- 1.1 Discuss the importance of entrepreneurs to economic prosperity.
- 1.2 Explain why the United States is an ideal environment for starting a business.
- 1.3 Describe the characteristics of entrepreneurs, and list the common reasons why they choose to start their own business.
- 1.4 Evaluate an individual’s readiness to start a business.
- 1.5 Discuss the reasons for common shortcomings that can lead to the failure of a business.
- 1.6 List the various components of a business plan.
Entrepreneurship
This course offers a fundamental study of the issues, concerns, and procedures of planning and operating small businesses. This course is designed to introduce the student to the fundamentals of planning and operating a small business.
Learning Objectives/
- 2.1 Describe the necessary information contained within a business model.
- 2.2 Define corporate strategy and explain its purpose.
- 2.3 Define business strategy and explain its purpose.
- 2.4 Create a SWOT analysis.
- 2.5 Summarize the method for evaluating opportunities.
- 3.1 List and describe the main components of an income statement.
- 3.2 List and describe the main components of a balance sheet.
- 3.3 List and describe the main components of a statement of cash flows.
- 3.4 Discuss the key financial ratios used to assess profitability.
- 3.5 Describe how Net Present Value can aid in calculating the value of a business.
- 3.6 Demonstrate how to create a start-up capital budget, and explain the sources of funds for start-up capital.
- 4.1 Explain the importance of operations and supply chain management.
- 4.2 Develop the production strategy you will use as part of your business plan.
- 4.3 Define production planning and explain its benefits.
- 4.4 Summarize the methods for maintaining product quality.
- 4.5 List the positive and negative outcomes of outsourcing.
- 5.1 Explain the importance of having a management information system.
- 5.2 Define cloud computing and explain its use in a business.
- 5.3 Define e-commerce and explain its use in a business.
- 5.4 Define enterprise resource planning and explain its use in a business.
- 5.5 Explain what a virtual company is and summarize its purpose.
- 5.6 Define privacy policy and explain its purpose in a business.
- 6.1 Discuss how consumers make buying decisions.
- 6.2 Discuss how businesses make buying decisions.
- 6.3 Explain how to identify customers—either consumers or businesses.
- 6.4 Create a marketing plan you will use as part of your business plan.
- 6.5 List and describe the major marketing strategies used to grow revenue.
- 7.1 Identify the role of advertising in entrepreneurship.
- 7.2 Outline the steps for developing an advertising budget.
- 7.3 Outline the steps for developing an advertising strategy.
- 7.4 Recognize the advantages and disadvantages of using advertising agencies.
- 7.5 Discuss the right and wrong ways to advertise on the Internet.
- 8.1 Identify the buying process that businesses should follow.
- 8.2 Define prospecting and explain its purpose.
- 8.3 Describe what a sales call is and explain its purpose.
- 8.4 Summarize the purpose of a sales proposal and list its components.
- 8.5 Develop a sales plan you will use as part of your business plan.
- 9.1 Identify when a business should hire employees.
- 9.2 Describe how to write a job description correctly.
- 9.3 Explain the process for hiring new employees.
- 9.4 Summarize the steps for training new employees.
- 9.5 Describe the main aspects of employment law.
- 10.1 Describe the key characteristics of civil law.
- 10.2 Define tort and its impact on business.
- 10.3 List and describe the components of a contract.
- 10.4 Describe what defamation is and how it affects business.
- 10.5 Define intellectual property and describe its importance.
- 11.1 Define sole proprietorship and explain its implications for business.
- 11.2 Describe general partnerships and their legal implications.
- 11.3 Explain the business structure of a limited liability corporation.
- 11.4 Explain the business structure of a corporation.
- 11.5 Describe the purpose and duties of a board of directors.
- 11.6 Outline the ownership and corporate governance model as part of your business plan.
- 12.1 Define franchising and explain its purpose.
- 12.2 List and describe the various types of franchises.
- 12.3 Summarize the advantages for franchisor and franchisee in a franchise model.
- 12.4 Summarize the disadvantages for franchisor and franchisee in a franchise model.
- 12.5 Describe the purpose and importance of a franchise contract.
- 13.1 Describe the advantages and disadvantages of a family business.
- 13.2 Identify the unique culture of a family business.
- 13.3 List and summarize the roles within a family business.
- 13.4 Explain the importance of professional management in a family business.
- 13.5 Outline the typical leadership succession process in a family business.
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