Common Planner
K–12 Standards

Entrepreneurship I: Grades 10, 11, 12

Other Arkansas CTE sets

The World of Entrepreneurship

  • 1.1

    Define terminology

    1. 1.

      Prepare a list of terms with definitions1.1.1

  • 1.2

    Discuss the world of entrepreneurship

    1. 1.

      Profile the personality traits of successful entrepreneurs1.2.1

    2. 2.

      Explore business opportunities1.2.2

  • 1.3

    List entrepreneurial skills

    1. 1.

      Discuss and apply math skills1.3.1

    2. 2.

      Describe and utilize effective communication skills1.3.2

    3. 3.

      Apply problem-solving process1.3.3

    4. 4.

      Encourage involvement in student business organizations1.3.4

  • 1.4

    Compare economic structures

    1. 1.

      Describe different economic systems1.4.1

    2. 2.

      Define the concept of supply and demand1.4.2

    3. 3.

      Explain the effects of market structure and price1.4.3

  • 1.5

    Describe the role of government in a market economy

    1. 1.

      Explain the government's effect on what is produced1.5.1

Planning a Business

  • 2.1

    Define terminology

    1. 1.

      Prepare a list of terms with definitions2.1.1

  • 2.2

    Discuss business ownership

    1. 1.

      Explain advantages and disadvantages of buying an existing business2.2.1

    2. 2.

      Explain advantages and disadvantages of owning a franchise2.2.2

    3. 3.

      Explain advantages and disadvantages of a sole proprietorship2.2.3

    4. 4.

      Explain advantages and disadvantages of a partnership2.2.4

    5. 5.

      Explain advantages of disadvantages of a corporation2.2.5

    6. 6.

      Evaluate the different types of ownership, and determine which is best for the occasion2.2.6

  • 2.3

    Describe the process for developing an effective business plan

    1. 1.

      Explain the purposes of a business plan and its importance2.3.1

    2. 2.

      List and understand the parts of a business plan2.3.2

    3. 3.

      Research resources for your business plan2.3.3

Marketing the Business

  • 3.1

    Define terminology

    1. 1.

      Prepare a list of terms with definitions3.1.1

  • 3.2

    Discuss the need for market research (customer, community, and competition)

    1. 1.

      List the steps of market research3.2.1

    2. 2.

      Determine market potential3.2.2

    3. 3.

      Identify competition3.2.3

  • 3.3

    Discuss the importance of location and facilities

    1. 1.

      Explain the importance of choosing the proper location for a business (retail and non-retail)3.3.1

    2. 2.

      Evaluate all aspects of potential facilities (physical layout, equipment, supplies, inventory)3.3.2

  • 3.4

    Develop a marketing plan

    1. 1.

      Define marketing mix3.4.1

    2. 2.

      Identify the different elements of the product mix3.4.2

    3. 3.

      Describe the channels of product distribution3.4.3

    4. 4.

      Describe product pricing methods3.4.4

    5. 5.

      Explain the forms of product promotion and selling3.4.5

    6. 6.

      Explain the importance of marketing goals3.4.6

Financial Management

  • 4.1

    Define terminology

    1. 1.

      Prepare a list of terms with definitions4.1.1

  • 4.2

    Explain procedures for financing a business

    1. 1.

      Understand and prepare financial statements4.2.1

    2. 2.

      List sources of loans and other assistance4.2.2

  • 4.3

    Explain the concept of cost

    1. 1.

      Identify various types of costs4.3.1

    2. 2.

      Discover how different types of costs effect the price entrepreneurs charge4.3.2

  • 4.4

    Explain records/inventory management

    1. 1.

      Identify the types of business records4.4.1

    2. 2.

      Compare advantages/disadvantages of computerized record keeping4.4.2

    3. 3.

      Discuss the types of financial statements prepared by businesses4.4.3

    4. 4.

      Describe methods of tracking/managing inventory4.4.4

  • 4.5

    Discuss financial management

    1. 1.

      Explain methods for managing cash flow4.5.1

    2. 2.

      Discuss analyzing financial statements to determine financial performance4.5.2

Human Resources Management

  • 5.1

    Define terminology

    1. 1.

      Prepare a list of terms with definitions5.1.1

  • 5.2

    Discuss hiring personnel

    1. 1.

      Discuss the importance of a job description and an organizational structure5.2.1

    2. 2.

      List methods for recruiting employees5.2.2

    3. 3.

      Describe the steps in hiring employees5.2.3

    4. 4.

      Discuss employee compensation plans5.2.4

  • 5.3

    Discuss managing personnel

    1. 1.

      Analyze methods for training, motivating, and evaluating employees5.3.1

Frequently asked questions

What grade levels do these standards cover?
Grade 10, Grade 11, and Grade 12
When were these standards adopted?
2009
Where can I read the official document?
Entrepreneurship I

Keep exploring

Keep exploring CTE standards

Sibling grade bands, other subjects in this jurisdiction, and the same subject across other states.

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