Description
In this particular brief detail resolve entrepreneurial studies venture planning, grade 12, college expectations.
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 1
Challenges of a Venture Start-up
Overall Expectations
VSV.01 · analyse the challenges and opportunities of the start-up phase of a business life cycle;
VSV.02 · compare the advantages enjoyed by young entrepreneurs with the challenges they face;
VSV.03 · evaluate the key components, appropriate formats, and presentation styles of venture plans.
Start-up Challenges and Opportunities
VS1.01 – explain the stages in the life cycle of a business;
VS1.02 – summarize the factors that contribute to the success or failure of a new venture (e.g.,
adequacy or inadequacy of capitalization, management and risk-management skills,
technological skills and equipment; economic conditions; government policies; effects of
globalization);
VS1.03 – analyse the conditions (e.g., competitive, economic, demographic) facing ventures starting up
in various markets.
Advantages and Challenges Related to Youth
VS2.01 – summarize the advantages and disadvantages experienced by young entrepreneurs because
of their youth;
VS2.02 – describe how young entrepreneurs might benefit from specific advantages of youth;
VS2.03 – describe strategies to help entrepreneurs who face challenges because of their youth.
The Venture Plan
VS3.01 – identify and describe the components of a venture plan;
VS3.02 – compare a number of business plans in terms of their content, thoroughness, clarity,
organization, impact, and utility;
VS3.03 – describe an exemplary venture plan and explain why it is exemplary.
Venture Conception
Overall Expectations
VCV.01 · summarize entrepreneurial opportunities in their community;
VCV.02 · evaluate entrepreneurial opportunities in their community in order to select one well suited to
their interests, experience, and capabilities;
VCV.03 · generate ideas that match their selected entrepreneurial opportunity;
VCV.04 · assess the ideas to select the one most appropriate to a new venture concept;
VCV.05 · analyse the factors that would influence their selection of a specific venture concept.
Identifying Entrepreneurial Opportunities
VC1.01 – identify perceived problems in their communities;
VC1.02 – summarize what many people in their community might need or want;
VC1.03 – explain how things in their community could be improved;
VC1.04 – identify community needs, wants, and problems that they think could best be addressed by a
not-for-profit venture, and explain why they think so.
Evaluating Opportunities
VC2.01 – relate needs, wants, and problems identified in their community to their own experience,
knowledge, and abilities to solve or satisfy them;
VC2.02 – analyse the opportunities for creating a new venture that are most suited to their particular
entrepreneurial abilities;
Ministry of Education
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 2
VC2.03 – assess the size of the potential target market for the new venture;
VC2.04 – determine the most promising opportunity for the student venture.
Generating Ideas
VC3.01 – identify ways in which creative ideas can be generated (e.g., mind mapping, brainstorming);
VC3.02 – describe the situations and conditions in which they tend to be most creative;
VC3.03 – list possible ideas for the identified opportunity.
Assessing Ideas
VC4.01 – select one idea for a venture that they believe best addresses the identified opportunity;
VC4.02 – summarize what others think of their idea;
VC4.03 – determine whether others have tried this idea and evaluate the success of those attempts;
VC4.04 – describe the potential market for their idea (e.g., composition, size, degree of acceptance of
the product or service);
VC4.05 – decide whether their idea is feasible, is the best among alternatives, and is consistent with
their interests and experience.
The Venture Concept
VC5.01 – compare the various types of ventures (e.g., offering a service compared with producing a
good, selling retail compared with selling wholesale);
VC5.02 – compare the various forms of business ownership (e.g., sole proprietorship, partnership,
corporation, cooperative, franchise);
VC5.03 – determine the type of venture and form of business ownership most appropriate to their
selected opportunity and idea;
VC5.04 – describe the elements of a mission statement (e.g., business philosophy, vision, goals,
objectives).
Preparing for Start-up
Overall Expectations
PRV.01 · organize the information and sources of information needed for the successful start-up of a
new venture;
PRV.02 · compare the possible sources of financing for the venture;
PRV.03 · analyse the resource needs of their venture;
PRV.04 · assess their ability to manage their venture;
PRV.05 · determine the ancillary requirements of the new venture.
Information
PR1.01 – establish a network of contacts that can help them collect the information they require for
their new venture;
PR1.02 – identify public and private secondary sources of useful information (e.g., the Yellow Pages,
local business directories, the Internet, government and industry statistical reports);
PR1.03 – summarize the information they gather from primary and secondary sources.
