Ontario Grade 11 BDP3O Entrepreneurship: The Enterprising Person (Grade 11, Open)
Chapters: 4
1. Developing and Completing a Venture Plan for the Proposed Business
1 Resource Analysis · 2 The Production Plan · 3 The Marketing Plan · 4 The Financial Plan · 5 Completing the Venture Plan
- Entrepreneurship Development – Entrepreneurship is starting a new business by spotting a need, putting resources together and taking the risk. India needs entrepreneurs for jobs, new ideas and balanced growth. The process runs from knowing yourself to launching and growing. Start-up India (2016) supports new firms, funding comes from savings, angels, venture capital, banks and crowdfunding, and intellectual property rights protect new ideas, brands and creative work.
- Marketing Management – Marketing means finding out what buyers need and meeting that need in exchange for value, at a profit. It has many functions (research, planning, branding, labelling, packaging, pricing, promotion, distribution, service) and five philosophies (production, product, selling, marketing, societal). The marketing mix is the 4Ps: product (with branding, labelling, packaging), price (shaped by cost, demand, competition, government rules, objectives and marketing methods), place (channels and physical distribution) and promotion (advertising, personal selling, sales promotion, public relations).
- The Business Financial Plan – A financial plan shows how a business will pay for itself. It sets SMART financial goals, adds up the start-up capital needed, chooses sources of finance (owner's money, loans, investors, grants), projects cash month by month to spot shortfalls, and builds an operating budget with a break-even point. It also covers how the business handles cash and works with banks.
2. The Changing Nature of the Workplace
1 Factors Affecting the Labour Market · 2 Changes in the Workplace · 3 The Enterprising Work Environment · 4 Employability Skills
- The Labour Market – The labour market is where workers sell their time and skills and employers buy them. Firms demand labour because people buy their products (derived demand). Workers supply labour, and more people offer work at higher wages. The wage settles where demand meets supply. A minimum wage above that level can raise pay but may cut jobs. Trade unions, a single big employer (monopsony), skills, discrimination and new technology all change wages and jobs.
- The Enterprising Person: Skills for a Changing Workplace – Work keeps changing because of technology, global trade, gig and remote work and green jobs. An enterprising person takes initiative, thinks creatively, solves problems, thinks critically, works in a team and manages themself. Employers call these employability skills. You can measure them with a self-assessment and grow them through school, clubs, volunteering and part-time jobs.
- Environmental Stewardship: Caring for the Planet as We Use Technology – Environmental stewardship means using the Earth's resources carefully so they last, and fixing harm where we can. Every product, from a phone to a hospital machine, has a life cycle: raw materials, making, transport, use and end of life. Each stage uses energy and makes waste. Good stewards keep products longer, choose efficient machines, follow the waste hierarchy (refuse, reduce, reuse, recycle, then dispose), send e-waste to proper recyclers and support laws and company practices that protect nature. Technology can harm the environment, but it can also help: solar panels, LEDs and smart sensors cut waste.
3. Entrepreneurship and the Enterprising Employee
1 Entrepreneurial Characteristics and Factors Affecting Successful Entrepreneurship · 2 Attitudes and Attributes of Enterprising Employees · 3 Reactions to Uncertainty and Risk · 4 The Contributions of Enterprising Employees
- Entrepreneurship Development – Entrepreneurship is starting a new business by spotting a need, putting resources together and taking the risk. India needs entrepreneurs for jobs, new ideas and balanced growth. The process runs from knowing yourself to launching and growing. Start-up India (2016) supports new firms, funding comes from savings, angels, venture capital, banks and crowdfunding, and intellectual property rights protect new ideas, brands and creative work.
4. Enterprising Skills
1 Assessing Skills · 2 Assessing Personal Progress · 3 Identifying Opportunities for Developing Enterprising Skills
- The Enterprising Person: Skills for a Changing Workplace – Work keeps changing because of technology, global trade, gig and remote work and green jobs. An enterprising person takes initiative, thinks creatively, solves problems, thinks critically, works in a team and manages themself. Employers call these employability skills. You can measure them with a self-assessment and grow them through school, clubs, volunteering and part-time jobs.