# CTE Resource Center - Verso - Entrepreneurship Task/Competency List

CTE Resource Center - Verso

Virginia’s CTE Resource Center

The 2019 edition of this course is still available. Click here.

2020/2021 Competency-Based Task/Competency List for Entrepreneurship (9093/36 weeks)

Tasks/competencies bordered in blue are considered optional when marked as such; they and/or additional tasks/competencies may be taught at the discretion of the school division. All other tasks are considered essential statewide and are required of all students.

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Demonstrating Personal Qualities and Abilities

  1. Demonstrate creativity and innovation.
  2. Demonstrate critical thinking and problem solving.
  3. Demonstrate initiative and self-direction.
  4. Demonstrate integrity.
  5. Demonstrate work ethic.

Demonstrating Interpersonal Skills

  1. Demonstrate conflict-resolution skills.
  2. Demonstrate listening and speaking skills.
  3. Demonstrate respect for diversity.
  4. Demonstrate customer service skills.
  5. Collaborate with team members.

Demonstrating Professional Competencies

  1. Demonstrate big-picture thinking.
  2. Demonstrate career- and life-management skills.
  3. Demonstrate continuous learning and adaptability.
  4. Manage time and resources.
  5. Demonstrate information-literacy skills.
  6. Demonstrate an understanding of information security.
  7. Maintain working knowledge of current information-technology (IT) systems.
  8. Demonstrate proficiency with technologies, tools, and machines common to a specific occupation.
  9. Apply mathematical skills to job-specific tasks.
  10. Demonstrate professionalism.
  11. Demonstrate reading and writing skills.
  12. Demonstrate workplace safety.

Examining All Aspects of an Industry

  1. Examine aspects of planning within an industry/organization.
  2. Examine aspects of management within an industry/organization.
  3. Examine aspects of financial responsibility within an industry/organization.
  4. Examine technical and production skills required of workers within an industry/organization.
  5. Examine principles of technology that underlie an industry/organization.
  6. Examine labor issues related to an industry/organization.
  7. Examine community issues related to an industry/organization.
  8. Examine health, safety, and environmental issues related to an industry/organization.

Addressing Elements of Student Life

  1. Identify the purposes and goals of the student organization.
  2. Explain the benefits and responsibilities of membership in the student organization as a student and in professional/civic organizations as an adult.
  3. Demonstrate leadership skills through participation in student organization activities, such as meetings, programs, and projects.
  4. Identify Internet safety issues and procedures for complying with acceptable use standards.

Exploring Work-Based Learning

  1. Identify the types of work-based learning (WBL) opportunities.
  2. Reflect on lessons learned during the WBL experience.
  3. Explore career opportunities related to the WBL experience.
  4. Participate in a WBL experience, when appropriate.

Understanding Entrepreneurship

  1. Explain the concept of entrepreneurship.
  2. Explain the concept of intrapreneurship.
  3. Explain the importance of social entrepreneurship.
  4. Describe goals of being an entrepreneur.
  5. Describe the entrepreneurial mindset.
  6. Research entrepreneurs.
  7. Describe the role of innovation in entrepreneurship.
  8. Explain entrepreneurial roots of opportunity.
  9. Examine career opportunities in entrepreneurship.
  10. Describe the purposes and types of business communication.
  11. Identify types and components of an oral presentation.
  12. Describe trends in entrepreneurship.

Understanding Design Thinking and Business Model Development

  1. Demonstrate the design thinking process.
  2. Define lean start-up.
  3. Identify lean start-up concepts.
  4. Identify the components of the business model canvas.
  5. Demonstrate value proposition design.

Understanding Business Ownership

  1. Describe common types of business ownership.
  2. Describe the four types of businesses.
  3. Analyze strategies that can be used to manage the risks of a new business.
  4. Describe types of entrepreneurial businesses.
  5. Explain the concept of organizational structures.
  6. Identify resources for entrepreneurs.

Understanding Financial Statements

  1. Explain the purpose of income/profit and loss statements, cash-flow statements, balance sheets, and start-up costs.
  2. Describe the purpose of a financial model (pro forma).
  3. Explain the economics of one unit (EOU).
  4. Identify tax-related responsibilities.

Understanding Marketing Principles

  1. Explain the components of the marketing mix.
  2. Describe outbound and inbound marketing.
  3. Explain the concept of target market.
  4. Explain the purpose of branding.
  5. Identify the elements of the promotional mix.
  6. Develop a sample of each element in the promotional mix.
  7. Describe the marketing functions and their importance.
  8. Identify sources for locating vendors and suppliers.

Understanding Basic Economic Principles

  1. Explain the law of supply and demand.
  2. Identify the major economic systems.
  3. Explain opportunity cost.
  4. Explain pricing strategies.
  5. Explain break-even point.

Developing Sales and Customer Service Skills

  1. Identify the types of selling.
  2. Explain the importance of customer service.
  3. Explain key factors in building and retaining a clientele.
  4. Explain the benefits of customer loyalty.
  5. Demonstrate the steps of the sale.

Planning an Entrepreneurial Venture

  1. Identify venture opportunities in the school or community.
  2. Analyze potential competitors.
  3. Explain the concept of SWOT analysis.
  4. Create a business model.
  5. Develop an elevator pitch and an investor pitch.
  6. Explain the importance of business ethics.
  7. Describe business costs.
  8. Explain the process of projecting initial funding requirements.
  9. Develop a mission statement.
  10. Develop a vision statement.
  11. Develop a business plan.