Scope And Sequence Timeframe Unit Instructional Topics 3 Week(s) 4 Week(s) Power Standards Explain what an entrepreneur does Describe types of business ownership Write a business plan for an original business idea Differentiate between management and leadership and define their roles within a business Prepare for employment by completing a resume, cover letter, application, and participating in the interview process Prerequisites None Course Description This course is designed to provide an introduction to business organization, management, and entrepreneurial principles. Students learn to make decisions based on data, develop leadership skills, and select appropriate management styles for varying employee bases and situation. Students will participate in running a school store and writing a business plan. They will also participate in a leadership study and a career preparation unit. 18 Week(s) 3 Week(s) 3 Week(s) 3 Week(s) How do you start a business? Why is a business plan needed in an entrepreneurial venture? How do managers and leaders influence their employees and followers, thereby influencing the success (or lack thereof) of their businesses? How will your resume, cover letter, and interview abilities impact your employability? Google docs Microsoft Word Microsoft Excel computers Role of Workplace Expectations Types of Business Ownership Business Plan Management and Leadership Career Website Development Unit: Role of Workplace Expectations 1. Profit 2. Inventory 3. Customer Service 4. School Store Set Up 1. Entrepreneurship 2. Types of Business Ownership 1. Company Description 2. Industry Analysis 3. Target Market 4. Competition 5. Marketing Plan and Sales Strategy 6. Operations 7. Management and Organization 8. Financials 9. Long Term Development 1. Management 2. Leadership 1. Resume and Cover Letter 2. Interviews Course Details 1. Website Development Duration: 3 Week(s) Unit Description Students will learn how to actively problem solve and work as a team member in a workplace environment. During this unit, students will prepare the school store for opening day while also learning about basic business concepts. How does the ability to problem solve apply to the real world? Why is it important to work with customer s to satisfy needs? Why is it important to work with others from diverse backgrounds? How do you effectively keep track of inventory? How is profit calculated? Page 1
Academic Vocabulary profit profit margin problem solving inventory perpetual inventory physical inventory inventory shrink customer service effectiveness mission vision efficiency computer Microsoft Excel Summative Assessment Opening day of school store School Store quiz (see attachment) Topic: Profit Duration: 3 Day(s) Students will learn to calculate profit and loss margin, and will calculate potential profit for school store products. Fundraisers will also be discussed and potential profit from fundraisers calculated. profit profit margin Profit and profit margin calculations in class The student will define and calculate profit The student will define and calculate profit margin Topic: Inventory Duration: 3 Day(s) Students will learn the basic concepts about inventory, inventory management, and causes and prevention of inventory shrink. They will also participate in setting up a perpetual inventory system for the school store. inventory inventory management perpetual inventory physical inventory inventory shrink perpetual inventory spreadsheet for the school store Students will define and set up a perpetual inventory spreadsheet Students will identify causes of inventory shrink and explain ways to prevent it Topic: Customer Service Duration: 3 Day(s) Page 2
Students will identify and implement effective customer service strategies Students will learn and demonstrate skills needed for properly communicating with customers and taking care of customer complaints and suggestions. customer service critic's math Demonstration of customer service skills through role play of customer/employee situations Topic: School Store Set Up Duration: 6 Day(s) Students will physically get the school store ready for opening. This includes creating opening day promotions, creating a mission and vision for the store, putting away inventory, conducting a physical inventory count, and creating menus with appropriate prices based on cost of goods. promotions mission vision physical inventory cost of goods Completion of tasks to prepare the school store for a successful opening day. Students will create an effective promotional advertisement Students will develop a mission and vision statement for the school store Students will prepare the school store for opening day DOK Level 4 Unit: Types of Business Ownership Unit Description Students will explore entrepreneurship, the rewards and risks of business ownership, and the different types of business ownership. How have innovations by entrepreneurs influenced society and your life? Why do people start businesses with the risks they will face during the process? How does the type of business ownership impact the owner's of that business? Academic Vocabulary entrepreneur proprietorship partnership limited liability company (LLC) corporation s-corporation non-profit corporation computer Summative Assessment Types of Business Ownership test (see attachments) Topic: Entrepreneurship Duration: 4 Week(s) Duration: 5 Day(s) Page 3
Students will explore entrepreneurship, including characteristics of successful entrepreneurs and the rewards and risks of business ownership. Franchises will also be discussed as a means to start a business. entrepreneurship franchise Franchise Project (see attachment) Students will define entrepreneur and identify characteristics of successful entrepreneurs Students will compare and contrast the rewards and risks of owning a business Students will define franchise and explain how opening a franchise may eliminate some of the risks that come with entrepreneurship Topic: Types of Business Ownership Duration: 15 Day(s) Students will identify and explain characteristics of different types of business ownership. The ultimate goal will be to select the legal form of business ownership they will use in the next unit for their business plans. proprietorship partnership limited liability company corporation s-corporation non-profit corporation Comparison Assignment (see attachment) Students will define and explain details about: proprietorships, partnerships, limited liability company's, corporations, s-corporations, and nonprofit corporations Students will identify the types of businesses suited to the different legal forms of business ownerships Unit: Business Plan Duration: 18 Week(s) Unit Description Students will write a business plan, and while doing so, learn business terms and concepts that are not only essential in running a business but also in working for a business. How does a business plan impact the success or failure of a business? What are the essential elements in a business plan and how do those elements impact the business startup and future success? Page 4
