DEVELOPING ENTREPRENEURSHIP AND SELF-EMPLOYMENT SKILLS OF IMMIGRANTS by mediashelterinternational

DESSI: DEVELOPING ENTREPRENEURSHIP AND SELF-EMPLOYMENT SKILLS OF IMMIGRANTS

TRAINING MANUAL

Germany, Netherlands, Turkey, Lithuania, Sweden, Greece

2021 Prepared by

shelter international e.V. S.A.F.E. Projects Aydin Kulturel Gelisim Dernegi Non-formal learning club "WE" Estety Innovation Hive

Project Number: 2020-1-DE02-KA204-007423

The European Commission support for the production of this publication does not constitute an endorsement of the content which reflects the views only of the authors, and the European Commission cannot be held responsible for any use which may be made of the information contained therein.

TABLE OF CONTENTS 3

Introduction

The basic terms of Entrepreneurship

Self-employment

Business Idea and Business Plan

Risk management & Business Law

Marketing

Access to Finance & Financial Management

Management of Diversity

Creative Thinking

Career management skills

Leadership and team working

Written, Oral and Media Communication skills

Digital literacy

INTRODUCTION DESSI training manual created for the adult educators/trainers/mentors who works with immigrants/refugees. There is a need to equip the adult educators who work with immigrants as it is necessary to employ the immigrants and integrate them into the labour market. It will improve the awareness, experience and skills required for entrepreneurs willing to mentor immigrants. The aim of the manual is to develop the entrepreneurship skills of immigrants. Manual based on easy-to-use model filled with lesson plans, good practices, case studies, exercises, that bring the concepts, frameworks, and tools to life. Manual consists of documentation, resources and guidance for mentors included and is functioning independently of any outside involvement. This training manual comprises ten modules focusing on different aspects of migrant entrepreneurship.

Each module contains a detailed description of the learning process, with the aims, instructions and guidelines that will help trainers to facilitate each session. The Training Manual includes references to background materials and the handouts, quizzes and other materials prepared to support learning in each module. It provides academic content but also practical activities and functional experience. The innovative element of the module is focusing on both transversal skills and job-related skills. Each module covers the most important elements and aspects of migrant entrepreneurship, the training workshop may be adapted for a particular audience or country by changing the modules’ duration and/or by selecting the appropriate modules and topics of discussion. In consultation with partners, trainers may also select or omit sessions from the modules.

1. THE BASIC TERMS OF ENTREPRENEURSHIP Introduction: Nowadays the effect of entrepreneurship is obvious to the business environment as the business environment has a significant impact on determining a company’s potential and success. In addition, the business environment may present the entrepreneur with many opportunities though it may also create difficult obstacles. In terms of an entrepreneur’s daily work, it can be said that is quite different from that of a regular employee as an entrepreneur can work independently as many hours as he wants and he can. Finally, entrepreneurship plays a vital role in today’s business environment drives into innovation and openness. Entrepreneurial spirit is characterized by innovation and risk-taking and is an essential part of a nation's ability to succeed in an ever-changing and increasingly competitive global marketplace.

Purpose: The main objectives of his training material were to introduce the trainees to the basic concepts of entrepreneurship and its dimensions. As we saw, entrepreneurship is a purposeful activity to initiate, maintain and develop a profit-oriented business and the main aspects of it has to be taken seriously into account by the entrepreneurs in order to establish a viable and sustainable firm. Entrepreneurs can be classified according to their social identity. This training module aims to make an introduction to entrepreneurship and its basic concepts. Entrepreneurship is a purposeful activity to initiate, maintain and develop a profit-oriented business and the main aspects of it have to be taken seriously into account by the entrepreneurs in order to establish a viable and sustainable firm.

Learning Outcomes: After finishing the module, the participants will know: The meaning of the entrepreneurship The characteristics of the entrepreneur The types of the entrepreneurship The Business environment The nature of entrepreneurship The personal issues with which an entrepreneur must deal

1. 1. What is Entrepreneurship? Entrepreneurship means independently undertaking a business activity of which the outcome is not fixed. Entrepreneurship requires a positive attitude, a drive to advance and improve. You may be a natural-born entrepreneur, you can inherit the idea of entrepreneurship or you can grow into it. Anyone can become an entrepreneur no matter what cultural or societal norms may be. Becoming an entrepreneur may also be a decision based on careful and deliberate calculation. Entrepreneurship is not an exact science, and it does not require extensive education.1 Other researchers adopted different approaches as follows: “Entrepreneurship is a purposeful activity to initiate, maintain and develop a profit-oriented business.”2 “Entrepreneurship is the set of behaviours that initiates and manages the reallocation of economic resources and whose purpose is value creation through those means.” 3 “Entrepreneurship is the resource, process and state of being through and in which individuals utilize positive opportunities in the market by creating and growing new business firms.”4

Toma et al., 2014

Cole, 1968, p. 65

Herron and Robinson, 1993, p. 283

Gries and Naudé, 2011, p. 217

Anybody can choose to be entrepreneurial. External entrepreneurship means acting as an entrepreneur, establishing a company and running a business. Internal entrepreneurship, on the other hand, refers to an individual’s entrepreneurial behavior at the service of someone else. Independent individual entrepreneurship is developing an active, extroverted, open personality and having a positive attitude towards life.

1. 2. Characteristics of an entrepreneur and successful entrepreneurs “An entrepreneur is a person who likes both their work and their life; work is a hobby and a personal interest.” An entrepreneur is often seen as an active, open person who is interested in what is happening around him/her and in society generally. Entrepreneurs are said to know what they are doing and why they are doing it. They are thought to have a clear understanding of their skills and expertise. Entrepreneurs must set a clear goal that they can then seek to attain through concrete actions. A goal is the end result, position or state of affairs that the business aims to be in as a result of specific actions. In some cases, reaching this goal may take several generations and the goals might also benefit society in general.

Entrepreneurs must have a clear idea of why their business exists. The company’s mission statement is often only a few sentences long and as such it can be revisited both on a regular basis and as circumstances demand. The mission statement can include one or even several business ideas. With strategy and solid business practices, the entrepreneur aims to attain the goals set out for the business and consequently for him or herself. Some of the entrepreneurial characteristics are mentioned below:

Entrepreneurial Characteristics

The OECD lists three major skill categories required by entrepreneurs: Technical communication, environmental monitoring, problem-solving, application and use of technology, interpersonal and organizational abilities. Company management abilities include planning and goal setting, decision making, human resource management, marketing, finance, accounting, customer relations, quality control, negotiation, business launch, growth management, and regulatory compliance. Personal entrepreneurial skills include self-control and discipline, risk management, creativity, perseverance, leadership, change management, network development, and strategic thinking.

In addition, some other characteristics can be found below: Need for the focus of control Need for accomplishment Clarity of thinking Pragmatism Ambiguity tolerance Dreaming Willingness to look for challenges Academic level Risk-taking

In examining the key skills required of entrepreneurs, a number of key elements in entrepreneurship can be listed as such:

Willingness to take risks; Capacity to recognize and to capitalize on a business chance; Capacity for human creativity to develop a business or to establish a valuable thing. Skills to arrange the resources necessary to take advantage of the opportunity

1. 3. Types of Entrepreneurs Entrepreneurs can be classified in a number of different ways. The following are two such classifications.

Classification according to motive and business practice Entrepreneurs can be categorized as either opportunistic or professional entrepreneurs based upon the individual’s motives and business practices. Opportunistic entrepreneurs seek growth and continuously scan the business environment for new business opportunities and possibilities to exploit. A professional entrepreneur is generally a sole entrepreneur who is independently self-employed.

Classification according to social identity Entrepreneurs can also be classified according to their social identity. Entrepreneur-managers are the natural leaders of growing firms. These entrepreneurs play an active role in society and they know their place within the firm. The goal of this entrepreneur is to manage and grow the firm for the next generation. Craftsman entrepreneurs, on the other hand, emphasize service and the importance of customer satisfaction. Their primary reason for starting their own business is independence. The third type of entrepreneur is the classical entrepreneur. The classical entrepreneur seeks business results and to maximize the profitability of the firm.

1. 4. The business environment Society’s opinion and its valuation of entrepreneurship affect the business environment. Therefore, it is necessary to also look at entrepreneurship in a wider context. The business environment has a significant impact on determining a company’s potential and success. Therefore, thoroughly thought out business goals and strategy must take into account the environment and must be ready to adapt to possible changes. The business environment may present the entrepreneur with many opportunities though it may also create difficult obstacles. It is a combination of internal and external factors that influence a company's operating situation. The business environment can include factors such as: clients and suppliers; its competition and owners; improvements in technology; laws and government activities; market, social and economic trends.

1. 5. An entrepreneur’s work traits An entrepreneur’s daily work is quite different from that of a regular employee. Working for someone else is much less risky than establishing and managing a business. While being an employee certainly has its benefits so does being an entrepreneur. The following are certain practical examples of a typical entrepreneur’s work.

Customer demands and freedom The customers’ demands drive an entrepreneur. As an entrepreneur, no managers sit above you providing instructions or orders as to how you should do your work. Instead, the entrepreneur receives direct feedback on successes and failures from the customer. The entrepreneur’s own objectives determine the development of the business. Being an entrepreneur always involves financial risk.

However, one of the benefits of entrepreneurship is the feeling of success that arises from having gained the confidence of a customer. The most sought-after benefit of being an entrepreneur is freedom. This freedom allows the entrepreneur to truly be in control of his or her own life.

Healthcare and social benefits Healthcare is generally the responsibility of the individual entrepreneur. In the case of illness, health insurance policies may provide a daily allowance though an entrepreneur cannot receive paid sick leave. An entrepreneur rarely has the time or money to be sick. Maternity, paternity, and other leaves of absence are generally difficult to arrange. However, establishing a functioning work-life balance is a challenge not only for entrepreneurs but also for regular employees.

Work time The duration and time at which an entrepreneur works is largely dependent on the entrepreneur’s own circumstances. The entrepreneur is free to set his or her own work routines. This can, on occasion, mean that workdays stretch late into the evenings and free time may be quite scarce at times. Some entrepreneurs may have difficulties separating their work and personal lives.

Social security, unemployment and retirement An entrepreneur’s social security is safeguarded through the entrepreneur’s insurance and general unemployment insurance. The Self-Employed Persons Pension Insurance is mandatory for entrepreneurs and is based upon the entrepreneur’s declared income. The entrepreneur is responsible for his or her own unemployment and pension insurance and must pay for them at their own expense. In addition to these mandatory policies, the entrepreneur can take out additional insurance policies by which to safeguard skills, know-how and living expenses through retirement.

SUCCESS STORY The case of Alibaba Jack Ma: Jack Ma, who founded Alibaba and is its Executive Chairman, was rejected from as many as 30 jobs, including a job at KFC before he became the richest man in China. His e-commerce company, Alibaba attracts 100 million shoppers a day and his real-time net-worth is a whopping $21.9 billion. However, being the richest person in China did not come easy to Ma. He went through a lot of rejection before seeing all the unprecedented success. For starters, Jack Ma revealed in a recent interview that he failed three times a college entrance exam. Unfortunately, it did not just end there. Ma faced more obstacles when he founded Alibaba in 1998. The brand did not turn profitable for the first three years and Jack Ma had to get creative. One of the company's main challenges was that it had no way to do payments and no banks would work with him. This is when he decided to start his own payment program called Alipay. The program transfers payments of different currencies between international buyers and sellers. "So many people I talked to at that time about Alipay, they said, 'this is the stupidest idea you've ever had,'" he said. "I didn't care if it was stupid as long as people could use it." 5

5 Source: http://www.businessinsider.in/Thesethree-success-stories-of-entrepreneurs-are-bound-to-inspireyou/articleshow/50546793.cms

ACTIVITIES 1) After reading the first module, please complete the following sentences. 1. Entrepreneurship is the set of behaviors _________________________________________________ 2. An entrepreneur is a person who likes ____________________________________________________ 3. Some of the characteristics of entrepreneurs are creativity _______________, goal-orientation, determination _______________, desire to _____________________, self-confidence_____________, ability to motivate, _________________ lead others.

