(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 11 and 12. Recommended prerequisites: Entrepreneurship
I and Entrepreneurship II or successful completion of at least two
courses in a career and technical education (CTE) program of study.
Students shall be awarded two credits for successful completion of
this course. A student may repeat this course once for credit provided
that the student is experiencing different aspects of the industry
and demonstrating proficiency in additional and more advanced knowledge
and skills.
(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) This course can serve in multiple CTE programs
of study, as it focuses on planning, managing, organizing, directing,
and evaluating business functions essential to efficient and productive
business management, finance, operations, and marketing related to
the student's industry focus.
(3) Practicum in Entrepreneurship provides students
the opportunity to apply classroom learning and experiences to real-world
business problems and opportunities in a free enterprise system while
expanding their skill sets and professional relationships as a real
or simulated business owner versus the experience one would have as
an employee. Students will prepare for an entrepreneurial career in
their area of interest in their career cluster and build on and apply
the knowledge and skills gained from courses taken in an array of
career areas. Practicum experiences occur in a paid or an unpaid arrangement
and a variety of locations appropriate to the nature and level of
the student's need for work-based learning experience. Students implement
personal and interpersonal skills to strengthen individual performance
in the workplace and in society and to make a successful transition
to the workforce or postsecondary education. It is recommended that
students are paired with local business owners or employers in their
specific industry program of study.
(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) Students are encouraged to transition from the
idea phase to action and implementation of a business, including validation
through sales in a real or simulated scenario.
(6) 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 required by business and industry. The student is expected
to:
(A) participate in a paid or an unpaid laboratory or
work-based application of previously studied knowledge and skills
related to entrepreneurship;
(B) demonstrate professional business skills through
written and oral communication;
(C) demonstrate collaboration skills through teamwork
and constructive dialogue;
(D) demonstrate professionalism by behaving in a manner
appropriate for the profession and workplace;
(E) demonstrate a positive, productive work ethic by
performing assigned tasks as directed;
(F) comply with all applicable rules, laws, and regulations;
(G) demonstrate time-management skills by prioritizing
tasks, following schedules, and accomplishing goal-relevant activities
in a way that uses time wisely and optimizes efficiency and results;
(H) identify appropriate business attire for the selected
workplace; and
(I) demonstrate critical and analytical thinking skills
when comparing business decisions.
(2) The student analyzes major problem areas and potential
problem areas for entrepreneurs while demonstrating an understanding
of leverage points and constraints. The student is expected to:
(A) assess businesses that have failed, determine factors
associated with business closure, and prepare and present analysis
to peers;
(B) research and analyze risks faced by entrepreneurs;
(C) evaluate entrepreneurial risk versus opportunity
for a given business example;
(D) describe how entrepreneurship differs from working
for an employer;
(E) analyze personal aptitude for entrepreneurship;
(F) describe how entrepreneurs must manage organizational
finances;
(G) research and apply the entrepreneur's approach
to risk-taking as it applies to business decision-making;
(H) explore and explain a company's competitive advantage
in its field of interest;
(I) analyze the risks and rewards of business ownership
by interviewing an entrepreneur in a chosen field of interest; and
(J) analyze how psychology and sociology explain factors
that drive customer behavior and impact business success.
(3) The student identifies the appropriate legal structure,
benefits, and drawbacks for different business types. The student
is expected to:
(A) describe the different basic types of business
formation, including sole proprietorship, partnership, corporation,
and limited liability company;
(B) compare the benefits and drawbacks for each type
of business structure such as personal liability and taxes; and
(C) research an existing business and simulate liability
issues associated with its type of business structure through role-play.
(4) The student determines how to obtain funding and
all associated costs needed to start a particular business. The student
is expected to:
(A) describe all materials, facilities, technology,
inventory, and personnel that will be needed to start and sustain
the business;
(B) devise a timeline of tasks that must be completed,
including the associated costs;
(C) list and describe all supplies, personnel wages
and salaries, inventories, insurance, utilities, repair and maintenance,
and other operating costs associated with funding the business once
it is operating;
(D) document and analyze the costs associated with
operating the business, using cash flow and return on investment as
a means of evaluation;
(E) estimate how much money will be needed on-hand
to operate the business until the break-even point;
(F) seek the advice of mentors from industry to analyze
and discuss actual business situations and funding options to assist
the student with a business idea;
(G) create and analyze financial statements to identify
ways to improve business performance in a business model of choice;
and
(H) define cash burn in relationship to a business's
viability.
(5) The student examines the responsibilities businesses
have to employees and the community. The student is expected to:
(A) explain the benefits of a business that contributes
to the economic well-being of its employees and community;
(B) research and describe the methods in which a business
can ensure economic growth and provide jobs;
(C) explore and analyze the health and safety responsibilities
a business has to the community and its employees; and
(D) research and identify how businesses are making
investments in community infrastructure.
(6) The student analyzes for-profit and non-profit
business growth and exit strategies. The student is expected to:
(A) compare business growth strategies and identify
and defend the most favorable for a potential business;
(B) describe methods that a business owner can use
to obtain financial support to expand a business;
(C) identify and explain various methods an entrepreneur
can use to determine how much a business is worth;
(D) analyze various paths to exit a business and the
impact from startup decisions; and
(E) explain the factors an entrepreneur should consider
when preparing to exit a business.
(7) The student collaborates in small groups to complete
a project-based research activity to develop critical thinking and
creative problem solving. The student is expected to:
(A) analyze a real-world work site and research an
existing issue or problem the business is experiencing;
(B) research and report how to resolve the business
problem;
(C) develop a proposal for future business opportunities;
and
(D) determine how to create business relationships
or alliances that would be beneficial to the business.
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