Badge holder demonstrated an understanding of in-depth skills and knowledge needed by all entrepreneurs. Skills and concepts assessed focus on business law, channel management, economics, emotional intelligence, entrepreneurship, financial analysis, human resources management, information management, marketing, market planning, operations, pricing, product/service management, professional development, promotion, and strategic management.

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Business Law (BL)

Apply knowledge of business ownership to establish and continue business operations.
BL:003 Explain types of business ownership (CS) LAP-BL-003
BL:006 Select form of business ownership (ON) LAP-BL-006

Channel Management (CM))

Acquire foundational knowledge of channel management to understand its role in marketing.
CM:001 Explain the nature and scope of channel management (CS) LAP-CM-001
CM:003 Explain the nature of channels of distribution (CS) LAP-CM-003

Manage channel activities to minimize costs and to determine distribution strategies.
CM:010 Select channels of distribution (MN)

Economics (EC))

Understand fundamental economic concepts to obtain a foundation for employment in business.
EC:002 Distinguish between economic goods and services (CS) LAP-EC-902
EC:003 Explain the concept of economic resources (CS) LAP-EC-903
EC:001 Describe the concepts of economics and economic activities (CS) LAP-EC-901
EC:004 Determine economic utilities created by business activities (CS) LAP-EC-013
EC:005 Explain the principles of supply and demand (CS) LAP-EC-011
EC:006 Describe the functions of prices in markets (CS) LAP-EC-906

Understand the nature of business to show its contributions to society.
EC:070 Explain the role of business in society (CS) LAP-EC-070
EC:071 Describe types of business activities (CS) LAP-EC-071
EC:138 Describe types of business models (SP)

Understand economic systems to be able to recognize the environments in which businesses function.
EC:007 Explain the types of economic systems (CS) LAP-EC-907
EC:065 Identify the impact of small business/entrepreneurship on market economies (CS)
EC:009 Explain the concept of private enterprise (CS) LAP-EC-015
EC:010 Identify factors affecting a business's profit (CS) LAP-EC-910
EC:011 Determine factors affecting business risk (CS) LAP-EC-003
EC:012 Explain the concept of competition (CS) LAP-EC-912

Acquire knowledge of the impact of government on business activities to make informed economic decisions.
EC:008 Determine the relationship between government and business (CS) LAP-EC-016

Analyze cost/profit relationships to guide business decision-making.
EC:013 Explain the concept of productivity (CS) LAP-EC-018

Emotional Intelligence (EI))

Apply ethics to demonstrate trustworthiness.
EI:022 Demonstrate honesty and integrity (PQ) LAP-EI-138
EI:021 Demonstrate responsible behavior (PQ) LAP-EI-021
EI:127 Demonstrate fairness (PQ) LAP-EI-127
EI:128 Build trust in relationships (CS) LAP-EI-128
EI:123 Describe the nature of ethics (CS) LAP-EI-123
EI:124 Explain reasons for ethical dilemmas (CS) LAP-EI-124
EI:125 Recognize and respond to ethical dilemmas (CS) LAP-EI-125

Use communication skills to foster open, honest communications.
EI:129 Foster open, honest communication (SP) LAP-EI-129

Employ leadership skills to achieve workplace objectives.
EI:009 Explain the concept of leadership (CS) LAP-EI-909

Manage internal and external business relationships to foster positive interactions.
EI:036 Treat others with dignity and respect (PQ) LAP-EI-036
EI:137 Assess long-term value and impact of actions on others (SP) LAP-EI-137

Entrepreneurship (EN))

Understand fundamental factors about entrepreneurship to recognize its role and importance in the economy.
EN:039 Describe the nature of entrepreneurship (SP)
EN:040 Explain the role requirements of entrepreneurs and owners (SP)
EN:044 Describe the use of business ethics in entrepreneurship (SP) LAP-EN-044

Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.
EN:001 Explain the need for entrepreneurial discovery (ON)
EN:002 Discuss entrepreneurial discovery processes (ON)
EN:003 Assess global trends and opportunities for business ventures (ON)
EN:004 Determine opportunities for venture creation (ON)
EN:005 Assess opportunities for venture creation (ON)
EN:006 Generate venture ideas (ON)
EN:038 Determine feasibility of venture ideas (ON) LAP-EN-038