2) Read the sentences below and circle the right answer. 1. One of the factors that the business environment can include is: a) clients and suppliers b) customers c) social enterprises d) sponsors 2. An entrepreneur a) Isn’t pragmatic b) Never seeking to Challenge c) Has Locus of Control d) Doesn’t’ need to be innovative 3. An entrepreneur a) Have to set a clear goal b) Don’t need to have a clear idea c) Don’t need to have a mission d) Can be pessimists 4. An entrepreneur a) works all day and night b) depends on his/her work on a variety of external circumstances c) is free to set his or her own work routines d) works a few hours per day

2. SELF-EMPLOYMENT Introduction: There are several variables that can contribute to your success in company, but one of the most crucial is self-employment. It means working for yourself allows you to control your own pay. Even better, your income will not be decreased by extra costs such as commuting to work, health insurance. Work from anywhere you choose. You have the freedom to choose your own workspace as a self-employed person. Self-employment has grown significantly, particularly in light of the coronavirus, which we are currently dealing with. The majority of us were dismissed and lost our jobs. We start to learn to climb and become our own boss just when we were losing. This is precisely where self-employment began to play a larger role in our lives. To be more successful, you need to have some skills.

Purpose: Self-employed individuals work for themselves. They operate or run their own business, which can range from basic one-man-band offering services like dog walking, decorating, or professional services to a corporation created to produce and market a new type of tech developed by the owner. The goal of this training module is to discover what self-employment entails, which plays a significant part in today's business world, to acquire the skills required to approach success step by step, and to comprehend its benefits and significance.

Learning Outcomes: After finishing the module, the participants will know: · · · · · ·

The meaning of the self-employment skill The classification of self-employment skills The advantages of self-employment The examples of self-employment The reasons for being a self-employed worker The ways to improve self-employment skills

2.1. What is Self-Employment Skill? Self-employment is focusing on how people come up with and execute new ideas and techniques for producing goods and services. The phrase "self-employed" refers to someone who generates his or her own income through a business, contract, or freelancing activity. A self-employed person is someone who works alone or with a small group of individuals on a job or activity, with or without hired workers.

2.2. The Classification of Self-employment Skills

2.2.1.Personal Skills: a. Creativity: Despite workers who take positions with precise job descriptions and supervision, self-employed persons must be innovative in order to generate money or income. Selfemployment activities include starting a new business or focusing on a creative interest. You must also be innovative in order to solve company problems or generate new goods, services, or consumers. b. Self-Discipline: Self-employment without self-discipline is a logical contradiction. You must be able to encourage yourself to locate job and finish duties on schedule. If you own a retail business, you are usually required to work specified hours. Others who work independently and at their own speed must nevertheless create and adhere to a timetable in order to maximize job possibilities and manage time properly. Lack of a boss is a frequent motivator for self-employment, but this implies you must fulfil the responsibilities of both employer and worker in order to thrive.

c. Business Knowledge: To attain success and insurance solutions, self-employed individuals generally rely on good business acumen. At its most fundamental, business know-how enables you to determine pricing points for items and services, grasp how to sell and serve consumers or clients, and recognize the significance of business communication. In addition, selfemployed individuals must keep proper financial records themselves or engage an accountant. This is critical for both corporate management and tax accounting.

d. Ambition: Starting your own business because you lack the desire or work ethic to succeed in a traditional job is not a good idea. Together with self-discipline, you must have the motivation to even get out of bed every day, schedule appointments and meetings, engage with coworkers and clients, and finish job duties on time. Workers must generally increase the bar on performance in order to prevent becoming comfortable and uninterested in their jobs. This is where your desire and drive will help you search out new possibilities and strategies to expand your firm.

2.2.2. Technical Skills: a. Creating business concepts: A business idea is a brief and clear explanation of a company's core activities. It describes the nature of the business, the customers, and how the products and services are delivered to the market. b. Information gathering and networking: The investigation and collection of information, as well as the creation of networks, are critical aspects in determining the viability of your company concept. Finding, nurturing, and extending valuable "contacts" is what networking entails. It all starts with determining who has the information and knowledge you require. Family, friends, acquaintances, local administrations, and businesspeople may all give valuable information and help you make new relationships for business, employment, and community life.

c. Time Management: You won't understand how quickly time passes until you become your own boss. Time is money, the more you let time pass you by without doing anything useful, the more potential revenue you lose. To address the issue of time management, you must identify strategies to improve attention.

d. Marketing: The most essential stage in assessing the viability of a company idea is to do a thorough market analysis. The success of a business is heavily reliant on how successfully it has been targeted. To determine if a company concept has a market, it is important to understand the potential consumers' requirements and aspirations, as well as the cost they can possibly pay for the items and services to be supplied. e. Resources: Market research provides you with a solid understanding of the resources inputs, such as material, equipment, labour, and cash, that your firm will need to run.

f. Financial Skills: Most new entrepreneurs put minimal effort into financial planning, believing that if the firm is performing well or the idea is strong, it would be easy to obtain extra cash. Nevertheless, most new firms need more capital than was initially anticipated. The first stage in financial management is to figure out how much money it will take to get started.

2.3. What are the advantages of self-employment? Independence, control and freedom from routine; your clients, not your employers, are the companies or persons for whom you work. They can tell you what outcomes they want from you as clients, but they cannot direct your job. Of course, you want to please your clients if you want more business, positive referrals, or higher prices. However, you are your own employer; you determine when, where, and how to work to complete the task. Financial rewards; a company's profits may rise. Companies are prepared to pay more to independent contractors because they do not have the costly, long-term responsibilities that permanent workers do, such as benefits, unemployment compensation, and pensions. Independent contractors can also reduce business expenditures from their taxes, potentially increasing their net compensation.

2.4. What are examples of self employment? Examples of self-employed jobs Graphic designer. Photographer. Writer. Social media specialist. Makeup artist. Developer. Event planner. Hairstylist.

2.5. What are some reasons for being self-employed worker? Being your own boss. Work from home. No more rush hour stress. Earn more, spend less. No more uniform. Experience dynamic workflow. Better work-life balance. Choose your own clients.

2.6. What are the ways to improve self-employment skills? Be Passionate About Your Business Take Risks Know What You Want Network Maintain Your Brand Be Flexible

ACTIVITIES Match terms with correct definitions. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Resources Creativity Time Management Creating business concepts Financial Skills Information gathering and networking Marketing Business Knowledge Ambition Self-Discipline

a) Most new entrepreneurs put minimal effort into financial planning, believing that if the firm is performing well or the idea is strong, it would be easy to obtain extra cash. b) Self-employment activities include starting a new business or focusing on a creative interest. c) The most essential stage in assessing the viability of a company idea is to do a thorough market analysis. d) Starting your own business because you lack the desire or work ethic to succeed in a traditional job is not a good idea. e) Market research provides you with a solid understanding of the resources inputs, such as material, equipment, labour, and cash, that your firm will need to run. f) At its most fundamental, business know-how enables you to determine pricing points for items and services, grasp how to sell and serve consumers or clients, and recognize the significance of business communication. g) It describes the nature of the business, the customers, and how the products and services are delivered to the market. h) Time is money, the more you let time pass you by without doing anything useful, the more potential revenue you lose. i) You must be able to encourage yourself to locate a job and finish duties on schedule. j) Finding, nurturing, and extending valuable "contacts" is what networking entails.

3. BUSINESS IDEA & BUSINESS PLAN Introduction: The business plan refers to the written report prepared before a business starts its activities, which outlines its plans and objectives. Before starting a business, it is useful to prepare a business plan to make sure that the business idea and implementation plan are logical. The aim of the business plan is to improve the new business‟ chances of success. Once a business plan has been prepared, it is to be changed and updated as the firm develops. A carefully thought out business plan can help the entrepreneur to prepare for the future and foresee potential surprises.

Purpose: This educational material aims to make an introduction to the fundamentals of the planning and implementation of a business plan. A business plan is not meant to be put away in a drawer but should instead be used to support the firm’s daily activities. Its primary purpose is to guide the work of the entrepreneur and the firm’s management. The business plan includes risk assessments and backup plans. The clear steps and measurement of the firm’s progress outlined in the plan makes the entrepreneur’s work easier and can guide, for example, the management of firm resources.

Learning Outcomes: After finishing the module, the participants will know: what a business plan is the parts of a business plan what is a competitive edge the different sections of a business plan how a business idea is defined the objectives and strategy of the business

3.1. Preliminary work for a business plan Transforming a business opportunity to a business plan. An effective business plan should answer the following relevant questions: How will the firm meet the market’s expectations? Can the firm sustain and develop its business? Does the firm’s management know enough about the business?

The business plan: clearly describes the business’ focus areas, commits the stakeholders to the firm, is written clearly, summarizes the dynamics of the business model.

3.2. The business plan as a strategic tool The business plan is a useful strategic tool to be used by both starting and established firms. The business plan outlines the implementation of activities based on a business idea. The best business plans are the result of a process. Therefore, a business plan is not to be written the night before it is to be submitted. Instead, it should be crafted piece-by-piece and developed in line with the entrepreneur’s education.

3.3. The implementation of the plan A business plan should include some basic facts. The following list includes the elements that are generally included in a business plan. 1. Summary of the business 2. Defining the business idea 3. Business environment and its development 4. SWOT analysis 5. Objectives and strategy 6. Financial analysis Here are some useful hints to facilitate the process and turn a business idea into a proper and valuable business plan: Take the planning process seriously Remember to look into the future – the point of the plan is to describe how the firm’s actions will attain the desired objectives. Be realistic, do not be extremely optimistic. Be concrete – describe actions and avoid unclear language. Be exact – use numbers (Euros, units, number of employees) and schedules whenever possible. Do not make the plan too complicated; focus on that which is relevant. Remember to make it easy to read. Be prepared to update the plan throughout the planning process.

3.3.1. Summary of the business Background information: Name Industry, main products/services Sector/market area Location and facilities Intended date of establishment Ownership and main financers Personnel Revenue/Income

Business idea background: How did you get the business idea and why is the establishment of a business time for you at this moment? What is the primary motive for starting a new business? Note your basic and professional education and its importance for the firm. Note your work experience and earlier entrepreneurial experience. If the business idea is related to your hobbies, describe your hobbies.

Starting point: Your personal entrepreneurial characteristics: what are your strengths and weaknesses? Professional expertise: what are your strengths and weaknesses? Entrepreneurial expertise: what are your strengths and weaknesses? What areas for development can you identify in yourself?

3.3.2. Defining the business idea Outline the basics of the business idea. Think about how the different parts of the business idea work as a whole. A) Target segments (To whom do you market?)

