Class Description

Do you have an interest in starting your own business someday? Would you like to be at the controls of a business and test your ability to manage a business? This course is designed to give you hands on experience that you can take to the real world of business ownership. Topics covered are the following: should you become an entrepreneur?, what skills do you need?, type of business ownership, how to develop a business plan, how to identify a market, finance your business, choose location, market your business, how to hire, record keeping, ethical issues as a Christian business owner, etc. Also you get to experience a virtual retailing simulation on the computer! Be your own boss! Course is an elective for seniors.

Class Expectations

Testing Information:

1. Short test after each chapter.
2. Performance evaluation on the simulation.

Daily Work:

1. Work done in class or using study hall time.
2. Out of class study will be mainly for tests, special projects, and workbook assignments
3. How you apply yourself in class, work assignments, and time and effort on the simulation will be graded and taken into consideration for part of your grade.

Miscellaneous:

1. Your level of interest, input, and interaction in the class will determine your overall success.

Final Grade:

1. Final grade is based on chapter tests, homework assignments, and participation in class.
2. Part of your grade will be tied to the simulation (lessons and quizzes).
3. There is no final exam in this course because this a senior only elective course.

Class Outline

I. Introduction

A. Purpose of Class
1. Is being an Entrepreneur for you?
2. Develop skill to set up and run a business.
3. Gain skills through a hands on virtual business simulation.
4. Exploring business ethics as a Christian.
II. Becoming an Entrepreneur
A. Should you become?
1. Self evaluation.
B. What skills do you need?
1. Communication, math, and problem solving.
C. Entrepreneurs in a market economy.
1. What is an economy?
2. Supply, demand, and cost.
3. Government in our economy.
D. Types of ownership.
1. Identify different types of ownership.
2. Advantages and disadvantages.
3. Choosing a legal form of business.
E. Develop a business plan.
1. Why do you need one?
2. What goes into a plan?
3. Create a plan.
F. Identify and meet a market need.
1. Value of.
2. How to perform market research.
3. Identify your competition.
G. Financing, protecting, and insuring.
1. Financial plan.
2. Obtaining financing.
3. Insurance needs.
H. Choosing location and set up.
1. Finding a site.
2. Layout and equipment.
I. Marketing your business
1. Understanding the marketing mix.
2. Promoting.
3. Setting goals.
J. Hiring and Managing staff.
1. Hiring procedures.
2. Creating a compensation package.
3. Manage your staff.
K. Keeping records and accounting.
1. Set up a record keeping system.
2. Need for basic accounting.
` 3. Keeping track of inventory.
L. Financial management.
1. Cash flow.
2. Analyzing your financial performance.
3. Seeking expert help.
M. Use of technology.
1. What is best for your business?
2. Internet use.
N. Legal, ethical, and social obligations.
1. Legal responsibilities.
2. Ethical issues as a Christian business person.