Explain rationale for starting a business by utilizing market research
Describe a business, it’s products/services, and customers
Compare types of ownership for a business, and select best option
Determine organizational structure and management skills needed to operate a business
Assess locations for a business
Creating the Business Plan (Organizing the structure of the business)
The Business Plan format used in this unit closely follows the “DECA Entrepreneurship Participating” event. It is a 10-page business prospectus, and can be easily completed by students. This format contains all the common components of a business plan, however some parts are combined to shorten the document.
It’s advised for teachers/students to get a copy of this format on the DECA or USOE website. (http://www.deca.org/pdf/ENPI-ENPFguide.pdf)
Students, however, are not required to use this format. Other formats are available from FBLA, DECA, the USOE website, or on the internet.
IMPORTANT: Before you start your company… Check with your state, accountants, or attorneys to determine which form of legal ownership most benefits your needs, company size, financial status, and issues of liability.
Source: Entrepreneurship and Small Business Management , Glencoe, 2006, pg. 143. Source: Allen, Kathleen R., & Meyer, Earl (2006). “Entrepreneurship and Small Business Management.” New York: Glencoe, p. 143
Section II: Organizational Structure and Management Skills
A plan which shows how the jobs in your company relate to one another
Smaller companies may have everyone report to the owner. The larger the company, the more layers of management needed.