MANAGEMENT AND ENTREPRENEURSHIP



Management and Entrepreneurship WVEIS Code 0416

This course provides a background for the development and operation of a business starting with the role of the entrepreneur in our economy to the development of a business plan and the application of specific marketing skills and concepts within the business environment. This course also explores the planning, organizing and controlling of a business, including organizational and human aspects, with emphasis on various theories of management, the knowledge and understanding necessary for managing people and functions, and decision making.

Standard 1: Careers in Supervision and Management (0416.S.1)

Explore the career of a supervisor/manager.

Supervision and Management Career Objectives

Students will:

0416.1.1 Identify unique characteristics of an entrepreneur.

0416.1.2 Compare and contrast the scientific management, functional, human relations/behavioral school and quantitative approaches of management.

0416.1.3 Identify the characteristics of a successful supervisor/manager.

0416.1.4 Identify and discuss the major demographic and societal trends that will affect supervisors/ managers in the future.

0416.1.5 Summarize the difficulties supervisors/managers face in fulfilling managerial roles.

Standard 2: Managerial Functions of Supervision (0416.S.2)

Apply the managerial functions to a supervisor or manager’s role.

Managerial Function Objectives

Students will:

0416.2.1 Describe and apply the basic steps of the decision-making process.

0416.2.2 Discuss the functions utilized in management.

0416.2.3 Write a mission statement for a business or department.

0416.2.4 Identify examples of strategic plans, tactical plans and operational plans.

0416.2.5 Explain the concept of a chain of command.

Standard 3: Management Communication Skills (0416.S.3)

Explain the importance of effective communication in the manager’s role.

Effective Communication Objectives

Students will:

0416.3.1 Define communication and discuss its implication for effective management in the manager’s role.

0416.3.2 Diagram the communication process and explain the importance of each component to the process.

0416.3.3 Identify barriers to communication and suggest methods to overcome those barriers.

0416.3.4 Compare and contrast the formal, informal, horizontal and vertical channels of communication.

0416.3.5 Demonstrate effective communication skills.

Standard 4: Employee Motivation (0416.S.4)

Apply employee motivational factors to the manager’s role.

Employee Motivation Objectives

Students will:

0416.4.1 Compare various motivation theories and explain their importance for understanding employee behavior.

0416.4.2 Analyze the application of Theory X and Theory Y in motivating employees.

0416.4.3 Classify motivational factors according to Maslow’s hierarchy of needs.

0416.4.4 Define job rotation, job enlargement, and job enrichment and their implications in motivating employees.

0416.4.5 Investigate the significance of Total Quality Management (TQM).

0416.4.6 Explain the concept of authority, responsibility and power as a requirement of any managerial position.

0416.4.7 Define delegation, responsibility and accountability and describe their relationship with one another.

Standard 5: Entrepreneurship (0416.S.5)

Explore the role of an entrepreneur.

Entrepreneur Objectives

Students will:

0416.5.1 Compare and contrast the advantages and disadvantages of the types of ownership.

0416.5.2 Identify entrepreneurial opportunities.

0416.5.3 Analyze the parts of a business plan and components included in each part.

0416.5.4 Write and present a business plan for a small business.

Standard 6: Marketing Plan (0416.S.6)

Write a marketing plan for a small business.

Marketing Plan Objectives

Students will:

0416.6.1 Complete a demographic study to determine a market.

0416.6.2 Determine market potential.

0416.6.3 Identify direct and indirect competition.

0416.6.4 Evaluate competitive strengths and weaknesses.

0416.6.5 Explain the importance of choosing a proper location for a business.

0416.6.6 Describe the different types of goods and services.

0416.6.7 State the marketing concept.

0416.6.8 Utilize market segmentation and target marketing.

0416.6.9 Identify and apply the components of the marketing mix.

0416.6.10 Evaluate the importance of price.

0416.6.11 Describe different pricing strategies.

0416.6.12 Calculate price.

0416.6.13 Describe the steps in the selling process.

Standard 7: Financial Plan (0416.S.7)

Write a financial plan for a small business.

Financial Plan Objectives

Students will:

0416.7.1 Analyze the components of a financial plan.

0416.7.2 Compute capital needs.

0416.7.3 Prepare financial statements (income statement, balance sheet, statement of cash flow).

0416.7.4 Analyze financial statements to ascertain financial health of a business.

0416.7.5 Identify parts of an accounting system.

0416.7.6 Write a personal resume.

0416.7.7 Calculate personal net worth.

0416.7.8 Identify personal/financial assets available to collateralize.

0416.7.9 List potential sources of funds for a business.

Standard 8: Management Plan (0416.S.8)

Write a management plan for a small business.

Management Plan Objectives

Students will:

0416.8.1 Compare and contrast types of business ownership.

0416.8.2 Develop an organizational chart.

0416.8.3 Explain how small businesses recruit effectively.

0416.8.4 Prioritize staffing needs.

0416.8.5 Identify motivational techniques for employees.

0416.8.6 Explain employment laws.

0416.8.7 Monitor results of revenue and explain its impact on inventory, personnel, insurance and promotion.

0416.8.8 Analyze inventory procedures.

0416.8.9 Identify resources available for small business assistance.

0416.8.10 Identify government regulations.

0416.8.11 Research business risks and prevention control.

0416.8.12 List and explain components of a legally enforceable contract.

0416.8.13 Discuss business ethics and social responsibility.[pic]

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