ENT1020 Elements Of A Venture Plan

Introductory · 1 credit · BIT - Business, Admin, Finance and IT

Description: Students learn the elements of a venture planning process.
Prerequisite: None
Parameters: No specialized equipment or facilities.

Outcomes The student will:

1 demonstrate goal-setting and problem-solving strategies that facilitate change
- 1.1 identify short-term and long-term goals for the selected venture
- 1.2 create a mission statement for the venture
- 1.3 describe operational policies consistent with the venture philosophy and business ethics
- 1.4 research legal obligations that affect the venture
- 1.5 outline a human resources plan
- 1.6 establish a support network including:
  - 1.6.1 locating and designing potential support networks
  - 1.6.2 proposing strategies for securing and effectively using sources of support
2 describe potential risks and propose strategies for assessing risks related to a venture
- 2.1 analyze the types of potential risks including:
  - 2.1.1 physical
  - 2.1.2 financial
  - 2.1.3 human resources
- 2.2 complete a risk assessment
- 2.3 propose strategies to assess and minimize risk
3 describe strategies for securing resources and support required to implement a venture
- 3.1 analyze potential markets including:
  - 3.1.1 local
  - 3.1.2 regional
  - 3.1.3 national
  - 3.1.4 international/global
- 3.2 relate market projections to trends and forecasts
- 3.3 evaluate potential competition
- 3.4 outline venture needs regarding the:
  - 3.4.1 target market
  - 3.4.2 product/service
  - 3.4.3 pricing
  - 3.4.4 location
- 3.5 research and appraise potential changes in the market
4 select, plan and assess a venture
- 4.1 complete a venture plan including:
  - 4.1.1 purpose
  - 4.1.2 description/objectives
  - 4.1.3 market research and analysis
  - 4.1.4 marketing plan
  - 4.1.5 production/service plan
  - 4.1.6 financial plan
  - 4.1.7 human resources/organizational plan
- 4.2 analyze the venture plan and revise, as necessary
- 4.3 research various presentation techniques
- 4.4 present the venture plan
- 4.5 analyze and evaluate the outcome of the presentation
- 4.6 evaluate criteria used by other individuals and groups for a successful venture
- 4.7 evaluate the strengths and weaknesses of the venture
- 4.8 prepare a written critique assessing the venture
5 demonstrate qualities that initiate change
- 5.1 demonstrate initiative
- 5.2 demonstrate flexibility
- 5.3 demonstrate leadership/teamwork by:
  - 5.3.1 analyzing leadership styles
  - 5.3.2 evaluating leadership styles and their appropriateness to the success of the venture
- 5.4 demonstrate skills
6 demonstrate basic competencies
- 6.1 demonstrate fundamental skills to:
  - 6.1.1 communicate
  - 6.1.2 manage information
  - 6.1.3 use numbers
  - 6.1.4 think and solve problems
- 6.2 demonstrate personal management skills to:
  - 6.2.1 demonstrate positive attitudes and behaviours
  - 6.2.2 be responsible
  - 6.2.3 be adaptable
  - 6.2.4 learn continuously
  - 6.2.5 work safely
- 6.3 demonstrate teamwork skills to:
  - 6.3.1 work with others
  - 6.3.2 participate in projects and tasks
7 make personal connections to the cluster content and processes to inform possible pathway choices
- 7.1 complete/update a personal inventory; e.g., interests, values, beliefs, resources, prior learning and experiences
- 7.2 create a connection between a personal inventory and occupational choices