Accelerating Entrepreneurship Everywhere Consortium for Entrepreneurship Education www

Accelerating Entrepreneurship Everywhere! Consortium for Entrepreneurship Education www. entre-ed. org #1

National Content Standards for Entrepreneurship Education Released June 2004 Consortium for Entrepreneurship Education Accelerating Entrepreneurship Everywhere! Support by Ewing Marion Kauffman Foundation, Kansas City, MO #2

Entrepreneurship Education is Important - Economic why? • Majority of new jobs are created by entrepreneurs and small businesses • Small high growth companies account for 70% of economic growth over last decade • Entrepreneurship drives economic competitiveness at the local – state – and global levels • Over 1/3 of difference in national economic growth may be due to difference in entrepreneurial activity • Entrepreneurship has a unique position in the “New Economy” • Entrepreneurship accounts for at least 2/3 of all technological innovation #3

Entrepreneurship Education is Important - Personal why? • 7 of 10 high school students want to start their own business • More opportunity to exercise creative freedoms • Higher self-esteem • Greater sense of control over your life and future. #4

Entrepreneurship Education is Important – Global why? Many experienced business people, political leaders, economists, and educators believe that fostering a robust entrepreneurial culture will maximize individual and collective economic and social success on a local, national, and global scale. #5

Entrepreneurship Education what? • Objective is to become entrepreneurially minded with the potential to act on this by discovering or creating business opportunities. • Lifelong learning process from elementary to adult #6

Entrepreneurship Education what? • Entrepreneurs are not “born”…they “become” through the experiences of their lives • Entrepreneurs have a great diversity of personal characteristics, the common one: being willing to take a risk in return for a profit • Anyone can be an entrepreneur at any time of one’s life • Entrepreneurship is NOT learned by reading a textbook and then taking a test to prove you are one. • Entrepreneurship education activities are a real-life vehicle for developing academic skills • Entrepreneurs are found in every occupation and career • Entrepreneurship education opportunities are important at all levels of education #7

Lifelong Learning Model #8

National Content Standards for Entrepreneurship Education why? Bring the power of entrepreneurship education to your curriculum: • Content for developing future entrepreneurs • Context for building and applying academic skills • Career Opportunities for students • Economic Development for communities, states, and our nation #9

National Content Standards for Entrepreneurship Education what? The Standards: • Are a FRAMEWORK for many levels of curriculum development • Lead to developing KNOWLEDGE AND SKILLS for entrepreneurial activities • Provide for acquisition and application of CORE ACADEMIC SKILLS • Are both a CONTEXT FOR LEARNING and SUBJECT MATTER for CURRICULUM #10

National Content Standards for Entrepreneurship Education how? Developed through: • Extensive literature review • Focus group of entrepreneurs • National Entrepreneur Advisory Council • Input from those concerned with entrepreneurship education • Expertise of Marketing Education Resource Center (Mark. ED) #11

National Content Standards for Entrepreneurship Education Organized in three sections: • Entrepreneurial Skills • Ready Skills • Business Functions #12

ENTREPRENEURIAL SKILLS Understands concepts and processes associated with successful entrepreneurial performance. Provides the unique expertise that entrepreneurs use during the entire process of creating and managing a business. (A) Entrepreneurial Processes (B) Entrepreneurial Traits/Behaviors #13

(A) Entrepreneurial Processes Understands concepts and processes associated with successful entrepreneurial performance. The steps in the process of creating and running a business are: Discovery Dreaming about possibilities Concept Development Choosing an idea and creating a plan Resourcing Testing the feasibility of the plan Actualization Starting and running the business Harvesting Deciding on the future of the business Entrepreneurial Skills Ready Skills Business Functions #14

(B) Entrepreneurial Traits/Behaviors Understands the personal traits/behaviors associated with successful entrepreneurial performance. These entrepreneurial traits and behaviors are especially important to the success of the entrepreneurial processes: –Leadership –Personal Assessment –Personal Management Entrepreneurial Skills Ready Skills Business Functions #15

READY SKILLS The basic business knowledge and skills that are prerequisites or co-requisites for becoming a successful entrepreneur. Provide the developmental curriculum opportunities that enable individuals to operate in competition with the world and a context for experiences related to becoming an entrepreneur. (C) Business Foundations (D) Communications and Interpersonal Skills (E) Digital Skills (F) Economics (G) Financial Literacy (H) Professional Development #16

(C) Business Foundations Understands fundamental business concepts that affect business decision making. • Business Concepts (C. 01 – C. 09) • Business Activities (C. 10 – C. 17) Entrepreneurial Skills Ready Skills Business Functions #17

