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Intro to Business



Standards and Benchmarks


1.0  Evaluate whether he/she should become an entrepreneur

1.1  Define entrepreneurship

1.2  Learn about entrepreneurship in history

1.3  Identify the impact of entrepreneurs and small business today

1.4  Identify the characteristics of successful entrepreneurs

1.5  Assess what it takes to succeed business

1.6  Recognize different businesses that could be started

1.7  Identify personal goals


2.0  Prepare to become an entrepreneur by selecting a type of ownership

2.1  Identify the advantages and disadvantages of purchasing an existing business

2.2  Explain the steps involved in buying a business

2.3  Recognize the advantages and disadvantages of joining a family business

2.4  Evaluate franchise ownership

2.5  Recognize the advantages and disadvantages of starting a new business

2.6  Evaluate the different legal forms for a business


3.0  Examine how to locate and set up for business

3.1  Research retail location possibilities

3.2  Begin to select a location

3.3  Examine a location for a service business

3.4  Select a location for an industrial business

3.5  Examine operating a business from home

3.6  Evaluate leasing versus buying space

3.7  Consider the costs and kinds of leases

3.8  Design the layout for different types of businesses

3.9  Acquire equipment and supplies by evaluating different vendors

3.10  Determine the level of inventory needed for a business


4.0  Examine how to market a business

4.1  Select a product mix, product features, and positioning for goods

4.2  Identify channels of distribution for product or service

4.3  Price the products or services your business sells using various methods

4.4  Use advertising to promote your business

4.5  Study publicity as a promotional tool

4.6  Evaluate the role of selling in a business

4.7  Evaluate other kinds of promotion

4.8  Set short-, medium-, and long-term goals for business

4.9  Write your marketing plan


5.0  Identify how to hire and manage a staff

5.1  Determine the positions a business needs

5.2  Recruit, interview, and select an employee

5.3  Consider alternatives to hiring permanent staff

5.4  Determine the amount of pay for employees

5.5  Identify a benefits portion of a compensation package

5.6  Lead employees by developing a management style and desirable leadership qualities

5.7  Motivate your employees by delegating responsibility and listening

5.8  Evaluate your employees


6.0  Demonstrate interpersonal, teamwork, and leadership skills necessary to function in multicultural business settings

6.1  Use a variety of team membership skills in different workplace settings

6.2  Understand how to work with team members from diverse backgrounds in the workplace

6.3  Know how to manage conflict within the workplace

6.4  Understand the various roles and responsibilities of a team member


7.0  Apply problem-solving strategies to all facets of business

7.1  Know how to use a process to solve workplace problems and make decisions, individually and in a group