Entrepreneurship: The Venture
Grade 11, College Preparation (BDI3C)
Course Summary: Focusing on ways in which entrepreneurs recognize opportunities, generate ideas and organize resources to plan successful ventures. Students will develop a venture plan for a school-based or student-run business. Through hands-on experiences, students will develop values, traits and skills for success as entrepreneurs.
Youthrive Coverage: 75%
Explicit Teaching Coverage: 50%
Experiential Learning: 15%
Reflective Journalling: 10%
Enterprising People and Entrepreneurs
The Characteristics and Contributions of an Enterprising Person
Develop a profile of an enterprising person.
Identify opportunities for students to engage in enterprising activities in school and in the community.
Analyze the personal benefits of being an enterprising person.
Explain how students can use and develop their skills in enterprising ways.
Characteristics and Contributions of an Entrepreneur
Develop a profile of a typical entrepreneur by researching a diverse group of successful entrepreneurs, including Aboriginal entrepreneurs.
Distinguish between an entrepreneur and an enterprising person.
Compare the challenges and opportunities facing young entrepreneurs with those facing adult entrepreneurs
Identify the skills required for entrepreneurial success.
Outline the importance of incorporating ethical practices and social responsibility when operating a business venture.
Describe the impact that local entrepreneurs have had on the community.
Describe how entrepreneurs have been agents of change.
Describe the effect that changes brought about by entrepreneurs have had on the lives of people.
Self-Assessment
Describe opportunities they have had to demonstrate enterprising and entrepreneurial characteristics and skills.
Conduct a self-assessment of their entrepreneurial characteristics and skills.
Identify ways of measuring, evaluating, and developing their interest in potential enterprising and entrepreneurial careers.
Ideas and Opportunities for New Ventures
Invention and Innovation
Distinguish between invention and innovation.
Describe the needs and wants that have been satisfied by Canadian inventions and innovations.
Describe how Canadian entrepreneurs have used inventions and/or innovations to start new ventures.
Distinguish between an idea and an opportunity.
Sources of Opportunities and Ideas
Explain how new ventures have been developed in response to consumer needs or wants.
Describe how similar needs and wants have been satisfied in different ways.
Analyze, using a variety of sources, current economic trends and social trends in order to generate ideas for new ventures.
Generating Ideas and Identifying Opportunities
Apply creative-thinking strategies to determine possible solutions to unsatisfied needs and wants in the school or the community.
Use a variety of sources to identify potential opportunities for new ventures in the school or the community.
Apply a decision-making model to select a feasible idea for a new good or service that can become the basis for a venture plan for a school-based or student-run business.
Use methods of marketing research to determine whether demand exists for their proposed good or service.
Evaluating and Idea or Opportunity for a Venture
Use appropriate sources to identify the characteristics of potential target markets for their proposed good or service.
Evaluate the opportunity or idea for their proposed venture to determine its viability.
Identify and assess the potential competition for their proposed good or service.
Identify the services required for the proposed venture and assess their potential impact on the venture.
The Benefits of a Venture Plan
The Importance of Having a Venture Plan
Describe the purpose of a venture plan.
Explain the importance of having a plan that is organized according to a formal and accepted structure and is professionally presented.
Identify the people or organizations that might be interested in a venture plan.
Components of a Venture Plan
Identify and describe the components of a venture plan.
Describe sources of information and advice that may facilitate the preparation of a venture plan.
Use the computer to access the venture plan templates that are available from banks, government departments, and private companies to help prepare a venture plan.
Evaluating and Revising a Venture Plan
Describe why it is important for a venture plan to be flexible, ethical, and adaptable.
Forecast conditions that may require the revision of a venture plan.
Explain how people in the community may contribute to the evaluation and revision of a venture plan.
Explain how producing a thorough and accurate venture plan might reduce startup costs and financial risk.
Developing and Completing a Venture Plan for the Proposed Business
Resource Analysis
Determine what land, buildings, capital, equipment, and services are required to operate their proposed business venture.
Identify and describe the applicable insurance and regulatory requirements that must be met in starting their proposed venture.
Determine the human resource needs for their proposed venture.
Compare the various forms of business ownership and determine which form is best suited to their proposed venture.
The Production Plan
Describe the process involved in producing a new product or delivering a new service.
Determine the production process that is most appropriate for their chosen venture.
Determine the goods and potential suppliers that are required for their chosen venture.
Identify the principles of inventory management and explain the importance of inventory management for an entrepreneur.
The Marketing Plan
Compare ways in which a specific good or service can be distributed to customers.
Identify the most appropriate method to deliver their good or service.
Compare ways of advertising and promoting a venture, and create appropriate advertisements and promotional strategies for their chosen venture.
Assess methods used to price a new good or service and determine which method is most appropriate for pricing their good or service.
Describe the strategy used to determine the price for their new good or service.
The Financial Plan
Analyse financial goals that an entrepreneur might establish for a new business venture.
Analyze specific financial goals for their chosen venture.
Assess the importance of a cash-flow projection and create such a projection for their venture plan.
Calculate the start-up capital needed for their chosen venture.
Identify sources and methods of financing their chosen venture.
Completing the Venture Plan
Develop the overview of their venture plan.
Revise the components of their venture plan and use them to produce a complete venture plan.
Use appropriate information technology to produce their venture plan.
Demonstrate the effective use of business communication techniques when developing, carrying out, and presenting their venture plan.