Skills Standards ENTREPRENEUR OD30911

Transcription

1 Skills Standards ENTREPRENEUR OD30911

2 COMPETENCY-BASED EDUCATION: OKLAHOMA S RECIPE FOR SUCCESS BY THE INDUSTRY FOR THE INDUSTRY Oklahoma s CareerTech system of competency-based education uses industry professionals and certification standards to identify the knowledge and abilities needed to master an occupation. This industry input provides the foundation for development of instructional materials that help prepare the comprehensively trained, highly skilled employees demanded by our workplace partners. TOOLS FOR SUCCESS CareerTech relies on three basic instructional components to deliver competency-based instruction: skills standards, curriculum materials, and competency assessments. Skills standards provide the foundation for competency-based instruction in Oklahoma s CareerTech system. The skills standards outline the knowledge, skills, and abilities needed to perform related jobs within an industry. Skills standards are aligned with national skills standards; therefore, a student trained to the skills standards possesses technical skills that make him/her employable in both state and national job markets. Curriculum materials contain information and activities that teach students the knowledge and skills outlined in the skills standards. In addition to complementing classroom instruction, curriculum resources provide supplemental activities to enhance learning and provide hands-on training experiences. Competency Assessments test the student over material outlined in the skills standards and taught using the curriculum materials. When used with classroom performance evaluations, written competency assessments provide a means of measuring occupational readiness. Although each of these components satisfy a unique purpose in competency-based education, they work together to reinforce the skills and abilities students need to gain employment and succeed on the job. MEASURING SUCCESS Written competency assessments are used to evaluate student performance. Results reports communicate competency assessment scores to students and provide a breakdown of assessment results by duty area. The results breakdown shows how well the student has mastered skills needed to perform major job functions and identifies areas of job responsibility that may require additional instruction and/or training. Group analysis of student results also provides feedback to instructors seeking to improve the effectiveness of career and technology training. Performance patterns in individual duties indicate opportunities to evaluate training methods and customize instruction. TRUE TO OUR PURPOSE We prepare Oklahomans to succeed in the workplace, in education, and in life defines the mission of Oklahoma CareerTech and its competency-based system of instruction. Skills standards, curriculum, and assessments that identify and reinforce industry expectations provide accountability for programs and assure CareerTech s continued role in preparing skilled workers for a global job market The following skills standards are drawn from the 2004 National Content Standards for Entrepreneurship Education. The format was revised to conform to the model utilized for other skills standards within the Oklahoma Department of Career and Technology Education system.

3 About the Consortium for Entrepreneurship Education The Consortium for Entrepreneurship Education (the Consortium) has been providing leadership and gathering enthusiasm for teaching entrepreneurship in our schools since The Consortium was formed in response to a Policy Paper from the US Department of Education, signed by then Secretary Terrell Bell. His concept was that entrepreneurship should be part of the curriculum for all vocational programs in secondary and post-secondary education. Membership in the Consortium started with State Directors of Vocational Education who continue to be part of the Consortium leadership. Over the years, as the concept of entrepreneurship education spread to the broader K-12 education system and higher education, membership has expanded to include colleges and universities, local school systems, foundations, private businesses, and national organizations of many different types. Currently over 60 institutions and organizations - from inside and outside the US - are members of the Consortium. For additional information please contact: The Consortium for Entrepreneurship Education Columbus, Ohio Copyright 2010 Oklahoma Department of Career and Technology Education All rights reserved Printed in the United States of America by the Oklahoma Department of Career and Technology Education Stillwater, Oklahoma The Oklahoma Department of Career and Technology Education does not discriminate on the basis of race, creed, color, national origin, sex, age, veteran status, or qualified handicap.

