Louisiana Administrative Code
Title 28 - EDUCATION
Part CXLIII - Bulletin 128-Entrepreneurship Content Standards
Chapter 3 - Strands, Standards, Benchmarks, and Objective
Section CXLIII-305 - Strand Three: Business Functions

Benchmark 8-A. Compare the Relationship of Financial Activity to Long-Term Business Success

8-A-1

Identify the various financing activities

8-A-2

Understand the need for developing financing relationships

8-A-3

Identify and compare types of financing

Benchmark 9A. Identify the Processes Involved in an Accounting System

9-A-1

Identify problems that may arise from poor record keeping

9-A-2

Record journal entries

9-A-3

Prepare an aging table

9-A-4

Complete a bank reconciliation

9-A-5

Identify payroll taxes to be deducted

9-A-6

Complete a payroll register

9-A-7

Create an income statement

9-A-8

Create a cash flow statement

9-A-9

Create a balance sheet

Benchmark 10-A. Examine the Process of Staffing an Organization

10-A-1

Identify and understand the laws and regulations which affect the process of staffing organizations

10-A-2

Understand organizational structure

10-A-3

Understand the staffing process by preparing job descriptions

10-A-4

Understand the staffing process by developing recruiting ads

10-A-5

Identify staffing needs

10-A-6

Understand the screening process of applicants

10-A-7

Understand employee compensation

Benchmark 11-A. Generate, Assess, and Select Product/Service Ideas

11-A-1

Perform a basic SWOT (strengths, weaknesses, opportunities, threats) analysis

11-A-2

Identify the target market

11-A-3

Identify appropriate research methods

11-A-4

Research and analyze the needs, wants, and expectations of that target market

11-A-5

Research product's ability to meet those needs, wants, and expectations

11-A-6

Identify and perform a basic SWOT analysis of competitors

11-A-7

Determine our competitive advantage and how we better satisfy the needs of customers

11-A-8

Identify strategies for addressing weaknesses and threats revealed through the SWOT analysis

11-A-9

Create a product/service mix

11-A-10

Choose product name for product created

Benchmark 11-B. Develop Strategies for Marketing Goods or Services

11-B-1

Build brand/image for product created

11-B-2

Create a customer survey to evaluate customer experience

11-B-3

Explain the concept of marketing strategies

11-B-4

Set a marketing budget

11-B-5

Develop marketing plan

11-B-6

Monitor and evaluate performance of marketing plan

11-B-7

Describe the elements of the promotional mix

11-B-8

Write a news release

11-B-9

Select sales promotion options

11-B-10

Develop online promotions (www)

11-B-11

Evaluate effectiveness of advertising

11-B-12

Calculate advertising media costs

11-B-13

Select advertising media

11-B-14

Prepare a promotional budget

11-B-15

Develop promotional plan for a business

11-B-16

Obtain publicity

11-B-17

Write sales letters

11-B-18

Explain factors affecting pricing decisions

11-B-19

Describe the role of business ethics in pricing

11-B-20

Establish pricing objective

11-B-21

Select pricing strategies

11-B-22

Set prices

11-B-23

Calculate breakeven point

11-B-24

Adjust prices to maximize profitability

11-B-25

Establish relationship with client/customer

11-B-26

Determine customer/client needs

11-B-27

Understand steps in selling process

11-B-28

Train staff to support sales efforts

11-B-29

Identify factors to consider when selecting a business site

11-B-30

List sources of information for site selection

11-B-31

Create a floor plan for a selected business

Benchmark 12-A. Develop an Inventory Model

12-A-1

Identify factors that affect inventory cost

12-A-2

Identify types of inventory systems

12-A-3

Determine how inventory will be managed for a selected business

Benchmark 12-B. Evaluate Operational Policies and Procedures

12-B-1

Demonstrate procedures for interpreting business policies

12-B-2

Identify policies and procedures needed in a business

Benchmark 13-A. Determine Ways That Small Businesses Protect Themselves against Loss

13-A-1

Describe the types of business risk

13-A-2

Determine ways that small businesses protect themselves against loss

13-A-3

Develop security and safety policies/procedures

13-A-4

Understand the types of business insurance

13-A-5

Develop strategies for legal/government compliance

Benchmark 13-B. Explore Options Available to Protect Intellectual Property Rights

13-B-1

Identify sources of legal advice and address ways to protect intellectual property rights

Benchmark 14-A. Develop and Implement a Business Plan

14-A-1

Distinguish between a vision statement and a mission statement

14-A-2

Write a vision statement and a mission statement

14-A-3

Write clear goals and objectives

14-A-4

Conduct a SWOT analysis

14-A-5

Develop action plans

14-A-6

Understand the functions of a business plan

14-A-7

Understand how to re-evaluate a business plan

14-A-8

Develop an exit or harvest strategy for a business