As with many areas of business education, entrepreneurship has a general education as well as a professional education component. All students benefit from developing an appreciation for and understanding of entrepreneurship in our economy: most of the jobs (both professional and technical) created in recent years have been in the small business sector. Forecasts indicate that this trend will continue.

Thinking like an entrepreneur, then, is important, since many of today's students will start their own businesses or work closely with entrepreneurs. Being able to recognize new business opportunities is necessary not only for entrepreneurs but also for individuals working in the increasingly competitive corporate world.

Instruction in entrepreneurship begins with developing the fundamentals in the lower educational grades and advancing to more abstract applications at the upper educational levels, as indicated in these standards. Considering the changing nature of the workplace, few subjects provide knowledge that is more valuable to all students, regardless of their career orientation.

Below is an overview of the achievement standards for the entrepreneurship content area. Each achievement standard states the understanding and competency students should attain. Each achievement standard has corresponding performance expectations. Each performance expectation delineates what students need to do to exhibit the knowledge and the skills required to meet the achievement standard. The corresponding performance expectations for each achievement standard are detailed in the publication.
 

I. Entrepreneurs and Entrepreneurial Opportunities
Achievement Standard: Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics.
 
II. Marketing
Achievement Standard: Analyze customer groups and develop a plan to identify, reach, and keep customers in a specific target market.
 
III. Economics
Achievement Standard: Apply economic concepts when making decisions for an entrepreneurial venture.
 
IV. Finance
Achievement Standard: Use the financial competencies needed by an entrepreneur.
 
V. Accounting
Achievement Standard: Recognize that entrepreneurs must establish, maintain, and analyze appropriate records to make business decisions.
 
VI. Management
Achievement Standard: Develop a management plan for an entrepreneurial venture.
 
VII. Global Markets
Achievement Standard: Analyze the effect of cultural differences, export/import opportunities, and trends on an entrepreneurial venture in the global marketplace.
 
VIII. Legal
Achievement Standard: Analyze how forms of business ownership, government regulations, and business ethics affect entrepreneurial ventures.
 
IX. Business Plans
Achievement Standard: Develop a business plan.

From the National Standards for Business Education © 2001 by the National Business Education Association, 1914 Association Drive, Reston, VA 20191.