Exploring Entrepreneurship

Overview

Framework:
RQF
Level:
Level 1
Unit No:
H/617/4091
Credits:
2
Guided learning hours:
20 hours

Assessment Guidance

Portfolio of Evidence

Aim

To develop learners’ understanding of the skills and behaviours needed for successful entrepreneurship and the skills required to self-assess their own suitability for enterprise.

For the full unit details, please download the latest version of the qualification specification. This is available for download on the relevant qualifications page.

Unit Learning Outcomes

To view the assessment criteria and any additional content, please expand the relevant learning outcome below.

1 — Know the characteristics of a successful entrepreneur

Entrepreneurship is often described as the process of starting a business that offers an innovative product, service or process. The entrepreneur sees a potential business opportunity and follows it through to delivery.
The skills and behaviours required to be an effective entrepreneur include:
• effective communication and interpersonal skills
• creative and imaginative thinking
• practical, organisational and planning skills
• the ability to manage finances
• confident to work on own initiative
• risk taker
• confident • motivated, passionate and enthusiastic.

Assessment Criteria

  • 1.1

    Define the term ‘entrepreneur’.

  • 1.2

    Identify the main skills that are needed to be a successful entrepreneur.

  • 1.3

    Identify some of the behaviours that are needed to be a successful entrepreneur (e.g. willingness to take risks).

2 — Be able to assess own suitability for enterprise

In this learning outcome, the learner has the opportunity to assess their own suitability as an entrepreneur. Learners could design a checklist using the skills and behaviours from learning outcome 1. They can research how they can develop skills and behaviours that they identify as a gap and make a judgement on their suitability to become an entrepreneur.

Assessment Criteria

  • 2.1

    Describe own existing enterprise skills and behaviours.

  • 2.2

    Identify skills and behaviours that would need further development.

  • 2.3

    Give examples of how they could develop in the necessary areas.

  • 2.4

    Make a judgement on how well-suited they are to becoming an entrepreneur, using evidence from their self-assessment.