Describe your industry’s segmentation, target segments. Which of these groups is most important for you? Why?

B) Product / Service

Describe your firm’s product or service offering. Why does the customer need your products and what needs do they satisfy? What is the value to the customer? Why would the customer buy your products or services? (What is the competitive advantage of your offering?)

C) Firm and product image

D) Business Methods

What kind of firm or product image should you have so that it is interesting and attractive for your target segment?

Outline the methods your business will employ: How do you ensure effectiveness, quality and level of service? What price level will you choose for your products and services? What is your primary sales channel? What skills are demanded of the firm employees?

Visual: YouTube Video: https://www.youtube.com/watch?v=wwShFsSFb-Y

3.3.3. The business environment In order to establish your own firm you need to be incorporated into the regional business environment, thus an entrepreneur has to understand it and analyse the conditions, current and future needs. When developing a business plan the followings have to be described in this part: 1. 2. 3. 4. 5. 6. 7. 9.

the size of the market (local or regional markets) the stage in the life cycle of the industry (new, growing, established, mature) consumer behaviour and related issues the most common sales channels the general price level and profitability technological development of the industry legal issues What kinds of factors affect the demand of the product or service?

3.3.4. The SWOT Analysis The SWOT Analysis of a business describes the internal Strengths and Weaknesses and the external Opportunities and threats that the future business will face. This analysis is one of the most important parts of a business plan. The board below gives some basic aspects in every matter of concern.

3.3.5. Objectives and Strategy To set an effective strategy for your business plan try to provide a credible and realistic assessment. Use the below questions as a guide: what are your firm’s primary products or services? what is the size of your firm? (turnover, number of employees, units produced)? what is your firm’s economic situation? what is your firm known for? what kinds of clients do you have? what is the firm’s image? what is the firm’s market area? is it local, regional… how have your company’s skills developed, become specialized? what technological development has happened? how has the firm networked – what kind of cooperation does it have with other firms?

3.3.6. Financial Analysis This component traditionally attracts much attention. Let us start by explaining what the financial section of a business plan is not. Realize that the financial section is not the same as accounting. Many people get confused about this because the financial projections that you include-- profit and loss, balance sheet, and cash flow-- look similar to accounting statements your business generates. However, accounting looks back in time, starting today and taking a historical view. Business planning or forecasting is a forward-looking view, starting today and going into the future. The purpose of the financial section of a business plan is as follows: Find more economical recourses (impact investors, banks, family, donor grants etc.) To show potential partners the viability of your enterprise However, the most important reason to compile this financial forecast is for your own benefit, so you understand how you project your enterprise will do.

ACTIVITIES 1. After reading the training material, please write in the table below what are some (three in number) of the strengths, weaknesses, opportunities and threats for a business. Any business that you might have on your mind or an existing one of your interest.

2. According to the training material, please match the items of the right column with those of the left columns

A) Target segments B) Product / Service C) Firm and product image D) Business Methods

1. What marketing methods will you use? 2. Which of these groups is most important for you? 3. How is the production organized? 4. What is the value to the customer? 5. What kind of firm or product image should you have so that it is interesting and attractive for your target segment? 6. What price level will you choose for your products and services? What is your primary sales channel? 7. Why does the customer need your products and what needs do they satisfy? 8. What is your business network like?

4. RISK MANAGEMENT & BUSINESS LAW Introduction: The entrepreneur must have a good understanding of business law in terms of its significance for sales and purchasing, the legality of contracts, debt recovery and consumer protection legislation. In the free market, the entrepreneur’s activities are ensured by legislation such as patents and copyrights. The importance of data protection has also increased significantly and entrepreneurs can no longer afford to neglect data security issues.

Purpose: The purpose of this module is to define the meaning of risk management as well as to address the business risks and methods of risk management. In addition, it tries to provide a holistic aspect of the subject that refers to insurance, trying to indicate the significance of it for the firms as well as entering the readers to the meaning of a contract, its validity and the debt recovery process.

Learning Outcomes: According to the contexts of the module, the readers will obtain an integrated and thorough knowledge of the main aspects which refer to business risks and methods of risk management and so on. After finishing the module, the participants will know the different types of business risks, the importance of the insurance and the contents of business contracts. Additionally, they will know that: - risk management means being aware of risks and being prepared to face them through different methods - risk management begins with the identification and recognition of risks - risk management is implemented through the firm’s daily activities by avoiding, minimizing, carrying or transferring risk - there are different methods of risk management

4.1. Risk Management “Risk management means being aware of risks and being prepared to face them through different methods”. Business is risky. There are risks in every part of a business environment ranging from the firm’s production processes, markets for goods and services and financial markets. The goal of risk management is to overcome risks through planning and directing the operations of a business so that the probability of risks is diminished and that their potential damages are minimized. Risk in itself is not bad; risk is essential to progress, and failure is often a key part of learning. However, we must learn to balance the possible negative consequences of risk against the potential benefits of its associated opportunity.

4.2. Risk Management in Practice Risk management begins with the identification and recognition of risks. The next step is to evaluate risks, to estimate how serious the consequences of certain risks are and how they can be managed. It is important for a firm to assess its risks, the potential losses that can be caused by the risks as well as the costs of risk management relative to potential losses. Risk management is implemented through the firm’s daily activities by avoiding, minimizing, carrying or transferring risk. Insurance is one of the most common methods of risk management. The risk management process can be broken down into two interrelated phases, risk assessment and risk control, as outlined in Figure 1. These phases are further broken down. Risk assessment involves risk identification, risk analysis, and risk prioritization. Risk control involves risk planning, risk mitigation, and risk monitoring (Boehm, 1989).

Figure 1. The Risk Management Cycle 6

Source: http://agile.csc.ncsu.edu/SEMaterials/RiskManagement.pdf

4.3. Business risks A firm is faced with various risks. Business activities always involve risk as an entrepreneur invests his/her capital and time into the firm with no guarantee of profits. In addition to the entrepreneurial or contractor’s risk the firm can, for example, fail in its recruitment, machinery or equipment can break down or changes in legislation can be economically damaging. Risks are caused by three factors: the lack of control, the lack of information and the lack of time. The entrepreneur can never fully control the firm’s environment. Business risks include: risks to property risks to personnel interruption risks risks related to criminal activity risks of accountability and responsibility risk of a firm becoming dependent on an outside party informational- environmental- transportation – contractual risks

4.4. Methods of risk management Risk can be managed by these methods: 1. Avoiding risk: Avoiding risk is based on pre-emptive deterrent action such as the training of personnel, work safety and the careful preparation of supplier contracts. 2. Minimizing risks: A firm seeks to diminish risks that it cannot transfer or eliminate. Risks are minimized by either sharing the risk, grouping risks or through damage prevention. By sharing risks, the firm aims to reduce onesided risks. Sharing risks requires the exchange of information in real-time with the relevant parties. 3. Transferring Risks: Transferring risks refers to the transfer of risk through a contract to another party. The transfer can be done through an insurance contract, rental agreement or a contract of sale. Insurance is one of the most common methods of transferring risk. 4. Carrying risk under one’ s own liability: Being liable for the damages of risk can also be a method of risk management. In such a situation, the firm is liable for any consequences of realized risks. This method of risk management is relevant for a firm when the probability of a risk is low and the costs of managing the risk otherwise are high.

Risk management is often thought of as the mitigation of uncertainty in the market, including aspects such as consumer behaviour and the response of competitors. While entrepreneurs should clearly strive to prevent or avoid certain risks, they should also remember that some risk is inevitable, necessary, and — when well-managed — beneficial in the long run. Here are a few suggestions for approaching and reducing unpredictable variables in business. 1. Understand that risk is an opportunity From the earliest stages of a new business idea, risk and opportunity are inseparably linked. Entrepreneurs can make this connection when comparing their personal goals with possible entry points into the market. Preliminary research will almost always yield insight on both sides, which is why startup leaders need to have an understanding of their industry. Along with identifying opportunities, doing your research can ultimately help to mitigate and manage risk. The entrepreneur who closely observes consumer sentiment, for example, will have a better idea of how to steer clear of costly missteps. The same individual will also have a better frame of reference for what risks come with the territory. Recognizing the many benefits that come from developing an understanding of the demands of the market can make a notable difference for new business owners. On the opposite end of the spectrum, trying to identify opportunities without risk can lead to less-than-desirable results.

2. Trust the process Not every visionary entrepreneur will have a grasp of risk management from the outset, and that is fine. In fact, one Halle Institute for Economic Research study demonstrated that most aspiring entrepreneurs consider themselves conservative when it comes to taking risks. The paper also points out that entrepreneurs gain more tolerance for risk as they progress in their careers. Fortunately, each decision and change made by a business leader will bring some form of risk, which offers a valuable experience. One entrepreneur might launch his venture while employed elsewhere as a way to test the waters and slowly make the transition, while another might take a more direct approach. Either way, taking risks, which often means failure at some level, is generally worthwhile.

3. Turn risk on its head Another way to conceptualize risk management is risk selection. Market research will help in determining where and how to incur risk for a business but on a much more basic level. Entrepreneurs who decide to start their own companies face more risk than those who opt to stay in their current or most recent position. The question, then, comes down to what holds greater uncertainty: security in an established job or potential success with a startup? Either choice will have its own set of risks, but the one major difference lies in the ability of entrepreneurs to call the shots for their companies. However, entrepreneurs must also realize that starting their own companies entails the possibility of failure. Thus, entrepreneurs will have to weigh the risks as they brainstorm possible business models. The risks associated with staying in one position or taking a new direction to apply inside companies, as well, and perhaps more frequently so. Sometimes the only way to reach new heights is to make sacrifices, and this can be difficult to face, especially when a business has performed well. Going from a good situation to a better one will always involve risk, so business owners will have to ask themselves whether it’s worth it.

4. Avoid complacency Just as one should generally avoid business opportunities that present themselves as risk-free, so too should one continue finding ways to stretch in a company even after achieving success. While this doesn’t mean taking on risk for the sake of it, it does mean finding a balance between organic growth and reckless expansion. The organic model may never propel a business forward, while the latter may mean that it does not survive at all. Complacency can also come in the form of optimism. In other words, entrepreneurs often tend to have a positive outlook on their life and their business ventures in particular. Yet, one’s hope that a company is on its way toward sustainable growth and success will only move it so far. Once again, staying informed and conducting market research are crucial to managing and mitigating risk. In the end, startup leaders must strive to achieve their objectives in the face of uncertainty.

4.5. Insurance Insurance is one of the most important methods by which to transfer risk. Insurance refers to the situation when an accident occurs and the insurance company covers the economic damages incurred due to the accident according to the conditions of the insurance policy. However, an insurance policy does not mean that a firm should not use other methods of risk management. In some circumstances, the insurance policy itself demands that the firm engages in some sort of damage prevention activities. It is important to be able to assess the potential economic damages associated with risk. Over-insurance refers to when the amount of the insurance surpasses the economic value of the risk’s damage. Conversely, when the amount of the insurance is less than the real value of the risk the situation is referred to as under-insurance. Both of these situations present a problem for the insurant. In the case of over-insurance, the insurance premiums will be unnecessarily high while in the case of under-insurance the firm will not recover the full cost of the damages in the case of an accident. A business’ insurance policies can include personnel, property, real estate, contents and insurance of operations. The need for different types of insurance varies between companies. Therefore, the evaluation of a firm’s risks is a good place to start when planning for insurance. More information about insurance and insurance policies is available through various insurance company websites or by meeting with an insurance agent.