4 ENTREPRENEUR SKILLS STANDARDS Frequency and Criticality Ratings Duty A: Understand the Concepts and Processes Associated with Successful Entrepreneurial Success (Entrepreneurial Processes) Duty B: Understand the Personal Traits/Behaviors Associated with Successful Entrepreneurial Performance (Entrepreneurial Traits/Behaviors) Duty C: Understand Fundamental Business Concepts That Affect Business Decision Making (Business Foundations) Duty D: Understand Concepts, Strategies, and Systems Needed to Interact Effectively With Others (Communications and Interpersonal Skills) Duty E: Understand the Concepts and Procedures Needed for Basic Computer Operations (Digital Skills) Duty F: Understand the Basic Economic Principles and Concepts Fundamental to Entrepreneurship/Small- Business Ownership (Economics) Duty G: Understand Personal Money-Management Concepts, Procedures, and Strategies (Financial Literacy) Duty H: Understand Concepts and Strategies Needed for Career Exploration, Development, and Growth (Professional Development) Duty I: Identify How to Change System Settings, Install and Remove Software (Financial Management) Duty J: Understand the Concepts, Systems, and Strategies Needed to Acquire, Motivate, Develop, and Terminate Staff (Human Resource Management) Duty K: Understand the Concepts, Systems, and Tools Needed to Access, Process, Maintain, Evaluate, and Disseminate Information for Business Decision-Making (Information Management) Duty L: Understand the Concepts, Processes, and Systems Needed to Determine and Satisfy Customer Needs/Wants/Expectations, Meet Business Goals/Objectives, and Create New Product/Service Ideas (Marketing Management) Duty M: Understand the Processes and Systems Implemented to Facilitate Daily Business Operations (Operations Management) Duty N: Understand the Concepts, Strategies, and Systems that Businesses Implement and Enforce to Minimize Loss (Risk Management) Duty O: Understand the Concepts, Strategies, and Systems Needed to Guide the Overall Business Organization (Strategic Management) Frequency: represents how often the task is performed on the job. Frequency rating scales vary for different occupations. The rating scale used in this publication is presented below: 1 = less than once a week 2 = at least once a week 3 = once or more a day Criticality: denotes the level of consequence associated with performing a task incorrectly. The rating scale used in this publication is presented below: 1 = slight 2 = moderate 3 = extreme OD30911: Entrepreneur 1

5 DUTY A: Understand the Concepts and Processes Associated with Successful Entrepreneurial Success (Entrepreneurial Processes) Discovery A.01 Explain the need for entrepreneurial discovery 1/2 A.02 Discuss entrepreneurial discovery processes 1/2 A.03 Assess global trends and opportunities 2/3 A.04 Determine opportunities for venture creation 2/2 A.05 Assess opportunities for venture creation 2/2 A.06 Describe idea-generation methods 1/2 A.07 Generate venture ideas 2/2 A.08 Determine feasibility of ideas 2/2 Concept Development A.09 Describe entrepreneurial planning considerations 2/3 A.10 Explain tools used by entrepreneurs for venture planning 2/2 A.11 Assess start-up requirements 2/2 A.12 Assess risks associated with venture 2/3 A.13 Describe external resources useful to entrepreneurs during concept development 2/3 A.14 Assess the need to use external resources for concept development 2/3 A.15 Describe strategies to protect intellectual property 2/2 A.16 Use components of a business plan to define venture idea 3/3 Resourcing A.17 Distinguish between debt and equity financing for venture creation 1/3 A.18 Describe processes used to acquire adequate financial resources for venture 1/3 creation/start-up A.19 Select sources to finance venture creation/start-up 1/3 A.20 Explain factors to consider in determining a venture's human-resource needs 1/3 A.21 Describe considerations in selecting capital resources 1/3 A.22 Acquire capital resources needed for the venture 1/2 A.23 Assess the costs/benefits associated with resources 2/3 Actualization A.24 Use external resources to supplement entrepreneur's expertise 2/3 A.25 Explain the complexity of business operations 2/3 A.26 Evaluate risk-taking opportunities 2/3 A.27 Explain the need for business systems and procedures 2/3 A.28 Describe the use of operating procedures 2/3 A.29 Explain methods/processes for organizing work flow 2/3 A.30 Develop and/or provide product/service 2/3 A.31 Use creativity in business activities/decisions 2/3 A.32 Explain the impact of resource productivity on venture success 1/3 A.33 Create processes for ongoing opportunity recognition 2/3 A.34 Adapt to changes in business environment 3/3 Harvesting OD30911: Entrepreneur 2

