New Venture Creation SAQA ID66249

The complete qualification consists of the many unit standards totally 162 credits.

Each unit standard can be attended independently and If the delegate is found to be competent, they will receive the respective credits towards the Further Education and Training Certificate: New Venture Creation Certificate on completion of the above unit standard.

New Venture Creation SAQA ID66249 unit standard courses.

New Venture Creation SAQA ID66249 is only offered to Corporate groups. T&Cs apply.

SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

PURPOSE AND RATIONALE OF THE QUALIFICATION

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This qualification replaces:

PURPOSE AND RATIONALE OF THE QUALIFICATION

Purpose:
The purpose of the Qualification is to develop the appropriate skills and knowledge required by a person for the establishment and development of a small to medium business venture, and address the economic, administrative and behavioural (psycho-social) barriers that contribute to success in starting and sustaining the venture.

This qualification is intended for persons who wish to start, operate, manage and grow a new small to medium business venture. Learners attempting this qualification will be equipped with a variety of technical, business managerial and personal skills and strategies to help them succeed in the creation and sustenance of a business. The successful learner will develop a sound foundation for the application of these skills and knowledge to explore a diverse range of entrepreneurial opportunities.

Recipients of this qualification will be able to:

• Demonstrate an ability to identify and create a new venture.
• Demonstrate knowledge of interpersonal skills required in a business environment.
• Demonstrate an understanding of basic economics within an market economy.
• Manage a new venture by applying business principles and techniques.
• Demonstrate an understanding of the role of leadership and management.

Rationale:
This Qualification will meet the needs of the formal and in-formal Small, Micro and Medium Enterprise Sector by providing training standards against which entrepreneurs can be trained. This Qualification meets the needs of society by, primarily, providing persons who are able to apply the fairly complex knowledge and skills required to be an entrepreneur and thus contribute to the economic upliftment of themselves, their community and thereby the nation as a whole. Alternatively this Qualification is also attractive to persons who have not received formal training in this Sector but who are are already managing and/or are working as employees within an established Small, Micro and Medium Enterprise business.

This Qualification contributes to an integrated National Qualifications Framework; provides for access, mobility and progression within the Small, Micro and Medium Enterprise Sector; enhances the quality of training for entrepreneurs; allows for the redress of past and contributes to the development of the learner entrepreneurs.

The majority of the learners attempting this qualification are likely to be unemployed persons who, via a learnership, have been identified and selected as having the potential to create a new business venture. With this Qualification and the established of a Small, Micro and Medium Enterprise provides the learner access to further learning opportunities at NQF Level 5 in Business Consulting Practice and Business Advising.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

It is assumed that the learner has the following knowledge and skills:

• Communication at NQF Level 3.
• Mathematical Literacy at NQF Level 3.

Recognition of Prior Learning:
All recognition of Prior Learning is subject to quality assurance by the relevant accredited Education, Training, Quality, and Assurance Body and is conducted by a registered workplace assessor. Because the standards are only core and fundamental, these standards may have been acquired in a range of economic sectors and these will be recognized as appropriate.

Access to the Qualification:

There is an open access to this qualification, keeping in mind the “Learning Assumed to be in Place”.

RECOGNISE PREVIOUS LEARNING?

Y

QUALIFICATION RULES

The Qualification consists of a Fundamental, a Core and an Elective Component.

To be awarded the Qualification learners are required to obtain a minimum of 149 credits as detailed below.

Fundamental Component:
The Fundamental Component consists of Unit Standards in:

• Mathematical Literacy at NQF Level 4 to the value of 16 credits.
• Communication at NQF Level 4 in a First South African Language to the value of 20 credits.
• Communication in a Second South African Language at NQF Level 3 to the value of 20 credits.

It is compulsory therefore for learners to do Communication in two different South African languages, one at NQF Level 4 and the other at NQF Level 3.

All Unit Standards in the Fundamental Component are compulsory

Core Component:
The Core Component consists of Unit Standards to the value of 82 credits all of which are compulsory.

Elective Component
The Elective Component consists of individual unit standards from which the learner must choose unit standards totalling a minimum of 11 credits.

EXIT LEVEL OUTCOMES

1. Demonstrate an ability to identify and create a new venture.

2. Demonstrate knowledge of interpersonal skills required in a business environment.

3. Demonstrate an understanding of basic economics within an market economy.

4. Manage a new venture by applying business principles and techniques.

5. Demonstrate an understanding of the role of leadership and management.

Critical Cross-Field Outcomes:
This qualification promotes, in particular, the following Critical Cross-Field Outcomes:

Identifying and solving problems in which responses display that responsible decisions using critical and creative thinking have been made when:

• Demonstrating an ability to identify and create a new venture.
• Demonstrating knowledge of interpersonal skills required in a business environment.
• Managing a new venture by applying business principles and techniques.
• Demonstrating an understanding of the role of leadership and management.

Working effectively with others as a member of a team, group, organisation, and community during:

• The identification and creation of a new venture.
• The management of a new venture.

Organising and managing oneself and one’s activities responsibly and effectively when:

• Demonstrating an ability to identify and create a new venture.
• Managing a new venture.

Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written persuasion when:

• Demonstrating an ability to identify and create a new venture.
• Demonstrating knowledge of interpersonal skills required in a business environment.
• Managing a new venture by applying business principles and techniques.

