PRINCIPLES OF ENTREPRENEURSHIP introduces students to a wide array of entrepreneurial concepts and skills, including the role of entrepreneurship in our economy, entrepreneurial discovery processes, ideation, and preliminary start-up venture planning. Students also develop an appreciation for marketing’s pivotal role in the development and success of a new business. They become acquainted with channel management, pricing, product/service management, and promotion. Students conduct thorough market planning for their ventures: selecting target markets; conducting market, SWOT, and competitive analyses; forecasting sales; setting marketing goals and objectives; selecting marketing metrics; and setting a marketing budget. The capstone activity in the course is the development of detailed marketing plans for students’ start – up businesses.

Describe legal issues affecting businesses (BL:001) (SP)
» FINC.13.04.c
Select form of business ownership (BL:006, BL LAP 2) (ON)
» FINC.13.08.b, MANC.08.08.b, MKTC.15.08.b
INSTRUCTIONAL AREA: Communication Skills
Write inquiries (CO:040) (CS)
» MKTC.05.05.h
Identify the impact of small business/entrepreneurship on market economies (EC:065) (CS)
INSTRUCTIONAL AREA: Emotional Intelligence
Assess risks of personal decisions (EI:091) (PQ)
Take responsibility for decisions and actions (EI:075) (PQ)
Develop tolerance for ambiguity (EI:092) (CS)
INSTRUCTIONAL AREA: Entrepreneurship
Explain the need for entrepreneurial discovery (EN:001) (ON)
» FINC.05.01.a, MANC.03.01.a, MKTC.07.01.a
Discuss entrepreneurial discovery processes (EN:002) (ON)
» FINC.05.01.b, MANC.03.01.b, MKTC.07.01.b
Assess global trends and opportunities for business ventures/products (EN:003) (ON)
» FINC.05.01.c, MANC.03.01.c, MKTC.07.01.c
Determine opportunities for venture/product creation (EN:004) (ON)
» FINC.05.01.d, MANC.03.01.d, MKTC.07.01.d
Assess opportunities for venture/product creation (EN:005) (ON)
» FINC.05.01.e, MANC.03.01.e, MKTC.07.01.e
Generate venture/product ideas (EN:006) (ON)
» FINC.05.01.g, MANC.03.01.g, MKTC.07.01.g
Determine feasibility of venture/product ideas (EN:038) (ON)
» FINC.05.01.h, MANC.03.01.h, MKTC.07.01.h
INSTRUCTIONAL AREA: Information Management
Identify sources of business start-up information (MN:187) (SP)
Conduct an environmental scan to obtain business information (NF:015, NF LAP 2) (SP)
» MANC.10.04.c, MKTC.17.04.c
Explain the nature of overhead/operating costs (OP:024) (SP)
» FINC.16.01.a, MANC.13.04.a, MKTC.22.01.a
INSTRUCTIONAL AREA: Professional Development
Demonstrate appropriate creativity (PD:012, QS LAP 5) (SP)
Explain career opportunities in entrepreneurship (PD:066, PD LAP 4) (CS)
Conduct self-assessment to determine entrepreneurial potential (PD:067) (CS)
INSTRUCTIONAL AREA: Strategic Management
Develop company goals/objectives (SM:008) (ON)
» FINC.15.02.b, MANC.12.02.b, MKTC.21.01.b
Define business mission (SM:009) (ON)
» FINC.15.02.c, MANC.12.02.c, MKTC.21.01.c
INSTRUCTIONAL AREA: Channel Management
Explain the nature and scope of channel management (CM:001, CM LAP 2) (CS)
Explain the nature of channels of distribution (CM:003, CM LAP 1) (CS)
» MKTC.23.01.c
Select channels of distribution (CM:010) (MN)
» MKTC.23.02.d
Explain the concept of marketing strategies (MP:001, MP LAP 2) (CS)
» MKTC.25.01.a
Explain the concept of market and market identification (MP:003; IM LAP 9, MP LAP 3) (CS)
» MKTC.25.01.c
Identify market segments (MP:004) (MN)
» MKTC.25.01.d
Select target market (MP:005) (MN)
» MKTC.25.01.e
Explain the nature of marketing plans (MP:007, MP LAP 1) (SP)
» MKTC.25.01.g
Explain the role of situation analysis in the marketing planning process (MP:008) (SP)
» MKTC.25.01.h
Conduct market analysis (market size, area, potential, etc.) (MP:009) (MN)
» MKTC.25.01.i
Conduct SWOT analysis for use in the marketing planning process (MP:010, IM LAP 8) (MN)
» MKTC.25.01.j
Conduct competitive analysis (MP:012) (MN)
» MKTC.25.01.l
Explain the nature of sales forecasts (MP:013) (SP)
» MKTC.25.01.m
Forecast sales for marketing plan (MP:014) (MN)
» MKTC.25.01.n
Set marketing goals and objectives (MP:015) (MN)
» MKTC.25.01.o
Select marketing metrics (MP:016) (MN)
» MKTC.25.01.p
Set marketing budget (MP:017) (MN)
» MKTC.25.01.q
Develop marketing plan (MP:018) (MN)
» MKTC.25.01.r
Explain the nature and scope of the pricing function (PI:001, PI LAP 2) (SP)
Explain factors affecting pricing decisions (PI:002, PI LAP 3) (SP)
Determine cost of product (breakeven, ROI, markup) (PI:019) (MN)
Calculate break-even point (PI:006, PI LAP 4) (MN)
Set prices (PI:007) (MN)
INSTRUCTIONAL AREA: Product/Service Management
Explain the nature and scope of the product/service management function (PM:001, PM LAP 17) (SP)
» MKTC.27.01.a
Identify methods/techniques to generate a venture/product idea (PM:127, PM LAP 11) (SP)
» MKTC.27.02.b
Explain the concept of product mix (PM:003, PM LAP 3) (SP)
» MKTC.27.04.a
Identify product to fill customer need (PM:130) (MN)
» MKTC.27.04.c
Plan product mix (PM:006) (MN)
» MKTC.27.04.d
Determine services to provide customers (PM:036) (MN)
» MKTC.27.04e
Describe factors used by marketers to position ventures/products (PM:042) (SP)
» MKTC.27.05.a
Identify company’s unique selling proposition (PM:272) (MN)
» MKTC.27.05.d
Choose venture/product name (PM:131) (ON)
Select business location (PM:132) (ON)
Explain the role of promotion as a marketing function (PR:001, PR LAP 2) (CS)
» MKTC.28.01.a
Explain the types of promotion (PR:002, PR LAP 4) (CS)
» MKTC.28.01.b
Identify the elements of the promotional mix (PR:003, PR LAP 1) (SP)
» MKTC.28.01.c
Explain types of advertising media (PR:007, PR LAP 3) (SP)
» MKTC.28.02.a
Develop promotional plan for a business (PR:097) (MN)
» MKCO.14.18.h

» = Colorado standard