6 A.35 Explain the need for continuation planning 2/3 A.36 Describe methods of venture harvesting 2/3 A.37 Evaluate options for continued venture involvement 2/3 A.38 Develop exit strategies 1/2 DUTY B: Understand the Personal Traits/Behaviors Associated with Successful Entrepreneurial Performance (Entrepreneurial Traits/Behaviors) Leadership B.01 Demonstrate honesty and integrity 3/3 B.02 Demonstrate responsible behavior 3/3 B.03 Demonstrate initiative 3/3 B.04 Demonstrate ethical work habits 3/3 B.05 Exhibit passion for goal attainment 2/3 B.06 Recognize others' efforts 2/3 B.07 Lead others using positive statements 3/3 B.08 Develop team spirit 2/3 B.09 Enlist others in working toward a shared vision 2/3 B.10 Share authority, when appropriate 2/3 B.11 Value diversity 2/3 Personal Assessment B.12 Describe desirable entrepreneurial personality traits 1/2 B.13 Determine personal biases and stereotypes 1/2 B.14 Determine interests 1/2 B.15 Evaluate personal capabilities 1/2 B.16 Conduct self-assessment to determine entrepreneurial potential 1/2 Personal Management B.17 Maintain positive attitude 2/3 B.18 Demonstrate interest and enthusiasm 3/3 B.19 Make decisions 3/3 B.20 Develop an orientation to change 2/3 B.21 Demonstrate problem-solving skills 2/3 B.22 Assess risks 2/3 B.23 Assume personal responsibility for decisions 3/3 B.24 Use time-management principles 3/3 B.25 Develop tolerance for ambiguity 2/3 B.26 Use feedback for personal growth 2/3 B.27 Demonstrate creativity 2/3 B.28 Set personal goals 2/3 OD30911: Entrepreneur 3

7 DUTY C: Understand Fundamental Business Concepts That Affect Business Decision Making (Business Foundations) Business Concepts 1/2 C.01 Explain the role of business in society 1/2 C.02 Describe types of business activities 1/3 C.03 Explain types of businesses 1/2 C.04 Explain opportunities for creating added value 2/3 C.05 Determine issues and trends in business 2/3 C.06 Describe crucial elements of a quality culture/continuous quality improvement 2/2 C.07 Describe the role of management in the achievement of quality 2/2 C.08 Explain the nature of managerial ethics 2/3 C.09 Describe the need for and impact of ethical business practices 2/3 Business Activities C.10 Explain marketing management and its importance in a global economy 2/3 C.11 Describe marketing functions and related activities 2/3 C.12 Explain the nature and scope of operations management 2/3 C.13 Explain the concept of management 2/3 C.14 Explain the concept of financial management 2/3 C.15 Explain the concept of human resource management 2/3 C.16 Explain the concept of risk management 2/3 C.17 Explain the concept of strategic management 2/3 DUTY D: Understand Concepts, Strategies, and Systems Needed to Interact Effectively With Others (Communications and Interpersonal Skills) Fundamentals of Communication D.01 Explain the nature of effective communications 3/3 D.02 Apply effective listening skills 3/3 D.03 Use proper grammar and vocabulary 3/3 D.04 Reinforce service orientation through communication 3/3 D.05 Explain the nature of effective verbal communications 3/3 D.06 Address people properly 3/3 D.07 Handle telephone calls in a businesslike manner 2/3 D.08 Make oral presentations 2/3 D.09 Explain the nature of written communications 2/3 D.10 Write business letters 2/3 D.11 Write informational messages 2/3 D.12 Write inquiries 1/3 D.13 Write persuasive messages 1/3 D.14 Prepare simple written reports 1/3 D.15 Prepare complex written reports 1/3 OD30911: Entrepreneur 4

8 D.16 Use communications technologies/systems (e.g., , faxes, voice mail, cell phones, etc.) Staff Communications D.17 Follow directions 3/3 D.18 Explain the nature of staff communication 2/3 D.19 Give directions for completing job tasks 2/3 D.20 Conduct staff meetings 2/3 Ethics in Communication D.21 Respect the privacy of others 2/3 D.22 Explain ethical considerations in providing information 1/3 Group Working Relationships D.23 Treat others fairly at work 3/3 D.24 Develop cultural sensitivity 2/3 D.25 Foster positive working relationships 3/3 D.26 Participate as a team member 3/3 Dealing with Conflict D.27 Demonstrate self control 3/3 D.28 Show empathy for others 2/3 D.29 Use appropriate assertiveness 3/3 D.30 Demonstrate negotiation skills 2/3 D.31 Handle difficult customers/clients 2/3 D.32 Interpret business policies to customers/clients 2/3 D.33 Handle customer/client complaints 2/3 D.34 Explain the nature of organizational change 2/3 D.35 Describe the nature of organizational conflict 2/3 D.36 Explain the nature of stress management 1/3 3/3 DUTY E: Understand the Concepts and Procedures Needed for Basic Computer Operations (Digital Skills) Computer Basics E.01 Use basic computer terminology 3/3 E.02 Apply basic commands of operating system software 3/3 E.03 Employ desktop operating skills 3/3 E.04 Determine file organization 2/3 E.05 Demonstrate system utilities for file management 2/3 E.06 Compress or alter files 2/2 E.07 Use reference materials to access information 2/3 E.08 Use menu systems 2/3 E.09 Use control panel components 2/2 E.10 Access data through various computer drives 3/3 Computer Applications OD30911: Entrepreneur 5

