NESHAMINY SCHOOL DISTRICT LANGHORNE, PENNSYLVANIA Course Title ENTREPRENEURSHIP and INNOVATION
Month: September / October Essential Question: How do successful entrepreneurs recognize business opportunities and are these entrepreneurial traits innate or a product of education and work experience? Unit 1 Initial Phase Concept of Entrepreneurship and Role of the Entrepreneur Advantages and risks associated with entrepreneurship Research, define and illustrate entrepreneurship using published data and celebrated entrepreneurial stories. BCIT 15.5.12.C Articulate the advantages and risks using online resources, textbook and prior knowledge through cooperative small group activity BCIT 15.5.12.A Classwork exercises will be submitted and evaluated through Google Classroom Cooperative activity utilizes Google tools accompanied with oral presentations and assessed with rubric Characteristics of a successful entrepreneur Financial and Non-financial goal setting Critique a self-evaluation of entrepreneurial traits BCIT 15.5.12.A, 15.5.12B Hypothesize entrepreneurial characteristics and defend the hypothesis with documented entrepreneurs BCIT 15.5.12.A, 15.5.12B Contrast financial and non-financial goal setting Formative assessments Visual monitoring by Summative assessment (unit test) Unit 2 Opportunity Recognition & Pursuit Sources for entrepreneurial ideas and recognizing opportunity Interpret and model creative thinking skills Flexibility of thought Left brain / right brain Brainstorming Look at trends / product mistakes Mind mapping Cooperative activities include all students in creative thinking exercises where they will be informally assessed with visual monitoring and guidance by.
Month: October Essential Question: How can governmental regulation, liability, fiscal responsibility and personal goals affect the type of ownership for entrepreneurial ventures? Selecting a type of ownership Advantages and disadvantages of ownership types Sole proprietorship General partnership Limited partnership S-corp C-corp Limited Liability Company, LLC Franchising What is a franchise? Advantages and disadvantages Researching and buying a franchise Who is the entrepreneur the franchisor or the franchisee? Family Business Buying an Existing Business Define each type of ownership using cooperative activity BCIT 15.5.12.E Determine Name, Type of Ownership and Purpose of a start-up business that will evolve into the Student Business Plan Project. BCIT 15.5.12.E Compare and contrast the advantages and disadvantages among all types of ownerships BCIT 15.5.12.E, 15.5.12.F Using the Internet, explore the alternatives available for registering a business BCIT 15.5.12.F Create a partnership agreement with at least one other student for a fictitious business List advantages and disadvantages of entering into a franchise agreement. BCIT 15.5.12.E, 15.5.12.F Using the Internet, research franchise opportunities to estimate start-up costs and fees commonly associated with franchising. Cooperative activity informally assessed when students give oral presentations Classwork exercises will be submitted and evaluated through Google Classroom Partnership agreements will be collected and graded Visual monitoring by Formative assessments Summative assessment (unit test) Vocabulary for Type of Ownership unit Outline the advantages and disadvantages of family businesses and buying existing businesses. Define and recall vocabulary terms
Month: November Essential Question: Why is an entrepreneur who writes a business plan prior to creating a company, two and a half times more likely to follow through with a business? Unit 3 - Understanding the Business Plan The purpose and components of a business plan. Executive summary Company description Marketing plan Managerial plan Financial plan Appendix Exposure to actual business plans and sources for writing assistance Student Business Plan Project (also labeled Transfer Task) Examine multiple business plans from online resources, plus examples of student business plans distributed by. BCIT 15.5.12.D, 15.5.12.L Distinguish the essential components of a business plan and recognize its importance BCIT 15.5.12.D, 15.5.12.L Compare and contrast business plan formats and outline sources for writing assistance. BCIT 15.5.12.D, 15.5.12.L Visual monitoring by Writing assessments collected and graded, (Transfer Task). Summative assessment (unit test) Compose the company description segment of a new business plan using worksheets, notes and applied knowledge. This is the student business plan project (Transfer Task). BCIT 15.5.12.D, 15.5.12.L
Month: December Unit 4 Analyzing Markets & Competitors Marketing Mix product, place, price and promotion Methods to Identify Competition The value and types of Market Research Vocabulary for Marketing Unit Define marketing mix and outline promotional strategies, pricing strategies and channels of distribution and product mix. BCIT 15.5.12.H Interpret competitive grids and realize the benefit to analyzing competition. Compare and contrast direct and indirect competition. Differentiate primary and secondary market research Recognize the need for target markets, demographics and market niches. BCIT 15.5.12.H Visual monitoring by Formative assessments. Classwork exercises will be submitted and evaluated through Google Classroom Summative assessment ( unit test) Connect marketing strategies to actual businesses, their products and successful campaign methods. Student Business Plan Project (Transfer Task). Define and recall vocabulary terms. Give examples of marketing strategies that were successfully used by companies in business, past and present. BCIT 15.5.12.H Formulate a marketing plan for the Student Business Plan Project, (Transfer Task). BCIT 15.5.12.D, 15.5.12.L Writing assessments collected and graded, (Transfer Task).
