# CTE Resource Center - Verso - Entrepreneurship, Advanced 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, Advanced (9094/36 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.

Preparing for Life as an Entrepreneur

  1. Assess risks associated with starting a business.
  2. Identify the risks involved in a business start-up.
  3. Explain the concept of risk management.
  4. Apply business ethics to entrepreneurship.
  5. Write business communications.
  6. Demonstrate negotiation skills.

Understanding Small-Business Management Concepts

  1. Identify the influence of small business/entrepreneurship on market economies.
  2. Explain legal issues related to setting up different business types.
  3. List the steps for acquiring a business license or permit.
  4. Explain regulations that apply to entrepreneurial businesses.
  5. Explain types of intellectual property.
  6. Explain human resources management functions.
  7. Describe issues related to the founding team.
  8. Explore sources of labor.
  9. Develop a job description.
  10. List the steps for hiring employees.
  11. List steps for orienting and training employees.
  12. Explain strategies for motivating employees.
  13. Explain human resources policies for an entrepreneurial enterprise.
  14. Determine insurance coverage needs and the steps in securing insurance coverage.
  15. List the steps for obtaining contract workers.
  16. Identify the uses of technology in entrepreneurship.

Projecting Financial Requirements

  1. Assess personal financial status.
  2. Evaluate funding sources.
  3. Project cash flow.
  4. Describe the importance of keeping good financial records.
  5. Explain the concept of break-even analysis.
  6. Explain key performance indicators (KPI).
  7. Prepare a projected income statement.
  8. Develop a financial model.

Marketing a Business

  1. Explain the concept and importance of marketing research.
  2. Describe the regulation of marketing information management.
  3. Conduct primary and secondary market research for a business.
  4. Use research to analyze an industry.
  5. Explain the concept of channels of distribution.
  6. Describe product positioning strategies.
  7. Explain the role of philanthropy in marketing a business.
  8. Develop a marketing plan.

Understanding Economic Influences on a Business

  1. Identify the stages in the business cycle.
  2. Identify the stages of the product life cycle.
  3. Explain how global trade affects entrepreneurs.

Applying Sales and Customer Service Skills

  1. Explain company selling policies.
  2. Explain warranties/guarantees.
  3. Demonstrate a sales call.
  4. Explain methods to maintain customer loyalty.
  5. Use customer relationship management (CRM) systems to increase sales.

Starting an Entrepreneurial Business

  1. Select a form of business ownership.
  2. Develop a business model and a business plan.
  3. Develop an elevator pitch and an investor pitch.
  4. Describe various exit strategies.
  5. Describe resources used by entrepreneurs for business planning.
  6. Evaluate business acquisition options.
  7. Develop an opening plan.

Maintaining an Entrepreneurial Business

  1. Identify potential crises that may occur in a business and appropriate responses, using SWOT analysis.
  2. Develop a growth plan for a business.
  3. Develop a plan for iterative development and continuous improvement.
  4. Update a product or service.
  5. Compare cash-flow budget against actual performance.
  6. Explain the importance of compiling data for updating a business strategy.
  7. Describe procedures for maintaining regular communication with bankers, supply chain management, and other professionals.
  8. Develop leadership and management skills.