(a) Implementation. The provisions of this section
shall be implemented by school districts beginning with the 2024-2025
school year.
(b) General requirements. Recommended prerequisite:
Principles of Business, Marketing and Finance. Students shall be awarded
one credit for successful completion of this course.
(c) Introduction.
(1) Career and technical education instruction provides
content aligned with challenging academic standards and relevant technical
knowledge and skills for students to further their education and succeed
in current or emerging professions.
(2) The Business, Marketing, and Finance Career Cluster
focuses on planning, managing, organizing, directing, and evaluating
business functions essential to efficient and productive business
management, finance, operations, and marketing.
(3) In Entrepreneurship I, students will gain the knowledge
and skills needed to become an entrepreneur in a free enterprise system.
Students will learn the key concepts necessary to begin and operate
a business. The primary focus of the course is to help students identify
the types and selection criteria of business structures, understand
the components of a business plan, determine feasibility of an idea
using research, and develop and present a business concept. In addition,
students will understand the basics of management, accounting, finance,
marketing, risk, and product development.
(4) Students are encouraged to participate in extended
learning experiences such as career and technical student organizations,
local chamber of commerce meetings, and meetings with entrepreneurs,
mentors, or industry experts.
(5) Statements that contain the word "including" reference
content that must be mastered, while those containing the phrase "such
as" are intended as possible illustrative examples.
(d) Knowledge and skills.
(1) The student demonstrates professional standards/employability
skills as required by business and industry. The student is expected
to:
(A) demonstrate professional business communication
skills such as verbal phone conversations and the construction of
email in a professional manner, including subject line, salutation,
email body, closing, and signature;
(B) model professional business norms for face-to-face
and virtual interactions in alignment with business norms;
(C) identify how to conduct a meeting with professionals,
including the importance of punctual attendance, wearing attire appropriate
for the meeting, introducing all parties to one another, reviewing
and using the meeting agenda as a guide for the meeting, taking notes
during the meeting, and sending meeting outcomes to each participant
after the conclusion of the meeting;
(D) communicate effectively with others using verbal
and nonverbal communication, active listening, and writing skills
in a business setting;
(E) demonstrate collaboration skills, including resolving
conflicts, within a team setting;
(F) demonstrate a productive work ethic, including
working hard, respecting authority, performing assigned tasks, following
schedules, and meeting deadlines;
(G) evaluate the ethical course of action for entrepreneurs
using applicable rules, laws, and regulations;
(H) demonstrate leadership skills by participating
in career and technical student organizations, leading a team project,
or facilitating a group discussion;
(I) demonstrate coachability skills by receiving and
giving constructive feedback;
(J) demonstrate critical and analytical thinking skills
when comparing business decisions; and
(K) demonstrate virtues, including trustworthiness,
responsibility, and good citizenship.
(2) The student demonstrates an understanding of entrepreneurship.
The student is expected to:
(A) distinguish between the terms entrepreneurship
and entrepreneur;
(B) define small-, medium-, and large-sized businesses;
(C) differentiate between the various routes to entrepreneurship,
including start-ups, franchising, acquisition, mergers, and non-profit
ownership;
(D) identify and discuss the risks and benefits of
an entrepreneurial way of life;
(E) analyze and discuss the advantages and disadvantages
of entrepreneurship;
(F) distinguish between intrapreneurship and entrepreneurship;
and
(G) identify the role entrepreneurship plays in innovation
within a free-market economy.
(3) The student researches corporations, limited liability
corporations, franchises, partnerships, limited partnerships, and
sole proprietorships to understand business structures. The student
is expected to:
(A) evaluate the advantages and disadvantages involved
with the ownership of corporations, limited liability corporations,
franchises, partnerships, limited partnerships, and sole proprietorships,
including control, tax implications, risk, and liability;
(B) differentiate between management structures for
different types of business;
(C) investigate local businesses and classify them
by their business structures; and
(D) identify the primary importance of shareholders.
(4) The student engages in discovery activities related
to entrepreneurship. The student is expected to:
(A) complete a career interest inventory or career
aptitude test and a personality assessment to identify personality
traits, strengths, and weaknesses;
(B) identify characteristics of successful entrepreneurs;
and
(C) identify opportunities for personal growth through
self-reflection activities.
(5) The student identifies problems and creates solutions
to address market wants and needs. The student is expected to:
(A) identify and analyze problems in the marketplace
through an ideation process and market research;
(B) describe possible solutions for the marketplace
problems identified; and
(C) determine the feasibility of a solution by performing
a features-benefits-value analysis.
(6) The student understands the key components included
in a business plan. The student is expected to:
(A) define and explain basic accounting terms, including
revenue; expenses; cash; accounts receivable; accounts payable; fixed
assets; liquid assets; inventory; liabilities; cost of goods sold;
earnings before interest, taxes, depreciation, and amortization (EBITDA);
gross profit; net profit; forecasts; cash flow; return on investment;
and owners' equity;
(B) identify possible diversified revenue streams and
explain how to generate various revenue streams for a business;
(C) define and explain variable, fixed, and mixed costs;
(D) identify the components of key financial statements
of a business plan, including balance sheet, profit and loss statement,
and cash flow statement;
(E) calculate unit economics and a break-even point
using sample data;
(F) define and explain different channels of distribution;
(G) define and explain demographics, psychographics,
and geographics as related to potential customer segment;
(H) provide examples of market segments;
(I) compare various pricing strategies such as cost-plus
pricing, price skimming, penetration pricing, premium pricing, and
value-based pricing;
(J) define and explain a competitive analysis;
(K) analyze and explain different types of marketing
and sales strategies, including digital and social media marketing;
(L) identify and define key performance metrics and
describe how they may vary by industry; and
(M) describe the unique value proposition of a product
or service that provides a competitive edge against existing competitors.
(7) The student demonstrates an understanding of a
business planning methodology. The student is expected to:
(A) identify the components of a business planning
tool, including the Business Model Canvas; and
(B) apply a business planning template to an existing
business.
(8) The student creates a plan for a preliminary business
concept. The student is expected to:
(A) identify a current market need or problem;
(B) identify a product or service to address the market
need or problem;
(C) explain the unique value proposition of the product
or service;
(D) explain potential impacts of the availability of
the product or service on a selected target market; and
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