(D) Communications and Interpersonal Skills Understands concepts, strategies, and systems needed to interact effectively with others. • Fundamentals of Communication (D. 01 – D. 16) • Staff Communications (D. 17 – D. 20) • Ethics in Communication (D. 21 – D. 22) • Group Working Relationships (D. 23 – D. 26) • Dealing with Conflict (D. 27 – D. 36) Entrepreneurial Skills Ready Skills Business Functions #18

(E) Digital Skills Understands concepts and procedures needed for basic computer operations. • Computer Basics (E. 01 – E. 10) • Computer Applications (E. 11 – E. 19) Entrepreneurial Skills Ready Skills Business Functions #19

(F) Economics Understands the economic principles and concepts fundamental to entrepreneurship/small-business • Basic Concepts (F. 01 – F. 08) • Cost-Profit Relationships (F. 09 – F. 14) • Economic Indicators/Trends (F. 15 – F. 18) • Economic Systems (F. 19 – F. 27) • International Concepts (F. 28 – F. 32) Entrepreneurial Skills Ready Skills Business Functions #20

(G) Financial Literacy Understands personal money-management concepts, procedures and strategies. • Money Basics (G. 01 – G. 09) • Financial Services (G. 10 – G. 14) • Personal Money Management (G. 15 – G. 27) Entrepreneurial Skills Ready Skills Business Functions #21

(H) Professional Development Understands concepts and strategies needed for career exploration, development, and growth. • Business Concepts (H. 01 – H. 06) • Business Activities (H. 07 – H. 18) Entrepreneurial Skills Ready Skills Business Functions #22

BUSINESS FUNCTIONS The business activities performed by entrepreneurs in managing the business. Provide the day-to-day skills that are essential to the success of any business be it a homebased venture or a fast-growing corporation. They also provide the expertise that enables entrepreneurs, and future entrepreneurs, to see and create entrepreneurial opportunities. (I) Financial Management (J) Human Resource Management (K) Information Management (L) Marketing Management (M) Operation Management (N) Risk Management (O) Strategic Management #23

(I) Financial Management Understands the financial concepts and tools used in making business decisions. • Accounting (I. 01 – I. 07) • Finance (I. 08 – I. 21) • Money Management (I. 22 – I. 28) Entrepreneurial Skills Ready Skills Business Functions #24

(J) Human Resource Management Understands the concepts, systems, and strategies needed to acquire, motivate, develop, and terminate staff. • Organizing (J. 01 – J. 05) • Staffing (J. 06 – J. 12) • Training/Development (J. 13 – J. 15) • Morale/Motivation (J. 16 – J. 21) • Assessment (J. 22 – J. 26) Entrepreneurial Skills Ready Skills Business Functions #25

(K) Information Management Understands the concepts, systems, and tools needed to access, process, maintain, evaluate, and disseminate information for business decisionmaking. • Record Keeping (K. 01 – K. 06) • Technology (K. 07 – K. 14) • Information Acquisition (K. 15 – K. 18) Entrepreneurial Skills Ready Skills Business Functions #26

(L) Marketing Management Understands the concepts, processes, and systems needed to determine and satisfy customer needs/wants/expectations, meet business goals/objectives, and create new product/service ideas. • Product/Service Creation (L. 01 – L. 11) • Marketing-Information Management (L. 12 – L. 21) • Promotion (L. 22 – L. 32) • Pricing (L. 33 – L. 38) • Selling (L. 39 – L. 57) Entrepreneurial Skills Ready Skills Business Functions #27

(M) Operations Management Understands the processes and systems implemented to facilitate daily business operations. • Business Systems (M. 01 – M. 09) • Channel Management (M. 10 – M. 12) • Purchasing/Procurement (M. 13 – M. 20) • Daily Operations (M. 21 – M. 23) Entrepreneurial Skills Ready Skills Business Functions #28

(N) Risk Management Understands the concepts, strategies, and systems that businesses implement and enforce to minimize loss. • Business Risks (N. 01 – N. 13) • Legal Considerations (N. 14 – N. 21) Entrepreneurial Skills Ready Skills Business Functions #29

(O) Strategic Management Understands the processes, strategies, and systems needed to guide the overall business organization. • Planning (O. 01 – O. 09) • Controlling (O. 10 – O. 15) Entrepreneurial Skills Ready Skills Business Functions #30

Sample Standard and Performance Indicator Ready Skills (C) Business Foundations STANDARD Understands fundamental business concepts that affect business decision making PERFORMANCE INDICATOR(S) C. 08 Explain the nature of managerial ethics C. 09 Describe the need for and impact of ethical business practices #31