Financing
PR2.01 – analyse the consequences of overestimating or underestimating the capital needed to launch
their venture;
PR2.02 – estimate the amount of capital that would be required to launch their venture;
Ministry of Education
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 3
PR2.03 – identify the advantages and disadvantages of various sources of capital for their new
venture;
PR2.04 – propose an effective strategy for raising capital for their venture.
Resources
PR3.01 – determine the human resources (e.g., types of employees) and related supports (e.g., benefit
plans, training programs) their venture would require;
PR3.02 – specify the physical resources their venture would require (e.g., office or work space,
equipment, machinery);
PR3.03 – differentiate between the resources required by their venture that are categorized as fixed
costs and those that are variable costs.
Management
PR4.01 – establish clear, measurable, short- and long-term plans for themselves and their venture;
PR4.02 – describe the style of leadership most appropriate for managing their venture;
PR4.03 – propose the most productive way to organize the people and tasks for their new venture;
PR4.04 – describe how people, tasks, and resource use would be supervised effectively;
PR4.05 – determine the records (including financial records) that should be kept and maintained for their
venture;
PR4.06 – determine how computer software could be used to maintain accurate business records for
their venture.
Legal Requirements
PR5.01 – determine the legal requirements and estimated costs of establishing the form of business
ownership for their venture (e.g., sole proprietorship, partnership, corporation);
PR5.02 – describe the process for registering the business name as required by law;
PR5.03 – identify municipal requirements regarding possible sites for their venture (e.g., local zoning
regulations, licensing requirements, by-laws);
PR5.04 – describe how they would obtain patent, copyright, and/or trademark protection;
PR5.05 – compare the types and costs of insurance available for their venture.
Targeting Customers
Overall Expectations
TCV.01 · analyse the size and composition of the potential market for their venture;
TCV.02 · develop effective promotional strategies for their venture;
TCV.03 · evaluate effective growth strategies.
Market Research
TC1.01 – describe the potential customers for their venture;
TC1.02 – analyse strategies (e.g., pricing, promotion, distribution) for marketing their product or service;
TC1.03 – analyse the impact of competition on their venture (e.g., on new opportunities, on future
growth, on pricing policies);
TC1.04 – explain the importance of forecasting sales for various time frames.
Promotional Strategies
TC2.01 – develop an initial promotional strategy to launch their venture;
TC2.02 – develop a promotional strategy to help them establish and maintain an identity for their
venture;
Ministry of Education
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 4
TC2.03 – evaluate the responses to their strategy in order to determine whether and what changes are
necessary.
Growth Strategies
TC3.01 – describe their vision of success for their venture after one year, three years, and five years;
TC3.02 – compare the advantages and disadvantages of pursuing continuous growth as a goal for a
business venture;
TC3.03 – describe effective growth strategies used by other entrepreneurs;
TC3.04 – analyse growth strategies that could be incorporated by the new venture (e.g., offering new
products or services, developing new pricing policies, finding new channels of distribution);
TC3.05 – prepare a cost/benefit analysis of possible expansion strategies (e.g., franchising, acquisition
of a competitor’s business, establishing new branches).
Developing a Venture Plan
Overall Expectations
VPV.01 · produce the production plan, marketing plan, human resources plan, management plan, and
financial plan that are most appropriate for a proposed venture;
VPV.02 · incorporate the production plan, marketing plan, human resources plan, management plan, and
financial plan in an overall venture plan, using appropriate computer software;
VPV.03 · summarize the responses to their venture plan from peers, teachers, advisers, relatives,
community members, potential investors or lenders, and experts in the field;
VPV.04 · assess the probability of the new venture’s success on the basis of a revised and final
venture plan.
Developing the Plan
VP1.01 – determine the components of their venture plan;
VP1.02 – develop the appropriate production, marketing, human resources, management, and financial
components of their venture plan.
Drafting the Plan
VP2.01 – compare models of venture-planning frameworks;
VP2.02 – compare various types of computer software developed to assist venture planning;
VP2.03 – generate a draft version of their venture plan using appropriate software.
Evaluating the Plan
VP3.01 – identify the individuals in their school and community who could assess their venture plan
(e.g., peers, teachers, advisers, investors, bankers, relatives);
VP3.02 – organize ways for selected individuals to respond to their venture plan;
VP3.03 – determine the revisions that should be made to their venture plan on the basis of the
responses.
Producing the Plan
VP4.01 – produce a revised and final version of their venture plan;
VP4.02 – determine whether or not they will pursue the venture, in light of their evaluation.
Ministry of Education
doc_810181358.pdf
In this particular brief detail resolve entrepreneurial studies venture planning, grade 12, college expectations.
