Description
In such a information related to academic standards course framework entrepreneurship and new ventures.
Entrepreneurship and New Ventures, 7-11-14, Page 1 of 4
Indiana Department of Education
Academic Standards Course Framework
ENTREPRENEURSHIP AND NEW VENTURES
Entrepreneurship and New Ventures introduces entrepreneurship, and develop skills and tools critical for
starting and succeeding in a new venture. The entrepreneurial process of opportunity recognition,
innovation, value proposition, competitive advantage, venture concept, feasibility analysis, and “go to”
market strategies will be explored through mini case studies of successful and unsuccessful
entrepreneurial start-ups. Additionally, topics of government and legal restrictions, intellectual property,
franchising location, basic business accounting, raising startup funding, sales and revenue forecasting
and business plan development will be presented through extensive use of word processing,
spreadsheet and presentation software.
? DOE Code: 5966
? Recommended Grade Level: Grade 11-12
? Recommended Prerequisites: Principles of Business Management or Principles of Marketing
? Credits: 1-3 credits per semester, maximum of 6 credits
? Counts as a Directed Elective or Elective for the General, Core 40, Core 40 with Academic Honors
and Core 40 with Technical Honors diplomas
? This course is aligned with postsecondary courses for Dual Credit:
o Ivy Tech
? ENTR 101 – The Entrepreneur and the Enterprise
o Vincennes University
? ENTR 121 – Creating a Small Business
Dual Credit
This course provides the opportunity for dual credit for students who meet postsecondary
requirements for earning dual credit and successfully complete the dual credit requirements of this
course.
Application of Content and Multiple Hour Offerings
Intensive laboratory applications are a component of this course and may be either school based or
work based or a combination of the two. Work-based learning experiences should be in a closely
related industry setting. Instructors shall have a standards-based training plan for students
participating in work-based learning experiences. When a course is offered for multiple hours per
semester, the amount of laboratory application or work-based learning needs to be increased
proportionally.
Career and Technical Student Organizations (CTSOs)
Career and Technical Student Organizations are considered a powerful instructional tool when
integrated into Career and Technical Education programs. They enhance the knowledge and skills
students learn in a course by allowing a student to participate in a unique program of career and
leadership development. Students should be encouraged to participate in Business Professional of
America, DECA, or Future Business Leaders of America, the CTSOs for this area.
Entrepreneurship and New Ventures, 7-11-14, Page 2 of 4
Content Standards
Domain – Fundamentals of Entrepreneurship
Core Standard 1 Students evaluate characteristics of an entrepreneur and concepts of organizational
structures to examine the scope of a new business venture.
Standards
ENV-1.1 Establish entrepreneurship as a method to establish and operate a business
ENV-1.2 Analyze the characteristics of an entrepreneur
ENV-1.3 Identify the management, financial, marketing and legal skills necessary to operate and
grow an entrepreneurial business venture
ENV-1.4 Recognize the role of leadership and ethics in entrepreneurial ventures
ENV-1.5 Determine the role of entrepreneurship in an individual’s future
ENV-1.6 Synthesize motivating factors for entrepreneurs
ENV-1.7 Explain the concept of social responsibility in entrepreneurship and social
entrepreneurship
ENV-1.8 Recognize the role of entrepreneurship within a enterprise
Domain – Economics and Market Conditions
Core Standard 2 Students apply principles of economics and global trade in order to evaluate market
forces affecting new business ventures.
Standards
ENV-2.1 Analyze the impact of the local economy on the establishment of a new business
ENV-2.2 Investigate the impact of the national economy on the establishment of a new business
ENV-2.3 Identify the global aspect of an enterprise
ENV-2.4 Analyze the impact of international economy on the establishment of a new business
ENV-2.5 Evaluate the contribution of entrepreneurship to the economy
Domain – Opportunity Recognition
Core Standard 3 Students apply theories of market analysis and consumer research to recognize an
entrepreneurial opportunity.