Collecting, analysing, organising and critically evaluating information to better understand and explain:

• An understanding of basic economics within an market economy.
• An understanding of the role of leadership and management.

Using science and technology effectively and critically, showing responsibility towards the environment and health of others when:

• Demonstrating an ability to identify and create a new venture.
• Demonstrating an understanding of basic economics within an market economy.
• Managing a new venture by applying business principles and techniques.

Demonstrating an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation when:

• Demonstrating an understanding of basic economics within an market economy.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

• 1.1 An understanding is demonstrated of the importance of a paradigm shift from a job-seeking attitude to a business opportunity seeking attitude.
• 1.2 Business opportunities are identified and evaluated in terms of its potential viability.
• 1.3 Problems-solving techniques and principles are applied within a business start-up and operation context.

Associated Assessment Criteria for Exit Level Outcome 2:

• 2.1 An understanding is demonstrated of the concept of group dynamics.
• 2.2 An understanding is demonstrated of the characteristics of effective team work.
• 2.3 An understanding is demonstrated of various networking principles and techniques.
• 2.4 Potential personal limitations, abilities and expectations are identified for self developmental purposes.

Associated Assessment Criteria for Exit Level Outcome 3:

• • 3.1 An understanding is demonstrated of new venture financing sources and opportunities.
  • 3.2 An understanding is demonstrated of the principles of micro and macro economics.
  • 3.3 Potential threats and opportunities within the economic environment are identified for future business decision making.
  • 3.4 An understanding is demonstrated of business competitiveness.

Range: Business competitiveness includes but is not limited to factors such as inflation, exchange rates, interest rates, economic indicators and competition.

Associated Assessment Criteria for Exit Level Outcome 4:

• 4.1 A business plan for a new venture is developed using strategic planning principles and techniques.
• 4.2 Guidelines for the implementation and monitoring the strategic action plan are formulated in terms of milestones and timeframes.
• 4.3 Financial management planning principles and techniques are applied in order manage the business in an efficient and effective manner.
• 4.4 Production and/or operations management is applied in a chosen business opportunity.
• 4.5 Sound human resources management techniques are applied in order to set up a productive and motivated workforce for a business.
• 4.6 Administrative principles and procedures are applied for sound administration and record-keeping.

Associated Assessment Criteria for Exit Level Outcome 5:

• 5.1 Knowledge is demonstrated of how management and leadership principles are applied to improve business effectiveness and efficiency.
• 5.2 Knowledge is demonstrated of the differences between leadership and management in terms of managing a business.
• 5.3 Knowledge is demonstrated of leadership and management styles in relation to their impact on business performance.
• 5.4 Leadership and management principles and techniques are applied in order to enhance business performance.

Integrated Assessment:
Because assessment practices must be open, transparent, fair, valid, and reliable and ensure that no learner is disadvantaged in any way whatsoever, an integrated assessment approach is incorporated into the Qualification. Learning, teaching and assessment are inextricably linked. Whenever possible, the assessment of knowledge, skills, attitudes and values shown in the unit standards should be integrated.

Assessment of the communication, language, literacy and numeracy should be conducted in conjunction with other aspects and should use authentic new venture creation contexts wherever possible.

A variety of methods must be used in assessment and tools and activities must be appropriate to the context in which the learner is working. Where it is not possible to assess the learner in the workplace or on-the-job, simulations, case studies, role-plays and other similar techniques should be used to provide a context appropriate to the assessment.

The term ‘Integrated Assessment’ implies that theoretical and practical components should be assessed together. During integrated assessments the assessor should make use of formative and summative assessment methods and assess combinations of practical, applied, foundational and reflective competencies.

Assessors and moderators should make use of a range of formative and summative assessment methods. Assessors should assess and give credit for the evidence of learning that has already been acquired through formal, informal and non-formal learning and work experience.

Assessment should ensure that all Specific Outcomes, Essential Embedded Knowledge and Critical Cross-Field Outcomes are assessed. The assessment of the Critical Cross-Field Outcomes should be integrated with the assessment of Specific Outcomes and Essential Embedded Knowledge.

INTERNATIONAL COMPARABILITY

Best Practice:
The following countries were selected for the International Comparability due to the fact that their programmes, like the Further Education and Training Certificate: New Venture Creation, are programmes that are mostly presented by organisations responsible for new business development, new venture creation or entrepreneur development. These countries are Seychelles, Bulgaria, Slovinia, India, Thailand and Uganda.

Seychelles:
The Seychelles Industrial Development Corporation has within it the Small and Medium Business Bureau which primary looks after the interests of Small and Medium Business as well as providing training opportunities for entrepreneurs. The basic entrepreneur programme consists of the following modules:

• Tax and Finances.
• Insurance and Risk.
• General Business Issues: Business Structure, Superannuation, Debt Recovery/Unpaid Invoices.
• Self Promotion/Marketing.

Findings:
The Further Education and Training Certificate: New Venture Creation compares favourably to the training opportunity presented by the Small and Medium Business Bureau except that the Further Education and Training Certificate: New Venture Creation offers empowerement in a lot more of the softer skills such as management and leadership.

Bulgaria:
In Bulgaria the Bulgarian Association for Management Development and Entrepreneurship has as one of its core functions the unifying of the best training institutions in Bulgaria and the promotion of certified training programmes of its members. Among one of the certified training programmes is the programmme for New Business Developers. This programme deals with the following aspects: