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Business and Information Technology Education
Entrepreneurship: Business Development
This course will provide students with the fundamental concepts, principles, and ideas needed to become an entrepreneur.
Jaclyn Arnold
(405) 743-5419
Introduction to Entrepreneurship
Define and utilize the financial concepts and tools used in making business decisions

-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

-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

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

-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
-Orient new employees (management's role)
-Conduct training class/program
-Coach employees

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

-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

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

-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

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

-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
A*S*K Certification
-Fundamental Business Concepts

Required Brainbench Certifications:
-Managing People
-Business Ethics Awareness
-Office Management (U.S.)
A*S*K Business Institute,

Advertising and Sales Promotion, 1st Ed., Ken Kaser, ISBN-10: 1111573239, 2012.
Managing Human Resources, 16th Ed., Snell & Bohlander, ISBN-13: 978-1285866390.
Small Business Management, Cengage Learning.
Small Business Management: Entrepreneurship and Beyond, Cengage Learning.
Small Business Management: Launching and Growing Entrepreneurial Ventures, Cengage Learning.
21st Century Business: Business Law, 2nd Edition, John E. Adamson, ISBN-13: 9780538740616.
21st Century Business: Customer Service, Student Edition, 2nd Edition, ISBN-13: 9780538740289.
21st Century Business: Intro to Business, 2nd Edition, Robert A Ristau, ISBN-13: 9780538740661.

Business Management and Administration Career Cluster: Resources by Subject:

Interactive Tools:
MindTap, Cengage Learning.

A*S*K Business Institute,
MBA Research & Curriculum Center,
Career Majors That Sequence This Course
Career Cluster Pathway Career Major
Business Management & Administration General Management Entrepreneur
Marketing, Sales & Service Marketing Management and Entrepreneurship Small Business Owner