanding of research methodologies, theories, techniques and principles.
3. Demonstrate entrepreneurial problem-solving skills by analysing business environments to develop innovative and creative financially viable business strategies inclusive of the economic development of local communities within an emerging economy.
4. Make sound business decisions and act ethically and professionally within the legal framework presented by the South African government.
5. Communicate appropriately and effectively within the business environment.

Associated Assessment Criteria 1.

• Understanding of theories, principles and practices of entrepreneurship within the South African context.
• Explain principles and practices of Micro- and Macro-Economics within the South African economy.
• Describe the business activities and functions within an entrepreneurial venture.
• Discuss the he important role of creativity and innovation in entrepreneurship.
• Demonstrate an informed knowledge of various theories behind entrepreneurial creativity and innovation.
• Identify potential entrepreneurial opportunities within local, regional and national communities within South Africa.
• Apply relevant concepts, principles, practices and processes in developing a business plan and starting a new venture.

Associated Assessment Criteria 2.

• Apply the research process and techniques of gathering, analysing, interpreting and evaluating data relevant to the entrepreneurial business environment.
• Assess the validity and reliability of research within the entrepreneurship discipline.
• Demonstrate an ability to select, analyse, synthesise and organise literature to present a research proposal.
• Demonstrate informed knowledge on research ethics practices.

Associated Assessment Criteria 3.

• Discuss the socio-economic challenges within the South African context.
• Describe the role and impact of corporate social responsibility and corporate social initiative qualifications within organisations.
• Analyse the business environment and its influence on entrepreneurial opportunities.
• Explain the statutory requirements for preparing the Annual Financial Statements.
• Apply financial planning and control measures in the development of a business plan.
• Develop risk strategies that will empower entrepreneurs to manage their business risks.
• Discuss the role of social entrepreneurship on the local economy.
• Discuss the role of corporate entrepreneurs in expanding businesses and contributing to the local economy.
• Apply the accounting and financial principles and theories to make sound entrepreneurial business decisions. Distinguish between an idea and opportunity within the context of entrepreneurship.
• Develop innovative and creative strategies to improve organisational profitability, sustainability and competitive advantage.
• Describe the use of technology to enhance entrepreneurial innovation and creativity.

Associated Assessment Criteria 4.

• Apply the principles of business law in the entrepreneurial process.
• Discuss the statutory requirements deemed necessary in establishing an entrepreneurial venture.
• Apply management principles considering ethical implications of decisions within the business environment.
• Evaluate ethical considerations applicable to the start-up and management of an entrepreneurial venture.

Associated Assessment Criteria 5.

• Illustrate an ability to communicate effectively using oral and written communication techniques within the context of business.
• Demonstrate informed knowledge on communication theories relevant to business environments and academic settings.
• Show ability to compile documents appropriate for organisational purposes.

Integrated Assessment

Formative Assessment

Learning and assessment are integrated. Continual Formative Assessment is required so that learners are given feedback on their progress in the achievement of learning outcomes. The scheme of work includes assignments, real-world briefs, tests and an integrated qualification portfolio based on the learning material and learners are given feedback. The process is continuous and focuses on smaller sections of the work and limited numbers of outcomes.

Summative Assessment

Summative Assessment is concerned with the judgement of the learning in relation to the Exit Level Outcomes of the qualification. Judgement must include integrated assessments which test the learner's ability to integrate the larger body of knowledge, skills and attitudes that are represented by the Exit Level Outcomes as a whole. Examinations, projects, reports or equivalent assessments, such as a portfolio of evidence, assess a representative selection of the outcomes practised and assessed.

Summative Assessment also tests the learner's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a module.

Integrated assessments will be designed to achieve

• An integration of the achievement of Exit Level Outcomes in a way which demonstrates that the purpose of the qualification has been achieved.
• The evaluation of learner performance which can provide evidence of applied competence.
• Criterion-referenced assessment which is clearly explained to, and understood by, the learners and which can be applied in the Recognition of Prior Learning.