Financial and New Venture Industry Aspects (US 7469 & 119667)

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US 7469:

This unit standard will be useful to people who aim to achieve recognition at some level in Further Education and Training or to meet the Fundamental requirement of a wide range of qualifications registered on the National Qualifications Framework.

People credited with this unit standard are able to:

  • Use mathematics to plan and control personal and/or household budgets and income and expenditure;
  • Use simple and compound interest to make sense of and define a variety of situations including investments, stokvels, inflation, appreciation and depreciation;
  • Investigate various aspects of financial transactions including costs, prices, revenue, cost price, selling price, loss, and profit.

US 119667:

Learners working towards this standard will be learning towards the full qualification or will be working within an SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to one’s job. This standard will also add value to entrepreneurs who are seeking to develop their entrepreneurial skills so that they can become more marketable for bigger contracts, including commercial and public sector contracts, for example, the Department of Public Works programmes. Learners competent in this unit standard are able to identify the structures within a selected industry or sector, the business principles and processes.

The qualifying learner is capable of:

  • Identifying and analysing the value chain within a selected industry or sector
  • Identifying the business principles and processes within a selected sector or industry’s environment
  • Demonstrating an understanding of different procurement systems that may apply in specific sector/industry

Programme Overview.. 4

Programme entry level requirements. 4

Programme Outcomes. 4

Programme Outcomes. 5

Assessment 5

Learning map (delivery structure) 7

Learner Support 7

Module 1 Use mathematics to investigate and monitor the financial aspects of personal and community life.. 8

Use mathematics to investigate and monitor the financial aspects of personal and community life  9

Terminology and definitions associated with financial situations. 9

1.1 Use mathematics to plan and control personal and/or household budgets and income and expenditure  9

Budgeting. 10

1.1.1 Describe projected income and expenditure realistically. 13

1.1.2 Present budgets in a manner that makes for easy monitoring and control 15

1.1.3 Record actual income and expenditure in relation to planned income and expenditure. 15

Identify and explain variances. 17

Provide methods for control of income and expenditure. 17

Class Activity 1: Use mathematics to plan and control personal and/or household budgets and income and expenditure  17

1.2 Use simple and compound interest to make sense of and define a variety of situations. 18

1.2.1 Describe the differences between simple and compound interest 25

1.2.2 Ensure that methods of calculation are appropriate to the problem types. 26

1.2.3 Use computational tools and verify solutions obtained. 27

Estimation and approximation. 28

Compound increase and decrease. 28

Class Activity 2: Use simple and compound interest to make sense of and define a variety of situations. 30

Module 2 Identify the composition of a selected industry/sector and its procurement systems. 31

Identify the composition of a selected industry/sector and its procurement systems. 32

2.1 The value chain within a selected industry or sector. 32

2.1.1 Understand and explain value chains within the context of own sector/industry. 34

2.1.2 Identify and explain the chains of command within the supply chain in relation to own business. 38

The chain of command in an organisation. 40

The chain of command in the value chain. 40

The chain of command if selling your products and services. 41

The effect of the chain of command on the new entrepreneur 42

Typical organisation structures as they could apply to new ventures and different industries. 42

2.1.3 Prepare and position sales pitches according to the identified chains of command. 45

Handling objections. 47

2.1.4 Identify, explain and utilise communication channels within the industry/sector role-players appropriately to ensure effective sales results. 49

How to identify and analyse role-players within a specific industry or sector 50

2.1.5 Identify the role of the chosen industry/sector in the National Economy. 50

The effect of productivity on that role so that sales pitches are effective. 51

Class Activity 3: The value chain within a selected industry or sector 51

2.2 The business principles and processes within a selected sector or industry environment 51

2.2.1 Identify methods of obtaining business for own business context 52

2.2.2 Understand and explain the areas of venture funding with examples. 53

2.2.3 Identify all role-players in the success of the selected venture in order to ensure that sales and negotiations are planned effectively  54

Negotiation and sales role players. 55

2.2.4 Establish joint ventures or sub-contractor relations where necessary to deliver on larger projects. 55

The golden rewards of joint ventures. 55

Class Activity 4: The business principles and processes within a selected sector or industry environment 56

2.3 Procurement systems that may apply in specific sector or industry. 57

2.3.1 Describe methods for identifying procurement and logistical needs. 57

2.3.2 Typical procurement documents that apply to industry. 59

Requisition Form.. 59

Stock Level Report 59

Order Form.. 59

Delivery Note. 60

Letter 60

Contracts. 60

Quotations. 60

2.3.3 Describe typical methods of recording and controlling delivery and usage of materials according to own business context 61

Class Activity 5: Procurement systems that may apply in specific sector or industry. 62

Reflection. 62

Facilitator Observation Checklist 62

Annexure A.. 63

Samples of Documents in the Procurement Process. 63

Requisition Form.. 63

Stock Level Report 64

Order Form.. 65

Delivery Note. 66

Order Confirmation. 67

Contract 68

Quote. 70

Summative Assessment. 71

Knowledge Questions. 71

Practical Activities. 71

Witness Testimony. 71

Logbook. 71

Glossary.. 72

References and Further Reading  78

 

Description

US 7469:

This unit standard will be useful to people who aim to achieve recognition at some level in Further Education and Training or to meet the Fundamental requirement of a wide range of qualifications registered on the National Qualifications Framework.

People credited with this unit standard are able to:

  • Use mathematics to plan and control personal and/or household budgets and income and expenditure;
  • Use simple and compound interest to make sense of and define a variety of situations including investments, stokvels, inflation, appreciation, and depreciation;
  • Investigate various aspects of financial transactions including costs, prices, revenue, cost price, selling price, loss, and profit.

US 119667:

Learners working towards this standard will be learning towards the full qualification or will be working within an SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to one’s job. This standard will also add value to entrepreneurs who are seeking to develop their entrepreneurial skills so that they can become more marketable for bigger contracts, including commercial and public sector contracts, for example, the Department of Public Works programmes. Learners competent in this unit standard are able to identify the structures within a selected industry or sector, the business principles and processes.

The qualifying learner is capable of:

  • Identifying and analysing the value chain within a selected industry or sector
  • Identifying the business principles and processes within a selected sector or industry’s environment
  • Demonstrating an understanding of different procurement systems that may apply in specific sector/industry

 

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