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K–12 Standards

Business Ownership (2022)

Other Florida CTE sets

Analyze the changing role of entrepreneurship in the global marketplace – the student will be able to:26.0

  • 1

    Evaluate the importance of entrepreneurship to the global economy; identify and research famous entrepreneurs.26.01

  • 2

    Analyze business trends created by changes in technology.26.02

  • 3

    Examine the innovations and inventions throughout history that created businesses.26.03

  • 4

    Summarize the factors that lead to increased interdependence within the global marketplace.26.04

  • 5

    Analyze the impact of international law on sales transactions.26.05

  • 6

    Analyze the impact that economy has on business decisions (e.g. pandemic, pivot of businesses, business creativity, etc.).26.06

Compare and contrast management theories – the student will be able to:27.0

  • 1

    Identify the motivational theories that impact management (e.g. Maslow, Herzberg, Vroom, McGregor, etc.).27.01

  • 2

    Determine the wants, needs, and motives of a particular audience and identify an appropriate motivational strategy.27.02

  • 3

    Define and discuss the impact of Total Quality Management (TQM) on the global marketplace.27.03

Explain the role of management in the operation of an enterprise – the student will be able to:28.0

  • 1

    Analyze and explain the functions of management.28.01

  • 2

    Prepare an organizational chart and explain its importance.28.02

  • 3

    Interpret the term control and explain its importance in operating a business.28.03

  • 4

    Discuss the various aspects of supervising employees and the role of employees in the workplace.28.04

  • 5

    Analyze the relationship of government entities (i.e. federal, state, local) to small and large businesses; note the differences in certain laws (e.g. Family and Medical Leave Act, etc.).28.05

  • 6

    Provide examples of regulations that affect small and large businesses.28.06

  • 7

    Identify the various types of taxes levied on a small business.28.07

  • 8

    Compare sources of technical assistance for the small business owner.28.08

List the components of a business plan, including a lean business model canvas, and explain how such a plan contributes to the success of a small business – the student will be able to:29.0

  • 1

    Describe the components of a business plan (e.g. executive summary, introduction, analysis of business situation, planned operation, planned financing, lean business model canvas, etc.).29.01

  • 2

    Analyze the importance of a business plan in developing a business idea and evaluating success.29.02

  • 3

    Select the data, graphics, maps, and diagrams to include in a business plan.29.03

  • 4

    Utilize current technology for research and communication in the development of a business plan.29.04

  • 5

    Evaluate the possibility of and procedures for buying an existing business or franchise.29.05

Prepare an introduction for a business plan, including a lean business model canvas – the student will be able to:30.0

  • 1

    Identify and describe the type of business.30.01

  • 2

    Analyze how current or changing economic situations create an unfulfilled consumer demand for the business.30.02

  • 3

    Evaluate various corporate mission statements and develop an individualized mission statement for the selected business.30.03

  • 4

    Compose a description of the product/service and the advantages and benefits the product/service will provide customers.30.04

  • 5

    Substantiate why the business will be successful.30.05

  • 6

    Identify the reasons businesses fail and evaluate the causes.30.06

  • 7

    Utilize the SMART (Specific, Measurable, Achievable, Relevant & Time-bound) method of goal setting and develop realistic and attainable goals.30.07

Prepare a self-analysis – the student will be able to:31.0

  • 1

    Describe personal education, work experience, entrepreneurial mindset, training, strengths, and weaknesses relevant to the operation of a business.31.01

  • 2

    Develop a timeline for the personal development required for a specific field of business; outline the steps needed to acquire skills and obtain licensure.31.02

  • 3

    Describe personality traits and work habits relevant to the operation of a business; compare to the individual’s traits and habits.31.03

Prepare an analysis of the trading area – the student will be able to:32.0

  • 1

    Analyze the trading area with respect to geographic, demographic, and economic data by utilizing Internet-based resources (i.e. www.census.gov).32.01

  • 2

    Assess the competition and the effects of seasonal fluctuations.32.02

Prepare a market segment analysis – the student will be able to:33.0

  • 1

    Analyze the target market by geographical area, demographics, lifestyles, and product benefits.33.01

  • 2

    Explain the importance of market segmentation.33.02

  • 3

    Describe customer buying behavior related to the proposed business.33.03

  • 4

    Analyze the customer base relative to local market demographics.33.04

Prepare an analysis of a potential location – the student will be able to:34.0

  • 1

    Evaluate the availability, costs, traffic patterns, accessibility, and proximity to competition of an appropriate business location.34.01

