Entrepreneurship

• List qualities that entrepreneurs should have, and describe how entrepreneurs’ actions

impact their own lives and the world around them.

• Explain the significance of economic theory in entrepreneurial activity.

• Describe success factors, including leadership qualities and innovation, entrepreneurial successes of the past.

• Describe sources of ideas, sources of information, and methods to find entrepreneurial opportunities.

• Describe the role of the business model and business plan in a new venture.

• Describe how buying a new business or franchising are options for an entrepreneurial venture.

• Describe how products transition through the life cycle, and how pricing and brand decisions are affected.

• Describe how new product development and credit pricing can stimulate a firm’s growth.

• Explain the working of the distribution and advertising functions.

• Describe the costs and benefits that are associated with distribution and promotion.

• Describe the importance of market research for small firms.

• Explain how technology can help small firms tune their marketing initiatives.

• Describe how effective person-to-person communication is important for selling and

customer service.

• Describe how sales are planned, executed, and measured through various channels.

• Describe methods or phenomena to increase efficiency in a production environment.

• Describe ways to plan and improve operations for both the manufacturing and service

industries.

• Describe the importance of inventory control in minimizing operating costs.

• Describe the processes within supply chain management

• Describe various sources and types of capital and types of assets and liabilities.

• Describe the importance of the accounting function to a firm.

• Describe how various accounting statements, ratios, and controls can help monitor a firm’s health.

• Describe why personal finance is relevant to the entrepreneur.

• Explain how liabilities and taxation vary across business structures.

• Describe how legislation affects contracts, intellectual property, and marketing promotion.

• Describe the laws that apply to marketing activities and environmental protection.

• Describe legislation and norms that shape workplace policy and ethical behavior.

• Describe how the human resources function can help a small enterprise grow.

• Explain the importance of ethics in business and describe ways to ensure confidentiality of important business information.

• Describe soft skills that can help an entrepreneur run a successful business.

• Describe technical skills that can help an entrepreneur run a successful business.

• Describe the key elements in creating a roadmap and structure for a business firm and explain the process of registering the firm.

• Explain the nature of global trade and identify strategies for entering global markets.

• Explain the importance of quality management and describe quality control concepts and processes.

• Explain various metrics and procedures that are used to reduce risks and track enterprise performance.

• List and explain requirements for a comprehensive business plan.