Intro to Business (21st Century Business I)

What does it take to make it in the business world as a business owner?

Can one person make a difference?

1. Essential Learning 1: Students will understand basic concepts of economics in relation to individuals and society.
   1. Assess opportunity costs and trade-offs involved in making choices about how to use scarce economic resources.
   2. Define and give examples of economic wants, needs, goods, and services.
   3. Define and give examples of scarcity and explain why scarcity requires individuals, governments, and societies to make choices.
2. Essential Learning 2: Explain the types of economic systems.
   1. Identify the characteristics of a market, command, and mixed economy.
   2. Compare and contrast the different types of economic systems.
   3. Compare and contrast the basic forms of ownership.
3. Essential Learning 3: Students will understand the basic concepts of personal financial management.
   1. Compare and contrast checking accounts, savings accounts, and electronic monetary transactions.
   2. Evaluate savings and investment options to meet short-term and long-term goals..
4. Essential Learning 4: Students will describe common forms of credit and analyze factors that affect credit.
   1. Define credit and how it is used to purchase goods and services.
   2. Define interest as a cost of credit and explain why it is charged.
   3. Describe the risks and responsibilities associated with using credit.
   4. Students will take and complete the Everfi-credit computer unit with a satisfactory score.
   5. Students will identify methods of establishing and maintaining a good credit rating.
5. Essential Learning 5: Students will comprehend unique characteristics and basic skills of an entrepreneur and that entrepreneurial innovation is an important source of economic growth.
   1. Students will describe desirable entrepreneurial traits and evaluate personal capabilities..
   2. Students will conduct self-assessment to determine entrepreneurial potential.
   3. Students will compare and contrast the differences between being the employer and the employee.
   4. Students will describe entrepreneurial opportunity and formulate the steps in establishing a business oriented toward thatopportunity.
6. Essential Learning 6: Students will understand career opportunities related to careers in business..
   1. Compile a list and describe careers in the Business, Marketing, and Management Career Field.
7. Essential Learning 7: Students will analyze the organization of a business.
   1. Students will Identify and provide examples of the basic forms, as well as variations of, business ownership.
   2. Compare and contrast the basic forms of ownership (e.g., sole proprietorship, partnership, and corporation).
   3. Identify variations of basic forms of ownership (e.g., franchise, cooperative, limited liability company, S corporation, non-profit).
   4. Categorize ownership forms of local businesses.
   5. Interview a local business owner/manager to explore career possibilities and necessary preparation.
   6. Differentiate between the various types of businesses (e.g., producer, processor, manufacturer, intermediary, wholesaler, retailer, and service).
   7. Examine the opportunities and risks of entrepreneurship.
8. Essential Learning 8: Students will identify fundamental marketing concepts.
   1. Students will Define and apply the elements of the marketing mix and identify the functions of marketing.
   2. Discuss the elements of the marketing mix pertaining to a product.
   3. Create the marketing mix for the product/business developed in Introduction to Business, Marketing, and Management Course Benchmark 2.3.
   4. Discuss the functions of marketing.
   5. Students will drop down lists in excel worksheets
9. Essential Learning 9: Students will acquire a foundational knowledge of accounting to understand its nature and scope.
   1. Using Define and apply the components of the accounting equation. Define and give examples of assets, liabilities, and owner’s equity. Develop a personal balance sheet.
   2. Identify several types of financial records used by businesses.
10. Essential Learning 10: Students will use a rational decisionmaking process as it applies to managing financial resources.
    1. Students will Acquire knowledge of the banking industry to understand the environment in which its services are offered. Summarize the operations of a commercial bank.
       Evaluate the role of the Federal Reserve System in regulating the money supply.
    2. Students will Implement financial skills to obtain credit and maintain solvency.

Business Games: Tycoon Business, Hot-Shot Business, Lemonade Stand, JA Titan

Business Plan Links: 7 Best Free Business Plan Templates, Free Sample Business Plans, Make Your Business Plan for Free, U.S. Small Business Administration, StartUpBiz.com, America’s Business Funding Directory, MoreBusiness.com,

Business Videos: 30 Days on Minimum Wage, Shark Tank, The Profit, Broke Busted and Disgusted, CNBC, All the Queens Horses, Crossing the Line, The Big Short

Business Books: Oh the Places You Will Go, Start with Why