Sample Matrix - Elementary Market Place for Kids www. Marketplace. Of. Ideas. org A statewide program in North Dakota and Minnesota. Demonstrates how elementary and middle school students can work in teams to learn about Critical Thinking, Innovation, and Creative Problem Solving. Sample Lessons – – – Innovative Thinking: Model Motels Entrepreneurship : 119 Ways for Kids to Make Money Inventions: 8 Steps to Inventing Adventures in Agriculture: From Corn to Plastic Utilizing the Internet in Entrepreneurship Energy Education: Lemon Power #32

Sample Matrix – Youth and Adults Go. Venture Business and Life Simulations by Media. Spark. www. goventure. net 1 -800 -331 -2282 A line of international award-winning software simulations that offer fun, fast, and effective experiential learning in subjects such as business and entrepreneurship, investment and finance, and career and life skills. With Go. Venture software simulations, learners don’t just learn about business, they live it by starting and running their own virtual businesses on a computer. Similar to how pilots train using flight simulators, highly visual and realistic Go. Venture simulations enable youth and adults to gain years of experience in minutes. #33

Sample Matrix - Secondary Buchholz High School – Entrepreneurship Academy Gainesville, FL Approximately 200 students. A four-year elective program. Course sequence: Principles of Entrepreneurship, Business Management and Law, Business Ownership, and Retail Essentials. The classroom takes on the corporate environment as students are encouraged – – – – to think outside the box, develop leadership skills, demonstrate economic concepts, utilize technology, become risk takers, form partnerships with the business community, and experience every aspect of a business through a variety of business/entrepreneurship simulations #34

Sample Matrix – Post Secondary Springfield Technical Community College Student Business Incubator, Springfield, MA www. stcc. mass. edu A program to bridge the gap between academics and real world business experience that assists students in starting and growing businesses. To be eligible for inclusion in the incubator the individual must be a student. Critical assistance is provided to overcome the odds of business failure. Sample Lessons – Networking - the Basis for your Business Tomorrow – Sales and the Sales Process: How to Create Relationships with your Customers – Marketing on a Shoestring: Innovation and Strategy – Financing a Business with little money but lots of potential – Quickbooks for Businesses – Strategic Planning for Today, Tomorrow and Beyond #35

Sample Matrix – Post Secondary Entrepreneurship Center at Purdue University Calumet Hammond, IN ecenter@calumet. purdue. edu Adult entrepreneurs participate for 15 months in weekly sessions addressing: – – – Management, Marketing, Accounting, Finance, Personnel, Strategic Planning, Business Law, and Other Workplace Issues. A structured forum in which participants apply entrepreneurial skills to a “Client Company” A Roundtable of the business owners serve as an advisory committee for each other’s business. #36

Sample Matrix – Adult Education Rhode Island Micro. Enterprise Association www. rimicroenterprise. org • Began in 1999 to serve low and moderate income adults. • Conduct workshops in 20 sites statewide, about 50 workshops per year. • FY 3 they helped create 53 new RI businesses, and from the 53 new businesses 22 more jobs were created. • Workshops feature Business Planning, Marketing, and Financing • According to AEO (Association for Enterprise Opportunity) they are the most efficient and cost effective model in the SMA (State Micro Association) world. #37

The Toolkit Visit the Consortium for Entrepreneurship Education website to access the FREE Standards Toolkit: www. entre-ed. org #38

Toolkit Contents 1. Importance of Entrepreneurship Education 2. Benefits of Entrepreneurship Education 3. Nurturing the Entrepreneurial Spirit 4. The Standards a. Overview b. Summary c. Detail 5. Curriculum a. Educational Issues b. Examples c. Sources 7. About the Consortium for Entrepreneurship Education 8. Our Sponsors 9. Research Process a. b. c. d. Overview Focus Groups Validation Bibliography 10. National Entrepreneur Advisory Council (NEAC) 11. FAQ 12. Helpful Downloads 6. Testimonials #39

Consortium for Entrepreneurship Education Recognized as the national leader in advocating entrepreneurship education. Champions entrepreneurship education and provides advocacy, leadership, networking, technical assistance, and resources across all levels and disciplines of education, promoting quality practices and programs. A national membership organization for leaders advocating entrepreneurship education, composed of national, state and local educational agencies and organizations. Join us! www. entre-ed. org #40

Entrepreneurship Education Forum The MAGIC of Entrepreneurship. . . Dreams Do Come True! Join entrepreneurship education leaders from across the US and internationally. Orlando, FL November 5 – 8, 2005 SCHOLARSHIPS AVAILABLE FOR TEACHERS Join us! Details at www. entre-ed. org #41

Accelerating Entrepreneurship Everywhere! Consortium for Entrepreneurship Education www. entre-ed. org #42