Month: December Unit 5 - Protecting Your Business Safeguarding intellectual property through Trademarks Copyrights Patents Trade secrets Essential Insurance coverage Illustrate the appropriate ways to protect a business using trademarks, copyrights, patents and trade secrets. BCIT 15.5.12.K Define vocabulary Research famous litigation involving intellectual property disputes and present the group s findings to class. BCIT 15.5.12.K Locate available Internet sources that assist in registering intellectual property BCIT 15.5.12.K Visually monitor cooperative activities and evaluate oral presentations created using Google tools Formative assessments Recommend the various types of insurance that will provide sufficient coverage to reduce or eliminate risk for a business.
Month: January Unit 6 Using Technology History of E-Commerce Website development for entrepreneurs Benefiting from a web presence and social media Cyber Crime Mid-Term Assessment Units 1 through 6 Research and define E-commerce. Illustrate the development of e-commerce using a timeline. Categorize information that is essential to any business website. Flowchart a navigation of student s website for proposed business. Include in business plan. BCIT 15.5.12.J Articulate the benefits associated with conducting business online BCIT 15.5.12.J BCIT 15.5.12.K Research the Supreme Court Quill Decision of 1992 and determine if legislation for online sales tax has changed. Write an opinion to defend the federal government s position or offer an opinion outlining alternative guidelines for online sales tax collection. BCIT 15.5.12.J, BCIT 15.5.12.K Using the Internet, compile data on the severity and frequency of cybercrime BCIT 15.5.12.J Paraphrase cyber crime vocabulary Refer to skills entries from units 1 through 6 Visually monitor cooperative activities and evaluate oral presentations created using Google tools Formative assessments. Classwork exercises will be submitted and evaluated through Google Classroom Summative assessment ( unit test) Concepts will be identified and reinforced with applications and reviewed with cooperative activities. Students have access to all notes through Google Classroom. Summative assessment will be formally graded.
Month: February Unit 7 - Preparing the Financial Plan Determine the costs commonly incurred when Estimating start-up costs starting a business and further categorize expenses into fixed and variable. Operational Expenses Sources and types of funding common to entrepreneurs Vocabulary for Financial Unit Financial Statements Balance sheet Cash flow statement Income statement Analyzing financial statements to guide business strategy Explain the advantages and disadvantages of primary sources of borrowing BCIT 15.5.12.M Examine more unconventional options for funding, such as crowdfunding, person-toperson lending and micro-lending. BCIT 15.5.12.M Contrast debt and equity financing BCIT 15.5.12.M State the role a business plan has in obtaining financing BCIT 15.5.12.M Define and recall vocabulary common to financial reporting Create balance sheets, cash flow statements and income statements for initiated scenarios. Recognize the intended purpose of each financial statement. Classwork exercises will be submitted and evaluated through Google Classroom Visually monitor student activities Formative assessments Summative assessment (unit test)
Discuss alternatives to solving cash flow problems factors affecting profit/loss the influences of a market economy on individual businesses and their financial strategies Student Business Plan Project (Transfer Task). Formulate a financial plan for the Student Business Plan Project, (Transfer Task). Project cash needs by estimating startup costs Using Excel templates create a cash flow statement, an income statement and a balance sheet. Summarize projected financial data and long-term goals. BCIT 15.5.12.D, 15.5.12.L Writing assessments collected and graded, (Transfer Task).