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 1
Challenges of a Venture Start-up
Overall Expectations
VSV.01 · analyse the challenges and opportunities of the start-up phase of a business life cycle;
VSV.02 · compare the advantages enjoyed by young entrepreneurs with the challenges they face;
VSV.03 · evaluate the key components, appropriate formats, and presentation styles of venture plans.
Start-up Challenges and Opportunities
VS1.01 – explain the stages in the life cycle of a business;
VS1.02 – summarize the factors that contribute to the success or failure of a new venture (e.g.,
adequacy or inadequacy of capitalization, management and risk-management skills,
technological skills and equipment; economic conditions; government policies; effects of
globalization);
VS1.03 – analyse the conditions (e.g., competitive, economic, demographic) facing ventures starting up
in various markets.
Advantages and Challenges Related to Youth
VS2.01 – summarize the advantages and disadvantages experienced by young entrepreneurs because
of their youth;
VS2.02 – describe how young entrepreneurs might benefit from specific advantages of youth;
VS2.03 – describe strategies to help entrepreneurs who face challenges because of their youth.
The Venture Plan
VS3.01 – identify and describe the components of a venture plan;
VS3.02 – compare a number of business plans in terms of their content, thoroughness, clarity,
organization, impact, and utility;
VS3.03 – describe an exemplary venture plan and explain why it is exemplary.
Venture Conception
Overall Expectations
VCV.01 · summarize entrepreneurial opportunities in their community;
VCV.02 · evaluate entrepreneurial opportunities in their community in order to select one well suited to
their interests, experience, and capabilities;
VCV.03 · generate ideas that match their selected entrepreneurial opportunity;
VCV.04 · assess the ideas to select the one most appropriate to a new venture concept;
VCV.05 · analyse the factors that would influence their selection of a specific venture concept.
Identifying Entrepreneurial Opportunities
VC1.01 – identify perceived problems in their communities;
VC1.02 – summarize what many people in their community might need or want;
VC1.03 – explain how things in their community could be improved;
VC1.04 – identify community needs, wants, and problems that they think could best be addressed by a
not-for-profit venture, and explain why they think so.
Evaluating Opportunities
VC2.01 – relate needs, wants, and problems identified in their community to their own experience,
knowledge, and abilities to solve or satisfy them;
VC2.02 – analyse the opportunities for creating a new venture that are most suited to their particular
entrepreneurial abilities;
Ministry of Education
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 2
VC2.03 – assess the size of the potential target market for the new venture;
VC2.04 – determine the most promising opportunity for the student venture.
Generating Ideas
VC3.01 – identify ways in which creative ideas can be generated (e.g., mind mapping, brainstorming);
VC3.02 – describe the situations and conditions in which they tend to be most creative;
VC3.03 – list possible ideas for the identified opportunity.
Assessing Ideas
VC4.01 – select one idea for a venture that they believe best addresses the identified opportunity;
VC4.02 – summarize what others think of their idea;
VC4.03 – determine whether others have tried this idea and evaluate the success of those attempts;
VC4.04 – describe the potential market for their idea (e.g., composition, size, degree of acceptance of
the product or service);
VC4.05 – decide whether their idea is feasible, is the best among alternatives, and is consistent with
their interests and experience.
The Venture Concept
VC5.01 – compare the various types of ventures (e.g., offering a service compared with producing a
good, selling retail compared with selling wholesale);
VC5.02 – compare the various forms of business ownership (e.g., sole proprietorship, partnership,
corporation, cooperative, franchise);
VC5.03 – determine the type of venture and form of business ownership most appropriate to their
selected opportunity and idea;
VC5.04 – describe the elements of a mission statement (e.g., business philosophy, vision, goals,
objectives).
Preparing for Start-up
Overall Expectations
PRV.01 · organize the information and sources of information needed for the successful start-up of a
new venture;
PRV.02 · compare the possible sources of financing for the venture;
PRV.03 · analyse the resource needs of their venture;
PRV.04 · assess their ability to manage their venture;
PRV.05 · determine the ancillary requirements of the new venture.
Information
PR1.01 – establish a network of contacts that can help them collect the information they require for
their new venture;
PR1.02 – identify public and private secondary sources of useful information (e.g., the Yellow Pages,
local business directories, the Internet, government and industry statistical reports);
PR1.03 – summarize the information they gather from primary and secondary sources.
