Certificate in Entrepreneurship

Lesson 1
Certificate in Entrepreneurship Module 1 - Accounting and Finance for Entrepreneurs
• Understand and explain the assumptions and principles that underlie Generally Accepted Accounting Principles (GAAP)
• Understand and explain the rules of double-entry accounting
• Calculate the balance of the account
• Define the steps that make up the accounting cycle
• Describe the relationship between the major financial statements that make up an annual report
• Explain the role of finance in the entrepreneurial process
• Understand the importance of budgeting and financial planning
• Identify and explain the three major pricing strategies
• Define and distinguish between fixed and variable costs
• Calculate the components of a master (static) budget
• Prepare a cash budget
• Prepare and analyze pro forma financial statements
• Develop a basic financial plan
• Use pro forma financial statements to evaluate a new venture
• Explain the factors and assumptions involved in break-even analysis
• Calculate Return on Investment (ROI) and payback period

Certificate in Entrepreneurship Module 2 - Business Law for Entrepreneurs
• Understand basic legal terminology and the larger legal environment
• Identify and distinguish among the three basic legal structures of business organization
• Explain the advantages and disadvantages of a sole proprietorship
• Understand the rules and liabilities involved in a partnership
• Discuss the advantages and disadvantages of a corporation, and the steps necessary to incorporate
• Distinguish between a general partnership and a limited partnership or a limited liability partnership
• Explain the differences between S corporations and limited liability companies
• Identify the three major types of franchises and discuss the pros and cons of franchising
• Explain the major legal protections for intellectual property rights
• Define and distinguish between patents and copyrights
• Discuss the importance of trademarks
• List the criteria that define a trade secret
• Identify the areas of employment law that are most relevant to entrepreneurs
• Define the four legal elements involved in forming a contract
• Discuss the Statute of Frauds and the types of contracts to which it applies
• Explain Article 2 of the Universal Commercial Code and how it applies to sales contracts
• Understand the basics of tax law as it applies to a business
• Identify the major areas of federal regulation that apply to businesses
• Understand basic legal principles applying to personal property
• Understand basic legal principles applying to real property
• Identify the legal means for transferring ownership of real property
• Identify the three types of bankruptcy defined under federal law

Certificate in Entrepreneurship Module 3 - Introduction to Entrepreneurship
• Describe the characteristics of a successful entrepreneur
• Outline the eight stages of the entrepreneurial process
• Explain the discovery stage
• Describe the evaluation of the market for a new venture
• Outline ways to structure the venture
• Discuss the strategic planning process for an entrepreneur
• Describe the operational and financial planning needed for a new venture
• Outline how an entrepreneur develops and employs a business plan
• Describe the options for funding the new venture
• Discuss issues in implementing the plans for a new venture
• Recognize the ethical issues faced by entrepreneurs

Certificate in Entrepreneurship Module 4 - Leadership and Management for Entrepreneurs
• Describe the managerial roles played by an entrepreneur
• Outline the five key managerial activities
• Describe self-management techniques for managing time and organizing, planning, and prioritizing
• Discuss the autocratic (ODS-A), participative (ODS-P), and empowering (GEM) management styles and their application
• Describe the process for staffing an entrepreneurial venture
• Discuss Katzenbach's Five Motivational Paths and how they apply to new ventures
• Describe the process for coaching employees
• Outline the USED Model for training employees
• Discuss the importance of active listening when communicating with employees

Certificate in Entrepreneurship Module 5 - Strategic Marketing for Entrepreneurs
• Describe the role of strategy and marketing in an entrepreneurial setting
• Discuss the basics of strategy, including the three levels of strategy and the five competitive forces identified by Michael Porter
• Explain marketing basics, including the marketing process and the Four P's
• Discuss the role of marketing in the discovery stage of a new venture
• Describe the evaluation of the market for a new venture, including market segmentation, target marketing, and exploring customer needs
• Discuss the role of strategic planning in the entrepreneurial process
• Describe the key elements of a marketing plan
• Outline the factors for success in creating a new venture business plan