Standards
ENV-3.1 Diagnose market trends, competitive factors and consumer demands to identify
business opportunities
ENV-3.2 Connect key elements of the opportunity recognition process
ENV-3.3 Assess entrepreneurial opportunities by applying concepts of market research for
entrepreneurial ventures
ENV-3.4 Differentiate between short and long term opportunities
ENV-3.5 Design and conduct feasibility analyses of entrepreneurial opportunities
Domain – Creativity and Innovation
Core Standard 4 Students synthesize complex market and consumer behavior information in order to
generate innovative ideas for new business ventures.
Standards
ENV-4.1 Evaluate where innovation can be found within a organization, how to recognize it, and
how it can be used as a competitive advantage
Entrepreneurship and New Ventures, 7-11-14, Page 3 of 4
ENV-4.2 Identify current trends in entrepreneurship
ENV-4.3 Use decision making under uncertainty and incomplete information
ENV-4.4 Synthesize idea generation through case studies for cultivating the entrepreneurial
mindset
Domain – Financial Planning
Core Standard 5 Students apply principles of business finance and accounting to develop a sound
financial structure for new business ventures.
Standards
ENV-5.1 Verify accounting fundamentals and terminology
ENV-5.2 Construct and interpret financial statements
ENV-5.3 Calculate return on investment and break even points
ENV-5.4 Evaluate methods of funding a new business
ENV-5.5 Examine the factors for effective purchasing
ENV-5.6 Investigate appropriate pricing range with consideration of the target market
ENV-5.7 Estimate fixed and variable costs for new business operation
ENV-5.8 Investigate the effect of foreign currency and exchange rate
Domain – Business Strategies
Core Standard 6 Students integrate concepts of management, product development, and marketing to
develop business strategies to turn entrepreneurial opportunities into a viable business.
Standards
ENV-6.1 Evaluate market entry strategies
ENV-6.2 Identify and evaluate the methods of entering an entrepreneurial venture, including
starting a new business, buying an existing business, becoming a franchisee, and other
forms of ownership
ENV-6.3 Identify and explain risk and risk management in a new venture
ENV-6.4 Formulate a marketing strategy that connects the product, price, promotion and
location of a new venture
ENV-6.5 Differentiate product development strategies for appropriate business needs
ENV-6.6 Design and conduct analysis of the Strength, Weakness, Opportunities, and Threats
(SWOT) for a new venture
ENV-6.7 Hypothesize growth strategies for the enterprise through analysis of market conditions
ENV-6.8 Formulate exit strategies
ENV-6.9 Construct emergency preparation and disaster recovery plans
Domain – Role of Technology
Core Standard 7 Students research information and communication technologies to optimize all aspects
of a new business venture.
Standards
ENV-7.1 Develop a technology plan which focuses on increasing efficiency of business
operations
ENV-7.2 Explore Internet, social media and communication technologies for business promotion
ENV-7.3 Research available technology resources for all phases of business creation and
operation
Entrepreneurship and New Ventures, 7-11-14, Page 4 of 4
Domain – Developing a Business Plan
Core Standard 8 Students create a Business Plan using business development strategies for potential
implementation.
Standards
ENV-8.1 Understand and build the framework of a business plan
ENV-8.2 Define organizational structure as well as the human and financial capital requirements
of a new venture
ENV-8.3 Evaluate forms of business ownership and related tax implications
ENV-8.4 Synthesize tools, techniques, and systems needed to plan, recruit, lead, and organize
human resources for a new venture
ENV-8.5 Articulate mechanisms to mobilize financial resources for a new venture
ENV-8.6 Confirm an operations plan with a timeline, deliverables and milestones
ENV-8.7 Identify risks in implementation process
ENV-8.8 Design a succinct communication strategy (including an “elevator pitch”) to articulate
the core value propositions of the new venture to potential funders, partners and
customers
doc_298288055.pdf
In such a information related to academic standards course framework entrepreneurship and new ventures.
