Youth Entrepreneurs

The following learning targets represent the major concepts studied and assessed in this course. 

Intro to YE 

• OBJECTIVE 1: Students will define and describe Principled Entrepreneurship 
• OBJECTIVE 2: Students can articulate why long-term success requires principled behavior and never includes gains through coercion. 
• OBJECTIVE 3: Students will develop an entrepreneurial way of thinking by routinely recognizing problems as opportunities to create value. 
• OBJECTIVE 4: Students will learn how to apply economic problem-solving skills to real-world problems in order to create value in society 
• OBJECTIVE 5: Students will apply marketing concepts to real projects 
• OBJECTIVE 6: Students will apply business operations concepts to projects 

Intro to Entrepreneurship 

• Identify the characteristics of a successful entrepreneur 
• Match one’s individual characteristics and interests to those of a successful entrepreneur 
• Explain the process of starting a new business 
• Compare and contrast the rewards and risks of owning a business 
• Identify the components of a business plan (e.g., description of company, description of service/product) 

Economics 

• Distinguish between goods and services 
• Identify economic systems 
• Classify economic resources 
• Understand the basic economic problem 
• Describe the relationship between supply, demand, and price 
• Explain the effects of inflation and deflation 
• Describe the four phases of the business cycle 
• Analyze economic indicators (e.g., CPI, unemployment, GNP, GOP) 
• Distinguish roles of individuals in the economy 
• Identify the impact of the global economy on consumers 
• Explain economic interdependence (e.g., importing, exporting) 
• Describe the major components of the U.S. Economy 

Marketing 

• Describe small business marketing. 
• Identify the components of a formal marketing plan.
• Discuss the nature of the marketing research process. 
• Define market segmentation and its related strategies. 
• Explain the different methods of forecasting sales 

Business Finance 

• To Understand the following: 
• Fixed and Variable Costs 
• Cost of Goods Sold 
• Labor Costs 
• Start-up Costs 
• Channels of Distribution 
• Supply and Demand 
• Net vs. Gross Income 
• Projected Income Statement 
• Projected Sales 
• Return on Sales 
• Breakeven 

Market Day 

• Students will gain hands-on learning experience in the following: ● Market Research 
• Financials 
• Marketing 
• Bid 
• Market Day 
• Post Market Day Reflection 

Business Model Canvas 

• An overview of the Business Model Canvas 
• The balance between planning and executing 
• Understanding the business model 
• Resources for Business Model Preparation 
• Keeping the Right Perspective