Entrepreneurship II (ME12) (2024)

Understand business planning, business ethics, and resources. 

Understand costs and risks of starting up and running a business. 

Understand how financial procedures track money flow and determine financial status. 

Apply the marketing mix to an entrepreneurial venture. 

Apply knowledge to develop a business plan. 

Explain the nature of business plans. 

Understand how to develop an organizational plan for human resources. 

Explain the use of business ethics in entrepreneurship. 

Summarize the external resources useful to entrepreneurs during concept development. 

Explain start-up requirements for a business. 

Explain how to determine cost of product using breakeven, ROI, and markup. 

Understand how to calculate the break-even point. 

Explain the nature of risk management. 

Explain the nature of overhead/operating costs. 

Summarize the nature of income statements. 

Summarize the nature of cash flow statements. 

Summarize the nature of balance sheets. 

Plan the product and service mix for a business. 

Identify approproate channels of distribution for a business. 

Develop a promotional plan for a business. 

Calculate prices for products and service prices. 

Conduct an organizational SWOT analysis. 

Implement an action plan. 

Implement a business plan.