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Topic: Viable business opportunities  

Business Education

 Standard 16.  Knows characteristics and features of viable business opportunities
  Level IV (Grade 9-12)
   Benchmark 1.Knows characteristics of a successful business (e.g., marketable idea, opportunity/plan, competitive advantage)
    Knowledge/skill statements
     1.Knows marketable ideas are characteristics of a successful business
     2.Knows opportunity is a characteristic of a successful business
     3.Knows a set plan is a characteristic of a successful business
     4.Knows having a competitive advantage is a characteristic of a successful business
   Benchmark 2.Knows options for going into business (e.g., starting up a new business, buying an established business, acquiring a franchise)
    Knowledge/skill statements
     1.Knows starting a news business is an option for going into business
     2.Knows buying an established business is an option for going into business
     3.Knows acquiring a franchise is an option for going into business
   Benchmark 3.Knows that starting a new business involves substantial risk; purchasing an existing business or buying a franchise reduces the risk involved with going into business
    Knowledge/skill statements
     1.Knows risks involved with going into business
     2.Knows there are substantial risks involved in starting a new business
     3.Knows buying an existing business reduces the risk involved with going into business
     4.Knows buying a franchise reduces the risk involved with going into business
   Benchmark 4.Knows shifts in the marketplace creates unmet consumer needs and new businesses are created to meet these needs
    Knowledge/skill statements
     1.Knows unmet consumer needs are created by shifts in the marketplace
     2.Knows new businesses are started to meet consumers unmet needs created by shifts in the marketplace