ENTREPRENEURSHIP Course Frameworks. Course Code: North Dakota Marketing Education State Board for Career and Technical Education
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1 ENTREPRENEURSHIP Course Frameworks Course Code: North Dakota Marketing Education State Board for Career and Technical Education
2 Abbreviated Course Profile Entrepreneurship (04111) Page 1-2 Course Title MIS03 Course # License Code Description Performance Indicators Credit Program of Study Entrepreneurship An instructor must hold the License Code: CTE Marketing Education to be qualified to teach this course. Entrepreneurship, which emphasizes planning and organizational processes integral to the start-up of new ventures, focuses on the continued development of students small businesses. Students complete such tasks as: identifying resources necessary for business operations; developing personnel organizational plans; selecting sources of financing for their new ventures; completing loan applications; preparing pro forma financial statements; developing channelmanagement strategies; identifying key performance indicators; and developing detailed business plans. Communication skills, economics, emotional intelligence, human resources management, information management, marketing-information management, pricing, and product/service management are also addressed. 63 ½ or One credit Entrepreneurship is an advanced course for the Business Administration Program of Study for Marketing Education Grade Level 10-12
3 Abbreviated Course Profile Entrepreneurship (04111) Page 1-3 Week 1 Explain the goals of the Entrepreneurship course Discuss classroom operations and procedures Discuss the purposes of CTSO and its activities Explain the nature of business plans (SM:007, SM LAP 1) (MN) (pp ) Week 2 Explain the nature of business plans (SM:007, SM LAP 1) (MN) [cont d] (pp ) Explain external planning considerations (SM:011) (MN) (pp ) Week 3 Assess the need to use external resources for concept development (EN:012) (ON) (pp ) Describe the nature of business records (NF:001, NF LAP 1) (SP) (pp ) Week 4 Identify industry/economic trends that will impact business activities (IM:363) (MN) (pp ) Describe the nature of taxes (EC:072) (SP) (pp ) Week 5 Describe the economic impact of inflation on business (EC:083) (SP) (pp ) Explain the economic impact of interest-rate fluctuations (EC:084) (SP) (pp ) Week 6 Determine the impact of business cycles of business activities (EC:018, EC LAP 9) (SP) (pp ) Describe small-business opportunities in international trade (EC:066) (SP) (pp ) Week 7 Analyze market needs and opportunities (IM:302) (MN) (pp ) Explain the nature of product/service branding (PM:021, PM LAP 6) (SP) (pp )
4 Abbreviated Course Profile Entrepreneurship (04111) Page 1-4 Week 8 Develop positioning concept for a new product idea (PM:228) (SP) (pp ) Communicate core values of product/service (PM:214) (SP) (pp ) Week 9 Identify product s/service s competitive advantage (PM:246) (SP) (pp ) Explain the nature of corporate branding (PM:206, PM LAP 10) (SP) (pp ) Week 10 Estimate market share (IM:350) (MN) (pp ) Develop channel-management strategies (CM:014) (MN) (pp ) Week 11 Establish pricing objectives (PI:044) (MN) (pp ) Identify strategies for pricing new products (for imitative new products, for innovative new products) (PI:020) (MN) (pp ) Week 12 Select product-mix pricing strategies (product line, option-product, captiveproduct, by-product, product bundle) (PI:021) (MN) (pp ) Determine discounts and allowances that can be used to adjust base prices (PI:022) (MN) (pp ) Week 13 Use psychological pricing to adjust base prices (PI:005) (MN) (pp ) Select promotional pricing strategies used to adjust base prices (PI:023) (MN) (pp ) Week 14 Develop a personnel organizational plan (MN:042) (MN) (pp ) Explain considerations in making the decision to hire staff (EN:018) (ON) (pp )