4.6. Entering into a contract The following section will cover the process of preparing contracts according to legal regulations. However, it is important to keep in mind that the following is a simplified description rather than a legal, instructional guide. In today’s information society contracts are created by various means. A contract always raises the issue of trust between parties. Contracts are often the result of a process involving many stages of negotiation throughout which it is difficult to define when the final offer will come about and when it is accepted. Many contracts are also entered into through everyday actions without the parties making or accepting offers.

A contract is a bilateral legal act that demands two concurring statements, an offer and its acceptance.

Procedure for concluding an agreement: The conclusion of the agreement involves placing a proposal (offer) and accepting it (acceptance) or assuming other measures that stand as sufficient proof of the agreement between the parties. As soon as the parties reach an agreement on all the basic conditions, the agreement comes into effect, although the agreement regarding secondary conditions has been delayed. The parties are required to practice honest behaviour even at the moment of precontractual relations. The parties are entitled to initiate and maintain negotiations and are not held liable for a failed attempt to reaching an agreement. The party that begins negotiations for the conclusion of the agreement or is involved in dishonest negotiations shall compensate the other party for incurred losses. It is deemed that negotiations begin or seem to be dishonest when the party engaged in negotiations has no intentions to enter into an agreement and acts contrary to honest principles. The parties shall disclose to each other all the information they have to their knowledge deemed to be crucial to the conclusion of the agreement. If one of the parties provides the other party with confidential information during the negotiation process, the other party that is aware of and in possession of such information shall not reveal it and use it to its interests contrary to law, regardless of the fact whether the agreement has been concluded or not. When this obligation is violated, the party in breach shall compensate the other party for inflicted losses.

Freedom of Contract: The freedom of contract means that both natural and legal or juristic persons can freely enter into legally binding contracts. Contracts between parties are generally non-mandatory by nature and by law. These conditions, however, can be adapted if the parties so choose. The freedom of contract is sometimes limited by certain regulations that are binding to the contractual parties. Typically, these types of regulations are intended to protect the weaker party in the contract. Preliminary Agreement: A preliminary agreement is an agreement between the parties according to which the parties undertake to enter into the basic agreement in the future under its discussed conditions. A preliminary agreement is concluded in writing. If the parties do not adhere to the requirements imposed on its form, the agreement is considered to be invalid. A preliminary agreement shall include the term for the conclusion of the basic agreement. If the term is not indicated, the basic agreement shall be concluded within a year from the moment a preliminary agreement is concluded. In case the party that entered into a preliminary agreement avoids or refrains from concluding the basic agreement without a reasonable basis, it shall compensate the other party for incurred losses. If the parties fail to sign the basic agreement within the period specified in a preliminary agreement, the obligation to enter into this agreement ceases to exist. Validity of Contracts A contract binds its contractual parties. The declaration preceding the contract, either the offer or the acceptance, binds the party as soon as the other party becomes aware of it. A misplaced or lost letter of an offer, therefore, does not bind the party making the offer. Cancellation of an offer also will nullify the offer providing that the receiving party receives the cancellation at the same time or before the offer. The validity of a contract is also weakened when it includes something unreasonable. Some contractual stipulations can, at the request of the parties, be negotiated at a later date.

ACTIVITIES TASK1 : After reading module three, please read the sentences below and circle the right answer. 1. Risk management means a) that the entrepreneur is being aware of risks b) that there is no risk in business c) that there is no loss in business 2. Business risks include: a) risks to personnel but not to property b) risk of accountability and responsibility c) informational risks but not environmental risks d) transportation risks every 1 year 3. Methods of risk management a) Are 10 in number b) Aren’t necessary for an entrepreneur c) Can include avoiding risk d) Include only transferring risks 4. The risk management process a) involves risk identification but no risk analysis, b) involves administration of debts c) provide investments d) can be broken down into two interrelated phases, risk assessment and risk control 5. Insurance a) refers to the situation when an accident occurs and the insurance company covers the economic damages b) does not transfer risk. c) means that a firm should not use other methods of risk management d) isn’t necessary for a firm 6. A preliminary agreement a) is an agreement between the parties who undertake to enter into the basic agreement in the future under its discussed conditions b) is concluded in oral c) Does not need to include the term for the conclusion of the basic agreement. d) includes business risks

ACTIVITIES After reading module three, please read the sentences below and circle the right answer. 7. Registering terms of agreement a) isn't necessary to include information about product and price b) includes signatures c) dates of meetings with investors d) includes transfer risk e) economic indexes 8. In Debt recovery: a) one of the factors that imply is negotiating b) debts are retrieved within the longest period of time c) organizations send notices about delayed payments, d) urge customers to pay late payment charges (interests)

TASK 2: Indicate a method of managing risk and describe how it is implemented.

5. MARKETING Introduction: This educational module provides all the essential information regarding marketing that is required for a business. It can be said that marketing should be a philosophy, provides all the necessary guidelines that are required for a business, setting goals that will help a company to obtain a competitive advantage within the market. The implementation of a marketing strategy is also significant. As we know, the marketing process is an important part of a firm’s daily activities and should not be underestimated. Today firms are forced to shift from mass marketing to more targeted relationship marketing. Through the strategic planning of marketing, a firm aims to make its resources, objectives, skills and operational environment compatible. The objective is to change the firm’s operations and products so that economic and growth goals are met. Entrepreneurs have to keep in mind that marketing plays a vital role in any business.

Purpose: This educational module provides all the essential information regarding marketing that is required for a business. As we know, marketing process is a significant part of a firm’s daily activities and should not be underestimated. In addition, in this module, trainees will learn and understand the factors that construct a marketing strategy/ mix, the different methods and forms of marketing and so on. Marketing plays a vital role for any business and it has to be taken into account seriously by the entrepreneurs.

Learning Outcomes: After finishing the module, the participants will know - basic marketing principles and concepts - different marketing methods and forms - the marketing mix - the environmental marketing factors how to design a strategic marketing and communication plan

5.1. What is marketing? Marketing should be a philosophy that cuts through your entire organization, including all of your firm’s functions. The marketing process should make up a significant part of your firm’s daily actions and should not be a one-time attempt at advancing your business. The basic idea is that a firm’s long-term success and profitability is based on a long term and profitable customer relationships. Marketing should be: continuous long-term complete personalized and targeted realistic focused methodological organized profitable every day and repeated having a lot of details seeking excellence Today firms are increasingly shifting from mass marketing to more targeted relationship marketing. Relationship marketing is based on relationships, networks and interaction. The customer-seller relationship is mutually dependent and, at the same time, based on mutual cooperation.

5.2. Forms of Marketing Marketing methods can refer to the people, the organization or the sector. Therefore, the basis for distinguishing between the individuals and groups are the different properties and uses of the product. Marketing can also be divided into internal, external and interactive marketing based on the partners involved. Markets refer to the group of people that, whether as individuals or organizations, need a certain product and that have the ability, willingness and authority as well as the economic means to buy the product. Business to Consumer Marketing (B2C) Business-to-consumer marketing is marketing that targets the individual person, the consumer. Business-to-consumer marketing means targeting the individual consumer’s demand. Thus, personal or household items are emphasized. The decision to purchase is not necessarily made by one person alone but can be affected by family members or other stakeholders that are important for the consumer. The products that are sold in business-to-consumer markets are called consumer goods. Consumer goods can be divided into tangible and intangible goods. Tangible goods can be either non-durable or durable. Intangible goods are services as well as rights and benefits. Services can, again, be divided into personalized and unspecific or generic services. Many goods are in fact a combination of tangible and intangible goods. Business to Business Marketing (B2B) In business-to-business markets, purchases are always made at some organization’s cost. These organizations are public sector organizations, firms and corporations. Business-to-business markets are characterized by a limited number of customers, a complex purchasing process, a huge supply and high importance of the purchase price and a more direct link between the manufacturer and the final user. The purchasing decision is a rational process and the people responsible for it are not always easy to identify. The goods or services purchased by an organization are either meant to be resold, to be refined into other products or bought for the organization’s own everyday use. These products and services may be the same or similar ones as those demanded by consumers.

Marketing based on stakeholder relationships Marketing can be described depending on the type of stakeholder relationship. The following categorizes different types of marketing based on the interaction between the firm, its personnel and the customers into internal, external and interactive marketing.

External marketing Methods by which to compete in external marketing involve the product, price, marketing message or promotion and place or availability. The goal is that the firm’s product or service is known, preferred as well as purchased by the customers. Internal marketing Internal marketing targets the firm’s own personnel. Its objective is to “sell” the organization and the organization’s products to the firm’s employees and to create incentives to think and act according to the firm’s marketing model. Internal marketing also ensures that the employees are motivated to provide customer-oriented service. Achieving employee commitment as well as a sense of community spirit or togetherness are some of the results of successful internal marketing. External and internal marketing should support one another as it is important to form a comprehensive and united vision of the firm’s marketing objectives. Interactive marketing The firm’s employee customer service skills are in high demand when it comes to interactive marketing. This type of marketing is based on the interaction between the firm’s employees and the customer. The employees involved in interactive marketing include the personnel in sales and customer service. Sales and customer service involve two-way interaction with the customer. The main aim of customer service is to fulfil the promise of external marketing.

5.3. The environmental factors of marketing This century is the era of the environment, welfare, internationality and increasing competition. Almost everything is sold and almost anyone is involved in marketing. The goal of marketing is to create customers and to emphasize interaction. Marketing in many markets The role of stakeholders is increasingly important as the firm competes with other organizations in many different markets. These markets include financial markets, the market for employees, raw material markets, supplier markets and to some effect, the market for public policy. Networking with other organizations will help keep the firm informed about the newest trends and provide access to many different sources of information.

Prevalent trends in society Changes and trends within a society affect marketing in both its content and execution, just as they affect other parts of the business. The following are a few noteworthy trends: 1. changes in the economy and business life 2. the rise in standards of living and education 3. political changes, societal pressures and challenges in markets 4. the ageing of the population 5. the development of legislation and technology 6. the development of competition and internationalization 7. the importance of the ecology 8. the increasing importance of ethical issues 9. fashions and trends, changes in values By keeping current with these trends, an entrepreneur can foresee the changes that are coming. In the best-case scenario, the firm can translate this foresight into innovations and provide products that best serve the customer’s needs.

5.4. The strategic planning of marketing Through the strategic planning of marketing a firm aims to makes its resources, objectives, skills and operational environment compatible. The objective is to change the firm’s operations and products so that economic and growth goals are met. The objectives of marketing The objectives of marketing can be divided into different levels. -Specific goals such as specific total sales and become the company with the largest sales in the specific sector of the industry -The average goals are specific to a certain action such as the goals of advertising The marketing framework includes objectives such as the profitability of advertising and the budget limits for marketing. One of the most important objectives of marketing is to attain a competitive advantage compared to other firms in the market. This competitive advantage consists of the superiority of a firm’s offering in the eyes of the target customer. This offering must be economically feasible and reliable.