9 E.11 Demonstrate basic search skills on the Web 2/3 E.12 Evaluate credibility of Internet resources 2/2 E.13 Demonstrate file management skills 2/3 E.14 Communicate by computer 2/3 E.15 Solve routine hardware and software problems 2/3 E.16 Operate computer-related hardware peripherals 2/3 E.17 Explain the nature of e-commerce 1/2 E.18 Describe the impact of the Internet on business 1/3 E.19 Develop basic website 2/3 DUTY F: Understand the Basic Economic Principles and Concepts Fundamental to Entrepreneurship/Small-Business Ownership (Economics) Basic Concepts F.01 Distinguish between economic goods and services 1/2 F.02 Explain the factors of production 1/2 F.03 Explain the concept of scarcity 1/2 F.04 Explain the concept of opportunity costs 1/2 F.05 Describe the nature of economics and economic activities 1/2 F.06 Determine forms of economic utility created by business activities 1/2 F.07 Explain the principles of supply and demand 1/3 F.08 Describe the concept of price 1/2 Cost-Profit Relationships F.09 Explain the concept of productivity 1/2 F.10 Describe cost/benefit analysis 1/3 F.11 Analyze the impact of specialization/division of labor on productivity 1/2 F.12 Explain the concept of organized labor and business 1/2 F.13 Explain the law of diminishing returns 1/2 F.14 Describe the concept of economies of scale 1/2 Economic Indicators/Trends F.15 Explain measures used to analyze economic conditions 1/2 F.16 Explain the nature of the Consumer Price Index 1/2 F.17 Explain the concept of Gross Domestic Product 1/2 F.18 Determine the impact of business cycles on business activities 1/2 Economic Systems F.19 Explain the types of economic systems 1/2 F.20 Describe the relationship between government and business 1/2 F.21 Assess impact of government actions on business ventures 1/2 F.22 Explain the concept of private enterprise 1/2 F.23 Assess factors affecting a business's profit 1/2 F.24 Determine factors affecting business risk 1/2 F.25 Explain the concept of competition 1/2 OD30911: Entrepreneur 6

10 F.26 Describe types of market structures 1/3 F.27 Determine the impact of small business/entrepreneurship on market economies 1/3 International Concepts F.28 Explain the nature of international trade 1/3 F.29 Describe small-business opportunities in international trade 1/3 F.30 Determine the impact of cultural and social environments on world trade 1/2 F.31 Explain the impact of exchange rates on trade 1/2 F.32 Evaluate influences on a nation's ability to trade 1/2 DUTY G: Understand Personal Money-Management Concepts, Procedures, and Strategies (Financial Literacy) Money Basics G.01 Explain forms of financial exchange (cash, credit, debit, etc.) 2/3 G.02 Describe functions of money (medium of exchange, unit of measure, store of 2/3 value) G.03 Describe the sources of income (wages/salaries, interest, rent, dividends, 2/3 transfer payments, etc.) G.04 Recognize types of currency (paper money, coins, banknotes, government 2/3 bonds, treasury notes, etc.) G.05 Read and interpret a pay stub 2/3 G.06 Explain the time value of money 2/3 G.07 Describe costs associated with credit 2/3 G.08 Explain legal responsibilities associated with use of money 2/3 G.09 Use money effectively 2/3 Financial Services G.10 Describe services provided by financial institutions 1/2 G.11 Explain legal responsibilities of financial institutions 1/2 G.12 Explain costs associated with use of financial services 1/2 G.13 Select financial institution 1/2 G.14 Open account with financial institution 1/2 Personal Money Management G.15 Set financial goals 2/3 G.16 Develop savings plan 2/3 G.17 Develop spending plan 2/3 G.18 Make deposits to and withdrawals from account 2/3 G.19 Complete financial instruments 2/3 G.20 Maintain financial records 2/3 G.21 Read and reconcile financial statements 2/3 G.22 Correct errors with account 2/3 G.23 Explain types of investments 1/3 G.24 Invest money 1/3 G.25 Develop personal budget 2/3 OD30911: Entrepreneur 7