Financing
PR2.01 – analyse the consequences of overestimating or underestimating the capital needed to launch
their venture;
PR2.02 – estimate the amount of capital that would be required to launch their venture;
Ministry of Education
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 3
PR2.03 – identify the advantages and disadvantages of various sources of capital for their new
venture;
PR2.04 – propose an effective strategy for raising capital for their venture.
Resources
PR3.01 – determine the human resources (e.g., types of employees) and related supports (e.g., benefit
plans, training programs) their venture would require;
PR3.02 – specify the physical resources their venture would require (e.g., office or work space,
equipment, machinery);
PR3.03 – differentiate between the resources required by their venture that are categorized as fixed
costs and those that are variable costs.
Management
PR4.01 – establish clear, measurable, short- and long-term plans for themselves and their venture;
PR4.02 – describe the style of leadership most appropriate for managing their venture;
PR4.03 – propose the most productive way to organize the people and tasks for their new venture;
PR4.04 – describe how people, tasks, and resource use would be supervised effectively;
PR4.05 – determine the records (including financial records) that should be kept and maintained for their
venture;
PR4.06 – determine how computer software could be used to maintain accurate business records for
their venture.
Legal Requirements
PR5.01 – determine the legal requirements and estimated costs of establishing the form of business
ownership for their venture (e.g., sole proprietorship, partnership, corporation);
PR5.02 – describe the process for registering the business name as required by law;
PR5.03 – identify municipal requirements regarding possible sites for their venture (e.g., local zoning
regulations, licensing requirements, by-laws);
PR5.04 – describe how they would obtain patent, copyright, and/or trademark protection;
PR5.05 – compare the types and costs of insurance available for their venture.
Targeting Customers
Overall Expectations
TCV.01 · analyse the size and composition of the potential market for their venture;
TCV.02 · develop effective promotional strategies for their venture;
TCV.03 · evaluate effective growth strategies.
Market Research
TC1.01 – describe the potential customers for their venture;
TC1.02 – analyse strategies (e.g., pricing, promotion, distribution) for marketing their product or service;
TC1.03 – analyse the impact of competition on their venture (e.g., on new opportunities, on future
growth, on pricing policies);
TC1.04 – explain the importance of forecasting sales for various time frames.
Promotional Strategies
TC2.01 – develop an initial promotional strategy to launch their venture;
TC2.02 – develop a promotional strategy to help them establish and maintain an identity for their
venture;
Ministry of Education
Entrepreneuri al Studi es: Venture Pl anni ng, Grade 12, Col l ege
Expectati ons
BDV4C
Page 4
TC2.03 – evaluate the responses to their strategy in order to determine whether and what changes are
necessary.
Growth Strategies
TC3.01 – describe their vision of success for their venture after one year, three years, and five years;
TC3.02 – compare the advantages and disadvantages of pursuing continuous growth as a goal for a
business venture;
TC3.03 – describe effective growth strategies used by other entrepreneurs;
TC3.04 – analyse growth strategies that could be incorporated by the new venture (e.g., offering new
products or services, developing new pricing policies, finding new channels of distribution);
TC3.05 – prepare a cost/benefit analysis of possible expansion strategies (e.g., franchising, acquisition
of a competitor’s business, establishing new branches).
Developing a Venture Plan
Overall Expectations
VPV.01 · produce the production plan, marketing plan, human resources plan, management plan, and
financial plan that are most appropriate for a proposed venture;
VPV.02 · incorporate the production plan, marketing plan, human resources plan, management plan, and
financial plan in an overall venture plan, using appropriate computer software;
VPV.03 · summarize the responses to their venture plan from peers, teachers, advisers, relatives,
community members, potential investors or lenders, and experts in the field;
VPV.04 · assess the probability of the new venture’s success on the basis of a revised and final
venture plan.
Developing the Plan
VP1.01 – determine the components of their venture plan;
VP1.02 – develop the appropriate production, marketing, human resources, management, and financial
components of their venture plan.
Drafting the Plan
VP2.01 – compare models of venture-planning frameworks;
VP2.02 – compare various types of computer software developed to assist venture planning;
VP2.03 – generate a draft version of their venture plan using appropriate software.
Evaluating the Plan
VP3.01 – identify the individuals in their school and community who could assess their venture plan
(e.g., peers, teachers, advisers, investors, bankers, relatives);
VP3.02 – organize ways for selected individuals to respond to their venture plan;
VP3.03 – determine the revisions that should be made to their venture plan on the basis of the
responses.
Producing the Plan
VP4.01 – produce a revised and final version of their venture plan;
VP4.02 – determine whether or not they will pursue the venture, in light of their evaluation.
Ministry of Education
doc_810181358.pdf