The student will be able to:
analyse
the characteristics of entrepreneurs and enterprising people
evaluate the contributions made by entrepreneurs
assess
their own entrepreneurial potential
The
Enterprising Person
describe the
characteristics, motivations, abilities, attitudes, and aptitudes of an
enterprising person;
identify and
describe some enterprising people;
describe the
contributions that enterprising people make in their school and community;
evaluate the
personal benefits of being an enterprising person;
explain
various ways in which they can be enterprising.
The
Entrepreneur
describe the
characteristics, motivations, abilities, attitudes, and aptitudes of an
entrepreneur;
distinguish
between an entrepreneur and an enterprising person;
explain the
advantages and the disadvantages of being an entrepreneur;
describe how a
variety of individuals have developed the skills and abilities of successful
entrepreneurs.
The
Contributions of Entrepreneurs
describe how
entrepreneurs can enhance consumer satisfaction (e.g., through problem solving,
innovation, invention, competition);
explain the
connection between entrepreneurial activities and job and wealth creation (e.g.,
effect on the labour market, community prosperity, and availability of venture
capital);
describe the
impact that local entrepreneurs have had on their community;
determine how
entrepreneurs have been agents of change.
Self-assessment
assess
themselves to identify the entrepreneurial characteristics they possess;
describe ways
in which they have been enterprising or entrepreneurial in the past;
analyse
opportunities they have had to develop entrepreneurial skills and
characteristics;
determine
their interest in potential enterprising or entrepreneurial careers.
The student will be
able to:
explain
the importance of invention and innovation to venture creation
analyse
various methods of generating opportunities and ideas for venture creation
generate realistic new ideas and identify possible opportunities for new
ventures
explain
the process of market research
identify
a specific opportunity that can become the basis for a venture plan
Invention
and Innovation
compare
invention and innovation;
identify
significant Canadian inventions and innovations;
describe the
needs and wants that Canadian inventions and innovations have satisfied;
summarize the
impact that specific Canadian inventions and innovations have had on peoples
lives;
explain the
relationship between innovation and technology;
describe how
entrepreneurs have used innovations and/or inventions to start new ventures.
Sources
of Opportunities and Ideas
distinguish
between an idea and an opportunity;
explain how
new ventures have been developed in response to consumer needs or wants;
describe new
goods and services that have been developed by improving upon existing goods and
services;
describe how
similar needs and wants have been satisfied in different ways;
identify, from
a variety of sources (e.g., books, magazines, personal observation, the
Internet), possible ideas for new ventures;
analyse
current economic and social trends in order to find ideas for new ventures.
Generating Ideas
identify
unsatisfied consumer needs and wants by applying a problem-solving model;
apply
creative-thinking strategies (e.g., mind mapping, brainstorming) to determine
possible solutions to an identified consumer problem;
select the
best idea for a new product or service by applying a decision-making model.
Market
Research
explain how to
determine whether the demand for a good or service exists;
describe the
characteristics (e.g., demographic, geographic, socio-economic) of potential
target markets;
evaluate the
potential competition for the new product or service;
describe
various methods of reaching potential target markets.
Choosing
an Opportunity
identify
potential opportunities for a new venture;
evaluate
new-venture opportunities to determine their viability (e.g., financial,
technological);
evaluate
new-venture opportunities in terms of the students personal skills and
interests;
choose a
specific opportunity as a basis for a new venture.
- explain the
process of market research;
- identify a
specific opportunity that can become the basis for a venture plan.
- explain how to
determine whether the demand for a good or service exists;
- describe the
characteristics of potential target markets;
- evaluate the
potential competition for the product or service;
- describe
various methods of reaching potential target markets.
- identify
potential opportunities for a new venture;
- evaluate
new-venture opportunities to determine their viability;
- evaluate
new-venture opportunities in terms of the students personal skills and
interests;
- choose a
specific opportunity as a basis for a new venture;
- assess
themselves to identify the entrepreneurial characteristics they possess;
- explain how
new ventures have been developed in response to consumer needs or wants;
- analyse
current economic and social trends in order to find ideas for new ventures.
- analyse the
resources that could be required to create a new venture;
- demonstrate an
understanding of the components of an effective production plan;
- demonstrate an
understanding of the components of an effective marketing plan.
- determine the
possible human resource needs for different types of ventures;
- specify the
land, buildings, capital, and equipment required for various types of ventures;
- demonstrate
the importance of inventory management for the entrepreneur;
- identify and
describe all the legal, insurance, and government regulatory requirements that
must be met in starting a new venture;
- describe the
services and infrastructure usually required for a new venture.
- summarize the
process involved in producing a new product or delivering a new service;
- determine the
possible roles of employees in a specific new venture;
- summarize the
goods that may be required by a new venture;
- analyse the
factors involved in acquiring the necessary goods for a new venture;
- determine ways
in which a new business might reduce start-up costs and financial risk.
- compare ways
in which specific goods or services can be distributed to customers;
- compare ways
of advertising and promoting a venture and its goods or services;
- determine
methods used to price a new product or service appropriately;
- produce a
marketing plan for a new product or service;
- describe the
characteristics of potential target markets;
- evaluate the
potential competition for the product or service;
- describe
various methods of reaching potential target markets.
- demonstrate
how a venture can establish clear, specific, and measurable financial
objectives;
- demonstrate
the purpose and structure of a cash-flow projection;
- compare
possible sources of capital required to meet a new ventures needs.
- compare
various financial goals that an entrepreneur might establish for a new business
venture;
- determine the
acceptable levels of profit and income for various types of new ventures;
- demonstrate an
understanding of the financial statements required by a new venture.
- summarize the
importance of cash-flow projection for a new venture;
- describe
situations that can lead to cask-flow problems for a new venture;
- distinguish
between a cash-flow statement and an income statement.
- explain how to
calculate the amount of start-up capital a new venture would require;
- describe
possible sources and methods of financing a new venture;
- compare the
advantages and disadvantages of different kinds of business financing;
- explain how
businesses can establish contingency plans if capital needs exceed the initial
investment.
- assess the
importance of having a venture plan;
- analyse the
components of a venture plan;
- develop a
venture plan;
- explain how to
evaluate and revise a venture plan.
- describe the
purpose of having a venture plan;
- demonstrate
the importance of having a plan that is written, organized according to a formal
and accepted structure, and attractively presented;
- determine the
people or organizations that might be interested in the venture plan;
- analyse the
components of the venture plan;
- outline the
key steps in preparing a venture;
- describe
references and sources of information and advice that may facilitate the
preparation of a venture plan.
- describe the
research required to develop the plan;
- compare
computer software obtained from banks, government departments, and private
companies that can assist entrepreneurs in preparing a venture plan;
- prepare a plan
for a new venture.
- explain how
people in the community may contribute to the evaluation and revision of a
venture plan;
- describe why
it is important for a venture plan to be flexible and adaptable;
- forecast
conditions that may require the revision of the plan;
- describe
contingency plans that an entrepreneur should have for a new venture.