Advanced Entrepreneurship, which emphasizes planning and organizational processes integral to the start-up of new ventures, focuses on the continued development of students’ small businesses. Students complete such tasks as: identifying resources necessary for business operations; developing personnel organizational plans; selecting sources of financing for their new ventures; completing loan applications; preparing pro forma financial statements; developing channel management
strategies; identifying key performance indicators; and developing detailed business plans. Communication skills, economics, emotional intelligence, human resources management, information management, marketing-information management, pricing, and product/service management are also addressed.

Instructional Area: Communication Skills
Write executive summaries (CO:091) (SP)
» MKTC.05.05.j
Instructional Area: Economics
Describe the nature of taxes (EC:072) (SP)
» FINC.02.04.b, MANC.02.04.b, MKTC.02.04.b
Describe the economic impact of inflation on business (EC:083) (SP)
» FINC.02.06.e, MANC.02.06.e, MKTC.02.06.e
Explain the economic impact of interest-rate fluctuations (EC:084) (SP)
» FINC.02.06.g, MANC.02.06.g, MKTC.02.06.g
Determine the impact of business cycles of business activities (EC:018, EC LAP 9) (SP)
» FINC.02.06.h, MANC.02.06.h, MKTC.02.06.h
Describe small-business opportunities in international trade (EC:066) (SP)
Instructional Area: Emotional Intelligence
Persuade others (EI:012, QS LAP 10) (SP)
» MKTC.05.08.a
Give elevator pitch (EI:093) (SP)
Demonstrate negotiation skills (EI:062; QS LAP 3, EI LAP 8) (SP)
» MKTC.05.08.b
Instructional Area: Entrepreneurship
Assess the need to use external resources for concept development (EN:012) (ON)
» FINC.05.02.f, MANC.03.02.f, MKTC.07.02.f
Explain considerations in making the decision to hire staff (EN:018) (ON)
» FINC.05.03.d, MANC.03.03.d, MKTC.07.03.d
Identify capital resources needed for the venture (EN:020) (ON)
» FINC.05.03.f, MANC.03.03.f, MKTC.07.03.f
Assess the costs/benefits associated with resources (EN:021) (ON)
» FINC.05.03.g, MANC.03.03.g, MKTC.07.03.g
Use external resources to supplement entrepreneur’s expertise (EN:022) (ON)
» FINC.05.04.a, MANC.03.04.a, MKTC.07.04.a
Instructional Area: Financial Analysis
Obtain insurance coverage (FI:082) (ON)
» FINC.14.06.b, MANC.11.06.b, MKTC.19.05.b
Explain the nature of risk management (FI:084, FI LAP 8) (SP)
» FINC.14.06.e, MANC.11.06.e, MKTC.19.05.e
Describe the nature of cash flow statements (FI:091, FI LAP 6) (SP)
» FINC.06.02.a, MANC.04.02.a, MKTC.08.02.a
Explain the nature of balance sheets (FI:093) (SP)
» FINC.06.02.c, MANC.04.02.c, MKTC.08.02.c
Describe the nature of income statements (FI:094, FI LAP 4) (SP)
» FINC.06.02.d, MANC.04.02.d, MKTC.08.02.d
Prepare a pro forma cash flow statement (FI:602) (MN)
Prepare a pro forma balance sheet (FI:511) (MN)
Develop a pro forma income statement (FI:510) (MN)
Explain the purposes and importance of obtaining business credit (FI:023) (ON)
» FINC.14.07.a, MANC.11.07.a, MKTC.19.06.a
Determine financing needed to start a business (FI:036) (ON)
Determine financing needed for business operations (FI:043) (ON)
» FINC.14.07.d, MANC.11.07.d, MKTC.19.06.d
Identify risks associated with obtaining business credit (FI:041) (ON)
» FINC.14.07.e, MANC.11.07.e, MKTC.19.06.e
Explain sources of financial assistance (FI:031) (ON)
» FINC.14.07.f, MANC.11.07.f, MKTC.19.06.f
Develop critical banking relationships (FI:039) (ON)