Competitive advantage may be sought out in the following areas:

General Marketing Objectives: 1. Growth- Sales- Increase market share 2. The target of a new market or market segmentation 3. Increase differentiation 4. Continuity 5. Increase brand recognition

5.5. Forming a marketing strategy: It is useful to gather information about marketing, customers and the operational environment before preparing a marketing plan. A systematic evaluation of the marketing strategy is important not only for start-up firms but for all firms in the process of selecting their marketing measures. When preparing a marketing strategy, a firm must first map out the firm’s current state. This includes an evaluation of what is being produced, for who and how. An analysis of the operational environment (economic, technological, political and legal, environmental, demographic and social/cultural analysis) is also necessary. After this, the firm must define the concrete objectives for the firm's marketing that includes sales, the limit, market share and the profitability of the marketing measures. When the objectives are clear, the firm must come up with the methods by which to attain those goals. The parts of a marketing strategy that must also be included are: the segmentation of customers, the selection of a target segment and positioning in line with the organization’s strategy.

-Through segmentation, the firm forms groups based on specific customer characteristics. After this, a chosen target segment is chosen amongst the different groups. Next, the positioning of the product is determined in relation to competing products. When a target segment is chosen and the positioning is selected, the measures by which the marketing is to be implemented are determined. Data Collection: The creation of a marketing strategy is closely linked to the collection of information and monitoring the firm’s operations in different areas. In order to guide the marketing strategy and to aid the management’s decision making it is important to conduct a marketing study.

The focus of a marketing study should focus on the following elements: 1. Operational environment: population structure of the population purchasing power opinions 2. Brands: target segment position of the brand image marketing communication 3. Customers: customer relationships customer and employee satisfaction other stakeholders 4. Markets: total market market share development estimates

-The main stages of a marketing study The main stages of a marketing study are the definition of the research problem, the design of the research, the collection of the data and the reporting of the results. 1. Defining the research problem is an important part of the planning process. 2. The research designs how the information the firm needs to solve its problem is obtained. 3. Data collection – there are numerous methods of data collection. Field research, the purpose of which is to generate new information can be further divided into quantitative and qualitative methodologies. Practical methods can include survey and interview research aiming at providing answers to questions such as how much, how often or how important a certain thing/product/service is. Theoretical methods (such as qualitative desk research), on the other hand, help to understand customer’s behaviour and thoughts. 4. After the data collection, the material is checked and coded and possibly categorised based on selected factors. Segmentation The segmentation of a market means dividing and categorizing the total market into distinct, smaller and similar groups. The basic idea behind segmentation is to divide the market according to customer groups from which the firm selects its target segment. The careful selection of the target segment will lead to the best profitability. The target segment should be manageable with the firm’s resources. A firm should not try to market its products to all possible customers.

A consumer’s behaviour can also lead to segmentation: purchase and use of the product the need (the main reason for the purchase) the user status (e.g. an experimenter or a regular buyer) the rate of consumption brand loyalty readiness to buy price sensitivity attitudes importance of the purchase The fundamentals of segmentation apply to business-to-business marketing as well as consumer marketing, however, demographic factors may play an even more important role.

5.6. Implementation After a firm forms, a marketing strategy segments the market and positions its offering it must put the marketing into practice. This begins by preparing the variables (price, promotion, product, place) consisting of the use of different marketing practices. The factors that affect a firm’s marketing mix are the firm’s current state, the business objectives, the firm’s resources, the business mission and environmental factors. Creating a firm’s image The goal behind the marketing mix should be to create a deliberate external image. The firm’s image is the picture and understanding that the consumer’s carry in their minds. This guides the firm’s stakeholders to make their decisions regarding the firm. These stakeholders include customers, financers, deciders and members of the community. The firm’s image conveys expectations and influences the expectations of the stakeholders. The customer’s view about the company is based on the promises the company made and the things it actually does in real life. Budgeting marketing The budget of the firm’s marketing effort must also be decided upon when preparing the marketing strategy. One method to determine the budget is mechanistic, or the firm simply decides what percentage of turnover is to be used for marketing. Another method is to benchmark the marketing effort with the firm’s competition. This means that the firm would invest as much into marketing as its competitors.

ACTIVITIES TASK1 : After reading module fifth, please read the sentences below and circle the right answer. 1. One of the bases for segmentation is a) Geographic location b) Budget c) Sales d) External marketing 2. Business-to-consumer marketing a) targets to the individual person, the consumer b) targets to groups c) targets to enhance the brand d) targets to economics 3. Marketing can be categorised based on a) persons b) community c) the segment, the consumer or the organization d) products 4. Positioning a) Is not an important strategic decision b) is done by placing a product into a systematically selected market segment amongst competing products c) isn’t based on a product’s competitiveness 5. One of the stages in positioning is a) Brand loyalty b) Analysis of the environment c) Make sales d) Select the target segment to focus on

ACTIVITIES TASK 2: After reading module fifth, please read the sentences below and circle the right answer.

TASK 3: Match the items from the right column with the right category of marketing from the left column according to what you read in the training module.

6. ACCESS TO FINANCE & FINANCIAL MANAGEMENT Introduction: As an entrepreneur, you most certainly must have great access to finance and know-how? Where? When? to use them. Nowadays it’s more crucial than ever to know how to get assets and how to properly manage them, during recent years, because of the unforeseen Covid-19 pandemic more businesses are closing(bankrupting) than ever before and that’s what Financial Management means - to be ready for everything.

Purpose: This educational module aim is to define the meaning of Access to finance & Financial Management. This concept aims to show access to finances and financial management of immigrants and their ability for entrepreneurship development and skills for selfemployment. To educate and empower immigrants, to use own skills and possibilities that enterprises provide. Target groups – immigrants, enterprise, adult learners and adult educators

Learning Outcomes: After finishing this educational module a participant will have great knowledge about the meaning of Access to finance & Financial Management. This will provide basic skills and educate on how to improve them and empower youth, immigrants and young entrepreneurs to use their own skills to their advantage to find the possibilities that enterprises provide.

6.1. Description of Financial Management Financial Management - may be defined as the area or function in an organization which is concerned with profitability, expenses, cash and credit, it means planning, organizing, directing and controlling the financial activities such as acquirement and appliance of funds of the enterprise. It means focusing general management principles on the financial resources of the campaign. Financial management is generally concerned with acquirement, allotment and appliance of financial resources of a concern. The objectives can be: 1. To assure the regular and competent supply of funds to the interest. 2. To assure competent returns to the shareholders which will depend upon the earning capacity, the market price of the share, expectations of the shareholders. 3. To assure excellent funds application. Once the funds are acquired, they should be applied in the maximum possible way at the least cost. 4. To assure safety on investment - funds should be entrusted in safe ventures so that a competent rate of return can be accomplished. 5. To plan a flawless capital structure- there should be a safe and fair composition of capital so that a balance is maintained between debt and equity capital.

6.2. Financial Management Planning Before you start your own business you have to plan how much capital you need to have to begin your enterprise. You should evaluate how much it costs to start your business with a minimum budget – what you can do yourself, your siblings. Where you can get financial support (funds, grants, loans). You can assess your finances in the table below.

Table 1: Financial management assessment Assessment of existing resources (how much money do you have to start your own business and how much money do you need to start your own business). How much will your product/services prepare? How much do you need for marketing your business? How much do you need to invest in your production? How much insurance do you need? Where can you ask for financial support? You have to respond to all these questions yourself.

6.3. Access to Finance Choice of sources of funds: for additional funds to be acquired, an enterprise has many choices like: Issue of shares and debentures Loans to withdraw from banks and financial institutions Public contribution to be drawn like in the form of debentures. Choice of factor will depend on relative benefit and disadvantage of each source and duration of financing. Investment of assets: the finance manager has to decide to designate assets into profitable ventures so that there is assurance on investment and regular returns is possible.

6.4. Immigrants Migrants’ contribution to the economy through the explicit creation of new businesses is an aspect that has received limited attention. In order to improve entrepreneurial skills, it is crucial to create, develop and promote the new forms and ways to support growth and enterprises creation. Migrant Entrepreneurship in OECD Countries. ’Migrants are more entrepreneurial in proportionate terms with respect to their population than natives. Research from 1998 – 2008 shows that the apportion of new migrant entrepreneurs in the labour force is much higher than that of natives. This suggests that migrants are more entrepreneurial than natives in most OECD countries.

ACTIVITIES TASK1 : After reading module six, please read the sentences below and circle the right answer. 1. Financial management a) may be defined as the area or function in an organization which is concerned with profitability, expenses, it means planning, organizing, directing and controlling the financial activities. b) is the management of cash for individual person c) is general management of the organizations' activities 2. Responsibility of a financial manager a) To ensure a regular and adequate supply of funds to the concern. b) To ensure adequate returns to the shareholders which will depend upon the earning capacity, the market price of the share, expectations of the shareholders. c) To ensure optimum funds utilization. Once the funds are procured, they should be utilized in the maximum possible way at the least cost. d) All of the above 3. Why is it important to focus on immigrants' entrepreneurship skills too, even if they make a smaller part of entrepreneurs? a) Migrants’ contribution to the economy through the direct creation of new businesses is an aspect that has received limited attention. b) Migrants are more entrepreneurial in relative terms with respect to their population than natives c) because immigrants are better labour force workers 5. Mark which facts are true(T) and false(f). The finance manager has not only to plan, procure and utilize the funds but he also has to exercise control over finances. (........) The finance manager has to decide to allocate funds into profitable ventures so that there is safety on investment and regular returns are possible. (........) The finance manager has to make decisions with regard to cash management. (........) A finance manager has to make an estimation with regards to the capital requirements of the company. This will depend upon expected costs and profits and future programmes and policies of concern. (........) Disposal of surplus: The net profits decision have to be made by the finance manager. (........)

7. MANAGEMENT OF DIVERSITY Introduction: Management of diversity is based on a non-discrimination policy and assurance of inclusion. Diversity could be described by a number of different categories such as religion, culture, sexual orientation, language, educational background, skills and abilities.

Purpose: This educational module aim is to show the importance of diversity and management in the workplace, organization for adults learners, adult educators who are interested in entrepreneurship skills development.

Learning Outcomes: gained basic knowledge about diversity, demonstrate developed/gained diversity skills, ability to create organisational policy systems and procedures to manage diversity.

7.1. Diversity in the workplace Workplace diversity assures more different understanding, faster-solving problems, new ideas, and approaches that could help to create your own business. To escape from discrimination and/or harassment at work immigrants should know workplace diversity importance. 7

Workplace diversity points out the variety of distinctions between individuals in an organization. Diversity not only involves how individuals identify themselves but also how others distinguish them. Diversity within a workplace encompasses race, gender, ethnic groups, age, religion, sexual orientation, citizenship status, military service and mental and physical conditions, as well as other distinct differences between people. Diversity has many dimensions, including physical abilities, race, gender, age, culture, religion, income, education level, etc. When you are going to establish your own company you should think about a diversity and inclusion strategy. Workplace policy should support diversity and inclusion.

Inclusion is important to understand as a possibility to work for people with difficult circumstances – suggest for them flexible working time (if it is possible). From awareness of diversity and inclusion importance, your business will benefit. Avoiding stereotypes in the workplace assure that your organizational culture is implemented correctly. An organizational culture that supports and promotes diversity should be explained and promoted within the creation own business. “Organizational culture as the values and behaviours that contribute to the unique 8 social and psychological environment of an organization”. Organizational culture or corporate culture express on which principles business is based and how the owner and manager of business make decisions, developing ideas and work together with employees. 7 https://www.peoplescout.com/insights/managing-diversity-in-workplace/ 8 https://www.atlas101.ca/pm/concepts/organizational-culture/

7.2. Managing diversity Based on PeopleScout 9 website article “To manage a diverse workplace, organizations need to ensure that they effectively communicate with employees. Policies, procedures, safety rules and other important information should be designed to overcome language and cultural barriers by translating materials and using pictures and symbols whenever applicable. Avoid making assumptions about employees from different backgrounds. Instead, look at each employee as an individual and judge successes and failures on the individual’s merit rather than attributing actions to their background. Diverse work teams let employees get to know and value one another on an individual basis and can help break down preconceived notions and cultural misunderstandings. Workplace policy should be written and presented to all employees to assure organization value usage. Diverse experience, background, religion, values and culture should be respected and treated by all employees.

