Consortium for Entrepreneurship Education

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Accelerating Entrepreneurship Everywhere!
Consortium for Entrepreneurship
Education www.entre-ed.org
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National Content Standards for Entrepreneurship
Education

• Released June 2004
• Consortium for Entrepreneurship Education
• Accelerating Entrepreneurship Everywhere!
• Support by Ewing Marion Kauffman Foundation,
  Kansas City, MO

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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

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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.

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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.

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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

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Entrepreneurship Education
what?

• Entrepreneurs are not bornthey 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
  ones 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

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Lifelong Learning Model
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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

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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

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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)

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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
• ResourcingTesting the feasibility of the plan
• ActualizationStarting and running the business
• Harvesting Deciding on the future of the
  business

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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

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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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(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)

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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)

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(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)

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(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)

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(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)

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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)

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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)

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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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(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)
• Pricing (L.33 L.38)
• Selling (L.39 L.57)

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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)

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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)

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(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)

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Sample Standard and Performance Indicator

• Ready Skills
• (C) Business Foundations
•  
• STANDARD
• Understands fundamental business concepts that
  affect business decision making
•  
• PERFORMANCE INDICATOR(S)
• C.08 Explain the nature of managerial
  ethicsC.09 Describe the need for and impact of
  ethical business practices

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Sample Matrix - Elementary

• Market Place for Kids www.MarketplaceOfIdeas.org
• A statewide program in North Dakota and
  Minnesota.
• Demonstrates how elementary and middle school
  students can work in teams to learn about
  Critical Thinking, Innovation, and Creative
  Problem Solving.
• Sample Lessons
• Innovative Thinking Model Motels
• Entrepreneurship 119 Ways for Kids to Make
  Money
• Inventions 8 Steps to Inventing
• Adventures in Agriculture From Corn to Plastic
• Utilizing the Internet in Entrepreneurship
• Energy Education Lemon Power

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Sample Matrix Youth and Adults

• GoVenture Business and Life Simulations by
  MediaSpark. www.goventure.net
  1-800-331-2282
• A line of international award-winning software
  simulations that offer fun, fast, and effective
  experiential learning in subjects such as
  business and entrepreneurship, investment and
  finance, and career and life skills.
• With GoVenture software simulations, learners
  dont just learn about business, they live it by
  starting and running their own virtual businesses
  on a computer.
• Similar to how pilots train using flight
  simulators, highly visual and realistic GoVenture
  simulations enable youth and adults to gain years
  of experience in minutes.

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Sample Matrix - Secondary

• Buchholz High School Entrepreneurship
  AcademyGainesville, FL
• Approximately 200 students. A four-year elective
  program.
• Course sequence Principles of Entrepreneurship,
  Business Management and Law, Business Ownership,
  and Retail Essentials.
• The classroom takes on the corporate environment
  as students are encouraged
• to think outside the box,
• develop leadership skills,
• demonstrate economic concepts,
• utilize technology,
• become risk takers,
• form partnerships with the business community,
  and
• experience every aspect of a business through a
  variety of business/entrepreneurship simulations

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Sample Matrix Post Secondary

• Springfield Technical Community College
• Student Business Incubator, Springfield, MA
  www.stcc.mass.edu
• A program to bridge the gap between academics and
  real world business experience that assists
  students in starting and growing businesses. To
  be eligible for inclusion in the incubator the
  individual must be a student. Critical assistance
  is provided to overcome the odds of business
  failure.
• Sample Lessons
• Networking - the Basis for your Business Tomorrow
• Sales and the Sales Process How to Create
  Relationships with your Customers
• Marketing on a Shoestring Innovation and
  Strategy
• Financing a Business with little money but lots
  of potential
• Quickbooks for Businesses
• Strategic Planning for Today, Tomorrow and Beyond

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Sample Matrix Post Secondary

• Entrepreneurship Center at Purdue University
  Calumet
• Hammond, IN
• ecenter_at_calumet.purdue.edu
• Adult entrepreneurs participate for 15 months in
  weekly sessions addressing
• Management, Marketing, Accounting, Finance,
  Personnel, Strategic Planning, Business Law, and
  Other Workplace Issues.
• A structured forum in which participants apply
  entrepreneurial skills to a Client Company
• A Roundtable of the business owners serve as an
  advisory committee for each others business.

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Sample Matrix Adult Education

• Rhode Island MicroEnterprise Association
  www.rimicroenterprise.org
• Began in 1999 to serve low and moderate income
  adults.
• Conduct workshops in 20 sites statewide, about 50
  workshops per year.
• FY 3 they helped create 53 new RI businesses, and
  from the 53 new businesses 22 more jobs were
  created.
• Workshops feature Business Planning, Marketing,
  and Financing
• According to AEO (Association for Enterprise
  Opportunity) they are the most efficient and
  cost effective model in the SMA (State Micro
  Association) world.

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The Toolkit

• Visit the Consortium for Entrepreneurship
  Education website to access the FREE Standards
  Toolkit
• www.entre-ed.org

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Toolkit Contents

• Importance of Entrepreneurship Education
• Benefits of Entrepreneurship Education
• Nurturing the Entrepreneurial Spirit
• The Standards
• Overview
• Summary
• Detail
• Curriculum
• Educational Issues
• Examples
• Sources
• Testimonials

• About the Consortium for Entrepreneurship
  Education
• Our Sponsors
• Research Process
• Overview
• Focus Groups
• Validation
• Bibliography
• National Entrepreneur Advisory Council (NEAC)
• FAQ
• Helpful Downloads

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Consortium for Entrepreneurship Education

• Recognized as the national leader in advocating
  entrepreneurship education.
• Champions entrepreneurship education and provides
  advocacy, leadership, networking, technical
  assistance, and resources across all levels and
  disciplines of education, promoting quality
  practices and programs.
• A national membership organization for leaders
  advocating entrepreneurship education, composed
  of national, state and local educational agencies
  and organizations.
• Join us! www.entre-ed.org

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Entrepreneurship Education Forum

• The MAGIC of Entrepreneurship . . .
• Dreams Do Come True!
• Join entrepreneurship education leaders from
  across the US and internationally.
• Orlando, FL
• November 5 8, 2005
• SCHOLARSHIPS AVAILABLE FOR TEACHERS
• Join us! Details at www.entre-ed.org

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Accelerating Entrepreneurship Everywhere!
Consortium for Entrepreneurship
Education www.entre-ed.org