Do you dream of owning your own business? This course can give you a head start in learning about what you’ll need to own and operate a successful business. Students will explore creating a business plan, financing a business, and pricing products and services.
Unit 1: Becoming an Entrepreneur
* Define and understand the role of small business in the economy.
* Compare different types of business ownership.
* Explain why someone would want to be an entrepreneur.
* Evaluate economic measures used to calculate the growth of entrepreneurship.
* Identify different companies and basic principles of risk management.
Unit 2: Options Starting Out
* Explain what a franchise is and the process involved in acquiring one.
* Evaluate the different ways to acquire a business.
* Identify basic risks in business and how to reduce them.
* Define the elements of a business philosophy.
* Develop and recognize the importance of an exit strategy.
Unit 3: Regulation and Global Concerns
* Explain the different types of regulations that apply to businesses.
* Demonstrate an understanding of legal responsibilities of businesses.
* Identify key concepts and relationships in a business environment.
* Describe business considerations when entering the global market.
* Recognize and describe the value of cultural differences in local and global business.
Unit 4: Creating a Business Plan
* Define the elements of a business plan.
* Create a basic business plan.
* Recognize and describe the role marketing plays in business.
* Explain a marketing plan.
* Explain the considerations in the purchasing cycle.
Unit 5: Accounting Basics
* Define types of business funding and assets.
* Explain financial terms and forms.
* Evaluate a profit and loss statement.
* Understand and explain financial reports and projections.
* Project income and expenses.
Unit 6: Getting and Keeping Customers
* Describe the importance of responsible environmental practices.
* Discuss the importance of ethical behavior in the workplace.
* Determine an employer's obligation to create a safe workplace and the agencies that define the standards.
* Explain the many aspects of privacy businesses need to consider.
* Explain the role of human resources.
Unit 7: Pricing and Products
* Describe what customers want in a business.
* Construct a promotional plan.
* Demonstrate basic market-researching skills.
* Evaluate the success of a promotional plan.
* Explain the role of technology in promotions and customer relations management.
Unit 8: Innovation and Growth
* Calculate prices, markup, and discounts.
* Analyze and formulate pricing strategies.
* Recognize and discuss pricing concerns specific to small businesses.
* Develop a credit policy for a business.
* Explain the costs and risks of customers' use of credit.
Unit 9: Business Leadership
* Analyze the factors to consider when planning growth.
* Employ the creative process in formulating business strategies.
* Demonstrate how to meet the needs of a growing organization.
* Identify issues associated with transportation and distribution.
* Defend why failure is an opportunity to learn.
Unit 10: Finding Employment in Entrepreneurship
* Describe the elements and process of product planning.
* Evaluate leadership styles and characteristics.
* Deconstruct the reasons for success of key entrepreneurs.
* Explain why the United States produces so many entrepreneurial leaders.
* Understand how products and services are conceived, planned, maintained, and improved.