Diploma in Entrepreneurship

Purpose

The purpose of this qualification is to equip learners with knowledge and skills with a focus on entrepreneurship and small business development and management.

Entrepreneurship encompasses entrepreneurial thought (creative thinking) and action (innovation) to start and manage an enterprise. Business Management comprises the application of management principles and an entrepreneurial spirit to manage and grow a business.

Upon graduation, learners will be able to create and maximise opportunities to make a difference in their own business, corporate environment, government agency or any other small business they might be entrusted to manage.

Rationale

Since 1994, entrepreneurship is seen to combat youth unemployment and poverty alleviation in South Africa. This qualification is necessary for the national, regional and industry-related growth patterns in both formal and informal sectors of the economy. Entrepreneurship is prevalent within the small, medium and micro (SMME) sector which employs more than half of the country's labour force.

The university consulted the private sector companies, government agencies and entrepreneurs alike to understand the kind of knowledge an entrepreneurship learner is expected to possess. The feedback assisted in structuring the qualification. Consulting these prospective employers boosts the learner placement in terms of Work Integrated Learning.

This qualification places entrepreneurial thought and action at the core of the curriculum with the delivery of content highly focused on creativity, innovation and risk-taking. The qualification will provide benefits to the learner, society and the economy. Learners of this qualification can start their small businesses, thereby generating income as well as creating employment within their communities. The result of job creation and economic participation is a reduction in poverty and other social ills, as well as increased economic participation by individuals. This qualification benefits the society and economy as more goods and services are delivered thereby contributing positively to the GDP and state income in the form of different taxes.

Upon completion of the qualification, the learner will function successfully as a

• Lead entrepreneur;
• Small, Medium;
• Micro-sized Enterprise (SMME) support agent, or work in parastatal organisations that offer entrepreneurial initiatives.

The Diploma in Entrepreneurship offers learners a vocational pathway, thus allowing them to articulate vertically to the Advanced Diploma, Postgraduate Diploma, Masters and Doctoral within the field.

Recognition of Prior Learning (RPL)

In keeping with the national policy frameworks as well as the institution's mission and vision, widening of access is promoted through Recognition of Prior Learning. Recognition of Prior Learning (RPL) is a process of identifying the knowledge and skills of a learner against the admission requirements of the qualification and for credits against a part thereof.

The process involves the identification, mediation, assessment and acknowledgement of knowledge and skills obtained through informal, non-formal and formal learning. The RPL process is multi-dimensional and multi-contextual, aimed at the individual needs of the learners. The RPL process includes guidance and counselling, as well as the preparation of a body of evidence to be presented by the RPL learner to meet institutional requirements. An appeal procedure is also in place to accommodate queries. RPL in this qualification will relate to gaining access to the qualification and credits/advanced standing as described in institutional guidelines.

Entry Requirements

The minimum entry requirement for this qualification is

-

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

Or

• National Certificate (Vocational) , NQF Level 4, granting access to Diploma studies.

This qualification consists of compulsory modules at National Qualifications Framework Levels 5 and 6 totalling 360 Credits.

Compulsory Modules, Level 5, totalling 162 Credits

• Entrepreneurship 1, 30 Credits.
• Communication, 18 Credits.
• Business Computer Applications, 18 Credits.
• Marketing 1, 24 Credits.
• Financial Management 1, 30 Credits.
• Economics, 24 Credits.
• Mercantile Law, 18 Credits.

Compulsory Modules, Level 6, totalling 198 Credits

• Small Business Management 2, 30 Credits.
• Business Computer Applications 2, 18 Credits.
• Financial Management 2, 24 Credits.
• Marketing 2, 24 Credits.
• Small Business Management 3, 24 Credits.
• Entrepreneurial Practice (WIL) 3, 30 Credits.
• Financial Management 3, 24 Credits.
• Small Business Operations 3, 24 Credits.

1. Acquire detailed knowledge of business management concepts, facts and principles for starting and managing businesses.
2. Understand marketing for small businesses in terms of knowledge, theory and practice.
3. Detailed knowledge of entrepreneurship as a discipline in terms of schools of thought and practices.
4. Understand the legal implications of starting and running a business as well as the ethical factors to be considered.
5. Understand operations in terms of the transformation of inputs into sellable products and services.
6. Source different types of funding, application of different financial control mechanisms, and making an investment decision within small business development and management context.
7. Apply communication, teamwork, and networking skills to formulate, maintain and improve stakeholder relations.

Associated Assessment Criteria for Exit Level Outcome 1

• Apply different managerial functions in a small business.
• Implement various leadership styles applicable to a specific business environment.
• Apply human resources management function for the planning, recruitment and maintaining of a motivated staff compliment.
• Identify and demonstrate the place, purpose and objectives of the functional areas of an enterprise.

Associated Assessment Criteria for Exit Level Outcome 2

• Analyse a business market environment for opportunities and threats in supplying products and services.
• Develop a marketing mix for the promotion of products and services.
• Design a promotional strategy to market new and existing offerings for a small business.
• Formulate a feasibility study as part of the initial stages of the development of a business plan.

Associated Assessment Criteria for Exit Level Outcome 3

• Identify and apply various forms of entrepreneurship suitable for specific business environments.
• Develop skills needed to succeed in entrepreneurship.
• Develop innovative and creative products and services to fill up a gap in the market.
• Develop a business plan informed by thorough market research for funding purposes.

Associated Assessment Criteria for Exit Level Outcome 4

• Apply legal principles of contracts, labour relations, and basic conditions of employment to starting and managing a small business.
• Analyse the impact of legislation governing the formulation, maintenance and termination of businesses.
• Develop a code of ethics for a small business.

Associated Assessment Criteria for Exit Level Outcome 5

• Apply operations management principles to ensure quality processing for goods and services.
• Source appropriate resources needed in the production of products and services.
• Develop an optimum operations system by different factory layouts and methods to ensure efficiency and effectiveness.

Associated Assessment Criteria for Exit Level Outcome 6

• Determine the various sources of short, medium and long term financing to fund small business enterprises.
• Prepare budgets based on historical data and forecasts.
• Analyse financial statements using financial ratios to determine the profitability of an enterprise.

Associated Assessment Criteria for Exit Level Outcome 7

• Apply knowledge and practice of meeting procedures and related documentation.
• Report to stakeholders using financial and production statements.

Integrated Assessment

Integrated assessment forms part of continuous assessment at the institution and takes the form of an appropriate mix of both formative and summative assessment methods. Assessment policy and practices at the institution promote constructive alignment of the curriculum, learner centred-learning and assessment, and the importance of feedback to enhance learner engagement. Assessment practices will be fair, reliable and valid. It will also be in keeping with academic disciplinary and professional field norms and standards.

Each module assessment comprises formative and summative assessments.

The formative assessment aims to enhance the learning and to provide learners with an opportunity to reflect critically on their learning and to improve their levels of personal accountability and time management. The formative assessment usually consists of a variety of assessment tasks relevant to the field of study. In this qualification, it will include a variety of tasks such as problem-solving individual and group assignments and projects, case studies.

and business-related simulations.

Summative assessment will take place at the end of a section of work/quarter or semester and aims at assessing learners' attainment against the Exit Level Outcomes. Summative assessments are internally and externally moderated based on institutional policy and requirements. Summative assessments usually consist of a variety of formal assessment tasks relevant to the field of study, including written tests, reports and examination. In this qualification, it will consist of written assessments in the form of written class tests and an examination conducted during and at the end of the academic year.

Integrated assessment is holistic and uses project reports, a portfolio of evidence and an oral presentation related to the needs and requirements of the industry and field of study.