Academic Vocabulary company governance market capital competitive advantage competition monopoly SWOT analysis strength weakness opportunity threat barrier to entry double entry accounting income statement industry strategic planning speculative risk pure risk risk reduction risk transfer risk retention compensation benefits marketing mix promotion mix selling process inventory physical inventory perpetual inventory just in time inventory workforce supplier target market market segment market research computer Microsoft Office (Word and Excel) Google Docs Summative Assessment completed business plan presentation of business plan Topic: Company Description Students will write a company description for their business. This includes generating a business idea for a needed product or service, deciding upon the legal form of business, setting an effective date for opening, writing the mission and vision for the business, determining company location, setting immediate development goals, and determining competitive advantages of their business. company governance market capital mission vision effective date competitive advantage Company Description quiz (see attachment) Company Description section of the business plan Students will select a business idea and analyze the need for it in the location they have chosen DOK Level 4 Students will write an appropriate mission and vision statement for their business Page 5
Students will compare their business idea to other similar businesses (if present) and determine their competitive advantages Topic: Industry Analysis Students will determine which industry their business falls in to. They will then describe that industry, identifying the size, growth rates, history, and nature of competition within the industry. Students will then analyze the industry to identify and prepare for opportunities and threats that are present. opportunity threat SWOT analysis industry strategic planning external analysis Industry Analysis quiz (see attachment) Industry Analysis section of the business plan Students will identify the industry that they are a part of Students will describe and give details about their industry Students will analyze their industry and identify opportunities and threats within the industry DOK Level 4 Students will determine ways to prepare for opportunities and threats within their industry DOK Level 4 Topic: Target Market Students will identify and analyze their target market. This includes creating a customer profile (demographic, geographic, psychographic, and behavioral shopping patterns) to determine exactly who the target market is, and then analyzing the target market by looking at the size, growth potential, needs, shopping patterns, and sensitivities that target market has to determine if the selected market will satisfy the business's need for customers. target market market research market segment Target Market quiz (see attachment) Target Market section of the business plan Students will define target market Students will identify their target market Students will analyze the target market to determine if it will meet the needs of the business Topic: Competition Page 6
Students will identify their current competitors Students will identify and analyze their competition. They will first identify their key competitors and then explain why their new business is needed even though those competitors exist. This will include revisiting their competitive advantages and analyzing how those make their business needed in the market. Students will complete an internal analysis to identify their business's strengths and how those will help them take advantage of industry opportunities. Students will identify their weaknesses and plan for how they can minimize or eliminate industry threats. Finally, students will study barriers to entry and analyze how, if they are able to overcome, will help keep them safe from future potential competitors. strength weakness internal analysis competition monopoly barrier to entry Competition quiz (see attachment) Competition section of the business plan Students will analyze and defend why their business is needed when competitors are present DOK Level 4 Students will complete an internal analysis of their business DOK Level 4 Students will identify barriers to entry into an industry Topic: Marketing Plan and Sales Strategy Students will develop a marketing plan. They will first write a key message/slogan for their business that can be used in all of their promotional materials. They will then describe the marketing mix elements for their business by detailing their products and prices, and describing the physical place where they will be sold. Next, students will use the promotion mix to select promotional elements to use in their business, and will give details about each element they decide to use. Finally, students will choose and describe the selling process that will take place in their business. marketing mix promotion mix sales promotion selling process key message product price place Marketing Plan quiz (see attachment) Marketing Plan section of the business plan Students will define and develop a key message for their business Students will define marketing mix and explain each element of the marketing for their business Students will select and design promotions for their business Students will identify and explain the most efficient selling process for their business Page 7
Topic: Operations Students will write an operations plan. This includes planning and describing the most efficient physical layout of their actual business space, identifying supplies and inventory needed and effective suppliers from which to order, identifying and explaining the inventory control system that will be used, and setting up a workforce plan that will include business hours and employees needed. operations physical inventory perpetual inventory just in time inventory workforce supplier Operations quiz (see attachment) Operations section of the business plan Students will define operations Students will describe the physical layout of their business and defend why it is the most efficient layout DOK Level 4 Students will select suppliers for their needed supplies and inventory, and explain why those are the best suppliers for their business Students will select and describe the inventory control system they will use Students will set up a workforce plan for their business Topic: Management and Organization Students will write a management and organization plan. Students will identify the roles of the managers in the business and then identify consultants that are needed to add areas of expertise to the business that the managers may lack (accounting, web design, etc.). Students will then go on to explain their recruitment and hiring procedures that will be used to secure the best employees possible for the open positions. Finally, students will outline their compensation and benefits plan and defend the cost of the plan. compensation benefits management Management quiz (see attachment) Management section of the business plan Students will define the role of managers in their business Students will determine where expertise is needed in the business and select consultants that will fill in those gaps Students will explain how to effectively recruit and hire employees Students will define compensation and benefits Students will explain their compensation and benefits plan, and determine if the cost is feasible with the potential revenue of the business Topic: Financials Page 8