11 G.26 Build positive credit history 2/3 G.27 Improve/repair creditworthiness 2/3 DUTY H: Understand Concepts and Strategies Needed for Career Exploration, Development, and Growth (Professional Development) Career Planning H.01 Evaluate career opportunities based on current/future economy 1/2 H.02 Analyze employer expectations in the business environment 1/3 H.03 Explain the rights of workers 1/2 H.04 Select and use sources of career information 1/2 H.05 Determine tentative occupational interest 1/2 H.06 Explain employment opportunities in entrepreneurship 1/2 Job-Seeking Skills H.07 Utilize job-search strategies 1/3 H.08 Complete a job application 1/3 H.09 Interview for a job 1/3 H.10 Write a follow-up letter after job interviews 1/3 H.11 Write a letter of application 1/3 H.12 Prepare a résumé 1/3 H.13 Describe techniques for obtaining work experience (e.g., volunteer activities, 1/2 internships) H.14 Explain the need for ongoing education as a worker 1/3 H.15 Explain possible advancement patterns for jobs 1/3 H.16 Determine skills needed to enhance career progression 1/3 Utilize resources that can contribute to professional development (e.g., trade 2/3 H.17 journals/ periodicals, professional/trade associations, classes/seminars, trade shows, and mentors) H.18 Use networking techniques for professional growth 1/3 DUTY I: Understand the Financial Concepts and Tools Used in Making Business Decisions (Financial Management) Accounting I.01 Explain accounting standards (GAAP) 1/3 I.02 Prepare estimated/projected income statement 2/3 I.03 Estimate cash-flow needs 2/3 I.04 Prepare estimated/projected balance sheet 2/3 I.05 Calculate financial ratios 1/3 I.06 Determine and deposit payroll taxes 1/3 I.07 File tax returns 1/3 Finance OD30911: Entrepreneur 8

12 I.08 Explain the purposes and importance of obtaining business credit 1/3 I.09 Make critical decisions regarding acceptance of bank cards 2/3 I.10 Establish credit policies 2/3 I.11 Develop billing and collection policies 2/3 I.12 Describe use of credit bureaus 1/2 I.13 Explain the nature of overhead/operating expenses 2/3 I.14 Determine financing needed to start a business 2/3 I.15 Determine risks associated with obtaining business credit 1/3 I.16 Explain sources of financial assistance 1/3 I.17 Explain loan evaluation criteria used by lending institutions 1/2 I.18 Select sources of business loans 1/2 I.19 Establish relationship with financial institutions 1/2 I.20 Complete loan application process 1/3 I.21 Determine business's value 1/3 Money Management I.22 Establish financial goals and objectives 1/3 I.23 Develop and monitor budget 2/3 I.24 Manage cash flow 3/3 I.25 Explain the nature of capital investment 1/3 I.26 Foster a positive financial reputation 2/3 I.27 Implement procedures for managing debt 1/3 I.28 Supervise/implement regular accounting procedures and financial reports 2/3 DUTY J: Understand the Concepts, Systems, and Strategies Needed to Acquire, Motivate, Develop, and Terminate Staff (Human Resource Management) Organizing J.01 Develop a personnel organizational plan 1/3 J.02 Develop job descriptions 1/3 J.03 Develop compensation plan/incentive systems 1/3 J.04 Organize work/projects for others 1/3 J.05 Delegate responsibility for job tasks 2/3 Staffing J.06 Determine hiring needs 1/3 J.07 Recruit new employees 1/3 J.08 Screen job applications/résumés 1/3 J.09 Interview job applicants 1/3 J.10 Select new employees 1/3 J.11 Negotiate new-hire's salary/pay 1/3 J.12 Dismiss/Fire employee 1/3 Training/Development J.13 Orient new employees (management's role) 1/3 OD30911: Entrepreneur 9