5 Abbreviated Course Profile Entrepreneurship (04111) Page 1-5 Week 15 Discuss factors that impact human resources management (e.g., availability of qualified employees, alternative staffing methods, employment laws/regulations, company policies/procedures, compensation and benefit programs, staff diversity, etc.) (HR:415) (SP) (pp ) Describe planning techniques used in the hiring process (e.g., succession planning, forecasting, etc.) (HR:416) (SP) (pp ) Week 16 Determine hiring needs (HR:353) (SU) (pp ) Develop job descriptions (HR:495) (MN) (pp ) Week 17 Identify capital resources needed for the venture (EN:020) (ON) (pp ) Establish specifications for selecting hardware/software systems (NF:091) (MN) (pp ) Week 18 Determine venture s information technology needs (NF:012) (MN) (pp ) Semester Exam Week 19 Select vendors (OP:161) (SP) (pp ) Assess the costs/benefits associated with resources (EN:021) (ON) (pp ) Week 20 Use external resources to supplement entrepreneur s expertise (EN:022) (ON) (pp ) Explain the purposes and importance of obtaining business credit (FI:023) (ON) (pp ) Week 21 Determine financing needed to start a business (FI:036) (ON) (pp ) Determine financing needed for business operations (FI:043) (ON) (pp )
6 Abbreviated Course Profile Entrepreneurship (04111) Page 1-6 Week 22 Identify risks associated with obtaining business credit (FI:041) (ON) (pp ) Explain sources of financial assistance (FI:031) (ON) (pp ) Week 23 Describe the nature of income statements (FI:094, FI LAP 4) (SP) (pp ) Develop a pro forma income statement (FI:510) (MN) (pp ) Week 24 Describe the nature of cash flow statements (FI:091, FI LAP 6) (SP) (pp ) Prepare a pro forma cash flow statement (FI:602) (MN) (pp ) Week 25 Explain the nature of balance sheets (FI:093) (SP) (pp ) Prepare a pro forma balance sheet (FI:511) (MN) (pp ) Week 26 Identify and benchmark key performance indicators (e.g., dashboards, scorecards, etc.) (SM:027) (MN) (pp ) Week 27 Develop action plans (SM:012) (ON) (pp ) Week 28 Write executive summaries (CO:091) (SP) (pp ) Develop business plan (SM:013, SM LAP 2) (ON) (pp ) Week 29 Develop business plan (SM:013, SM LAP 2) (ON) [cont d] (pp ) Week 30 Develop business plan (SM:013, SM LAP 2) (ON) [cont d] (pp ) Give elevator pitch (EI:093) (SP) (pp )
7 Abbreviated Course Profile Entrepreneurship (04111) Page 1-7 Week 31 Develop critical banking relationships (FI:039) (ON) (pp ) Explain loan evaluation criteria used by lending institutions (FI:034) (ON) (pp ) Week 32 Complete loan application package (FI:033) (ON) (pp ) Persuade others (EI:012, QS LAP 10) (SP) (pp ) Week 33 Demonstrate negotiation skills (EI:062; QS LAP 3, EI LAP 8) (SP) (pp ) Negotiate lease or purchase of facility (OP:028) (MN) (pp ) Week 34 Explain the nature of risk management (FI:084, FI LAP 8) (SP) (pp ) Obtain insurance coverage (FI:082) (ON) (pp ) Week 35 Describe crucial elements of a quality culture (OP:019) (SP) (pp ) Describe the role of management in the achievement of quality (OP:020) (MN) (pp ) Week 36 Develop strategies to market an organization to potential employees (MK:021) (MN) (pp ) Course Assessment Final Exam
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Managing Cash Flow Pre-Test Locate the Pre- and Post-Test Form at the back of your workbook. Complete the BEFORE Training column to assess your knowledge on this topic before participating in this class.
Where to Turn When Banks Say No? MGI Pagán-Ortiz & Co., CPA, PSC
Where to Turn When Banks Say No? MGI Pagán-Ortiz & Co., CPA, PSC Factoring Definition FACTORING COMPANIES, typically buy a business's accounts receivable at a discount and collect the receivables themselves.