Entrepreneurship and New Ventures, 7-11-14, Page 1 of 4
Indiana Department of Education
Academic Standards Course Framework
ENTREPRENEURSHIP AND NEW VENTURES
Entrepreneurship and New Ventures introduces entrepreneurship, and develop skills and tools critical for
starting and succeeding in a new venture. The entrepreneurial process of opportunity recognition,
innovation, value proposition, competitive advantage, venture concept, feasibility analysis, and “go to”
market strategies will be explored through mini case studies of successful and unsuccessful
entrepreneurial start-ups. Additionally, topics of government and legal restrictions, intellectual property,
franchising location, basic business accounting, raising startup funding, sales and revenue forecasting
and business plan development will be presented through extensive use of word processing,
spreadsheet and presentation software.
? DOE Code: 5966
? Recommended Grade Level: Grade 11-12
? Recommended Prerequisites: Principles of Business Management or Principles of Marketing
? Credits: 1-3 credits per semester, maximum of 6 credits
? Counts as a Directed Elective or Elective for the General, Core 40, Core 40 with Academic Honors
and Core 40 with Technical Honors diplomas
? This course is aligned with postsecondary courses for Dual Credit:
o Ivy Tech
? ENTR 101 – The Entrepreneur and the Enterprise
o Vincennes University
? ENTR 121 – Creating a Small Business
Dual Credit
This course provides the opportunity for dual credit for students who meet postsecondary
requirements for earning dual credit and successfully complete the dual credit requirements of this
course.
Application of Content and Multiple Hour Offerings
Intensive laboratory applications are a component of this course and may be either school based or
work based or a combination of the two. Work-based learning experiences should be in a closely
related industry setting. Instructors shall have a standards-based training plan for students
participating in work-based learning experiences. When a course is offered for multiple hours per
semester, the amount of laboratory application or work-based learning needs to be increased
proportionally.
Career and Technical Student Organizations (CTSOs)
Career and Technical Student Organizations are considered a powerful instructional tool when
integrated into Career and Technical Education programs. They enhance the knowledge and skills
students learn in a course by allowing a student to participate in a unique program of career and
leadership development. Students should be encouraged to participate in Business Professional of
America, DECA, or Future Business Leaders of America, the CTSOs for this area.
Entrepreneurship and New Ventures, 7-11-14, Page 2 of 4
Content Standards
Domain – Fundamentals of Entrepreneurship
Core Standard 1 Students evaluate characteristics of an entrepreneur and concepts of organizational
structures to examine the scope of a new business venture.
Standards
ENV-1.1 Establish entrepreneurship as a method to establish and operate a business
ENV-1.2 Analyze the characteristics of an entrepreneur
ENV-1.3 Identify the management, financial, marketing and legal skills necessary to operate and
grow an entrepreneurial business venture
ENV-1.4 Recognize the role of leadership and ethics in entrepreneurial ventures
ENV-1.5 Determine the role of entrepreneurship in an individual’s future
ENV-1.6 Synthesize motivating factors for entrepreneurs
ENV-1.7 Explain the concept of social responsibility in entrepreneurship and social
entrepreneurship
ENV-1.8 Recognize the role of entrepreneurship within a enterprise
Domain – Economics and Market Conditions
Core Standard 2 Students apply principles of economics and global trade in order to evaluate market
forces affecting new business ventures.
Standards
ENV-2.1 Analyze the impact of the local economy on the establishment of a new business
ENV-2.2 Investigate the impact of the national economy on the establishment of a new business
ENV-2.3 Identify the global aspect of an enterprise
ENV-2.4 Analyze the impact of international economy on the establishment of a new business
ENV-2.5 Evaluate the contribution of entrepreneurship to the economy
Domain – Opportunity Recognition
Core Standard 3 Students apply theories of market analysis and consumer research to recognize an
entrepreneurial opportunity.