13 J.14 Conduct training class/program 1/3 J.15 Coach employees 2/3 Morale/Motivation J.16 Exhibit leadership skills 3/3 J.17 Encourage team building 2/3 J.18 Recognize/reward employees 1/3 J.19 Handle employee complaints/grievances 1/3 J.20 Ensure equitable opportunities for employees 2/3 J.21 Build organizational culture 2/2 Assessment J.22 Assess employee morale 1/3 J.23 Provide feedback on work efforts 1/3 J.24 Assess employee performance 1/3 J.25 Take remedial action with employee 1/3 J.26 Conduct exit interviews 1/3 DUTY K: Understand the Concepts, Systems, and Tools Needed to Access, Process, Maintain, Evaluate, and Disseminate Information for Business Decision-Making (Information Management) Record Keeping K.01 Explain the nature of business records 2/3 K.02 Maintain record of daily financial transactions 3/3 K.03 Record and report sales tax 2/3 K.04 Develop payroll record keeping system 2/3 K.05 Maintain personnel records 2/3 K.06 Maintain customer records 2/3 Technology K.07 Explain ways that technology impacts business 1/2 K.08 Use Personal Information Management/Productivity applications 2/2 K.09 Demonstrate writing/publishing applications 2/3 K.10 Demonstrate presentation applications 1/3 K.11 Demonstrate database applications 2/3 K.12 Demonstrate spreadsheet applications 2/3 K.13 Demonstrate collaborative/groupware applications 1/3 K.14 Determine venture's technology needs 1/2 Information Acquisition K.15 Select sources of business start-up information 1/2 K.16 Conduct an environmental scan to obtain marketing information 1/2 K.17 Monitor internal records for marketing information 1/2 K.18 Determine underlying customer needs/frustrations 1/2 OD30911: Entrepreneur 10

14 DUTY L: Understand the Concepts, Processes, and Systems Needed to Determine and Satisfy Customer Needs/Wants/Expectations, Meet Business Goals/Objectives, and Create New Product/Service Ideas (Marketing Management) Product/Service Creation L.01 Explain methods to generate a product/service idea 2/3 L.02 Generate product/service ideas 2/3 L.03 Assess opportunities for import substitution 2/3 L.04 Determine product/service to fill customer need 2/3 L.05 Determine initial feasibility of product/service ideas 2/3 L.06 Plan product/service mix 2/3 L.07 Choose product name 2/3 L.08 Determine unique selling proposition 2/3 L.09 Develop strategies to position product/service 2/3 L.10 Build brand/image 2/3 L.11 Evaluate customer experience 2/3 Marketing-Information Management L.12 Explain the concept of market and market identification 1/3 L.13 Describe the role of situation analysis in the marketing-planning process 1/3 L.14 Determine market segments 2/3 L.15 Select target markets 2/3 L.16 Conduct market analysis 2/3 L.17 Explain the concept of marketing strategies 1/3 L.18 Describe the nature of marketing planning 1/3 L.19 Set a marketing budget 1/3 L.20 Develop marketing plan 1/3 L.21 Monitor and evaluate performance of marketing plan 2/3 Promotion L.22 Describe the elements of the promotional mix 2/3 L.23 Calculate advertising media costs 2/3 L.24 Select advertising media 2/3 L.25 Prepare a promotional budget 2/3 L.26 Develop promotional plan for a business 2/3 L.27 Write a news release 2/3 L.28 Obtain publicity 2/3 L.29 Select sales-promotion options 2/3 L.30 Write sales letters 2/3 L.31 Manage online (www) activities 2/3 L.32 Evaluate effectiveness of advertising 2/3 Pricing L.33 Calculate breakeven point 2/3 L.34 Explain factors affecting pricing decisions 2/3 OD30911: Entrepreneur 11

