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Course Information
Business and Information Technology Education
BT00054
Advanced Entrepreneurship
120.00
This course is designed to provide a detailed study of all aspects related to starting a business. The course includes the basic fundamentals of marketing and business operations and advanced topics to consider when preparing for business ownership. Through self-assessment activities, students will identify their potential for creating a business or a marketable product/idea. Students will apply what they learn by developing their own detailed business plan. Self-employment is presented as a viable career option. Students will develop leadership traits and identify their leadership potential through participation in the DECA (an association of marketing students) student organization.
Karen Green
Program Specialist
405-743-5743
kgree@okcareertech.org
Accounting I
Entrepreneurship
Marketing Fundamentals
Intro to Business/Marketing (or) Business and Computer Tech OR
Fundamentals of Technology
• Knowledge & Skills
Financial Management
Define and utilize the financial concepts and tools used in making business decisions
• Accounting
Explain accounting standards (GAAP)
Prepare estimated/projected income statement
Estimate cash-flow needs
Prepare estimated/projected balance sheet
Calculate financial ratios
Determine and deposit payroll taxes
File tax returns
Finance
Explain the purposes and importance of obtaining business credit
Make critical decisions regarding acceptance of bank cards
Establish credit policies
Develop billing and collection policies
Describe use of credit bureaus
Explain the nature of overhead/operating expenses
Determine financing needed to start a business
Determine risks associated with obtaining business credit
Explain sources of financial assistance
Explain loan evaluation criteria used by lending institutions
Select sources of business loans
Establish relationship with financial institutions
Complete loan application process
Determine business's value

• Money Management
Establish financial goals and objectives
Develop and monitor budget
Manage cash flow
Explain the nature of capital investment
Foster a positive financial reputation
Implement procedures for managing debt
Supervise/implement regular accounting procedures and financial reports
Record keeping
Explain the nature of business records
Maintain record of daily financial transactions
Record and report sales tax
Develop payroll record keeping system
Maintain personnel records
Maintain customer records

• Human Resource Management
Understands the concepts, systems, and strategies needed to acquire, motivate, develop, and terminate staff

• Organizing
Develop a personnel organizational plan
Develop job descriptions
Develop compensation plan/incentive systems
Organize work/projects for others
Delegate responsibility for job tasks

•Staffing
Determine hiring needs
Recruit new employees
Screen job applications/resumes
Interview job applicants
Select new employees
Negotiate new-hire's salary/pay
Dismiss/Fire employee
Training/Development
Orient new employees (management's role)
Conduct training class/program
Coach employees

• Morale/Motivation
Exhibit leadership skills
Encourage team building
Recognize/reward employees
Handle employee complaints/grievances
Ensure equitable opportunities for employees
Build organizational culture

• Assessment
Assess employee morale
Provide feedback on work efforts
Assess employee performance
Take remedial action with employee
Conduct exit interviews
Information Acquisition
Select sources of business start-up information
Conduct an environmental scan to obtain marketing information
Monitor internal records for marketing information
Determine underlying customer needs/frustrations

• Marketing Management
Understands the concepts, processes, and systems needed to determine and satisfy customer needs/wants/expectations, meet business goals/objectives, and create new product/service ideas
Product/Service Creation
Explain methods to generate a product/service idea
Generate product/service ideas
Assess opportunities for import substitution
Determine product/service to fill customer need
Determine initial feasibility of product/service ideas
Plan product/service mix
Choose product name
Determine unique selling proposition
Develop strategies to position product/service
Build brand/image
Evaluate customer experience

• Marketing-information Management
Explain the concept of market and market identification
Describe the role of situation analysis in the marketing-planning process
Determine market segments
Select target markets
Conduct market analysis
Explain the concept of marketing strategies
Describe the nature of marketing planning
Set a marketing budget
Develop marketing plan
Monitor and evaluate performance of marketing plan

• Promotion
Describe the elements of the promotional mix
Calculate advertising media costs
Select advertising media
Prepare a promotional budget
Develop promotional plan for a business
Write a news release
Obtain publicity
Select sales-promotion options
Write sales letters
Manage online (www) activities
Evaluate effectiveness of advertising

• Pricing
Calculate breakeven point
Explain factors affecting pricing decisions
Establish pricing objectives
Select pricing strategies
Set prices
Adjust prices to maximize profitability

• Selling
Acquire product information for use in selling
Analyze product information to identify product features and benefits
Prepare for the sales presentation
Establish relationship with client/customer
Determine customer/client needs
Determine customer's buying motives for use in selling
Differentiate between consumer and organizational buying behavior
Recommend specific product
Convert customer/client objections into selling points
Close the sale
Demonstrate suggestion selling
Plan follow up strategies for use in selling
Process sales documentation
Prospect for customers
Plan strategies for meeting sales quotas
Analyze sales reports
Train staff to support sales efforts
Analyze technology for use in the sales function
Manage online sales process
Required Brainbench Certifications (or equivalent industry certifications) Choose One:

-Business Communication

-Customer Assistance
-Business Ethics Awareness
-Office Management

-Managing People

-Business Ethics Awareness

-Business Concepts


Recommended Additional Competency Testing:

-MS PowerPoint

-Computer Fundamentals

-Telephone Concepts

-Interpersonal Communications

-Listening Skills

http://www.okcareertech.org/mkted/courseinfo/brainbench.htm


Required ODCTE Competency Testing:

Skills Standards

http://www.okcareertech.org/testing/Skills_Standards/Marketing_Career_Cluster.htm

-Manager Trainee

-Salesmanship

http://www.okcareertech.org/certify


Recommended Industry Certifications:

-A*S*K Institute (mbaresearch.org)

http://www.askinstitute.org
National Content Standards for Entrepreneurship Education

Consortium for Entrepreneurship Education

Columbus, OH

http://www.entre-ed.org

National Standards for Marketing Education

Marketing Education Resource Center

Columbus, OH

http://www.mbaresearch.org

National Content Standards for Entrepreneurship Education

Consortium for Entrepreneurship Education

Columbus, OH

http://www.entre-ed.org


Priority Academic Student Skills (PASS), Economics Standards 1-11

Oklahoma State Department of Education


Instructional Textbooks and Resources:

Entrepreneurship: Ideas in Action 3E, 2006, C.L. Greene, Thomson/South-Western
http://www.ideas-in-action.swlearning.com

Marketing 2E, 2006, J.L. Burrow, Thomson/South-Western
http://www.marketxtra.swlearning.com

Marketing Essentials,2006, L.S. Farese, G. Kimbrell, C.A. Woloszyk, Glencoe/McGraw-Hill, Woodland Hills, CA.
http://www.marketingessentials.glencoe.com

Marketing Yourself, 2004, D. Ciletti, Thomson/South-Western
http://www.marketingyourself.swlearning.com

Retail Readiness Certification Prep, 2005, Thomson/South-Western
http://www.retailreadiness.swlearning.com

Junior Achievement

DECA

http://www.deca.org

OKCIS (Oklahoma Career Information System)

http://www.okcis.intocareers.org
No
8617
Yes
Yes
Yes
Career Majors That Sequence This Course
Career Cluster Pathway Career Major
Marketing, Sales & Service Management and Entrepreneurship Franchise Owner
Marketing, Sales & Service Management and Entrepreneurship Independent Distributor
Marketing, Sales & Service Management and Entrepreneurship International Business Entrepreneur
Marketing, Sales & Service Management and Entrepreneurship Small Business Entrepreneur