Develop concept for new business venture to evaluate its success potential.
EN:007 Describe entrepreneurial planning considerations (ON)
EN:008 Explain tools used by entrepreneurs for venture planning (ON)
EN:009 Assess start-up requirements (ON)
EN:010 Assess risks associated with venture (ON)
EN:011 Describe external resources useful to entrepreneurs during concept development (ON)
EN:012 Assess the need to use external resources for concept development (ON)

Determine needed resources for a new business venture to contribute to its start-up viability.
EN:015 Describe processes used to acquire adequate financial resources for venture creation/start-up (ON)
EN:016 Select sources to finance venture creation/start-up (ON)
EN:017 Explain factors to consider in determining a venture's human-resources needs (ON)
EN:018 Explain considerations in making the decision to hire staff (ON)
EN:019 Describe considerations in selecting capital resources (ON)
EN:020 Identify capital resources needed for the venture (ON)

Financial Analysis (FI))

Acquire a foundational knowledge of accounting to understand its nature and scope.
FI:579 Describe the need for financial information (CS) LAP-FI-579
FI:085 Explain the concept of accounting (CS) LAP-FI-085

Acquire a foundational knowledge of finance to understand its nature and scope.
FI:354 Explain the role of finance in business (CS) LAP-FI-354

Implement financial skills to obtain business credit and to control its use.
FI:043 Determine financing needed for business operations (ON)

Manage financial resources to ensure solvency.
FI:106 Describe the nature of budgets (SP) LAP-FI-106

Human Resources Management (HR)

Understand the role and function of human resources management to obtain a foundational knowledge of its nature and scope.
HR:410 Discuss the nature of human resources management (CS) LAP-HR-410

Marketing (MK))

Understand marketing's role and function in business to facilitate economic exchanges with customers.
MK:001 Explain marketing and its importance in a global economy (CS) LAP-MK-901
MK:002 Describe marketing functions and related activities (CS) LAP-MK-002

Market Planning (MP))

Develop marketing strategies to guide marketing tactics.
MP:001 Explain the concept of marketing strategies (CS) LAP-MP-001

Select target market appropriate for product/business to obtain the best return on marketing investment (ROMI).
MP:003 Explain the concept of market and market identification (CS) LAP-MP-003
MP:004 Identify market segments (MN)
MP:005 Select target market (MN)

Employ marketing-information to plan marketing activities.
MP:006 Explain the nature of marketing planning (SP)
MP:007 Explain the nature of marketing plans (SP) LAP-MP-007
MP:008 Explain the role of situation analysis in the marketing planning process (SP)
MP:009 Conduct market analysis (market size, area, potential, etc.) (MN)
MP:010 Conduct SWOT analysis for use in the marketing planning process (MN) LAP-MP-010
MP:012 Conduct competitive analysis (MN)
MP:013 Explain the nature of sales forecasts (SP) LAP-MP-013
MP:014 Forecast sales for marketing plan (MN)
MP:015 Set marketing goals and objectives (MN)
MP:016 Select marketing metrics (MN)
MP:017 Set marketing budget (MN)
MP:018 Develop marketing plan (MN)

Information Management (NF))

Use information literacy skills to increase workplace efficiency and effectiveness.
NF:077 Assess information needs (CS)
NF:078 Obtain needed information efficiently (CS)
NF:079 Evaluate quality and source of information (CS)
NF:278 Draw conclusions based on information analysis (CS)
NF:080 Apply information to accomplish a task (CS)
NF:081 Store information for future use (CS)

Acquire a foundational knowledge of information management to understand its nature and scope.
NF:110 Discuss the nature of information management (CS) LAP-NF-110

Utilize information-technology tools to manage and perform work responsibilities.
NF:003 Identify ways that technology impacts business (PQ) LAP-NF-003

Operations (OP))

Understand operation's role and function in business to value its contribution to a company.
OP:189 Explain the nature of operations (CS) LAP-OP-189

