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

#1
 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.

#2
 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.

#3
 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

#4
 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

#5
Lifelong
Learning
Model

#6
 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

#7
 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

#8
 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
(MarkED)

#9
 National Content Standards for
Entrepreneurship Education

Organized in three sections:

• Entrepreneurial Skills
• Ready Skills
• Business Functions

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 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

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 (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
Entrepre-
Starting and running the business neurial
Harvesting Skills
Deciding on the future of the Business
business Functions
Ready
Skills

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 (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

Entrepre-
neurial
Skills

Business
Functions
Ready
Skills

#13
 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

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 (C) Business Foundations

Understands fundamental business concepts that affect

business decision making.
•Business Concepts (C.01 – C.09)
•Business Activities (C.10 – C.17)

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Skills

Business
Functions
Ready
Skills

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 (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) Entrepre-
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Skills

Business
Functions
Ready
Skills

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 (E) Digital Skills

Understands concepts and procedures needed for basic

computer operations.
•Computer Basics (E.01 – E.10)
•Computer Applications (E.11 – E.19)

Entrepre-
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Skills

Business
Functions
Ready
Skills

#17
 (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) Entrepre-
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Skills

Business
Functions
Ready
Skills

#18
 (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)

Entrepre-
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Skills

Business
Functions
Ready
Skills

#19
 (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)

Entrepre-
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Skills

Business
Functions
Ready
Skills

#20
 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 home-based 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

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 (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)

Entrepre-
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Skills

Business
Functions
Ready
Skills

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 (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) Entrepre-
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Skills

Business
Functions
Ready
Skills

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 (K) Information Management

Understands the concepts, systems, and tools needed to

access, process, maintain, evaluate, and disseminate
information for business decision-making.
•Record Keeping (K.01 – K.06)
•Technology (K.07 – K.14)
•Information Acquisition (K.15 – K.18)

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Skills

Business
Functions
Ready
Skills

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 (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)
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•Pricing (L.33 – L.38) neurial
Skills
•Selling (L.39 – L.57)
Business
Functions
Ready
Skills

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 (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)
Entrepre-
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Skills

Business
Functions
Ready
Skills

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 (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)

Entrepre-
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Skills

Business
Functions
Ready
Skills

#27
 (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)

Entrepre-
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Skills

Business
Functions
Ready
Skills

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