Standards
ENV-3.1 Diagnose market trends, competitive factors and consumer demands to identify
business opportunities
ENV-3.2 Connect key elements of the opportunity recognition process
ENV-3.3 Assess entrepreneurial opportunities by applying concepts of market research for
entrepreneurial ventures
ENV-3.4 Differentiate between short and long term opportunities
ENV-3.5 Design and conduct feasibility analyses of entrepreneurial opportunities
Domain – Creativity and Innovation
Core Standard 4 Students synthesize complex market and consumer behavior information in order to
generate innovative ideas for new business ventures.
Standards
ENV-4.1 Evaluate where innovation can be found within a organization, how to recognize it, and
how it can be used as a competitive advantage
Entrepreneurship and New Ventures, 7-11-14, Page 3 of 4
ENV-4.2 Identify current trends in entrepreneurship
ENV-4.3 Use decision making under uncertainty and incomplete information
ENV-4.4 Synthesize idea generation through case studies for cultivating the entrepreneurial
mindset
Domain – Financial Planning
Core Standard 5 Students apply principles of business finance and accounting to develop a sound
financial structure for new business ventures.
Standards
ENV-5.1 Verify accounting fundamentals and terminology
ENV-5.2 Construct and interpret financial statements
ENV-5.3 Calculate return on investment and break even points
ENV-5.4 Evaluate methods of funding a new business
ENV-5.5 Examine the factors for effective purchasing
ENV-5.6 Investigate appropriate pricing range with consideration of the target market
ENV-5.7 Estimate fixed and variable costs for new business operation
ENV-5.8 Investigate the effect of foreign currency and exchange rate
Domain – Business Strategies
Core Standard 6 Students integrate concepts of management, product development, and marketing to
develop business strategies to turn entrepreneurial opportunities into a viable business.
Standards
ENV-6.1 Evaluate market entry strategies
ENV-6.2 Identify and evaluate the methods of entering an entrepreneurial venture, including
starting a new business, buying an existing business, becoming a franchisee, and other
forms of ownership
ENV-6.3 Identify and explain risk and risk management in a new venture
ENV-6.4 Formulate a marketing strategy that connects the product, price, promotion and
location of a new venture
ENV-6.5 Differentiate product development strategies for appropriate business needs
ENV-6.6 Design and conduct analysis of the Strength, Weakness, Opportunities, and Threats
(SWOT) for a new venture
ENV-6.7 Hypothesize growth strategies for the enterprise through analysis of market conditions
ENV-6.8 Formulate exit strategies
ENV-6.9 Construct emergency preparation and disaster recovery plans
Domain – Role of Technology
Core Standard 7 Students research information and communication technologies to optimize all aspects
of a new business venture.
Standards
ENV-7.1 Develop a technology plan which focuses on increasing efficiency of business
operations
ENV-7.2 Explore Internet, social media and communication technologies for business promotion
ENV-7.3 Research available technology resources for all phases of business creation and
operation
Entrepreneurship and New Ventures, 7-11-14, Page 4 of 4
Domain – Developing a Business Plan
Core Standard 8 Students create a Business Plan using business development strategies for potential
implementation.
Standards
ENV-8.1 Understand and build the framework of a business plan
ENV-8.2 Define organizational structure as well as the human and financial capital requirements
of a new venture
ENV-8.3 Evaluate forms of business ownership and related tax implications
ENV-8.4 Synthesize tools, techniques, and systems needed to plan, recruit, lead, and organize
human resources for a new venture
ENV-8.5 Articulate mechanisms to mobilize financial resources for a new venture
ENV-8.6 Confirm an operations plan with a timeline, deliverables and milestones
ENV-8.7 Identify risks in implementation process
ENV-8.8 Design a succinct communication strategy (including an “elevator pitch”) to articulate
the core value propositions of the new venture to potential funders, partners and
customers
doc_298288055.pdf