  • 2

    Research the cultural, financial, vocational, age, and mobility characteristics of the inhabitants of the potential location.34.02

  • 3

    Determine the advantages and disadvantages of different types of business locations.34.03

  • 4

    Understand different types of commercial leases and practice the calculations needed to establish rent.34.04

  • 5

    Determine the steps involved in selecting a specific business site.34.05

Prepare a description of the proposed organization of the selected business – the student will be able to:35.0

  • 1

    Determine the type of ownership best suited to the business situation.35.01

  • 2

    Identify the steps required to form a business.35.02

  • 3

    Outline the steps for the hiring of employees.35.03

  • 4

    Prepare an organizational chart.35.04

  • 5

    Create job descriptions for the identified positions.35.05

Prepare a description of the proposed products and/or services – the student will be able to:36.0

  • 1

    Summarize the features, benefits, and advantages of the products and services to be offered.36.01

  • 2

    Identify potential suppliers and/or manufacturers.36.02

  • 3

    Develop an inventory policy, if applicable.36.03

Prepare a proposed pricing policy – the student will be able to:37.0

  • 1

    Identify the elements of a pricing policy and the reasons for developing a pricing policy.37.01

  • 2

    Explain the relationship to one’s competitors.37.02

  • 3

    Understand all aspects of pricing and the impact of pricing on the bottom line of the business.37.03

  • 4

    Identify pricing incentive options.37.04

  • 5

    Describe pricing strategy decisions.37.05

  • 6

    Define and describe profit margin.37.06

  • 7

    Determine how to compute profit margin.37.07

Prepare a marketing strategy – the student will be able to:38.0

  • 1

    Determine and describe an appropriate store image.38.01

  • 2

    Select a promotional mix for the business.38.02

  • 3

    Establish promotional objectives for the business.38.03

  • 4

    Identify the methods of promotion to be used by comparing and contrasting costs versus benefits.38.04

  • 5

    Explore various advertising mediums and the costs associated with each type.38.05

  • 6

    Develop a promotional plan; include sales promotion.38.06

  • 7

    Develop ideas for obtaining publicity, including using a social media campaign, press release, etc.38.07

  • 8

    Find websites or apps within the specific industry; compare/contrast the elements of each site or each app for effectiveness.38.08

  • 9

    Plan and create a website and/or an app for the business.38.09

  • 10

    Identify the role of customer service, including customer empathy, D4D, etc.38.10

Develop a financial plan for a small business – the student will be able to:39.0

  • 1

    Estimate the dollar amount required to open a business.39.01

  • 2

    Compare available funding sources; identify the amount of personal financial commitment necessary to open a business.39.02

  • 3

    Use a financial calculator or an online program to determine the loan payment and amortization of a business loan.39.03

  • 4

    Prepare a plan to repay borrowed funds or to provide return on investment to equity funds.39.04

  • 5

    Project monthly and annual business income for the first year of operation.39.05

  • 6

    Estimate monthly and annual cash flow for the first year of operation.39.06

  • 7

    Calculate the sales volume required for the first year of operation to be profitable.39.07

  • 8

    Prepare a statement of opening assets, liabilities, and net worth.39.08

  • 9

    Prepare a cash flow projection for the simulated business.39.09

  • 10

    Prepare a five-year financial plan.39.10

  • 11

    Develop a summary of key points for supporting financial requests.39.11

Demonstrate the uses of marketing-related software – the student will be able to:40.0

  • 1

    Perform application data entry procedures.40.01

  • 2

    Perform merchandising math data entry procedures (e.g. stock turnover, markup, markdown, open to buy, pricing, invoicing, etc.).40.02

  • 3

    Analyze a marketing spreadsheet in a decision-making situation, such as the Return on Investment (ROI), cash flow analysis, etc.40.03

  • 4

    Design and prepare an advertising brochure, social media campaign and other forms of digital advertising.40.04

  • 5

    Discuss the importance of email, scanning/sending operations, social media, online payment providers and other online services.40.05

Apply a career plan to entrepreneurship – the student will be able to:41.0

  • 1

    Develop a plan for pursuing a career as an entrepreneur, including incubator opportunities, funding opportunities, training and educational requirements, skills and abilities, steps for reaching career goals, etc.41.01

  • 2

    Demonstrate specific technology applications related to a career plan.41.02

  • 3

    Develop a digital career portfolio.41.03

  • 4

    Complete an investors’ pitch in pursuit of startup funds.41.04

Frequently asked questions

What grade levels do these standards cover?
Grade 9, Grade 10, Grade 11, and Grade 12
Where can I read the official document?
Entrepreneurship

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