Month: February / March Essential Question: Aside from monetary compensation, what methods can be used to motivate staff in an entrepreneurial setting? Unit 8 - Management Hiring and Managing a staff The role of compensation and benefits when hiring Managing and Motivational Strategies Sequence the steps of hiring: from identifying staffing needs to making an offer. BCIT 15.5.12.I Recognize alternatives to full-time employees and the benefits of outsourcing BCIT 15.5.12.I Freelancers Temporary workers/agencies Interns Outline the types of pay and illustrate each method with mathematical formulas Wage, salary, commission and combination plan Describe benefits portion of a compensation package and label benefits as optional for the business owner or required by law. Distinguish the implications of using extrinsic and intrinsic rewards as motivational strategy for employees BCIT 15.5.12.I Formative assessments Classwork exercises will be submitted and evaluated through Google Classroom Visually monitor cooperative activities Informally evaluate student recall with an oral questioning that is directed.
Interpret the importance of delegation for the entrepreneur BCIT 15.5.12.I Connect creativity, innovation and profitability with employees working in groups or teams. BCIT 15.5.12.I Visually monitor cooperative activities that model leadership roles in groups Informally evaluate student discussion that is driven. Are Leaders Born or Taught? Characteristics of Effective Leaders Leadership Managing Styles Cite innovative businesses and their philosophies on teamwork and creativity. Show research that examines if successful leadership ability is innate or developed through experience and education. BCIT 15.5.12.I Identify the common characteristics of effective leaders BCIT 15.5.12.I Recognize the importance of good listening skills, employee training and employee evaluation procedures. BCIT 15.5.12.I Summative assessment ( unit test) Student Business Plan Project (Transfer Task). Formulate a managerial plan for the Student Business Plan Project, (Transfer Task). BCIT 15.5.12.D, BCIT 15.5.12.I, 15.5.12.L Writing assessments collected and graded, (Transfer Task).
Month: March Unit 9 - Finalizing the Business Plan The executive summary and its purpose Submit Completed Student Business Plan (Transfer Task) Examine online samples of executive summaries to determine essential features of the business plan component Define an executive summary, its importance and purpose Compose an executive summary for the student business plan project, (Transfer Task). BCIT 15.5.12.D, 15.5.12.L Writing assessments collected and graded, (Transfer Task). Formally assess student business plan project with rubric, (Transfer Task). Create a cover, table of contents and appendix for student business plan. Revise and compile all student business plan components. Submit student business plan project, (Transfer Task) BCIT 15.5.12.D, 15.5.12.L
Month: April / May Essential Question: How can social entrepreneurship and creative capitalism work to solve global crises in health, education and poverty? Unit 10 Virtual Business Computer Simulation Lessons Focus on business concepts and strategic management Student business driven with independent decision making Unit 11 - Business Ethics Ethical issues in Business Social Entrepreneurship Interpret the importance of lessons to business ownership. Topics include ideal locations, advantageous store floor designs, target markets, pricing levels, purchasing, financing and market research. Complete reading assignments, reading assessments and simulated computer objectives for respective lessons. Using the software simulation, create, operate and grow a retailing business. Define ethics and related terminology Examine ethical issues in business and strategies followed by ethical driven companies Cite examples and influence of social entrepreneurship. Compare and contrast entrepreneurship with social entrepreneurship. BCIT15.5.12.H Visually monitor computer activity Formally assess reading quizzes and computer simulated work for assigned lessons. Formally assess student driven businesses with computer generated grade percentages based on benchmarks. Visually monitor simulation progress. Formative assessment Summative assessment ( unit test)
