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Examine the characteristics of small business
Assessment Strategies
by preparing a written response to a case study
on a written evaluation
Criteria
case study response includes an identification of the problem(s)
case study response includes potential solutions of the problem(s)
case study response includes an explanation of why the decision was selected
case study response is well organized
case study response evidences correct grammar, punctuation, and spelling
you examine the history of small business
you differentiate entrepreneur, small business manager, and small business owner
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Characterize the main forms of ownership (sole proprietorship, partnership, corporations)
Assessment Strategies
by submitting the results of an interview with a small business manager
on a written evaluation
Criteria
interview report includes the identification of the type of business similar to the type of business you want to open
interview report includes the identification of the legal entity of the business
interview report includes the history of the business
interview report includes the identification of an advisory board or board of directors in relationship to the legal entity of the business
interview report includes the challenges of the business (beginning and current)
interview report includes a list of recommendations for developing the business in today's market
interview report includes advice for a new business owner
you identify the advantages and disadvantages of sole proprietorship business ownership
you identify the advantages and disadvantages of partnership business ownership
you identify the advantages and disadvantages of corporation(s) business ownership
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Summarize the steps in preparing for small business ownership
Assessment Strategies
on a written evaluation
Criteria
you determine if you are a self motivator
you determine if you have the desire to succeed to make money
you determine if you have the desire to succeed to serve your target market
you examine your personal financial situation
you determine if there is a market for what you desire to do
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Explore the relationship between social responsibility, ethics, and strategic planning
Assessment Strategies
by preparing a written response to a case study
on a written evaluation
Criteria
case study response includes an identification of the problem(s)
case study response includes potential solutions of the problem(s)
case study response includes an explanation of why the decision was selected
case study response is well organized
case study response evidences correct grammar, punctuation, and spelling
you determine what is meant by business ethics
you determine when you practice social responsibility
you explore the market forecast to determine the potential success for your business
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Compare the advantages and disadvantages of developing, buying or franchising a business
Assessment Strategies
on a written evaluation
Criteria
you explore the different kinds of franchising business ownership
you identify the advantages and disadvantages of franchising business ownership
you examine the franchising contracts to determine the kinds of ownership protection
you examine the franchising contracts to determine how to dissolve the contract
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Differentiate between a family business and other types of businesses
Assessment Strategies
by preparing a written response to a case study
on a written evaluation
Criteria
case study response includes an identification of the problem(s)
case study response includes potential solutions of the problem(s)
case study response includes an explanation of why the decision was selected
case study response is well organized
case study response evidences correct grammar, punctuation, and spelling
you determine the pros and cons of family business ownership
you identify the legal steps necessary to protect your share of the business
you determine the rights for hiring and firing of family staff
you determine whether or not family heirs want a share of the business
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Explore the central issues of choosing a particular site
Assessment Strategies
on a written evaluation
by submitting a location research paper
by submitting a written layout of your business
Criteria
you differentiate between regional shopping mall, strip mall, string street, central business district, and stand alone
you compare and contrast the advantages and disadvantages of building or renting
you examine contracts in relationship to location (hours, number of employees, parking, delivery, accessibility, etc)
research paper includes the identification of the location studied (state, city, locality within the city)
research paper includes the identification of taxes
research paper includes the composition of the neighborhood
research paper includes the history of the site (previous owners, utilities cost, improvement of the site
research paper includes the size of the site
research paper includes the cost of the site
research paper evidences correct grammar, punctuation, and spelling
layout includes a description of traffic flow
layout includes a description of fixtures
layout includes a description of office space
layout includes a description of the merchandising/planning areas
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Illustrate what marketing research can do for your business
Assessment Strategies
by submitting a completed homework assignment
Criteria
assignment includes the URLs for a minimum of five websites of patents for questionable marketable products
assignment includes the URLs for a minimum of three websites for financial assistance resources
assignment includes the identification of the demographics for their target market
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Explain the need for market segmentation and its process
Assessment Strategies
by submitting a Target Market Evaluation report for your selected business
on a written evaluation
Criteria
report includes the demographics of the primary market
report includes the demographics of the secondary market
report includes the demographics of the fringe market
report includes the identification of competitors (primary, secondary, and tertiary)
report includes whether or not the target market meets the qualifications for potential customers
you determine the qualifications of a customer
you determine if there is a potential profitable market for your business
you differentiate between primary, secondary, and tertiary markets
you differentiate between primary, secondary, and tertiary competitors
you determine if the market will allow for segmentation
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Establish the main considerations in setting a price for a product
Assessment Strategies
on a written evaluation
by preparing a written response to a case study
Criteria
you explain the break-even analysis and why it is important in pricing in a small business
you identify the criteria needed to determine a profitable price for the product
you determine the price at which the product will meet the needs of the customer
you identify how the product life style stages affect the price of the product
case study response includes an identification of the problem(s)
case study response includes potential solutions of the problem(s)
case study response includes an explanation of why the decision was selected
case study response is well organized
case study response evidences correct grammar, punctuation, and spelling
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Explore the functions and activities of managing a small business
Assessment Strategies
by preparing a written response to a case study
on a written evaluation
Criteria
case study response includes an identification of the problem(s)
case study response includes potential solutions of the problem(s)
case study response includes an explanation of why the decision was selected
case study response is well organized
case study response evidences correct grammar, punctuation, and spelling
you identify the critical marketing factors necessary for business success
you determine the conditions necessary to hire staff or seek outside consultants
you determine the importance of maintaining written documentation for business policies and procedures
you determine the importance of training procedures for employees for the operation of the business
you determine the importance of quality control procedures for the operation of the business
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Identify the financial records necessary for a small business
Assessment Strategies
by submitting a sample business plan
on a written evaluation
Criteria
sample business plan includes the identification of the type of business similar to the type of business you intend to open
sample business plan includes the mission statement
sample business plan includes the management organization
sample business plan includes the financial statements (cash flow statements, balance sheets, income statements)
sample business plan is complete
business plan includes
you identify the various types of financial statements
you determine the type of information stated on each financial report
you determine the types of financial information required by the IRS
you determine the types of financial information that needs to be stored and for how long according to the IRS
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Examine the laws and regulations that affect a small business
Assessment Strategies
by submitting an information list of minimum of three small business lawyers
Criteria
you determine where to register the business
you determine where and how to get a tax id number for the business
you determine the laws that affect their employees through the Department of Labor and Human Resources
you determine the types of licenses needed to operate your business (local, county, state, and federal)
you identify any zoning regulations that may affect your business
list includes the names of the small business lawyers
list includes contact information of the small business lawyers
list includes email information of the small business lawyers
list includes questions to be asked of the small business lawyers
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Create a business plan
Assessment Strategies
by submitting the business plan for your future business
Criteria
business plan includes the executive summary
business plan includes a mission statement
business plan includes legal and management structure
business plan includes a description of the potential market
business plan includes a description of the product and/or service plan
business plan includes promotion plans
business plan includes short and long range strategic plans
business plan includes plans for business growth
business plan includes the financial statements
business plan includes means for dissolution of the business