15 L.35 Establish pricing objectives 2/3 L.36 Select pricing strategies 2/3 L.37 Set prices 2/3 L.38 Adjust prices to maximize profitability 2/3 Selling L.39 Acquire product information for use in selling 2/3 L.40 Analyze product information to identify product features and benefits 2/3 L.41 Prepare for the sales presentation 2/3 L.42 Establish relationship with client/customer 3/3 L.43 Determine customer/client needs 3/3 L.44 Determine customer's buying motives for use in selling 2/3 L.45 Differentiate between consumer and organizational buying behavior 1/3 L.46 Recommend specific product 2/3 L.47 Convert customer/client objections into selling points 2/3 L.48 Close the sale 2/3 L.49 Demonstrate suggestion selling 2/3 L.50 Plan follow up strategies for use in selling 2/3 L.51 Process sales documentation 2/3 L.52 Prospect for customers 2/3 L.53 Plan strategies for meeting sales quotas 2/3 L.54 Analyze sales reports 2/3 L.55 Train staff to support sales efforts 2/3 L.56 Analyze technology for use in the sales function 2/3 L.57 Manage online sales process 2/3 DUTY M: Understand the Processes and Systems Implemented to Facilitate Daily Business Operations (Operations Management) Business Systems M.01 Plan business layout 1/3 M.02 Determine equipment needs 1/3 M.03 Document business systems and procedures 2/3 M.04 Establish operating procedures 1/3 M.05 Develop project plans 2/3 M.06 Analyze business processes and procedures 2/3 M.07 Implement quality improvement techniques 2/3 M.08 Evaluate productivity of resources 2/3 M.09 Manage computer-based operating systems 2/3 Channel Management M.10 Select business location 1/3 M.11 Select distribution channels 2/3 M.12 Develop and implement order-fulfillment processes 1/3 OD30911: Entrepreneur 12

16 Purchasing/Procurement M.13 Explain the buying process 1/3 M.14 Describe the nature of buyer reputation and vendor relationships 1/3 M.15 Establish company buying/purchasing policies 1/3 M.16 Conduct vendor search 2/3 M.17 Choose vendors 2/3 M.18 Negotiate contracts with vendors 2/3 M.19 Place orders 2/3 M.20 Barter with vendors 2/3 Daily Operations M.21 Schedule staff 2/3 M.22 Maintain inventory of products/supplies 3/3 M.23 Organize shipping/receiving 2/3 DUTY N: Understand the Concepts, Strategies, and Systems that Businesses Implement and Enforce to Minimize Loss (Risk Management) Business Risks N.01 Describe types of business risk 1/3 N.02 Determine ways that small businesses protect themselves against loss 1/3 N.03 Establish controls to prevent embezzlement/theft 2/3 N.04 Establish and implement systems to protect customer/employee confidentiality 2/3 N.05 Determine business's liabilities 2/3 N.06 Explain ways to transfer risk 2/3 N.07 Obtain insurance coverage 2/3 N.08 Develop strategies to protect computer (digital) data 2/3 N.09 Develop security policies and procedures 2/3 N.10 Establish safety policies and procedures 2/3 N.11 Protect assets from creditors 2/3 N.12 Establish parameters for staff responsibility/authority 2/3 N.13 Develop continuation plan 2/3 Legal Considerations N.14 Explain legal issues affecting businesses 1/3 N.15 Protect intellectual property rights 2/3 N.16 Select form of business ownership 1/3 N.17 Obtain legal documents for business operations 1/3 N.18 Describe the nature of businesses' reporting requirements 1/3 N.19 Adhere to personnel regulations 2/3 N.20 Implement workplace regulations (including OSHA, ADA) 2/3 N.21 Develop strategies for legal/government compliance 1/3 OD30911: Entrepreneur 13

17 DUTY O: Understand the Concepts, Strategies, and Systems Needed to Guide the Overall Business Organization (Strategic Management) Planning O.01 Conduct SWOT analysis 1/3 O.02 Conduct competitive analysis 1/2 O.03 Evaluate business acquisition options 1/2 O.04 Develop company goals/objectives 1/2 O.05 Develop business mission 1/2 O.06 Forecast income/sales 1/3 O.07 Conduct break-even analysis 1/2 O.08 Develop action plans 1/2 O.09 Develop business plan 2/3 Controlling O.10 Use budgets to control operations 2/2 O.11 Develop expense-control plans 1/2 O.12 Analyze cash-flow patterns 1/3 O.13 Interpret financial statements 1/3 O.14 Analyze operating results in relation to budget/industry 1/2 O.15 Track performance of business plan 1/3 OD30911: Entrepreneur 14