Virtual Enterprise COURSE OUTLINE

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1 Virtual Enterprise COURSE OUTLINE 1. Course Title: Virtual enterprise 2. CBEDS Title: Small Business Ownership & Management 3. CBEDS Number: Job Titles: Purchasing Agents Bookkeeping, Accounting, and Auditing Clerks First-Line Supervisors/Managers of Office & Admin. Support 5. Course Description: Virtual Enterprise is a simulated business that is set up and run by students to prepare them for working in a real business environment. Students learn about Economics--micro and macro and its relationship to and impact on business operation in the private enterprise system. The students study supply and demand, the Federal Reserve System, taxation by local, state, and federal governments, business organizations, the stock market, and international transactions. The students determine the nature of their business, its products and services, its management and structure, and learn the daily operations of a business under the guidance of a consultant with the support of a real business partner. They use current business software packages and the Internet for business transactions using Economics as a factor in decision making. Student Outcomes and Objectives: Students will: A. Demonstrate knowledge of the basic concepts used by economics, particularly scarcity, allocation of resources, economic decisions, economic goods, trade-offs, efficiency, price stability, goals of all economic systems. B. Demonstrate an understanding of the basic differences between the different types of economic systems that exist in the world today. Students will demonstrate an understanding of the concept of a mixed economic system. C. Demonstrate knowledge of how market system pricing operates. They should be able to demonstrate how the laws of supply and demand interact to produce prices, which clear the market. They will demonstrate this knowledge through explanatory statements and construction of and reading of graphs and schedules. D. Demonstrate an understanding of how consumers make decisions and what factors in the economic system affect the making of those decisions. E. Demonstrate an understanding of credit and its use in the American economic system and how credit plays a role in the lives of most Americans. F. Gain skills necessary to calculate the cost of credit on typical credit agreements. G Demonstrate knowledge of the basic information for obtaining basic necessities - housing, food, transportation, clothing - and how they will be able to analyze the costs of such basic economic factors in order to make intelligent decisions for themselves. H. Demonstrate an understanding of how businesses are organized and how they function in a market economy. Students will demonstrate an understanding of the role of profit incentive in business growth and its importance in preserving the benefits of competition. I. Demonstrate and understanding of how the banking system works in the American economic system and the role of the Federal Reserve System in stabilizing the value of the dollar within the nation s economy. J. Demonstrate an understanding of how and why government regulates business. K. Students will use technology to produce projects. L. Students will develop an awareness of their own career interests. M. Students will develop employability skills through interviewing, resume building, oral presentations, and teamwork.

2 N. Students will produce a professional portfolio and/or a Web-folio as a useful product for obtaining employment. O. Students will demonstrate critical thinking, organizational, and decision-making skills by developing project proposals, time lines, and final products. P. Students will demonstrate proficiency by using desktop publishing software to create a newsletter and a brochure using imported text and graphics with appropriate page layout and design. Q. Students will demonstrate proficiency by creating a Web site using different applications and appropriate design features. R. Students will demonstrate proficiency by creating multimedia presentations, which include sound, animation and digital photo imaging. S. Students will demonstrate proficiency by sending electronic , threading messages. T. Students will demonstrate proficiency by demonstrating an understanding of computer software, hardware, and terminology. U. Students will demonstrate proficiency by demonstrating an understanding of computer software, hardware, and terminology. V. Students will demonstrate proficiency by exhibiting business-like attitudes in demonstrating punctuality, turning assignments in on time, using class time productively, and making up assignments when absent. W. Students will demonstrate competence in listening to and following oral and written instructions X. Students will demonstrate competence in understanding the ethical nature of on-line communication. Integrated throughout the course are career preparation standards, which include basic academic skills, communication, interpersonal skills, problem solving, workplace safety, technology, and employment literacy. Recommended Sequence Introductory Skill Building Advanced Skill Courses Computer Applications Multi Media & Desktop Publishing Computer Foundations Business Management or Accounting 3, 4 or Business Co-Op or Retail Co-Op Accounting 1 & 2 Entrepreneurship Retail Merchandising Virtual Enterprise 6. Hours: Students receive up to 180 hours of classroom instruction. 7. Prerequisites: Computer Foundations 8. Date (of creation/revision): July 2010