7.3. Policy and Documentation 10

Organizations that embrace diversity also need to ensure that there are policies and practices in place to protect employees’ rights and stay compliant with government regulations”. Before or after establishing your own enterprise, get to know what are common regulations in the host country about diversity and 11 inclusion. “Properly documenting diversity policies is an effective means of communicating an organization’s stances on diversity. Once concrete plans are ready to be implemented, documents that outline each policy should be included in the employee handbook. Diversity policies should be reviewed with every new hire, and when updates to policies are made, they should be shared with current employees as well”. In table 1 you can do registration for your diversity and inclusion policy documents in the organization and constantly monitor.

9 https://www.peoplescout.com/insights/managing-diversity-in-workplace/

10 https://www.peoplescout.com/insights/managing-diversity-in-workplace/

11 https://www.peoplescout.com/insights/managing-diversity-in-workplace/

Table 1. Diversity and inclusion policy documents in the organization, Non-formal learning club “WE”, 2021 Having a diverse workplace means that off-color jokes about ethnicity, gender, sexual orientation or religion need to be met with zero-tolerance enforcement. Slurs, name-calling and bullying employees for any reason has no place in today’s workplace. Policies should be put in place to handle misconduct and communicate to employees that this type of behavior will not be tolerated. Employees should feel safe at their workplace that’s why we suggest you to take into account main principles at working place (respect, tolerance, sensitivity, diversity understanding. You can use prepare below table to evaluate your organization environment in Diversity assurance principles

Table 2. Diversity assurance principles, Non-formal learning club “WE”, 2021

Organizations should regularly review internal policies, especially those around harassment and equal opportunity, and make sure they reflect the most current laws and regulations. 13

Building a diverse team starts with attracting and recruiting diverse candidates. Start by reviewing your recruitment marketing materials, and carefully contemplate which candidate personas you are targeting with your careers page, job boards, social media recruiting efforts and other recruitment platforms. Here are a few points to improve your recruitment marketing strategy and bring in diverse talent:

12 https://www.peoplescout.com/insights/managing-diversity-in-workplace/ 13

https://builtin.com/diversity-inclusion/diversity-management

ACTIVITIES TASK1 : After reading module seven, please read the questions below and circle the right answer. 1. Diversity in the organization is important because (of) a) organizations have a larger pool of applicants to choose from b) diverse people are always better at their job c) higher innovation, faster problem-solving, variety of different perspectives 2. Diversity and inclusion policy documents in the organization a) helps you to monitor diversity documentation b) assurance of stabile working atmosphere c) always involve different nationality, gender, age persons d) All of the above 3. Is diversity just about race? a) Yes b) No c) I don’t know

TASK 2: Prepare diversity and inclusion documents for your organization Describe goals Principles Code of conduct

8. CREATIVE THINKING Introduction: Creativity is the ability to think outside the box, find new solutions, and generate ideas. Creativity is intelligence + imagination. Thanks to intelligence, a person is able to think, analyze information, understand cause-and-effect relationships, and draw conclusions. Imagination allows you to go beyond the usual patterns, discard stereotypes, see new ways of solving problems. American psychologist and researcher of creativity Ellis Paul Torrance identified the components of creative thinking, the level of development of which can be judged on the degree of creativity of a particular person.

Purpose: This educational module aim is to address the importance of creative thinking. A have a high level of creativity makes a person more successful, allows a person to achieve high results in any field of activity. Creative thinking is ranked third in the Top 10 Essential Agile Skills for 2020, compiled at the Davos Economic Forum.

Learning Outcomes: Creativity exercises can help revitalize the brain and tune in to effective problem solving. However, the ability to create new ideas and make unexpected moves is also a habit. Set creative tasks for yourself every day, look for new solutions to intellectual and everyday issues - and creativity of thinking will become familiar and natural for you.

8.1. Criteria for creativity Fluency is the ability to come up with a large variety of ideas at great speed. With high levels of fluency, a person is able to come up with twenty ways to use an object, for example, an ordinary pencil, in a minute. Flexibility is the ability to assess a problem from all sides and apply different strategies when solving it. Flexibility helps to quickly grasp connections between different phenomena, establish patterns, find common ground in a variety of things and events.

Originality generate

is the ability non-standard

to or

unexpected ideas, to deviate from the generally accepted pattern. Originality helps to successfully get out of emergency situations.

Elaboration is the ability not only to generate ideas but also to deepen and detail them. A high level of detail distinguishes inventors and designers.

Resistance to Premature Closure is the ability to constantly perceive new information, not being limited to any one side or aspect of it, even if it seems the most appropriate. Short circuit resistance helps to expand horizons and accumulate useful data for coming up with original solutions.

8.2. Methods for the development of creative thinking British psychologist Edward De Bono, the creator of the theory of lateral, or lateral (non-standard) thinking, described in his books several techniques that 14 help develop creativity and find original ways to solve problems. Technique 1. Synectic assault Synectic is a combination of incompatible elements. Synectic assault as a way to solve problems was invented by the American researcher William Gordo. Based on his ideas, Edward De Bono created his own method of synectic assault. It consists of the consistent use of direct, personal, generalizing and symbolic analogy. Formulate the problem. List the ways people usually solve this problem (looking for direct analogies). Think of how you would solve this problem yourself (using personal analogies). Retell the problem in your own words, name its characteristic features (use of a generalizing analogy). Imagine how familiar historical or fictional characters might solve this problem (using a symbolic analogy). Technique 2. Six hats 15 Designed for group work, but can also be used by one person. To do this, he will have to consistently try on different "hats". The technique allows you to look at the problem from different angles. Each hat symbolizes a specific approach to solving a problem.

De Bono, E. (1999). Six thinking hats. London: Penguin Books. Chicago

The white hat is informational. Putting on a white hat, you need to collect and voice all information about the problem (facts, figures, circumstances) and list the resources and opportunities for solving it.

The green hat is creative. Having put on this hat, it is necessary to generate several original ways to solve the problem.

The red hat is emotional. Having put it on, you have every right to focus on premonitions, doubts, fears and other feelings that arise when thinking about different ways to solve a problem.

The yellow hat is optimistic. The owner of this hat focuses exclusively on the positive evaluation of the proposed ideas.

The black hat is critical. It should consider all the shortcomings, difficulties and negative consequences of different options for solving the problem.

The blue hat is organizational. You need to put it on last in order to summarize the discussion and draw conclusions.

Technique 3. Going beyond Often we cannot solve a problem or task, because we limit ourselves to the framework of objective circumstances or our ideas about reality. The “go beyond” method involves the abandonment of these restrictions.

Formulate the problem. Imagine how you can solve it with inexhaustible resources and opportunities. Consider every idea that comes to your mind, and assess whether you can translate it in whole or in part in the existing conditions.

Technique 4. Random word This method can be used both in a group and individually. Formulate the problem. Say whatever word comes to mind first. Try to link it to the problem. The more words you can associate with the task at hand, the higher your creativity level will be. It is better that the words are as little connected as possible to the essence of the problem.

9. CAREER MANAGEMENT SKILLS Introduction: This module allows adult educators and immigrants to have a short summary of competencies which important in developing entrepreneurship. In this module, you can find an explanation of career importance, competencies, skills which important for successful integration into the labour market. Assessment and practical suggestions will help you to find which kind of skills do you need to work on. Adult educators will be introduced with suggestions on how to help immigrants to find a dream job or to establish their own company.

Purpose: This educational module aim is to introduce career management importance and skills in the personal and professional development field.

Learning Outcomes: gaining knowledge about career management skills developing career management skills

9.1. Career Management Skills For immigrants important to evaluate existing skills and new skills required in a host country. Career management skills are closely connected with smooth integration into the host society. If immigrants have inner motivation to work and to show endeavour fully live a self-confident and respectful life for them important to know and use career management skills. Host country language courses are important but next to them should be developed career management skills. A motivational system should help a person to reach their goals and fully integrate into society. Career management skills depend on personal skills and wishes. The person with a high level of motivation and energy to reach in life maximum what could be reached will gain and develop different career skills. But most important for adult educators working with immigrants to start to talk about: Career plans and setting goals and objectives – to compare, evaluate existing skills and try to develop a strategy for your future career needed skills After knowing what are the wishes and what kind of dream job an immigrant would like to do then it’s possible to create an action plan to deliver on it, including developing the skills required to succeed in your chosen career. Setting own small steps to keep yourself on track will help you to control and manage your development Evaluating your progress against your goals. 16

There are a lot of career management skills that could be important to analyze but below mentioned most important for immigrants to emphasize: Self-awareness – wishes, real situation understanding Labour market awareness – knowing if profession, services are needed, useful, required in the labour market Resilience – patience and stubbornness, power to reach career goals which help to solve problems Curiosity and inquisitiveness Creativity and self-employment skills - the way to figured out how to integrate into the labour market – maybe to create own company? Learning skills – adapt to new situations and fast to learn a new language and required skills. 16

https://ied.eu/project-updates/12-career-management-skills-and-how-to-measure-them/

To start your own business or find a job you love - you need to analyse your personal skills and better know yourself. An adult educator has to help immigrants to analyze what kind of activities would like to do, what kind of job activities are interesting, what kind of personal traits needed for chosen job activity, what kind of strengths, weakness do you have which could be improved. Do you need a certificate, diploma, if it’s possible to validate your foreign diploma? All these questions should be responded with a mission to go further with the career development plan.

As an adult educator, you could provide an explanation of what is personal skills and how it’s important to develop them constantly and suggest assessing personal skills. Personal Assessment Survey will help to find out existed skills, techniques and knowledge. Learning and developing different skills are focused on individual growth and the formation of positive attitudes based on values and goals – mostly immigrants have to develop new language skills as also communication skills based on host country culture. Understanding yourself, listening skills, self-confidence, problem-solving or solution skills, relations skills, time management, taking responsibility, personal motivation and goalsetting skills.

https://www.assessmentsolutions.com/personality-test-step-1/

Interpersonal skills – correlates with your traits and could help successfully searching for a job or creating your own company. Interpersonal skills for immigrants are one of importance and one of the most difficult because of the language barrier. To communicate and develop these skills you as an adult educator could suggest using the beginning non-verbal communication skills. Social situations and building relations depends on openness to use any expression possibilities (explanation with hands, google translator, drawing, using yes/no answers, other techniques). In a new, hosted country, a person don’t know anybody except own family, hosted country language is also not known, that’s why important to communicate and help people to integrate into society at the same time using two methods – new language learning skills with combination to career development skills. Encouragement of a positive and optimistic attitude will help immigrants easier reached their goals. Interpersonal skills are important for immigrants – patience, optimism, active listening, teamwork, motivation, flexibility, communication. Below are described Interpersonal skills.

