| (a) Implementation. The provisions of this section
shall be implemented by school districts beginning with the 2024-2025
school year.
(b) General requirements. This course is recommended
for students in Grades 10-12. Prerequisite: Entrepreneurship I. 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 II, students gain the knowledge
and skills needed to become successful entrepreneurs within an innovative
marketplace in a free enterprise system. The goal and outcome of the
course are for students to have a business launched by the end of
the course or have the tools necessary to launch and operate a business.
In this course, students learn and initiate the process of taking
a business plan from idea to implementation. Students are encouraged
to work in close cooperation with local industry leaders and community
members to develop ideas and objectives, complete a business planning
tool, pitch for funding, and register with governmental agencies.
(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 skills through
written and oral communication;
(B) demonstrate a productive work ethic by using a
personal calendar, task list, and project management tools;
(C) conduct meetings in face-to-face and virtual settings
by creating an agenda, confirming the meeting, using an agenda as
a guide for the meeting, and sending meeting follow-up correspondence;
(D) demonstrate collaboration skills within a diverse
team setting;
(E) identify an ethical course of action in a business
setting;
(F) demonstrate leadership skills by participating
in career and technical student organizations, leading a team project,
or facilitating a group discussion;
(G) demonstrate coachability skills by working hard,
respecting authority, and using feedback to inform decision making;
(H) set short- and long-term goals;
(I) identify appropriate business attire in various
work settings;
(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 the
entrepreneurial environment. The student is expected to:
(A) compare the advantages and disadvantages of corporations,
franchises, partnerships, limited-liability companies, and sole-proprietorships;
(B) evaluate the factors involved with starting, acquiring,
or expanding a business;
(C) describe franchise opportunities and ownership
requirements;
(D) define scaling as it applies to growing a business;
(E) self-reflect on and evaluate personal strengths
for becoming a successful entrepreneur; and
(F) analyze opportunity costs for a given business
example.
(3) The student engages in the ideation process and
determines the feasibility of an entrepreneurial venture. The student
is expected to:
(A) identify and analyze problems in the marketplace
through an ideation process;
(B) analyze market research to identify possible solutions
to a problem;
(C) identify the customer segment affected by a problem;
(D) research, develop, and implement focus group questions
for a specific customer segment;
(E) evaluate the feasibility of possible solutions
to a problem, including a competitive analysis such as a strength,
weakness, opportunities, and threats (SWOT) analysis; and
(F) select and present the most viable solution to
a problem based on market research, feasibility, and customer segmentation.
(4) The student creates a minimum viable product (MVP)
for a start-up business. The student is expected to:
(A) define minimum viable product and unique value
proposition for a good or service;
(B) create a minimum viable product to a solution generated
from an ideation process;
(C) identify unique value proposition(s) of a minimum
viable product;
(D) present the minimum viable product, including the
unique value proposition(s), for feedback; and
(E) conduct market testing of the minimum viable product.
(5) The student understands how to select a funding
source for a start-up business. The student is expected to:
(A) compare the advantages and disadvantages of potential
funding sources, including crowdsourcing, private equity firms, venture
capitalists, banks and other lenders, friends and relatives, grants,
state and local development agencies, and angel investors;
(B) identify predatory lending schemes and practices;
and
(C) evaluate risks and benefits of various funding
sources from short- and long-term perspectives.
(6) The student determines an ownership structure for
a start-up business. The student is expected to:
(A) compare ownership structures for a start-up business;
(B) select an ownership structure and explain why it
is appropriate for a start-up business; and
(C) explain the process for legally registering and
obtaining a tax status for a start-up business for a selected ownership
structure.
(7) The student uses a business planning tool to develop
a start-up business concept. The student is expected to:
(A) research business plan outlines, resources, and
templates such as Business Model Canvas, lean business model template,
or a traditional business plan template;
(B) select an appropriate business planning tool for
a start-up business;
(C) complete the components of a selected business
planning tool for a start-up business concept; and
(D) present a start-up business concept for feedback.
(8) The student demonstrates an understanding of accounting
and financial practices. The student is expected to:
(A) explain the importance of budgeting and cash flow,
including burn rate;
(B) identify revenues and expenses for a start-up business;
(C) explain the importance of and interrelationship
between financial statements, including a profit and loss statement,
balance sheet, and statement of cash flow;
(D) create an operational budget for a start-up business;
(E) create a monthly projected financial statement
for a three-year period for a start-up business;
(F) identify accounting tools and services such as
accounting and bookkeeping software, payroll services, and tax services;
and
(G) select appropriate accounting tools and services
for a start-up business.
(9) The student demonstrates an understanding of the
legal and regulatory environment for a business. The student is expected
to:
(A) differentiate ways to protect intellectual property;
(B) distinguish between the advantages and disadvantages
of a patent;
(C) determine the types of licenses a start-up business
might be required to obtain, including a business license, employer
identification number, name registry, professional license, and occupational
license;
(D) examine the role of government agencies that oversee
business regulations and determine the regulatory implications for
a start-up business;
(E) examine the role of workplace safety and health
in the regulatory environment and determine its implications for a
start-up business;
(F) analyze the purpose of legally binding contracts;
Cont'd... |