3 9. Course Outline COURSE OUTLINE Upon successful completion of this course, students will be able to demonstrate the following skills necessary for entrylevel employment. Instructional Units and Competencies I. CAREER PREPARATION A. Career Planning and Management. 1. Know the personal qualifications, interests, aptitudes, knowledge, and skills necessary to succeed in careers. a. Students will identify skills needed for job success b. Students will identify the education and experience required for moving along a career ladder. 2. Understand the scope of career opportunities and know the requirements for education, training, and licensure. a. Students will describe how to find a job. b. Students will select two jobs in the field and map out a timeline for completing education and/or licensing requirements. 3. Know the main strategies for self-promotion in the hiring process, such as completing job applications, resume writing, interviewing skills, and preparing a portfolio. a. Students will write and use word processing software to create a resume, cover letters, thank you letters, and job applications. b. Students will participate in mock job interviews. 4. Develop a career plan that is designed to reflect career interests, pathways, and postsecondary options. a. Students will conduct a self assessment and explain how professional qualifications affect career choices. 5. Understand the role and function of professional organizations, industry associations, and organized labor in a productive society. a. Contact two professional organization and identify the steps to become a member. 6. Understand the past, present and future trends that affect careers, such as technological developments and societal trends, and the resulting need for lifelong learning. a. Students will describe careers in the business industry sector. b. Students will identify work-related cultural differences to prepare for a global workplace. B. Technology. 1. Understand past, present and future technological advances as they relate to a chosen pathway and on selected segments of the economy. 2. Understand the use of technological resources to gain access to, manipulate, and produce information, products and services. 3. Use appropriate technology in the chosen career pathway. C. Problem solving and Critical Thinking. 1. Understand the systematic problem-solving models that incorporate input, process, outcome and feedback components, and apply appropriate problem-solving strategies and critical thinking to work-related issues and Course Hours Model Curr. CA Academic Content Standard s 20 Additional hours are integrated throughout the course. Finance & Business Industry Sector, Model Curriculum 3.0, 4.0, 5.0, 6.0, 7.0, 8.0, 9.0, 10.0 Language Arts (8) R 1.3, 2.6 W1.3, 2.5. LC 1.4,1.5, 1.6 LS1.2, 1.3, (9/10) R2.1,2.3,2 W2.5 LC1.4 LS 1.1, 2.3 (11/12) R2.3 W2.5 LC1.2 Math (7) NS1.2, 1.7 MR 1.1, ,2.8, 3.1 CAHSEE Lang. Arts R (9/10) R 2.1, 2.3 W2.5 Math (7) NS 1.2, 1.3, 1.7 MR 1.1, 2.1, 3.1

4 tasks. 2. Use and apply critical thinking and decision making skills to make informed decisions, solve problems, and achieve balance in the multiple roles of personal, home, work and community life. D. Health and Safety. 1. Know policies, procedures, and regulations regarding health and safety in the workplace, including employers and employees responsibilities. 2. Understand critical elements of health and safety practices related to a variety of business environments. E. Responsibility & Flexibility. 1. Understand the qualities and behaviors that constitute a positive and professional work demeanor. 2. Understand the importance of accountability and responsibility in fulfilling personal, community, and workplace roles and how individual actions can affect the larger community. 3. Understand the need to adapt to varied roles and responsibilities. F. Ethics and Legal Responsibilities 1. Know the major local, district, state, and federal regulatory agencies and entities that affect the industry and how they enforce laws and regulations. 2. Understand the concept and application of ethical and legal behavior consistent with workplace standards. a. Contact a business and obtain a copy of their rules for employment. b. Role play difference ethical scenarios. 3. Understand the role of personal integrity and ethical behavior in the workplace. G. Leadership and Teamwork. 1. Understand the characteristics and benefits of teamwork, leadership, citizenship in the school, community, and workplace settings for effective performance and attainment of goals. 2. Understand the ways in which professional associations, such as FBLA and competitive career development activities enhance academic skills, career choices, and contribute to promote employability. 4. Know multiple approaches to personal conflict resolution and understand how to interact with others in ways that demonstrate respect for individual and cultural differences and for the attitudes and feelings of others.