Students will define accounting system, and select an appropriate system for use in their business Students will write a financial plan for their business that includes an accounting system and income statement. First, they will research and select an accounting system to use that is best for their business. Then, they will research to find accurate income and expense amounts for their business, and create a projected six month income statement for the first six months of operation. double entry accounting income statement revenue expenses cost of merchandise sold gross profit on sales net income Financial Plan section of business plan Students will define and identify items on an income statement Students will project income and expenses for the first six months of business operation and develop a six month projected income statement Topic: Long Term Development Students will finish their business plan with this last topic. They will set long term goals for their business and analyze how they plan to reach those goals. They will also identify speculative and pure risks that could harm the longevity of their business, and then identify and choose risk management strategies that will help protect their business. speculative risk pure risk risk reduction risk transfer risk retention Long Term Development quiz (see attachment) Long Term Development section of the business plan Students will set long term goals for their business Students will identify speculative and pure risks for their business Students will investigate risk management strategies and choose the most effective ones for their business Unit: Management and Leadership Duration: 3 Week(s) Unit Description Students will learn the role and functions of management and leadership. They will also learn different management/leadership styles and how those styles impact businesses and workers. What are the various roles and functions performed by managers? How do different leadership styles impact an organization? In what ways to managers and leaders impact their employees and followers? Page 9
Academic Vocabulary management leadership plan organize lead control laissez-faire autocratic participative transactional transformational computer Summative Assessment Management vs. Leadership Project (see attachment) Topic: Management Duration: 5 Day(s) Students will identify the roles and functions of management. Students will participate in scenarios and role play activities in order to determine how management roles fulfill business needs. management plan organize lead control manager Scenario activity in which students are given a situation in a business and have to decide what function of management a person would be acting in when handling that situation. They then have to evaluate the managers actions and decide if the situation was handled in the most effective and efficient way. Students will define management and identify the roles of managers Students will explain the functions of management and apply those functions to specific business tasks Topic: Leadership Students will study different aspects of leadership. They will identify different leadership styles and how those impact businesses and followers. This topic also includes two presentations, in which students will practice and grow their communication and presentation skills. leadership laissez-faire autocratic participative transactional transformational Leadership Project (see attachment) Students will identify different leadership styles and their characteristics Students will analyze how different leadership styles impact followers and organizations Students will make an effective oral presentation Page 10
Unit: Career Duration: 3 Week(s) Unit Description Students will take steps to prepare for their future careers in this unit. During this unit, students will write/edit their resumes and cover letters, and prepare for and participate in a mock interview. How can you prepare to be the best job candidate possible? How will your resume, cover letter, and interview abilities impact your employability? Academic Vocabulary resume cover letter mock interview computer Microsoft Word Adobe Reader Summative Assessment completed resume and cover letter mock interview Topic: Resume and Cover Letter Duration: 5 Day(s) Students will write, evaluate, and revise their resume and cover letter. They will be exposed to many different sources to help write these documents now and in the future. Students will also learn how cover letters and resumes are typically sent to potential employers, and learn how to save documents in the PDF format for greatest accessibility by employers. resume cover letter Draft of resume and cover letter Students will write a resume Students will write a cover letter Students will save a Word document in a PDF format Topic: Interviews Students will prepare for future interviews with this topic. They will start with learning about different types of interviews (in-person, online, phone, and dinner) and prepare a video presentation about interview types. Students will then look at common interview questions and prepare answers for them. Next students will discuss interview "do's" and "don'ts" and prepare for the mock interview. After the mock interview, students will learn about the importance of thank you letters and when/how it is appropriate to send thank you letters after an interview. online interview phone interview dinner interview mock interview thank you letter Answers to commonly asked interview questions and preparation for the mock interview Page 11
Students will identify different interview formats and explain when each might be used Students will prepare for an interview by writing and practicing answers to common interview questions Students will participate in a mock interview Students will write a thank you letter after an interview Unit: Website Development Unit Description Students will discuss the importance of an online presence for a business, determine what essential items should go on a business website, and create their own website for a fictitious business. How does a website impact and reflect the culture and nature of a business? Academic Vocabulary website homepage Weebly credibility FAQ testimonia computer Weebly Education Summative Assessment Finished Weebly Education website Topic: Website Development Students will determine essential elements of a website Duration: 3 Week(s) Duration: 15 Day(s) Students will learn how to create their own website. Website platforms will be discussed, and students will create their websites on Weebly education. Students will research about essential elements for a business website, and determine what pages should be included and what information should go on those pages. Students will use a fictitious business as the topic of their website. homepage Weebly credibility FAQ testimonial Visual checks of progress on individual web pages Students will create a website using Weebly Education Page 12
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