» FINC.14.07.b, MANC.11.07.b, MKTC.19.06.b
Explain loan evaluation criteria used by lending institutions (FI:034) (ON)
» FINC.14.07.g, MANC.11.07.g, MKTC.19.06.g
Complete loan application package (FI:033) (ON)
» FINC.14.07.h, MANC.11.07.h, MKTC.19.06.h
Instructional Area: Human Resources Management
Discuss factors that impact human resources management (e.g., availability of qualified employees, alternative staffing methods, employment laws/regulations, company policies/procedures, compensation and benefit programs, staff diversity, etc.) (HR:415) (SP)
» MAHR.05.03.c
Describe planning techniques used in the hiring process (e.g., succession planning, forecasting, etc.) (HR:416) (SP)
» MAHR.05.04.a
Develop job descriptions (HR:495) (MN)
Determine hiring needs (HR:353) (SU)
Instructional Area: Information Management
Establish specifications for selecting hardware/software systems (NF:091) (MN)
Determine venture’s information technology needs (NF:012) (MN)
Describe the nature of business records (NF:001, NF LAP 1) (SP)
» MANC.10.03.a, MKTC.17.03.a
Instructional Area: Operations
Select vendors (OP:161) (SP)
» FINC.11.02.e, MKTC.13.02.e
Describe crucial elements of a quality culture (OP:019) (SP)
» FINC.11.04.c, MKTC.13.04.c
Describe the role of management in the achievement of quality (OP:020) (MN)
» FINC.11.04.d, MKTC.13.04.d
Negotiate lease or purchase of facility (OP:028) (MN)
» FINC.16.01.f, MANC.13.04.f, MKTC.22.01.f
Instructional Area: Strategic Management
Explain the nature of business plans (SM:007, SM LAP 1) (MN)
» FINC.15.02.a, MANC.12.02.a, MKTC.21.01.a
Develop a personnel organizational plan (MN:042) (MN)
» MAGM.07.02.b
Explain external planning considerations (SM:011) (MN)
» FINC.15.02.e, MANC.12.02.e, MKTC.21.01.e
Identify and benchmark key performance indicators (e.g., dashboards, scorecards, etc.) (SM:027) (MN)
» FINC.15.02.f, MANC.12.02.f, MKTC.21.01.f
Develop action plans (SM:012) (ON),FINC.15.02.g
Develop business plan (SM:013, SM LAP 2) (ON)
» FINC.15.02.h, MANC.12.02.h, MKTC.21.01.h
Instructional Area: Channel Management
Develop channel-management strategies (CM:014) (MN)
» MKMN.07.01.e
Instructional Area: Marketing – Information Management
Identify industry/economic trends that will impact business activities (IM:363) (MN)
» MKMN.08.02.a
Analyze market needs and opportunities (IM:302) (MN)
» MKMN.08.02.b
Estimate market share (IM:350) (MN)
» MKMN.08.02.e, MKMR.05.12.l
Instructional Area: Pricing
Establish pricing objectives (PI:044) (MN)
» MKMN09.01.c
Identify strategies for pricing new products (for imitative new products, for innovative new products) (PI:020) (MN)
Select product-mix pricing strategies (product line, option-product, captive-product, by-product, product
bundle) (PI:021) (MN)
Determine discounts and allowances that can be used to adjust base prices (PI:022) (MN)
» MKMN09.01.e
Use psychological pricing to adjust base prices (PI:005) (MN)
Select promotional pricing strategies used to adjust base prices (PI:023) (MN)
INSTRUCTIONAL AREA: Product / Service Management
Explain the nature of product/service branding (PM:021, PM LAP 6) (SP)
» MKTC.27.05.b
Develop positioning concept for a new product idea (PM:228) (SP)
» MKMN.10.06.a
Communicate core values of product/service (PM:214) (SP)
» MKMN.10.06.b
Identify product’s/service’s competitive advantage (PM:246) (SP)
» MKMN.10.06.c
Explain the nature of corporate branding (PM:206, PM LAP 10)
» MKTC.27.06.a

» = Colorado standard