This sub-organizer contains the following sections:
Prescribed Learning Outcomes
Suggested Instructional Strategies
Suggested Assessment Strategies
Recommended Learning Resources

PRESCRIBED LEARNING OUTCOMES

• outline and develop plans to overcome obstacles involved in starting a business
• explain the role of research and innovation in entrepreneurship
• contrast various forms of business ownership

To view the prescribed learning outcomes for Entrepreneurship in other grades click on an icon below.

SUGGESTED INSTRUCTIONAL STRATEGIES

• Have students examine forms of business ownership (e.g., sole proprietorship, corporation, co-operative, franchise). Divide the class into groups and ask each group to research the process and implications of setting up a student-based sole proprietorship, including:
  • establishing the need for a business by preparing and conducting a market survey to determine both obstacles and the potential for success
  • identifying financial factors associated with researching, starting, and operating a small business
  • investigating the legal implications of establishing a sole proprietorship
  • recommending a variety of marketing strategies to support the venture
  • analysing the benefits and costs of entrepreneurial activity to society and the entrepreneur

• Arrange an interview with one or more entrepreneurs. Invite students to ask questions to determine personal and business factors involved in the entrepreneurs' success. As an extension, have students co-ordinate a panel presentation to discuss success in business. Encourage them to include entrepreneurs from both genders and a variety of cultures and ages.
• When presenting students with business case studies, ask them to recommend various entrepreneurial approaches to solving any problems.
• Discuss with the class the importance of research and considering alternative research strategies before pursuing a business venture. Brainstorm products and services that are unavailable in the community and generate ideas for business opportunities. Then form groups and invite each group to choose one of the ideas and conduct research, using two different strategies, to help determine its potential for success.
• Ask students to explore ways in which the business community integrates the work of volunteers, providing examples of businesses that rely on volunteer work for their success and survival. Students follow up by evaluating the extent to which volunteer work is entrepreneurial and presenting their conclusions to the class.

SUGGESTED ASSESSMENT STRATEGIES

• Provide students in groups with scenarios describing needs in the market. Have each group identify a business opportunity, develop a plan to capitalize on the opportunity, anticipate obstacles (e.g., from competing businesses; legal or capital problems) and decide how to address them, and assess the plan's chance of success. Review students' work and note evidence that:
  • their ideas are appropriate to the opportunities
  • their plans reflect the need for research in making entrepreneurial decisions
  • they recognize the potential for obstacles and set measures to prevent them

• As a class, brainstorm entrepreneurial approaches to solving problems. Use these approaches along with the reference set Problem Solving Across Curriculum  to help create a self-evaluation checklist. Have students use the checklist to assess their contributions to problem-solving activities and to develop awareness of processes involved in solving problems.
• Discuss with the class why someone might want to conduct research before embarking on a business venture. Ask students to develop lists of reasons and classify them. Check their work and record evidence that they recognize the need for research in order to:
  • assess the merits of business ideas
  • project the ideas' potential for success so they can take calculated risks and secure financing

RECOMMENDED LEARNING RESOURCES

• Towards Success
• World of Business

Video

• Secrets of Selling
• Supermarket Persuasion

Multimedia

• Exploring Business

Note: It is anticipated that existing classroom and school materials will also be used to support the prescribed learning outcomes until additional learning resources are identified.

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