Common Planner
K–12 Standards

Business & Entrepreneurship Practicum

Other Tennessee CTE sets

A student will have a Personalized Learning Plan that identifies their long-term goals, demonstrates how the Work-Based Learning (WBL) experience aligns with their elective focus and/or high school plan of study, addresses how the student plans to meet and demonstrate the course standards, and addresses employability skill attainment in the following areas:1

  • a

    Application of academic and technical knowledge and skills (embedded in course standards)1.a

  • b

    Career knowledge and navigation skills1.b

  • c

    21st Century learning and innovation skills1.c

  • d

    Personal and social skills 1.d

Launching a Career in Business

  • 2

    Research a small business or business venture in an industry/market/location of choice, including but not limited to the local region. Produce an in-depth profile, case study, or similar analysis of the chosen company. Companies could range from local businesses to web startups to expansions of existing businesses into new products or markets. Cite specific textual evidence from the company’s literature, conduct interviews, and/or analyze press coverage (if available) to summarize the following:2

    1. a

      The mission and history of the organization2.a

    2. b

      Headquarters and organizational structure2.b

    3. c

      Products or services provided2.c

    4. d

      Marketing/branding strategy2.d

    5. e

      Human resource development2.e

    6. f

      Profit model2.f

    7. g

      Website and contact information2.g

  • 3

    Complete an authentic job application as part of a career search or work-based learning experience. Participate in a mock interview. Prior to the interview, update a personal resume, research tips on dress and grooming, most commonly asked interview questions, appropriate conduct during an interview, and recommended follow-up procedure. Upon completion of the interview, write a thank you letter to the interviewer in a written or email format. 3

  • 4

    Investigate the current climate for entrepreneurship and business acquisition in the U.S. and abroad. Synthesizing the most recent information on interest rates, consumer spending, market competition, regulation, investment activity, and other economic data, identify the potential constraints and opportunities for starting a business in a selected market of interest. Draw conclusions based on the research and compile into a memo, executive summary, or mock proposal highlighting where to compete, how much to invest, and which consumers to target.  4

Market Research 

  • 5

    Independently or in teams, conduct a market research project to determine the viability of an original business idea or the recommendations to improve the marketing activities of an existing business. Demonstrate the ability to design simple surveys, retrieve secondary data from print and online sources, tabulate results, write analyses, and make decisions based on evidence. If possible, consult or collaborate with local area professionals to determine the viability of original business ideas. Compile findings and future directions in a professional print or online document.5

Business Proposal

  • 6

    Building on standards from Entrepreneurship and Business Management, individually or in teams, develop a new or modify an existing business plan for the proposed startup/business venture. Include at minimum the following components: 6

    1. a

      Executive summary 6.a

    2. b

      Business description6.b

    3. c

      Plan of operations, including human capital considerations6.c

    4. d

      Industry analysis6.d

    5. e

      Competitor analysis6.e

    6. f

      Marketing plan 6.f

    7. g

      Financial plan6.g

    8. h

      Any relevant appendices, cover sheets, letters of support, or references 6.h

  • 7

    In preparation for the launch of the new business/venture, identify potential mentors and sources of support in the community (both financial and in-kind services), such as clients, customers, funders, grant-making entities, or community organizations. Practice pitching the business idea to mentors and various audiences. Seek feedback and recommendations on presentation and proposal details. Analyze the feedback and recommendations to justify any changes to the business plan, citing evidence from the initial presentation. Upon revision, revise the business plan, documenting all changes made.7

  • 8

    Based on the research and revisions conducted in the previous standard, develop and deliver a formal presentation as part of a bid for startup capital, investors, or public backing. The presentation could be delivered in a variety of formats depending on capacity and constraints: for example, as an in-person pitch before an audience of potential funders; or as a video recording uploaded to a website such as Kickstarter. Self-reflect on initial success based on feedback from the audience or pledges of support, depending on approach. 8

  • 9

    As a supplement to the formal presentation, conduct a preliminary break-even/profit-loss analysis for the first year of the startup’s operations or a business acquisition. Determine the long-term financial goals of the company; make projections for 1, 5, and 10 years ahead. Drawing on knowledge and skills learned in previous courses, design metrics for tracking financial goals and develop an internal reporting system for monitoring progress.9

  • 10

    Expanding on the marketing strategy drafted in the revised business plan, conduct the necessary analysis (i.e., produce a target customer profile, release a survey, etc.) and implement the marketing strategy in line with plan goals. Seek avenues for increasing product/service visibility, such as promoting the company on social media, partnering with another business in a promotional tie-in or cross-selling activity, sponsoring a non-profit event or offering incentives such as samples, games prizes, and loyalty programs.10

  • 11

    Critique the business plan of another team or classmate, annotating the plan with recommendations and suggested edits. Cite specific examples in the text to support recommendations.11

Professional Ethics and Legal Responsibilities

  • 12

    Reflect on potential ethical and legal challenges associated with the proposed business idea. For example, for a hypothetical clothing line startup that intends to source materials from overseas, determine how the company will ensure that labor laws are followed at all points along the supply chain. Examine a variety of perspectives surrounding the issue(s) then develop an original analysis explaining the impact of the issue on those involved, using persuasive language and citing evidence from the research. Other potential issues include copyright infringement, customer privacy and data usage concerns, and safety of employees and consumers.12

Portfolio

  • 13

    Create a portfolio, or similar collection of work, that illustrates mastery of skills and knowledge outlined in the previous courses and applied in the practicum. The portfolio should reflect thoughtful assessment and evaluation of the progression of work involving the application of steps of the entrepreneurial or business acquisition process. The following documents will reside in the student’s portfolio: 13

    1. a

      Career and professional development plan13.a

    2. b

      Resume13.b

    3. c

      List of responsibilities undertaken through the course13.c

    4. d

      Examples of business plan and supporting materials developed and used during the course13.d

    5. e

      Sources of support, including mentors, financial, in-kind, and other13.e

    6. f

      Description of technology used, with examples if appropriate13.f

    7. g

      Periodic journal entries reflecting on tasks and activities13.g

    8. h

      Feedback from instructor and/or supervisor based on observations 13.h

Communication of Project Results 

  • 14

    Upon completion of the practicum, develop a technology-enhanced presentation showcasing highlights, challenges, and lessons learned from the experience. The presentation should be delivered orally, but supported by relevant graphic illustrations, such as sample survey results, excerpts from the business plan or market data on the target users. Prepare the presentation in a format that could be presented to both a business and a lay audience. Seek opportunities to submit the business plan and/or presentation to local or national contests, career and technical student organization (CTSO) competitive events, or other opportunities to increase the potential for success of the business idea. 14

Frequently asked questions

What grade levels do these standards cover?
Grade 11 and Grade 12
Where can I read the official document?
Business & Entrepreneurship Practicum

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