Discussion Topic: Entrepreneurship Education Content Standards
Greetings,
This month's topic is Entrepreneurship Education Content Standards to be
officially released in June 2004 (to be released by the Consortium Of
Entreprenuership Education).
These standards have been circulated for Discussions so that a broader
consensus is arrived at.
Please find below an explanatory narration of what the Entrepreneurship
Education Content
Standards are focussing upon. Please read on and send us your opinions and
we will summarise the same and send it to;
The Consortium Of Entreprenuership Education
(http://www.entre-ed.org/_entre/stanlist.htm):
The Consortium for Entrepreneurship Education supports the concept that
entrepreneurship is a lifelong learning process that has at least five
distinct stages of development. Entrepreneurship education means many
different things to educators...from primary schools to the university,
from vocational education to an MBA. At each level of education, it is
reasonable to expect different outcomes as students mature and build on
previous knowledge. But the overall purpose remains to develop expertise
as an entrepreneur. Five Stages of Lifelong Learning are:
Stage 1 - BASICS: Motivation to learn and a sense of individual
opportunity are the special outcomes at this stage of the lifelong
learning model.
Stage 2 - COMPETENCY AWARENESS: The emphasis is on beginning competencies
that may be taught as an entire entrepreneurship class or included as part
of other courses related to entrepreneurship.
Stage 3 - CREATIVE APPLICATIONS: At this stage, students can take time to
explore business ideas and a variety of ways to plan the business.
Stage 4 - STARTUP: After adults have had time to gain job experience
and/or further education, many are in need of special assistance in
putting a
business idea together.
Stage 5 - GROWTH: Often business owners do not seek help until it is
almost too late. A series of continuing seminars or support groups can
help the
entrepreneur recognize potential problems and deal with them in time.
Educators at each of these stages of entrepreneurship should focus on
their own special outcomes, and reach out for partnerships with educators
at
other levels of this lifelong learning process. There is room for
entrepreneurship in some way everywhere in our educational system.
National Entrepreneurship Education Content Standards have enunciated the
following parameters essential to the development of entrepreneurial
skills. Please send us your opinion on the relevance and scope on these.
DRAFT-For Discussion Purposes Only
The entrepreneurship content standards are divided into three major
sections:
1. ENTREPRENEURIAL SKILLS The Processes and Traits/Behaviors associated
with entrepreneurial success
2. READY SKILLS The basic business knowledge and skills that are
prerequisites or co-requisites for becoming a successful entrepreneur
3. BUSINESS FUNCTIONS The business activities performed by entrepreneurs
in managing the business
Stages of the Entrepreneurial Process:
Overlying the Ready Skills and Business Functions are the Entrepreneurial
Skills, the processes and traits/behaviors applicable to new ventures and
ongoing ventures that create/drive/change economic activity-- new markets,
new products, new businesses, etc. These non-sequential, often
overlapping, stages of the entrepreneurial process are:
Discovery : The stage in the entrepreneurial process in which the
entrepreneur generates ideas, recognizes opportunities, and determines the
feasibility of ideas, markets, ventures.
Concept Development: The stage in the entrepreneurial process in which the
entrepreneur plans the venture and identifies needed resources.
Resourcing: The stage in the entrepreneurial process in which the
entrepreneur identifies and acquires the financial, human, and capital
resources needed for the venture.
Actualization: The stage in the entrepreneurial process in which the
entrepreneur operates the venture and utilizes resources to achieve its
goals/objectives.
Harvesting: The stage in the entrepreneurial process in which the
entrepreneur decides on the venture's future (growth, development, demise)
These five stages of the entrepreneurial process along with the individual
traits and behaviors associated with the successful entrepreneur, comprise
the set of "Entrepreneurship Skills" listed in the National Standards for
Entrepreneurship Education.
ENTREPRENEURIAL SKILLS -
A. Entrepreneurial Processes
Standard: Understands concepts and processes associated with successful
entrepreneurial performance The standard includes: Discovery, Concept
Development, Resourcing, Actualization, Harvesting.
B. Entrepreneurial Traits/Behaviors
Standard: Understands the personal traits/behaviors associated with
successful entrepreneurial performance The standard includes: Leadership,
Personal Assessment, and Personal Management.
READY SKILLS -
C: Business Foundations
Standard: Understands fundamental business concepts that affect business
decision making The standard includes: Business Concepts, Business
Activities.
D. Communications and Interpersonal Skills
Standard: Understands concepts, strategies, and systems needed to interact
effectively with others The standard includes: Fundamentals of
Communication, Staff Communications, Ethics in Communication, Group
Working
Relationships, and Dealing with Conflict.
E. Digital Skills
Standard: Understands concepts and procedures needed for basic computer
operations The standard includes: Computer Basics, Computer Applications.
F. Economics
Standard: Understands the economic principles and concepts fundamental to
entrepreneurship/small-business ownership The standard includes: Basic
Concepts, Cost-Profit Relationships, Economic Indicators/Trends, Economic
Systems, and International Concepts.
G. Financial Literacy
Standard: Understands personal money-management concepts, procedures, and
strategies The standard includes: Money Basics, Financial Services, and
Personal Money Management.
H. Professional Development
Standard: Understands concepts and strategies needed for career
exploration, development, and growth The standard includes: Career
Planning, Job-Seeking Skills.
BUSINESS FUNCTIONS -
I. Financial Management
Standard: Understands the financial concepts and tools used in making
business decisions The standard includes: Accounting, Finance, and Money
Management.
J. Human Resource Management
Standard: Understands the concepts, systems, and strategies needed to
acquire, motivate, develop, and terminate staff The standard includes:
Organizing, Staffing, Training/Development, Morale/Motivation, and
Assessment.
K. Information Management
Standard: Understands the concepts, systems, and tools needed to access,
process, maintain, evaluate, and disseminate information for business
decision-making The standard includes: Recordkeeping, Technology, and
Information Acquisition.
L. Marketing Management
Standard: 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 The standard
includes: Product/Service Creation, Marketing-information Management,
Promotion, Pricing, and Selling.
M. Operations Management
Standard: Understands the processes and systems implemented to facilitate
daily business operations The standard includes: Business Systems, Channel
Management, Purchasing/Procurement, and Daily Operations.
N. Risk Management
Standard: Understands the concepts, strategies, and systems that
businesses implement and enforce to minimize loss The standard includes:
Business
Risks, Legal Considerations.
O. Strategic Management
Standard: Understands the processes, strategies, and systems needed to
guide the overall business organization The standard includes: Planning,
Controlling.
NOTE: These standards will not be available for use until officially
released in June 2004.
DRAFT-For Discussion Purposes Only
Looking forward to your responses.
Regards
Tony Mathur
Discussion Leader
<tony@yesweb.org>
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