5 Instructional Units and Competencies 1. Introduction to fundamental economic concepts- Economic choices, the nature of the subject area, the challenge of scarcity, the need for trade-off, opportunity costs, economic goals, efficiency, price stability, full employment, growth and socio-economic goals. (5 2. Economic systems- What constitutes an economic system, different types of economic systems (market, command, traditional)? How do economic systems resolve the basic economic questions? (5 3. Free Enterprise System- Basic laws of supply and demand, and forces, which interact to establish prices. (5 4. Organizing a Business- Basic form of business organizations. Process of starting a business (risk taking, corporate organization, sources of funds for business firms, financial structure of a business) (25 a. Defining Departments b. Writing Job Descriptions c. Writing a Business Plan d. Interviewing for Jobs e. Using the Internet for business activities 5. Income and Consumption- The role of the consumer in the economy, personal finance (maintaining a budget, bank accounts, consumer credit, stock market, and maintaining investments.) (5 6. Money and Financial Institutions-bank services mediums of exchange, role of the Federal Reserve System, money supply, inflation, and international exchange rates. (5 7. Saving and investing-an overview of how saving and investing helps the individual. Various savings and investing plans, which are open to small and medium investors. (5 8. Market structure-competition markets and monopolistic markets. Government regulation of business to preserve competition and protect consumers. (5 9. The role of the labor force in the American economy- Unions trends regarding unions, wages, collective bargaining, and labor laws. (5 10. International trade-the benefits of foreign trade. How foreign trade works? What causes the value of the dollar to go up and down internationally? Participation effectively as a consumer and businessperson in the global economy. (5 Hours Model Curr Mktg, Sales & Svc. Ind. Sector Foundation 4.0, 4.1, 4.2, 4.4 Entrepreneur B1.2, B1.4, B1.7, B5.1, B5.2, B5.3, B5.5, B5.6 Int l Trade C1.1, C1.2, C1.5, C2.1, C2.2, C2.6 Fin. & Bus. Ind. Sector Acctg. Svcs. A1.4, A2.6 CA Academic E 1.2, 1.3, 1.4, 2.1, 2.2, 3.1, 3.3, 3.4, 3.7, 3.6, 5.2, 6.1, 6.2, 6.3, 7.1, 8.1, 10.1,10.2, 10.3, 1.04, 11.1, 11.2 M(8-12) 13.0, 15.0 S(9-12) 1.2(1.a) R(9-10) (2.1), (2.6) R(11-12) 2.3 W(11-12) (1.3), (1.6) (1.9), (2.5), (2.6) CAHSEE (7) NS1.2,.3,.6,.7 (6(P3.5 (7)MR2.1 (10)WA1. 1,.2; (8)R2.1 (10)R2.1,.5; (10)WS1. 2,.9; 11. Working with spreadsheets-creating worksheets, writing formulas, reports, learning worksheet enhancements. (5

6 12. Working with word processing and desktop publishing documents-letters, table s graphics, catalogs memorandums, business forms, and templates. ( Working with the Internet-using search engines, , creating web pages, and business transactions. ( Working with presentations-creating slide shows and presentations, using text, graphics, charts, animation, digital photo imaging, audio, and scanning. ( Working with databases - designing, editing, maintaining, and producing reports. (5 16. Working with a personal information manager-calendar, , journal, contacts, notes, and tasks. (5 17. Business Etiquette-professional ethics, international etiquette standards, phone etiquette, teamwork, and appropriate dress in the workplace. (5 18. Establishing accounting department procedures-payroll, accounts receivable/payable, financial statements, operating costs, start-up costs, and budgets. ( Establishing human resources department responsibilities-organizational chart, assessment of personnel, employee manual, and employee relations. ( Establishing marketing department responsibilities - advertising, market research, logos, promotional designs, and preparation of a catalog. ( Establishing administration department responsibilitiescompany directory, purchasing budget for departments, workflow, business plan, office layout, correspondence, and creating a web site. ( Establishing sales/purchases department responsibilities-international trade research, consumer needs, competition, procedure for acquiring clients, and determining prices. (10

7 10. Additional recommended/optional items a. Articulation: None b. Academic credit: None c. Instructional strategies: Methods of Instruction: a. Lecture b. Audio Visual Materials c. Research Readings and Written Presentations d. Homework Assignments e. Group & Individual Projects f. Discussion & Group Dynamics g. Quizzes, Tests, Performance Evaluations & Final Exam h. Guest Speakers & Projects i. Internet Exploration j. Extended Simulations d. Instructional materials: Understanding Business; QuickBooks e. Certificates: None

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