Picture 1: Interpersonal skills

18 source: https://www.indeed.com/career-advice/resumes-cover-letters/interpersonal-skills

Learning to learn skills is important for all persons but, of course, mostly for adult educators and migrants because one should each time look in a situation and learn how to personalize learning activities and migrants to adapt to new situations and fast to learn a new language and required skills. ‘Learning to learn is the ability to pursue and persist in learning, to organise one's own learning, including through effective management of time and information, both individually and in groups. This competence includes awareness of one's learning process and needs, identifying available opportunities, and the ability to overcome obstacles in order to learn successfully. This competence means gaining, processing and assimilating new knowledge and skills as well as seeking and making use of guidance. Learning to learn engages learners to build on prior learning and life experiences in order to use and apply knowledge and skills in a variety of contexts: at home, at work, in education and in training. Motivation 19 and confidence are crucial to an individual’s competence”. More learning skills 20 are described in this EPALE article where you can discover. The Online Assessment Tools for Self-Evaluation We all want to be happy in our personal and professional lives and to figure out what job we like to do, for that purpose we can use created online assessment tools. Assessment and practical suggestions will help you to find which kind of skills do you need to work on. Adult educators will be introduced with suggestions on how to help immigrants to find a dream job or to establish their own company. There are a lot of different tools to assess skills and we collected the most suitable tools below. We suggest using adult educators Career skills assessment 21 tool to help immigrants to figure out which skills should be developed and explore more about career skills. 22 Read more: About career management skills you can read more https://www.skillsyouneed.com/ps/career-management-skills.html To evaluate your interpersonal skills https://www.skillsyouneed.com/quiz/343479 To evaluate your personal traits https://www.assessmentsolutions.com/personality-test-step-1/

https://www.youthpass.eu/en/youthpass/documentation/action-2/key-competence-learning-to-learn/

https://epale.ec.europa.eu/en/blog/deset-najkorisnijih-cjelozivotnih-vjestina-u-ucenju https://app.career-skills.eu/index.php/en/assessment-tool 22 https://app.career-skills.eu/index.php/en/catalogue 20

10. LEADERSHIP AND TEAM WORKING Introduction: This module allows adult educators and immigrants to have a short summary of competencies that are important for developing entrepreneurship. In this module, you can find explanations on what leadership is, why it is important to develop your own leadership skills, and why it is important to work in a team. How networking skills could help can find practical exercises perfect team worker. The educators and immigrant’s their own business.

to find an idea to establish your own enterprise. You to check your leadership skills, characteristics of a networking benefits explanation will show adult importance of social contacts starting/developing

Purpose: This educational module aim is to provide an understanding of the concept of leadership and how it could be gained/developed.

Learning Outcomes: gaining knowledge about leadership skills developing leadership skills

Develop your skills to achieve your goals!

10.1. Leadership Description of leadership could have different aspects, backgrounds and perceptions. We suggest simplifying leadership understanding for immigrants who want to start their own businesses. Leadership – as a way to see, discover ideas which could help to earn money, create job opportunities for yourself or/and others, activities which bring you into connection with others by example. Leader – is a person who takes responsibility to achieve what is defined (from own wishes, perspectives or accepted norms of what is expected from society/community). Leadership could be understood from three aspects (process, skills, emotional Intelligence). In table 1 these three aspects are demonstrated. You can watch a video about leadership (link below).

Leadership is important first of all to understand how migrants have to lead themselves to reach planned goals. To imagine and know where and what kind of work he/she could do and then begin with engagement and a small steps description.

Table 1. Description of leadership, Ž.Navikienė, 2021

10.1.1. Leader skills Social, public speaking, strategic thinking, building relationships and other soft skills are important for entrepreneurs. Migrants who are always struggling with new contact and communication (new language) skills should be positive and use humour more often to find others non-verbal communication methods that help to keep contacts and build relationships. Do not push and press too much on new language importance but try also to use non-verbal communication if it’s difficult for migrants to use a new language. 23

https://www.youtube.com/watch?v=V3VYtT4Fw2g

A leader always starts to think about how to: develop business idea search people with whom could try an idea search possibilities how to start own business analyze norms, documents, requirements to start own business organize meetings

Motivation and the existence of interpersonal, social skills will help to search for help, advice and build relationships. Each immigrant knows and experienced the importance of resilience. Emotional intelligence as self-awareness and selfregulation will help to overcome the fear of failure.

Resources supporting the content: Suggestion for adult educators/immigrants: to show video explanation https://www.youtube.com/watch?v=61OzhSrgsd8 https://www.youtube.com/watch?v=PWmhl6rzVpM https://www.youtube.com/watch?v=V3VYtT4Fw2g https://www.forbes.com/sites/theyec/2019/07/01/three-ways-to-evaluate-yourleadership-performance/?sh=597db63c5c47 Assignments for participants: Please do predictive assessment and personality assessments to evaluate your leadership skills https://www.optimalthinking.com/business-optimization/leadershipassessment/ https://www.mindtools.com/pages/article/newLDR_50.htm

10.2. Team working skills Working in a team refers to the skills and abilities that enable you to collaborate well with your team members in meetings, projects, debates, and other collaborations. The ability to work in a team is based on the skill of being able to communicate well, be an active listener, and to be both responsible and truthful. In the lifelong learning process and development of different skills, it is important to use skills at the right place and time. For beginning entrepreneurs, it is important to constantly develop teamwork skills to more easily reach goals in life. Team working skills are important not only if you plan to involve in your business more workers but also working with your customers. Main team working skills - communication, collaboration, responsibility, critical thinking, active listening, conflicts management, decision making. All mentioned skills are used for the purpose to work efficiently and to reach common goals. Each group of skills could be developed separately and individually or in the group. Most important to understand and emphasize a key to successful entrepreneurship – to be in the right place, at the right time with the needed competencies (knowledge, experience, skills). Improving teamwork skills can help you both in your career and when seeking new opportunities.

Team working skills based on communication and collaboration skills. Communication skills for immigrants are the biggest barrier, which they are facing. Adult educators should emphasize non-verbal language skills especially when it is not at all or weakly developed a new host country language. The importance of active listening competencies should be revised – when people show signs that they are not only hearing what is said but also giving questions/suggestions.

Teamwork skills improvement: Each job opportunity or business creation required team working skills which could be improved by several simple steps: Evaluate your current skill set and single out areas for improvement Practice teamwork skills with the goal to develop skills that you feel should be improved Ask someone to give you positive critical feedback from which you could learn.

10.3. Time management Time management 24- accountability and responsibility are important for strong organizational skills demonstration in order to set manageable goals for the team and keep others on track to meet their deadlines. Working in a team can be challenging at times, but more often it is an opportunity to discover creative ideas, share different perspectives and experiences, as well as enhance your own skills.

Assignments for participants: Please do assessments to evaluate your time management skills: https://www.skillsyouneed.com/quiz/171436

https://www.herzing.edu/blog/7-important-teamwork-skills-you-need-school-and-your-career

11. WRITTEN, ORAL AND MEDIA COMMUNICATION SKILLS Introduction: Whatever communication takes place is an indispensable phenomenon for human beings. It has an important effect in regulating the relations of individuals with other members of the society in every field of social life, determining the success in the business environment, happiness or unhappiness in the family and social environment. Understanding communication theories, research and practices will cause meaningful changes in your life. Communication principles and practices can solve frictions between friends, family and even internationally. Of course, they have to first be perceived as correct for this. it should be wrong to consider communication as a magic wand, but it's obvious that good communication will prevent many problems and contribute to the answer to the many problems.

Purpose: This module contains basic information about written, oral media communication skills. The information aims to assist the trainer. The target group of the module is adult educators who work with immigrants. Communication is a very important concept for human life. With the diversification of communication tools in today's world, the importance of communication has increased in human life. With its increasing importance, communication is considered an indispensable skill for happy and successful individuals in individual and social life. Since the concept of communication is used in many different areas, specific meanings are attributed to the concept of communication. For this reason, it is almost impossible to make a definition of the concept of communication accepted by everyone, but when it comes to communication, it is often thought of as communication between people and the tools used for this purpose.

Learning Outcomes: Use effective communication techniques to cope with difficult situations Define communication theories and models, learn mechanisms of communication Have knowledge of various ways of communicating in various environments and situations Explain the importance of non-verbal and communication. Identify different types of non-verbal communication. Use the correct non-verbal communication at work

11.1. COMMUNICATION Communication plays an important role in all stages of our lives. Whatever your interests and goals, effective communication skills improve your life and add wealth. Communication provides the benefits listed below. 1. Improves your self-view 2. Improves other people's view of you 3. Increases what you know about human relationships 4. We can learn important life skills 5. Helps you succeed in your professional life 6. Helps you navigate the increasingly different world. Researches show that communication takes a large part of our time in business life and daily life. 2/3 of a person's day passes through communication-based activities. In addition to verbal and written communication, our body movements, facial expressions, the tone of our voice, the distance we put together in our interactions with other people, the things we wear, the way we organize the places we are in are also used as a communication tool. The tone of our voice about the emotional state of ourselves. (Internal Communication)

11.1.1. Communication Types 1-Internal Communication: Communication of the person with himself that the person makes in every moment and every place of his life. The person thinks while communicating with himself; he talks to himself and others. 2-Interpersonal Communication: It is the communication that takes place face-to-face, between two people. This communication takes place in the form of the communication of two people (face to face communication), either physically share the same environment, or by any means of communication between people in different environments.

3-Group communication: Group communication is a kind of communication where two or more people interact and interact with one another.

4-Organizational communication: This communication is that the exchange of knowledge and ideas between the weather of the organization (internal environment) and therefore the external environment so as to make sure that daily activities are dole out and to realize organizational goals.

https://www.youtube.com/watch?v=V3VYtT4Fw2g

5-Mass communication: It reaches an oversized number of viewers and provides communication (newspaper, magazine, television, radio, cinema, video and new communication technologies. There are some factors that affect mass communication. These factors are; lack or lack of qualified staff, not using technology effectively and efficiently, economic problems, not having the ability to create programs in line with public expectations, legal limitations etc.

11.1.2. WAYS OF COMMUNICATION Oral Communication It emerges as a type of communication that everyone has to use in every field of social life and especially in professional life. Face-to-face interviews are set up in a variety of ways, such as telephone interviews, training courses, official talks and compliance programs. The most important element is language. In order to use oral communication correctly; It is necessary to develop in speaking, listening, asking questions and having/giving feedback.

The types and definitions mentioned in our daily lives, in the audio/visual and press organs are as follows: Open session: The type of conversation and discussion in which the experts explain a topic to their audience in terms of their own expertise and express their opinions. Meeting where current, political, social and scientific issues or problems are openly discussed in a way that everyone can watch.

Press conference: The meeting of a competent and interested person with journalists to explain a topic or various topics. Press conferences are usually organized by politicians, sports teams, celebrities, people promoting products, lawyers who want to give information about their cases, in short, people who want to disseminate information about the public.

Briefing: Information or explanation given as a summary in a subject is made for special situations and requires certain preparation. It is generally individual, rarely multi-member speeches. Workshop: Workshop is an applied scientific teaching technique that allows individuals to work, think and learn on a common subject.

Dialogue: Dialogue is speaking of two or more people in works such as games, novels, stories. Forum: A meeting held on a certain subject where the audience can also speak.

