Entrepreneurship

Business Concepts1

  • 1

    Describe the roles of business in society, types of businesses, and their activities.1.1

  • 2

    Explain the need for business operations and procedures.1.2

  • 3

    Analyze issues and trends in business1.3

  • 4

    Investigate crucial elements of a quality culture/continuous quality improvement1.4

  • 5

    Summarize the concept of management1.5

  • 6

    Evaluate the relationship and impact between government and businesses1.6

  • 7

    Describe types of market structures1.7

  • 8

    Explain the concepts of private enterprise and competition1.8

  • 9

    Analyze the impact of small business/entrepreneurship on market economies1.9

  • 10

    Economics1.10

  • 11

    Describe the nature of economics and economic activities1.11

  • 12

    Distinguish between economic goods and services1.12

  • 13

    Evaluate the effect of scarcity1.13

  • 14

    Analyze the pros and cons of opportunity costs1.14

  • 15

    Identify forms of economic utility1.15

  • 16

    Evaluate the concept of price based on supply and demand1.16

Economics2

  • 1

    Describe the nature of economics and economic activities2.1

  • 2

    Distinguish between economic goods and services2.2

  • 3

    Evaluate the effect of scarcity2.3

  • 4

    Analyze the pros and cons of opportunity costs2.4

  • 5

    Identify forms of economic utility2.5

  • 6

    Evaluate the concept of price based on supply and demand2.6

Communication Skills3

  • 1

    Analyze the nature of effective communications3.1

  • 2

    Demonstrate effective listening skills including empathy for others3.2

  • 3

    Analyze the nature of effective verbal communication3.3

  • 4

    Design and deliver l presentations3.4

  • 5

    Analyze the nature of stress management3.5

  • 6

    Demonstrate use of professional written communication including proper grammar and vocabulary3.6

  • 7

    Identify types of staff communication (e.g., staff meetings, emails, one-on-one, water cooler)3.7

  • 8

    Provide verbal directions for completing tasks3.8

  • 9

    Discuss networking techniques (e.g., person to person, social media, community)3.9

Entrepreneurship Skills4

  • 1

    Determine feasibility of ideas4.1

  • 2

    Compare and contrast entrepreneurial planning considerations and tools4.2

  • 3

    Assess start-up requirements and risks4.3

  • 4

    Discover external resources useful to entrepreneurs during concept development4.4

  • 5

    Complete and discuss a personality assessment to determine entrepreneurial traits4.5

  • 6

    Assess global trends and opportunities4.6

  • 7

    Analyze the effects of culture in entrepreneurship4.7

Ethics, Legal Intellectual Property, & Risk Management5

  • 1

    Analyze the need for and impact of ethical business practices5.1

  • 2

    Identify the types of business risk and the factors affecting those risks5.2

  • 3

    Identify and discuss controls to prevent embezzlement/theft5.3

  • 4

    Analyze strategies to protect computer (digital) data5.4

  • 5

    Research legal issues affecting businesses5.5

  • 6

    Compare and contrast methods of protecting intellectual property rights5.6

  • 7

    Identify types of business ownership and their legal requirements5.7

  • 8

    Research legal documents for business operations5.8

Market Research6

  • 1

    Conduct an environmental scan (i.e., SWOT) to obtain marketing information6.1

  • 2

    Identify methods to develop a product/service idea (e.g., brainstorming, reverse brainstorming).6.2

  • 3

    Create product name and brand/image6.3

  • 4

    Determine unique selling proposition and added value6.4

  • 5

    Develop strategies to position product/service6.5

  • 6

    Research initial feasibility of product/service ideas6.6

  • 7

    Conduct focus group or survey for feasibility of product/service ideas6.7

  • 8

    Evaluate the research data6.8

Financial Statements7

  • 1

    Examine sources of financial assistance (internal and external)7.1

  • 2

    Evaluate the purposes and importance of obtaining business credit/business loans7.2

  • 3

    Develop a budget7.3

  • 4

    Prepare estimated/projected income statement7.4

  • 5

    Prepare and determine cash-flow7.5

  • 6

    Prepare estimated/projected balance sheet7.6

  • 7

    Interpret financial statements7.7

Marketing Management Promotion8

  • 1

    Conduct SWOT analysis8.1

  • 2

    Develop marketing plan8.2

  • 3

    Describe the elements of the promotional mix8.3

  • 4

    Calculate advertising media cost (select advertising media and prepare promotional budget)8.4

  • 5

    Develop promotional plan including digital media8.5

  • 6

    Develop a public relations strategy (publicity, public service announcement, news release, etc.)8.6

Production/Operational Management9

  • 1

    Evaluate the role of management in the achievement of quality9.1

  • 2

    Explain the factors of production9.2

  • 3

    Develop business systems and procedures (e.g., employee handbook sections, policies and procedures, buying/purchasing policies)9.3

  • 4

    Analyze quality improvement techniques9.4

  • 5

    Evaluate productivity of resources (e.g., sustainability, environmental)9.5

  • 6

    Determine the credibility of buyers and vendors9.6

  • 7

    Develop a schedule for staff9.7

  • 8

    Evaluate distribution channels and logistics9.8

  • 9

    Create an inventory of products/supplies (e.g., shipping/receiving, damaged goods, reorder points)9.9

  • 10

    Develop order-fulfillment processes9.10

Management10

  • 1

    Evaluate and identify management/ leadership styles.10.1

  • 2

    Develop a shared vision (e.g., create a mission/vision statement, persuade others)10.2

  • 3

    Utilize effective leadership skills (e.g., problem solving, organizing work, creativity, time management, team building, delegating, handle employee complaints/grievances, recognize/reward employees, soft skills, set personal goals).10.3

  • 4

    Utilize principles of human resource management (e.g., determine hiring needs, recruit, interview, and hire new employees, screen job applications/resumes, negotiate compensation plans, dismiss/fire employee, orient new employee, develop job descriptions, conduct exit interviews, explain the rights or workers)10.4

  • 5

    Evaluate and develop an organizational structure/chart10.5

  • 6

    Evaluate organizational cultures (including employee morale and cultural sensitivity).10.6

Frequently asked questions

What grade levels do these standards cover?
Grade 9, Grade 10, Grade 11, and Grade 12
Where can I read the official document?
2022Enterpreneurship