Explain why it is important for an entrepreneur to have a business plan.
Financial Concepts
Enumerate start-up costs for a new or expanding business and identify possible sources of funding.
Examples: savings, outside investments, loans, grants
Explain financial concepts and tools used by entrepreneurs in making business decisions.
Identify and explain the components of common financial documents.
Examples: balance sheets, income statements, cash flow statements
Explain terms and concepts associated with starting and running a business.
Examples: fixed costs, variable costs, break-even point, profit
Describe financial challenges encountered by small business owners.
Examples: managing cash flow, budgeting, securing funding, handling unforeseen expenses, managing debt, making marketing decisions
Describe advantages and disadvantages of various types of funding for small businesses.
Examples: personal loans, commercial loans, personal savings, sponsorships
E-commerce Opportunities
Research and share information about ways entrepreneurs can effectively utilize the Internet.
Identify business opportunities afforded by the Internet which are not available in other venues.
Describe the advantages and disadvantages of using the Internet to do business.
Evaluate a variety of websites in terms of functionality, attractiveness, and customer usability.
Exploring Business Management and Administration, Finance, and Marketing Clusters
Foundational Standards
Incorporate safety procedures in handling, operating, and maintaining tools and machinery; handling materials; utilizing personal protective equipment; maintaining a safe work area; and handling hazardous materials and forces.
Demonstrate effective workplace and employability skills, including communication, awareness of diversity, positive work ethic, problem-solving, time management, and teamwork.
Explore the range of careers available in the field and investigate their educational requirements, and demonstrate job-seeking skills including resume-writing and interviewing.
Advocate and practice safe, legal, responsible, and ethical use of information and technology tools specific to the industry pathway.
Participate in a Career and Technical Student Organization (CTSO) to increase knowledge and skills and to enhance leadership and teamwork.
Discuss and demonstrate ways to value diversity.
Exploring Business Careers
List the Alabama career pathways in the Business Management and Administration Cluster.
Describe the Business Management and Administration Cluster and explain what someone in the field might do.
Describe one career from each pathway in the Alabama Career and Technical Education Business Management and Administration Cluster.
Research and create a visual presentation outlining the educational requirements and salaries for an entry-level, mid-level, and upper management position within the business field.
Exploring Marketing Careers
List the Alabama career pathways in the Marketing Cluster.
Describe the Marketing Cluster and explain what someone in the marketing field might do.
Describe one career from each pathway in the Alabama Career and Technical Education Marketing Cluster.
Research and create a visual presentation outlining the educational requirements and salaries for an entry-level, mid-level, and upper management position within the marketing field.
Exploring Finance Careers
List the Alabama career pathways in the Finance Cluster.
Describe the Finance Cluster and explain what someone in the finance field might do.
Describe one career from each pathway in the Alabama Career and Technical Education Finance Cluster.