Conference: A speech to give the audience information on a subject such as science, art, and literatüre or a Meeting to solve an international problem

11.1.3. NONVERBAL COMMUNICATION Speaking is not the only element sufficient for communication. The primary means of communication is language; however, there are other factors that contribute to communication in sending and receiving the message. Communication includes meanings on the face, eye movements, posture, clothing, and features of the sound. When emotions and thoughts cannot be put into words, a glance, a turn of the head, a gesture, a mimic means more than a thousand words. Non-verbal communication assumes many functions in the communication process. We often use our body as a non-verbal communication medium. People act with their bodies and display behaviours. Our body forms the most basic skeleton of our appearance. We transfer many of the non-verbal communication messages that we want to convey using our bodies. There are also messages that our body transmits while stationary.

Body language Body language is an easier way to express feelings than speaking language. It is difficult to explain in words that you do not like someone. But you can express this very clearly with body language.

Gestures The first gestures come to mind when talking about non-verbal communication. The correct interpretation of the gestures depends on the culture and the context in which it is used. Gestures can be of several types Emblems: These gestures are gestures such as waving hands, raising hands, showing fingers, which are completely clear and evident, expressing a clear meaning in the context used by themselves. Indicators: Laughing, crying, shouting, hushing and facial expressions are indicators that point out the feelings and evaluations of people in communication. Indicators also make sense according to the context in which the relationship exists. Someone crying may be crying with joy. A laughing person may be laughing not from joy but from his nerves. Shouting can be from anger or pain.

11.1.4. WRITTEN COMMUNICATION The type of communication in which messages are transmitted to the other party using written language is called written communication. The means of this communication can be letters, reports, abstracts, articles, minutes, press releases, notes, newspapers, handbooks and brochures, posters, announcements and bulletins, and various written messages sent electronically.

1. The written message can be checked before being put on paper. This ensures fewer errors during written communication. 2. The reader may need to think and reconsider what they read a written text reader review, compare their own lives and experiences, integrate with other text to be read the possibility of data. 3. Since unnecessary details are cleared while creating a written text, the provisions and difficulties that may arise during the understanding are minimized for the other party. 4. Written text is suitable for taking notes in order for the reader to remember and use it where necessary. 5. It gives people the opportunity to write thinking after doing it comprehensively. 6. Written communication ensures that shared emotions, thoughts and opinions are recorded. 7. Written messages are easy to reproduce and spread to a wide range of people.

11.1.5. MEDIA COMMUNICATION Communication media is the way of delivering and receiving data or information. In telecommunication, these ways are transmission and storage tools or channels for data storage and transmission. The communication media acts as a channel for linking various computing devices so they will interact with one another. Contemporary communication media facilitate communication and data exchange among an oversized number of people across long distances via email, teleconferencing, internet forums and plenty of other types of communication.

11.2. EFFECTIVE COMMUNICATION SKILLS Effective communication skills are essential for healthy relationships, whether at home, work or in business or social situations. People are often more inclined to work with you and help you reach your goals if you communicate effectively.

The ability to communicate effectively with managers, clients, colleagues, and staff is essential. People in the digital age must know how to effectively give and receive messages in person as well as via phone, email, and social media. These are some of the top communication skills:

1-Active Listening Active listening involves paying attention to what the opposite person is saying, asking clarifying questions. Being an honest listener is one of the most effective ways to be an honest communicator. 2-Nonverbal Communication Your visual communication, eye contact, hand gestures, and tone of voice all reflect the message you would like to convey. A relaxed, open stance (arms open, legs relaxed), and a friendly tone will cause you to appear approachable and can encourage others to talk openly with you. 3-Clarity and Concision Good verbal communication means saying only enough. Try to convey your message in as few words as possible. Say what you wish clearly and directly, whether you're talking to someone nose to nose, on the phone, or via email.

4-Friendliness Through a friendly tone, a private question, or just a smile, you may encourage your co-workers to interact in open and honest communication with you. it is vital to be polite altogether in your workplace communications.

5-Confidence It is important to be confident in your communications with others. Confidence shows your co-workers that you simply believe what you’re saying and can follow through.

6-Open-Mindedness A good communicator should enter into any conversation with a flexible, open mind. Be open to listening to and understanding the other person's point of view, rather than simply getting your message across.

7- Feedback Being able to give and receive feedback appropriately is an important communication skill.

ACTIVITY TASK1 : Group Exercise — Dos and Don’ts to Avoid Body Language Mistakes With the three groups of learners, discuss what things you should do and what you should not do to avoid mistakes in communication. Every learner should write down a list of these Dos and Don’t and then the results will be discussed within the group.

12. DIGITAL LITERACY Introduction: Digital literacy is the ability of entrepreneurs to adapt to the events of the technology world to be able to utilize media as communication, marketing, analyzing trends, and demand for goods and services. Technology can even increase corporate entrepreneurship, with indications of organizational innovation, self-renewal, new business discovery, and responsiveness. With technology, SMEs can increase the amount of accuracy in innovating, which may ultimately increase the added value of the corporate. states that digital literacy is defined because of the ability to know and use information in various forms from a large range of sources accessed through computer devices. In detail, digital literacy consists of the power to access, manage, integrate, analyze, and evaluate information, build new knowledge, and build and communicate with others to participate effectively.

Purpose: This module has been designed to present entrepreneurs, immigrants, adult learners the chance to enhance their basic understanding of digital literacy and the benefits that they'll adapt their business processes.

Learning Outcomes: After completing this module, learners are going to be ready to ; Understand the definition of digital literacy Have a better understanding of the importance of being digitally literate in entrepreneurship and employability explore how digital literacy enhances their employment prospects

12.1. WHAT IS DIGITAL LITERACY? Digital literacy is often defined as ”the ability to use information and communication technologies to seek out, evaluate, create, and communicate information, requiring both cognitive and technical skills.” With the increasing relevance of technology everywhere on the planet, digital literacy is becoming one of the foremost valuable tools. Being an excellent communicator entails over simply passing information along and attempting to summarize and repeat it; you need to even be aware of the newest tools and technology that improve information delivery efficiency and productivity. Many businesses are adopting digital technology and the most up-to-date solutions to improve their procedures. Understanding information collected in various formats and learning how to use it in productive and secure ways is what digital literacy entails. Knowing how to utilize these tools and understanding how to use them assures that one is digitally literate.

Digital skills are characterized in a variety of ways, indicating that there is a lack of standard vocabulary in this field. Basic abilities in using information and communications technology, or "digital tools," are on one end of the spectrum— for example, being able to turn on a computer, use a mouse, and access the internet.

The next step is to use these tools to complete specific digital tasks, such as drafting an email, creating a résumé, or searching the internet for specific information. These tasks are frequently taught in a specific context—for example, how to use specific software, platform, or application — and have clearly defined processes for completion.

Being able to apply knowledge of how to complete specific digital activities to new conditions, settings, or platforms is a higher degree of basic digital abilities. A person can, for example, use a database to access information or a digital scheduling system to look up his or her hours. At the next level, a person may apply his or her knowledge to retrieve data from various databases or make schedules for others using the scheduling system.

There are degrees of digital literacy. Some people have a broader range of digital knowledge or more experience using their skills.. It makes it easier for someone to transfer digital knowledge across jobs and potentially advance from entrylevel jobs or make occupational changes. Digital literacy is important even where employers provide training on specific digital tasks or systems, as they will assume some level of digital literacy to require advantage of that training.

The importance of digital skills for workers goes beyond rising demand in the workplace. Digital skills are increasingly used in elementary and secondary school classrooms, for banking and shopping, for interactions with the government, for entertainment, and for social connection. And digital skills are increasingly important in searching for a job and attaining new skills.

Digital

literacy

the

ability

entrepreneurs to adapt to the development of the technology world to be able to utilize media as communication, marketing, analyzing trends, and demand for goods and services. Social media is a very important part today as people are always in touch with smartphones. Various applications make it very easy to manage businesses and expand the reach of the online market. Various groups, trending topics, and communities are very important for business entrepreneurs to follow. Such capabilities, developed with web management into e-commerce, supported by big data and coding, are conditions to launch a start-up where technology-based entrepreneurs can communicate and reach the wider market.

Technology also can increase corporate entrepreneurship, with indications of organizational innovation, self-renewal, new business discovery, and responsiveness .With technology, SMEs can increase the extent of accuracy in innovating, which may ultimately increase the added value of the corporate. states that digital literacy is defined because the ability to grasp and use information in various forms from a large range of sources accessed through computer devices. In detail, digital literacy consists of the power to access, manage, integrate, analyze, and evaluate information, build new knowledge, and make and communicate with others to participate effectively.

12.1.1. Main Elements of digital literacy Information search and evaluation; Creation; Communication; Collaboration; Online safety

Picture 1: Digital literacy. Source: https://drjbson.com/projects/dl/,Son, J.-B. (2015).

12.1.2. How can you use digital literacy to benefit your business? The following are a number of the ways you'll be able to use digital technology to produce versatility and efficiency in your business.

In marketing You can use video marketing You can promote your business through online adverts and by creating a website for it. You have the choice of using software to share, update, and amend your marketing strategy together with your team. You can use the facility of email marketing once you start to collect email addresses via the opt-in You can use social media platforms like YouTube, Google+, Instagram, Twitter, Facebook, and Pinterest to market your products and services. You can create blog posts with content associated with your target groups and business.

Productivity You can use a time-tracking software program to keep track of how much time is spent on your website and by whom. You'll gain not only accountability but also productivity and process improvement if you use this type of analysis correctly. You can create digital filing where you can easily find, share, save, and archive all your documents. You will be able to streamline your work operations by using digital dictation. You'll be able to create a well-organized email management system that makes it simple to track and respond to communications in a timely manner.

Customer service You can establish a software that permits your customers to book appointments online at any time of day or night. You can use social media platforms to hold out customer services. You can use online questionnaires and surveys to possess customer feedback. You can establish a web help desk that may handle customer concerns. Providing customers with online live help (chat) will improve their experience and perception of your company

You can set up software that allows your customers to book appointments online!

Banking You can use online budget tracking software to understand and reduce your expenses. You can file your taxes online which is more efficient and supply you time to try and do other activities You can share digital files along with your account or bookkeeper to reinforce your bookkeeping process. By selling your products and services online, you'll be able to create a replacement income stream. You may utilize an internet invoicing solution to chop down on the time it takes to gather money from your consumers.

Telecommunication and mobile working You can use your smartphone to use apps that will synchronize with the cloud so that you can stay connected even when you are mobile You can create a mobile office that will allow you to productively work at any place as long as you can access the internet. You can decide to go paperless in order to save capital spent on storage for your supplies in your office. You can use a remote desktop application to connect the files to the office computer. You can get fax and phone numbers that you can use anywhere as long as you can access the internet.

Learning and collaboration You can support your team and develop your knowledge through online business training. You can share data and files with the cloud system You can schedule and perform teleconference calls with your teams from different areas You can use a team messaging application to speak faster and precisely with everyone in your team. It would be impossible to conduct a face-to-face meeting if you're travelling, but you'll keep everyone within the loop through web conferences or webinars.

ACTIVITY TASK 1 : -Generate your idea of business as a simulation

TASK 2 : -Create a product or service that you are passionate about

TASK 3 : -Design a social media page for marketing your product

DEVELOPING ENTREPRENEURSHIP AND SELF-EMPLOYMENT SKILLS OF IMMIGRANTS

Articles inside

DEVELOPING ENTREPRENEURSHIP AND SELF-EMPLOYMENT SKILLS OF IMMIGRANTS