Utilize project management skills to improve workflow and minimize costs.
OP:519 Plan project (CS) LAP-OP-519
OP:520 Monitor projects and take corrective actions (CS) LAP-OP-520
OP:521 Evaluate project success (CS) LAP-OP-521

Implement purchasing activities to obtain business supplies, equipment, resources, and services.
OP:015 Explain the nature and scope of purchasing (CS) LAP-OP-015

Understand production's role and function in business to recognize its need in an organization.
OP:017 Explain the concept of production (CS) LAP-OP-017

Implement expense-control strategies to enhance a business's financial wellbeing.
OP:024 Explain the nature of overhead/operating costs (SP) LAP-OP-024

Understand supply chain management's role in business to appreciate its contributions to efficiency and profitability.
OP:443 Explain the concept of supply chain (CS)

Professional Development (PD))

Acquire self-development skills to enhance relationships and improve efficiency in the work environment.
PD:018 Set personal goals (CS) LAP-PD-918

Utilize critical-thinking skills to determine best options/outcomes.
PD:126 Explain the need for innovation skills (CS) LAP-PD-126
PD:017 Make decisions (CS) LAP-PD-017
PD:077 Demonstrate problem-solving skills (CS) LAP-PD-077

Participate in career planning to enhance job-success potential.
PD:066 Explain career opportunities in entrepreneurship (CS) LAP-PD-066

Pricing (PI))

Develop a foundational knowledge of pricing to understand its role.
PI:001 Explain the nature and scope of the pricing function (SP) LAP-PI-001
PI:002 Explain factors affecting pricing decisions (SP) LAP-PI-902

Employ pricing strategies to determine optimal pricing.
PI:019 Determine cost of product (breakeven, ROI, markup) (MN)
PI:006 Calculate break-even point (MN) LAP-PI-006
PI:007 Set prices (MN)

Product/Service Management (PM))

Acquire a foundational knowledge of product/service management to understand its nature and scope.
PM:001 Explain the nature and scope of the product/service management function (SP) LAP-PM-017

Employ product-mix strategies to meet customer expectations.
PM:003 Explain the concept of product mix (SP) LAP-PM-003
PM:006 Plan product mix (MN)
PM:036 Determine services to provide customers (MN)

Position company to acquire desired business image.
PM:206 Explain the nature of corporate branding (SP) LAP-PM-206
PM:207 Describe factors used by businesses to position corporate brands (SP)
PM:277 Identify customer touch points (SP)
PM:126 Build corporate brands (ON) LAP-PM-126

Position products/services to acquire desired business image.
PM:272 Identify company's unique selling proposition (MN) LAP-PM-272
PM:209 Build product/service brand (MN)

Promotion (PR))

Acquire a foundational knowledge of promotion to understand its nature and scope.
PR:001 Explain the role of promotion as a marketing function (CS) LAP-PR-901
PR:002 Explain the types of promotion (i.e., institutional, product) (CS) LAP-PR-902
PR:003 Identify the elements of the promotional mix (SP) LAP-PR-903

Understand promotional channels used to communicate with targeted audiences.
PR:007 Explain types of advertising media (SP) LAP-PR-007

Plan marketing communications to maximize effectiveness and to minimize costs.
PR:097 Develop promotional plan for a business (MN)

Strategic Management (SM))

Recognize management's role to understand its contribution to business success.
SM:001 Explain the concept of management (CS) LAP-SM-001

Utilize planning tools to guide organization's/department's activities.
SM:007 Explain the nature of business plans (MN) LAP-SM-007
SM:008 Develop company goals/objectives (ON)
SM:009 Define business mission (ON)
SM:027 Identify and benchmark key performance indicators (e.g., dashboards, scorecards, etc.) (MN)
SM:012 Develop action plans (ON)
SM:013 Develop business plan (ON) LAP-SM-013

Design organizational structure to facilitate business activities.
SM:032 Develop an organizational plan for human resources (MN)

Identify potential business threats and opportunities to protect a business’s financial well-being.
SM:075 Explain the nature of risk management (SP) LAP-SM-075