Month: June Unit 12 Special Topics Review Famous Entrepreneurs Connect the name of famous entrepreneurs to their companies Strategies of Successful and Innovative Companies Examine the stories of innovative startups and note their steps to creating a successful business BCIT 15.5.12.J Informally evaluate through classroom discussion. Formative assessments Final Exam Units 7 through 12 Recognize terminology from course curriculum Outline main topics of course units Recall course content through cooperative activities Lead cooperative activities and evaluate performance where appropriate. Informally evaluate student recall Summative assessment (final exam) Interpret course curriculum through guided discussion
Common Core Standards Cross Referenced with Entrepreneurship and Innovation Grades 9 12 PA Common Core Academic Standards for Reading in Science and Technical Subjects Craft and Structure CC.3.5.9-10.E. Analyze the structure of the relationships among concepts in a text, including relationship among key terms. CC.3.5.11-12.E. Analyze how the text structures information or ideas into categories or hierarchies, demonstrating understanding of the information or ideas. Application Using graphic organizers, students will contrast debt and equity financing after reading an article provided by. Grades 9 12 PA Common Core Academic Standards for Writing in Science and Technical Subjects Research to Build and Present Knowledge CC.3.6.9-10.H. CC.3.6.11-12.H. Draw evidence from informational texts to support analysis, reflection and research. Application Students will conduct research and write a report that examines the history of state sales tax legislation for online sales (e-commerce activity), the stakeholders who benefit and those who are negatively influenced by the current laws, and formulate an opinion defending the federal government s position or an opinion outlining alternative guidelines for online sales tax collection.
Enduring Understandings a) By understanding how to create and maintain a business, students will have the knowledge to pursue financial independence and have an avenue for personal satisfaction. b) By learning the principles of entrepreneurship, students will develop skills to become better employees regardless of taking entrepreneurial risks in business. c) Knowing that entrepreneurial success is dependent upon recognizing business opportunities, students become more openminded, creative, curious and resourceful to problem-solving. d) Entrepreneurship is the pathway to owning your future, which in turn permits philanthropic work, the advancement of stakeholder interests and a commitment to improve the environment. TRANSFER TASK FOR ENTREPRENEURSHIP AND INNOVATION: Students will write a business plan detailing the operation of a new business. The students have fictional ownership and financial risk in the company. The plan should have a unique idea connected to the venture that makes it competitive or entrepreneurial in the market. The components of the business plan are an executive summary, company description, marketing plan, management plan and financial plan. Students will complete the business plan components at different stages throughout the course for assessment. In March, the plan will be finalized, compiled and submitted for grading.
Business, Computer and Information Technology Standards - 15.5 ENTREPRENEURSHIP 15.5.12.A Analyze personal choices in preparation for entrepreneurship. 15.5.12.B Evaluate personal management and organizational abilities to succeed in entrepreneurship. 15.5.12.C Analyze the impact of entrepreneurship in the domestic economy. 15.5.12.D Create a business plan using appropriate data to support the business concept. 15.5.12.E Evaluate legal forms of business entities when considering entrepreneurship (e.g., corp., LLC, partnership, sole proprietorship, etc). 15.5.12.F Research the opportunities for local entrepreneurship in the global economy and discuss the impact of government regulations. 15.5.12.G Analyze factors affecting global pricing including international currency fluctuations, tariffs, price controls, and anti-dumping laws. 15.5.12.H Assess advantages and disadvantages for entrepreneurial business in foreign markets; including language and trade barriers, marketing and regulations. 15.5.12.I Evaluate the functions of operations management as influenced by the business parameters. 15.5.12.J Evaluate strategies for incorporating emerging technologies into specific business operations. 15.5.12.K Analyze issues and cases associated with government regulation. 15.5.12.L Analyze an innovational/business concept and develop a comprehensive business plan. 15.5.12.M Analyze funding sources for an entrepreneur including IPO, venture capital, loans, and owner capital.